{"id":93969,"date":"2026-03-24T00:00:00","date_gmt":"2026-03-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/?post_type=issue&#038;p=93969"},"modified":"2026-03-24T06:43:06","modified_gmt":"2026-03-24T06:43:06","slug":"what-replaces-gulf-crude-if-hormuz-disruption-drags-on","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/logistics\/issues\/what-replaces-gulf-crude-if-hormuz-disruption-drags-on\/","title":{"rendered":"What replaces Gulf crude if Hormuz disruption drags on?"},"content":{"rendered":"<section id=\"93971\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"93971\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TODAY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2026\/03\/24\/today-whats-left-when-gulf-crude-disappears\/\">\r\n                            TODAY: What\u2019s left when Gulf crude disappears? 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<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Plus: <\/strong>Disruption remains the throughline \u2014 Riyadh is stress-testing a USD 180 oil scenario, while Tehran pivots to selective access in Hormuz, redrawing regional flows. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have more in the news well, below.<\/p>\n<p class=\"tag-border-left\">The big story abroad <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US-Israel war on Iran has not slowed down yet<\/strong>, but US President Donald Trump did announce a five-day pause in strikes and indicate a resumption of talks with Tehran. Trump notably walked back his threat to target the Islamic Republic\u2019s power grid after being urged by US allies and Gulf states, unnamed sources told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-03-23\/trump-s-market-driven-reversal-buys-time-but-skepticism-abounds?srnd=homepage-middle-east\" style=\"\">Bloomberg<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But Tehran has denied that it agreed to talk to Washington. <\/strong>\u201cNo negotiations have been held with the US, and fakenews is used to manipulate the financial and oil markets and escape the quagmire in which the US and Israel are trapped,\u201d Iran\u2019s Parliament Speaker Mohammad Baqer Qalibaf <a target=\"_blank\" href=\"https:\/\/x.com\/mb_ghalibaf\/status\/2036108700524347420?s=20\" style=\"\">said<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Watch to watch: <\/strong>There are two things we\u2019ll be watching closely in the days to come: Whether Washington and Tehran will sit at the negotiating table, and whether Trump will stick to his decision not to target Iran\u2019s energy infrastructure. <a target=\"_blank\" href=\"https:\/\/economictimes.indiatimes.com\/news\/newsblogs\/iran-war-news-live-updates-strait-of-hormuz-us-iran-donald-trump-mojtaba-khamenei-uae-dubai-middle-east-war-latest-news\/liveblog\/129765021.cms?from=mdr\" style=\"\">Iranian media claims<\/a> he already failed to follow through, reporting what so far appear to us to be limited attacks on the country\u2019s gas facilities earlier today. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil prices eased on the news: <\/strong>Crude prices <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/oil-prices-rise-after-us-iran-threaten-hit-energy-targets-middle-east-2026-03-22\/\" style=\"\">fell 11% yesterday<\/a> following Trump\u2019s decision to delay airstrikes on Iran\u2019s energy facilities and his contested reference to resumed negotiations. Brent crude tumbled USD 12.25 \u2014 a 10.9% drop \u2014 to close at USD 99.94 per barrel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also making headlines is the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/americas\/air-canada-express-plane-hits-ground-vehicle-new-yorks-la-guardia-airport-2026-03-23\/\" style=\"\">collision<\/a><\/strong><strong> between an Air Canada Express jet and a fire <\/strong><strong>truck at New York\u2019s LaGuardia airport.<\/strong> Both pilots were killed and dozens were injured. Aviation safety experts said that air traffic staffing levels \u2014 an encroaching issue in US aviation \u2014 will be a part of the ensuing investigation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Watch this space<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a> <\/strong><strong> <\/strong><strong>ENERGY \u2014 Repairs to Qatar\u2019s LNG facilities after this month\u2019s <\/strong><strong>missile strikes<\/strong><strong> could \u201ctake up to five years<\/strong>,\u201d Qatar Energy CEO Saad Sherida Al Kaabi said in a <a target=\"_blank\" href=\"https:\/\/www.qatarenergy.qa\/en\/MediaCenter\/Pages\/newsdetails.aspx?ItemId=3897\" style=\"\">statement<\/a>. Two liquefaction trains \u2014 roughly 12.8 mtpa, or 17% of total exports \u2014 have been knocked offline, forcing QatarEnergy to declare force majeure on long-term contracts with buyers in Europe and Asia.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Plus: <\/strong>QatarEnergy has <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/qatar-offloads-five-lng-slots-belgiums-zeebrugge-terminal-april-sources-say-2026-03-18\/\" style=\"\">put five April slots<\/a> for unloading, storage, and regasification at Belgium\u2019s Fluxys Zeebrugge terminal last week through the secondary market, even though the terminal usually receives up to three Qatari cargoes a month under long-term contracts. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> The decision means Qatar is freeing up booked terminal capacity that it cannot use \u2014 suggesting it expects the disruption to last <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/qatar-offloads-five-lng-slots-belgiums-zeebrugge-terminal-april-sources-say-2026-03-18\/\" style=\"\">longer<\/a> than a short-term cargo delay.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While Egypt isn\u2019t on the list of buyers directly affected, further LNG shortages on the<\/strong><strong> global market will continue to push prices up<\/strong>, especially as each additional month of disruption removes around 1.5% from annual global LNG availability, intensifying competition for a shrinking pool of flexible supply. Countries with weaker financing capacities like Egypt will struggle to compete with Asia or Europe\u2019s premiums, Wideangle LNG Consulting Director Jean-Christian Heintz tells EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a> INVESTMENT \u2014 <\/strong><strong>Marsa<\/strong><strong> Maroc plots MAD 21 bn expansion: <\/strong>Morocco's port operator Marsa Maroc is planning to <a target=\"_blank\" href=\"https:\/\/www.moroccoworldnews.com\/2026\/03\/283731\/marsa-maroc-to-invest-2-1-billion-in-port-expansion-through-2030\/\" style=\"\">invest<\/a> nearly MAD 21 bn in port expansion projects through 2030 after closing 2025 with 16% increase in revenue to MAD 5.8 bn, and 25% surge in net income to MAD 1.6 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why<\/strong><strong> it matters: <\/strong>The investment plan is meant to reinforce the group\u2019s ambition to rank among the region\u2019s leading port operators by the end of the decade, which is part of a MAD 4.4 bn investment plan that aims to modernize and expand port capacity at the port of Casablanca and Jorf Lasfar, according to the group\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/3\/1039.pdf\" style=\"\">annual financial release (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>MARITIME \u2014 TGA announces war-related license requirement exemption:<\/strong> The Transport General Authority (TGA) has suspended the requirement for valid maritime licenses and work permits for 30 days for vessels in the Arabian Gulf, according to a <a target=\"_blank\" href=\"https:\/\/x.com\/Saudi_TGA\/status\/2036134336324350025\" style=\"\">statement<\/a>. The exemption is subject to renewal if necessary and aims to ensure maritime activity continues uninterrupted while enabling vessels to continue their work safely.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Supporting logistics in the east: <\/strong>The Saudi Ports Authority <a target=\"_blank\" href=\"https:\/\/x.com\/MawaniKSA\/status\/2035473188717572239\" style=\"\">launched<\/a> an initiative this week to supply ships in the Arabian Gulf with fuel, water, and food, as the waterway falls under pressure of a near-total closure of the Strait of Hormuz. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Market watch<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil prices rose this morning on supply fears after Iran denied US talks, contradicting <\/strong><strong>Trump\u2019s claim of a near agreement, <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/oil-prices-drop-us-crude-inventories-show-an-increase-2026-03-18\/\" style=\"\">Reuters<\/a> reports. Brent crude futures increased USD 4 to USD 103.94 \/ bbl by 04.00 GMT, while US West Texas Intermediate (WTI) gained USD 3.49 to USD 91.62 \/ bbl.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile close to home: <\/strong>Oil pricing in the Middle East is being rewritten in real time \u2014 and it is happening inside one of the market\u2019s most important benchmarks. The Dubai crude benchmark has been tweaked again as flows through the Strait of Hormuz stall, forcing pricing bodies to adapt to a market that\u2019s no longer functioning normally, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-03-20\/mideast-war-spurs-tweak-to-oil-benchmark-with-hormuz-shut-off?embedded-checkout=true\" style=\"\">Bloomberg<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What changed this time: <\/strong>S&P Global (via Platts) has suspended a pricing offset that normally applies to Abu Dhabi\u2019s flagship Murban crude, which will keep Murban from dropping below Dubai\u2019s level during daily assessments. Crucially, this makes it more attractive to deliver into the benchmark at a time when supply options are shrinking.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters: <\/strong>The Dubai benchmark underpins pricing for a huge share of Middle East crude exports. But right now, the system is under stress \u2014 with only a limited pool of crude grades (mainly Murban and Oman) still able to participate due to shipping disruptions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The<\/strong><strong> Baltic Index slips again: <\/strong>The Baltic Exchange\u2019s dry bulk index \u2014 which tracks rates for the capesize, panamax, and supramax vessel segments \u2014 <a target=\"_blank\" href=\"https:\/\/tradingeconomics.com\/commodity\/baltic\" style=\"\">fell 0.9%<\/a> to 2,037 points on Monday. The capesize declined 1.1% to 2,937 points, while the panamax index slipped 0.8% to 1,888. The smaller supramax index edged down 0.5% to 1,218 points.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"logistics\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><strong>YOU\u2019RE READING EnterpriseAM Logistics, the essential MENA publication for senior <\/strong><strong>execs who care about the industry that connects producers and retailers to global markets. <\/strong>We\u2019re out Monday through Thursday by 9:15am in Cairo and Riyadh and 11:15am in the UAE.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Logistics is available without charge <\/strong>thanks to the generous support of our friends at Hassan Allam Utilities and Transmar.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/user\/news-letters\" style=\"\">Tap or click here<\/a> to get your own copy of Enterprise Logistics.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? 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<\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2026\/03\/24\/what-replaces-gulf-crude-when-the-barrels-go-missing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/1063.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93975\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2026\/03\/24\/what-replaces-gulf-crude-when-the-barrels-go-missing\/1063-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/1063.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1063.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/1063.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/1063.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93974\" class=\"content-area-description single-story post-93974 post type-post status-publish format-standard has-post-thumbnail hentry category-the-big-story-today tag-enterprise-logistics tag-gulf-crude tag-international-energy-agency tag-iran tag-the-big-story-today tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The<\/strong><strong> G7 can flood the market with reserve barrels \u2014 but it still cannot tell <\/strong><strong>refiners where the next reliable crude will come from<\/strong>. If the Iran war drags on and the initial stock draw begins to lose impact, the harder question takes over: where do replacement barrels come from if Gulf flows remain impaired beyond what emergency buffers can absorb?<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Band-aid barrels? <\/strong>The International Energy Agency (IEA) is already calling this the <a href=\"https:\/\/www.iea.org\/reports\/oil-market-report-march-2026\" target=\"_blank\" rel=\"noopener\">largest<\/a><a href=\"https:\/\/www.iea.org\/reports\/oil-market-report-march-2026\" target=\"_blank\" rel=\"noopener\">disruption in oil market<\/a> history, and without a swift resolution to the conflict, reserves risk becoming little more than a stopgap.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>IEA eyeing even deeper reserve releases: <\/strong>The IEA is <a href=\"https:\/\/www.reuters.com\/business\/energy\/iea-consulting-with-governments-further-oil-stock-releases-chief-birol-says-2026-03-23\/\" target=\"_blank\" rel=\"noopener\">weighing another<\/a><a href=\"https:\/\/www.reuters.com\/business\/energy\/iea-consulting-with-governments-further-oil-stock-releases-chief-birol-says-2026-03-23\/\" target=\"_blank\" rel=\"noopener\">emergency oil release<\/a> as the Middle East war keeps choking supply. The agency is currently consulting governments in Asia and Europe on whether more barrels need to be pulled from emergency reserves. Asia is bearing the brunt of the shock given its dependence not just on crude, but also on other critical products moving through Hormuz.<\/p>\n<p class=\"tag-border-left\">The regional fallback<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The first layer of alternatives is still partly inside the region. <\/strong>Saudi Arabia and the UAE can bypass Hormuz through existing pipelines, and Saudi Aramco has already been rerouting barrels to the Red Sea and offering Arab Light cargoes out of Yanbu. But that relief is limited, as the US Energy Information Administration (EIA) <a href=\"https:\/\/www.eia.gov\/todayinenergy\/detail.php?id=65504\" target=\"_blank\" rel=\"noopener\">estimates<\/a> only about 2.6 mn bbl \/ d of available Saudi and UAE pipeline capacity could bypass Hormuz in a disruption.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Not nearly enough: \u201c<\/strong>Saudi Arabia and the UAE do have alternative export routes to the Red Sea and Fujairah, but that is still not enough to offset what is lost through the strait,\u201d global oil markets analyst Harry Tchilinguirian told EnterpriseAM.<\/p>\n<p class=\"tag-border-left\">Who can replace Gulf barrels \u2014 and who can\u2019t?<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>West Africa is the fastest external option \u2014 but it only solves part of the problem.<\/strong> Nigeria has <a href=\"https:\/\/www.reuters.com\/business\/energy\/oil-producers-should-invest-nigeria-diversify-supply-time-crisis-minister-says-2026-03-11\/\" target=\"_blank\" rel=\"noopener\">lifted<\/a> output to about 1.7 mn bbl \/ d and is pitching itself as a diversification partner. Nigerian and Angolan grades could also see stronger East-of-Suez <a href=\"https:\/\/www.kpler.com\/blog\/hormuz-shock-reprices-crude-but-storage-constraints-force-a-fast-resolution\" target=\"_blank\" rel=\"noopener\">demand<\/a> as buyers hunt for light sweet alternatives.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>But there\u2019s the catch<\/strong>, \u201cWest Africa is short on spare capacity,\u201d head of Energy Trends and Analysis at Welligence Energy Ruaraidh Montgomery told EnterpriseAM.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Brazil is one of the few non-Opec producers big enough to matter \u2014 but not enough to <\/strong><strong>cover a global energy shock. <\/strong>Output is <a href=\"https:\/\/www.eia.gov\/todayinenergy\/detail.php?id=66884#\" target=\"_blank\" rel=\"noopener\">forecast<\/a> to average 4 mn bbl \/ d in 2026.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The constraint is logistics and crude fit: <\/strong>Brazilian barrels take <a href=\"https:\/\/www.reuters.com\/business\/energy\/asian-refiners-struggle-replace-middle-east-oil-face-output-cuts-2026-03-04\/\" target=\"_blank\" rel=\"noopener\">longer<\/a> to reach Asia, and cargo offers into China have already jumped to USD 13-14 above Brent, showing that replacement supply exists but gets expensive once Asian buyers start chasing it.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>And the crude isn\u2019t a perfect match:<\/strong> Much of it is lighter than the <a href=\"https:\/\/www.kpler.com\/blog\/hormuz-shock-reprices-crude-but-storage-constraints-force-a-fast-resolution\" target=\"_blank\" rel=\"noopener\">medium-sour<\/a> Gulf grades many refiners are built for. On top of that, Brazil\u2019s growth is already baked into market expectations \u2014 meaning it doesn\u2019t offer a fresh pool of emergency barrels, Montgomery added<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Guyana is part of the backup story \u2014 but it\u2019s too small and too specific to be a <\/strong><strong>substitute. <\/strong>It is expected to <a href=\"https:\/\/www.reuters.com\/world\/africa\/guyanas-economy-expanded-193-2025-despite-cooling-oil-sector-growth-2026-01-26\/\" target=\"_blank\" rel=\"noopener\">average<\/a> around 840k bbl \/ d in 2026, with another offshore project due later this year. Exxon\u2019s installed capacity is already above 900k bbl \/ d and targeting 1.15 mn bbl \/ d.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>But again, it\u2019s mostly light sweet crude<\/strong> \u2014 useful at the margin, not a like-for-like replacement for Gulf supply.<\/p>\n<p class=\"tag-border-left\">Can North America fill the gap?<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>North America is more important than how it looks \u2014 especially for sour-crude refiners. <\/strong>The loss of Gulf medium sour supports heavier substitutes like Canada\u2019s WCS and US Gulf sour grades because complex refiners still need to feed cokers and keep distillate yields up.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The barrels can soften the shock, but they do not replace the Gulf. <\/strong>US output is still <a href=\"https:\/\/www.eia.gov\/outlooks\/steo\/report\/petro_prod.php\" target=\"_blank\" rel=\"noopener\">forecast<\/a> to rise only modestly \u2014 from 13.6 mn bbl \/ d in 2026 to 13.8 mn bbl \/ d in 2027, while Canada\u2019s TMX-linked exports add some extra room without changing the bigger supply picture.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Washington\u2019s case is different:<\/strong> US producers may be able to bring on some additional barrels if producers see higher prices, but any increase would still be too small to make up for the barrels currently offline, Montgomery said.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The market will be forced to look to its neighbors <\/strong>\u2014 like Canada, Brazil, Guyana, and Argentina if Hormuz stays shut, even though Canada's export route to Asia has little room left to expand, Tchilinguirian added.<\/p>\n<p class=\"tag-border-left\">The market leans back on Russia<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Is there room for the Russians? <\/strong>Moscow is emerging as the market\u2019s most usable emergency fallback for Asia as its barrels are already flowing and can be redirected faster than new supply can be developed.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>India isn\u2019t waiting: <\/strong>Refiners have returned to Russian crude as Gulf disruption tightens supply, while Moscow says it can redirect more cargoes toward Indian buyers. Russia may also have some room to lift output and exports if its own flows remain unaffected, Tchilinguirian added.<\/p>\n<p class=\"tag-border-left\">Where does the pressure really land?<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Asia takes the hit: <\/strong>Asia remains the main pressure point rather than Europe or the US as the market waits to see whether secure transit through Hormuz can be restored, Tchilinguirian explained, because the bulk of the liquids moving through the strait is destined for Asian buyers, with China and India being the largest takers.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>\u2026but they are holding up:<\/strong> Short-term pressure is softened by the fact that China built up strategic reserves through 2025 and early 2026 and continues to receive Iranian crude, while India, under a US waiver, is still able to take Russian barrels. Japan and South Korea are also exposed, but both stand to benefit from the IEA stock release, Tchilinguirian said.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/gulf-crude\/\">Gulf crude<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/international-energy-agency\/\">International Energy Agency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/the-big-story-today\/\">THE BIG STORY TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93976 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"93976\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2026\/03\/24\/93976\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93976\" class=\"content-area-description single-story post-93976 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/yanmuparks.com\/\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/425.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93977\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"93977\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2026\/03\/24\/saudi-officials-are-modeling-a-worst-case-oil-price-scenario\/\">\r\n                            Saudi oil alarm bells ring                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2026\/03\/24\/saudi-officials-are-modeling-a-worst-case-oil-price-scenario\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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USD 180 \/ bbl is \u201cnot implausible\u201d as it would still be lower in real USD terms than when oil prices hit over USD 145 \/ bbl during the 2008 financial crisis, but that surge was demand-side driven, Alexander said.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>It\u2019s all about how long the Hormuz closure is going to last. <\/strong>\u201cI don\u2019t think USD 150 is out of the question in another month [\u2026] You start talking about June, I\u2019ll give you USD 180,\u201d CIBC Private Wealth Senior Energy Trader Rebecca Babin said.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Higher prices can be good for us \u2014 but only for a little while.<\/strong> The short-term impact of high prices on our budget would be favorable, Alexander added, as the Kingdom should be able to export well over half the pre-war levels. \u201cIf the oil price averages over USD 140 \/ bbl, then it's a net benefit.\u201d<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>It\u2019s a different story after that.<\/strong> The WSJ reports officials are concerned about a similar scenario: the volatility could tip the global economy into recession or trigger a lasting demand hit as oil consumers cut back. For the medium term, Alexander anticipates higher prices for a longer period, driven by the risk premium and reduced global reserves. Still, \u201ca global recession could also hit demand, so it\u2019s a complex picture.\u201d<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>IN CONTEXT-<\/strong> Saudi Arabia has cut output by some 2 mn bbl \/ d since the closure of Hormuz last month, with Saudi Aramco\u2019s CEO Amin Nasser raising <a href=\"https:\/\/about.bnef.com\/insights\/commodities\/iran-rattles-saudis-red-sea-oil-reset-heres-whats-at-stake\/\" target=\"_blank\" rel=\"noopener\">alarm bells<\/a> over \u201cthe biggest crisis the region\u2019s oil and gas industry has faced.\u201d The ongoing conflict has already withheld mns of barrels from the global supply, with prices doubling since the war began last month.<\/p>\n<p class=\"tag-border-left\">Where do we stand?<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Riyadh\u2019s escape route under fire: <\/strong>The Kingdom\u2019s facilities at Yanbu \u2014 the Red Sea outlet designed to bypass the Hormuz chokepoint \u2014 were <a href=\"https:\/\/about.bnef.com\/insights\/commodities\/iran-rattles-saudis-red-sea-oil-reset-heres-whats-at-stake\/\" target=\"_blank\" rel=\"noopener\">targeted by an Iranian drone<\/a> on Thursday. The port recorded some 4.2 mn bbl \/ d exiting its waters by last Wednesday as tankers lined up to offtake the redirected crude. However, another drone hit Samref refinery, raising concerns regarding the long-term security of the Gulf\u2019s escape valve.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Prices reflect the damage:<\/strong> The string of attacks on energy infrastructure sent Brent futures as high as USD 119 a barrel, before it eased back slightly on Thursday. Gulf futures tied to Oman crude have already shot past USD 166 a barrel. Some customers are balking at the volatility, but Aramco is holding steady, insisting the price reflects a genuine physical shortage.<\/p>\n<p class=\"tag-border-left\">Why this matters<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Pricing tightrope: <\/strong>Aramco is trying to price crude accurately while preventing global consumers from putting their pencils down and slashing oil use for good. Operators across the Kingdom and the wider Gulf are concerned about long-term market instability.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The road to USD 200 per barrel? <\/strong>\u201cUSD 200 a barrel is not outside the realm of possibility in 2026,\u201d analysts at energy consulting firm Wood Mackenzie said. We\u2019re inching dangerously close to the contracts all-time high, which hit USD 146.08 a barrel in July 2008.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>What breaks first if oil reaches USD 200 per barrel?<\/strong> \u201cA probable USD 8- USD 12 per gallon gas price kills spending and spurs electric cars. Gulf aluminum plants close without shipping from Hormuz. World trade growth slows as costs soar,\u201d Wolfgang Lehmacher, former head of supply chain and transport industries at the World Economic Forum, tells EnterpriseAM.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Europe, Japan, and Korea could take the biggest hit<\/strong>, with Aramco weighing how the surging cost of its crude imports will drive up the cost of energy, inflation, and interest rates, ultimately slowing economies and demand.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The bigger picture: <\/strong>Surging oil means the end of cheap energy and factory inputs, Lehmacher EnterpriseAM. \u201cA probable USD 8-12 \/ gallon gas price kills spending and spurs electric cars. Gulf aluminum plants will close without shipping from Hormuz. World trade growth will slow as costs soar,\u201d he added.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Early signs of strain: <\/strong>Aramco has already cut its crude supply to Asian buyers for April for a second month running, <a href=\"https:\/\/www.reuters.com\/business\/energy\/saudi-aramco-tells-buyers-lift-only-arab-light-crude-yanbu-april-2026-03-23\/\" target=\"_blank\" rel=\"noopener\">Reuters<\/a> reports, citing two insider sources. For now, the producer is only offloading Arab Light exports from Yanbu to term customers next month.<\/p>\n<p class=\"tag-border-left\">What\u2019s next?<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>A 10-day countdown: <\/strong>All eyes are on 2 April, when Aramco is due to release its official selling prices. Until then, modelers are racing to identify the breaking point \u2014 the price at which gasoline demand starts to collapse and industrial activity becomes uneconomic.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Supply crunch ahead?<\/strong> Saudi light crude is being offloaded to Asian purchasers via Yanbu port for around USD 125 a barrel. We\u2019re expecting to see physical shortage weigh heavier next week, as extra oil in storage \u2013\u2013 a portion of which was shipped out of the Gulf prior to the war \u2013\u2013 is used up.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/disruption-watch\/\">DISRUPTION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/shipping-maritime\/\">SHIPPING + MARITIME<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93979 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"93979\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2026\/03\/24\/93979\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93979\" class=\"content-area-description single-story post-93979 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/transmar.com\/\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2700.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93980\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"93980\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Shipping + Maritime<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2026\/03\/24\/could-irans-total-hormuz-blockade-give-way-to-selective-gatekeeping\/\">\r\n                            Tehran\u2019s new toll gate                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2026\/03\/24\/could-irans-total-hormuz-blockade-give-way-to-selective-gatekeeping\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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By forcing ships closer to its coast and between the islands of Qeshm and Larak, Iran is using visual identification in lieu of radar stations knocked out by US strikes. However, Iran\u2019s total blockade has begun to show signs of softening into a tiered system.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Three more<\/strong><strong> vessels were hit while we were away: <\/strong>A bulk carrier <a href=\"https:\/\/www.ukmto.org\/recent-incidents\" target=\"_blank\" rel=\"noopener\">was struck some 15 nm<\/a> north of the UAE\u2019s Sharjah on Sunday, while another ship was hit some 11 nm east of Fakkan on Wednesday, causing a fire on board. A third ship was hit some 4 nm east of Qatar\u2019s Ras Laffan on Thursday. All crew members in the three incidents were reported safe.<\/p>\n<p class=\"tag-border-left\">The flow: Who\u2019s getting through?<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Who\u2019s in Iran\u2019s good books so far? <\/strong>Vessels from India, Pakistan, and Greece, alongside Iran's own oil fleet, have been tracked taking unusual routes around Larak Island to navigate the strait. At least nine Chinese Cosco-linked tankers are currently amassing north of Abu Dhabi, likely awaiting cleared passage given Beijing\u2019s role as the primary buyer of Iranian oil.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The list could grow: <\/strong>Iran\u2019s Foreign Minister has signaled readiness to let Japanese-related vessels pass following <a href=\"https:\/\/www.reuters.com\/business\/energy\/iran-ready-let-japanese-vessels-transit-hormuz-kyodo-reports-2026-03-21\/\" target=\"_blank\" rel=\"noopener\">direct talks<\/a> with Tokyo.<\/p>\n<p class=\"tag-border-left\">The carve-outs<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The Sinopec pivot: <\/strong>Despite the US Treasury issuing a 30-day waiver for 140 mn barrels of Iranian oil already at sea, Sinopec is <a href=\"https:\/\/www.reuters.com\/business\/energy\/chinas-sinopec-will-not-buy-iranian-oil-executive-says-2026-03-23\/\" target=\"_blank\" rel=\"noopener\">evaluating risks and opting out<\/a>, citing payment complications and the aging shadow fleet as concerns. The refiner will slash runs by 5% this month due to the energy fallout.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Securing national interests:<\/strong> To shore up domestic food security against 47.5% inflation, Tehran has <a href=\"https:\/\/www.ft.com\/content\/ff30a226-33cc-45fd-9614-1bf34767732d?syn-25a6b1a6=1\" target=\"_blank\" rel=\"noopener\">allowed 11 bulk carriers<\/a> \u2013\u2013 mostly Greek-managed \u2013\u2013 to deliver grain and soybeans to the port of Imam Khomeini before exiting via Iranian territorial waters.<\/p>\n<p class=\"tag-border-left\">The red lines<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Despite the selective openings,<\/strong> <strong><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/iran-says-hormuz-open-all-enemy-linked-ships-amid-us-threat-2026-03-22\/\" target=\"_blank\" rel=\"noopener\">enemy-linked vessels<\/a><\/strong><strong> remain strictly barred<\/strong>, specifically those connected to the US and Israel. Following a 48-hour ultimatum from US President Donald Trump to fully open the strait, Tehran has threatened to <a href=\"https:\/\/www.politico.com\/news\/2026\/03\/22\/iran-threatens-to-completely-close-strait-of-hormuz-and-hit-power-plants-after-trump-ultimatum-00839615\" target=\"_blank\" rel=\"noopener\">completely close<\/a> the waterway and continue to target regional power plants if US and Israeli aggression continues.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Iran is soft launching a new pay-to-play model:<\/strong> For those not on the enemy list, passage now could carry a steep USD 2 mn transit fee per vessel \u2014 a move Iranian <a href=\"https:\/\/www.aa.com.tr\/en\/middle-east\/iran-collects-2m-fees-from-some-vessels-passing-through-hormuz-lawmaker-says\/3874652\" target=\"_blank\" rel=\"noopener\">lawmakers say<\/a> reflects a new concept of sovereignty for Iran.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/disruption-watch\/\">DISRUPTION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/shipping-maritime\/\">SHIPPING + MARITIME<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93982\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"93982\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Disruption Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2026\/03\/24\/energy-infrastructure-airports-targeted-over-the-eid-break\/\">\r\n                            What happened to energy and airports over Eid?                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2026\/03\/24\/energy-infrastructure-airports-targeted-over-the-eid-break\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/logistics\/2026\/03\/24\/energy-infrastructure-airports-targeted-over-the-eid-break\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/logistics\/2026\/03\/24\/energy-infrastructure-airports-targeted-over-the-eid-break\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Energy infrastructure, airports targeted over the Eid break&url=https:\/\/enterpriseam.com\/logistics\/2026\/03\/24\/energy-infrastructure-airports-targeted-over-the-eid-break\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/logistics\/2026\/03\/24\/energy-infrastructure-airports-targeted-over-the-eid-break\/&title=Energy infrastructure, airports targeted over the Eid break\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Energy+infrastructure%2C+airports+targeted+over+the+Eid+break+https%3A%2F%2Fenterpriseam.com%2Flogistics%2F2026%2F03%2F24%2Fenergy-infrastructure-airports-targeted-over-the-eid-break%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2026\/03\/24\/energy-infrastructure-airports-targeted-over-the-eid-break\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/1059.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93983\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2026\/03\/24\/energy-infrastructure-airports-targeted-over-the-eid-break\/1059-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/1059.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1059.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/1059.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/1059.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93982\" class=\"content-area-description single-story post-93982 post type-post status-publish format-standard has-post-thumbnail hentry category-disruption-watch tag-aviation tag-disruption-watch tag-enterprise-logistics tag-lng tag-qatar tag-shipping-maritime tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>\u201cEconomic terrorism\u201d \u2014 that\u2019s how Industry and Advanced Technology <\/strong><strong>Minister and Adnoc CEO Sultan Al Jaber framed Iranian threats to the Strait of Hormuz<\/strong>, speaking at CeraWeek, state news agency <a href=\"https:\/\/www.wam.ae\/en\/article\/bzck8ud-weaponising-hormuz-economic-terrorism-against\" target=\"_blank\" rel=\"noopener\">Wam<\/a> reports. Al Jaber warned that weaponizing the waterway isn\u2019t just a regional issue, but has an \u201cexponential\u201d human cost through disruptions to supply chains, food systems, and everyday costs around the world. \u201cEnergy security is not just a slogan,\u201d he said, \u201cit\u2019s the difference between the lights on and lights off.\u201d<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>What you missed from over the weekend: <\/strong>US President Donald Trump\u2019s comments that the war was almost over were swiftly followed by renewed attacks from both sides. Most notably, <a href=\"https:\/\/www.reuters.com\/business\/energy\/irans-giant-south-pars-gas-field-centre-gulf-war-escalation-2026-03-19\/\" target=\"_blank\" rel=\"noopener\">Israel attacked the South Pars gas field<\/a> on Wednesday, Iran\u2019s primary energy resource, and Iranian strikes took out <a href=\"https:\/\/www.reuters.com\/business\/energy\/iran-attack-damage-wipes-out-17-qatars-lng-capacity-three-five-years-qatarenergy-2026-03-19\/\" target=\"_blank\" rel=\"noopener\">17% of Qatar\u2019s LNG export capacity<\/a> in retaliation.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Energy and IT infrastructure have already been targeted multiple times<\/strong> during this war, with strikes on Amazon Web Services data centers in Bahrain and Dubai leading to a widespread outage hitting dozens of regional firms, and energy facilities in Abu Dhabi suffering several hits so far.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Iran responded with a threat of its own: <\/strong>\u201cIf \u2060Iran\u2019s fuel and energy infrastructure is attacked by the enemy, all energy infrastructure, as well as information technology\u2026 and water desalination facilities, belonging to the US and the regime in the region will be targeted pursuant to previous warnings,\u201d Iranian military spokesman Ebrahim Zolfaqari said, according to state media.<\/p>\n<p class=\"tag-border-left\">Hormuz disruption is scrambling LNG exports<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Adnoc Gas says shipping disruption in the Strait of Hormuz is forcing <\/strong><strong>temporary tweaks to LNG and liquids output<\/strong>, with exports now managed shipment-by-shipment to keep deliveries on track, according to an <a href=\"https:\/\/ent.news\/2026\/3\/1031.pdf\" target=\"_blank\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. The company, however, affirms the pipelines are still operational, with no impact on core processing despite debris falling near some facilities.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>But the strain is showing:<\/strong> LNG output at Das Island is running at very low levels due to export constraints, despite the resumption of processing operations at Habshan complex following an attack last week, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-03-23\/uae-restarts-main-gas-supply-plant-while-idling-most-lng-output?srnd=homepage-middle-east\" target=\"_blank\" rel=\"noopener\">Bloomberg<\/a> reports, citing people familiar with the matter. The LNG plant has not been fully shut to allow a quick restart, with supply supported in part by gas flows from Qatar via the Dolphin pipeline.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>More than 40 oil and gas facilities across nine Middle Eastern countries<\/strong><strong> have <\/strong><strong>been severely damaged as the Iran war enters its fourth week<\/strong>, International Energy Agency (IEA) Executive Director Fatih Birol <a href=\"https:\/\/www.cnbc.com\/2026\/03\/23\/iran-war-energy-oil-gas-middle-east-iea-us-uae-qatar.html\" target=\"_blank\" rel=\"noopener\">said<\/a>. The conflict has created what the agency calls the largest supply shock in oil market history, rivaling the impact of the 1970s oil shocks and the 2022 gas crisis. The disruption extends beyond oil and gas, hitting petrochemicals, fertilizers, sulfur, and helium. LNG imports also dropped by some 20% since the war began.<\/p>\n<p class=\"tag-border-left\">Strikes force UAE gas shutdowns, output tweaks<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Iranian strikes targeted key Emirati energy infrastructure over the weekend<\/strong>, launching attacks on the Habshan gas facility and Bab field, both intercepted without injuries, as attacks on Adnoc-linked assets continue, according to a Foreign Affairs Ministry <a href=\"https:\/\/www.mofa.gov.ae\/MediaHub\/News\/2026\/3\/19\/uae-iran\" target=\"_blank\" rel=\"noopener\">statement<\/a>. Authorities have called it a \u201cdangerous escalation.\u201d<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The interceptions prompted shutdowns of the complex<\/strong>, which is one of the largest gas processing plants in the world, with 6.1 bcf \/ d capacity. Adnoc gas made adjustments to LNG production and exports, maintaining that operations are continuing safety, it said in a <a href=\"https:\/\/ent.news\/2026\/3\/1035.pdf\" target=\"_blank\" rel=\"noopener\">disclosure (pdf)<\/a>, without providing further details on output.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The framing is shifting: <\/strong>Industry and Advanced Technology Minister and Adnoc head Sultan Al Jaber put it bluntly <a href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7440321895834632192\/\" target=\"_blank\" rel=\"noopener\">on LinkedIn<\/a>, saying energy infrastructure \u201cshould never be a target.\u201d He described the attacks as \u201cglobal economic warfare,\u201d warning that energy flows are being weaponized.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The fallout is spreading beyond the UAE: <\/strong>Production <a href=\"https:\/\/www.reuters.com\/business\/energy\/shells-pearl-gtl-facility-qatar-stops-production-after-attacks-2026-03-19\/\" target=\"_blank\" rel=\"noopener\">was paused<\/a> at Shell\u2019s Pearl gas-to-liquids facility in Qatar on Thursday, following the attack on Ras Laffan. The move removed up to 1.6 bn cftd from the market after the two-train facility sustained damage to one of its trains.<\/p>\n<p class=\"tag-border-left\">Supply shock ripples across gas, oil and markets<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The attack on Qatar\u2019s Ras Laffan could potentially cause a \u201clasting global gas shortage<\/strong>,\u201d analysts <a href=\"https:\/\/www.ft.com\/content\/e3814e6f-a1c9-4ad4-b449-c14064d58f42?syn-25a6b1a6=1\" target=\"_blank\" rel=\"noopener\">said<\/a>. Damage to Ras Laffan\u2019s production capability would mean \u201cthe gas supply balance is that much tighter,\u201d director for European gas and LNG at Wood Mackenzi Tom Marzec-Manser said.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Pressure is also mounting in <\/strong><strong>Iraq<\/strong><strong>: <\/strong>Iraqi authorities <a href=\"https:\/\/www.reuters.com\/business\/energy\/iraq-declares-force-majeure-foreign-operated-oilfields-over-hormuz-disruption-2026-03-20\/\" target=\"_blank\" rel=\"noopener\">declared force majeure<\/a> on oilfields operated by foreign companies. With navigation through the strait disrupted, most crude exports have effectively stalled, pushing storage capacity to its limits. In a letter to stakeholders, officials said international partners were unable to nominate tankers to lift crude, leaving shipments ready but unable to move.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The disruption is now rippling across global markets.<\/strong> US <a href=\"https:\/\/www.ft.com\/content\/193718a3-5f4f-4a5d-9847-97820d63a546?syn-25a6b1a6=1\" target=\"_blank\" rel=\"noopener\">oil and gas dealmaking<\/a> has largely ground to a halt as extreme price volatility makes transactions difficult to structure. \u201cEverything is in paralysis right now because no one can price anything,\u201d <a href=\"https:\/\/www.ft.com\/content\/193718a3-5f4f-4a5d-9847-97820d63a546?syn-25a6b1a6=1\" target=\"_blank\" rel=\"noopener\">said<\/a> Vinson &amp; Elkins partner Bryan Loocke, describing a near \u201cshutdown\u201d in activity. Meanwhile, US gasoline <a href=\"https:\/\/www.reuters.com\/business\/energy\/us-pump-prices-jump-30-since-middle-east-war-began-headed-toward-4-gallon-2026-03-19\/\" target=\"_blank\" rel=\"noopener\">prices surged<\/a> more than 30% month-on-month in March, approaching USD 4 per gallon as supply shocks feed through to consumers.<\/p>\n<p class=\"tag-border-left\">Logistics routes are seeing more threats\u2026<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The threats from Iran continued: <\/strong>Tehran warned it will move beyond a Hormuz blockade, saying it could mine the Gulf if its coasts or islands are attacked, <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/iran-says-coastal-attack-will-lead-full-gulf-closure-mine-laying-2026-03-23\/\" target=\"_blank\" rel=\"noopener\">Reuters<\/a> quotes Iranian state media as saying.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>This marks another potentially direct challenge to the UAE\u2019s position as an open-access global hub.<\/strong> If the \u201cfloating mine\u201d risk is deemed credible by the London ins. market, standard maritime cover could be withdrawn for ports north of the Fujairah-Khor Fakkan line \u2014 effectively redrawing the region\u2019s commercial geography.<\/p>\n<p class=\"tag-border-left\">Air travel feeling the strain as airport targeted<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The skies are still open, but less predictable.<\/strong> Abu Dhabi has seen a string of delays and cancellations, while Dubai is holding steadier for now with lighter disruptions, <a href=\"https:\/\/www.thenationalnews.com\/travel\/2026\/03\/22\/iran-war-middle-east-flight-status\/\" target=\"_blank\" rel=\"noopener\">The National<\/a> reports.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>But the system is getting more sensitive:<\/strong> Temporary airspace closures and early-morning alerts show how quickly operations can shift, even if normalcy resumes within hours. Airlines are already adapting \u2014 <a href=\"https:\/\/x.com\/EmiratesSupport\/status\/2033904873679560905\" target=\"_blank\" rel=\"noopener\">Emirates<\/a> is running a reduced schedule and offering flexibility, while global carriers including British Airways, Lufthansa, Air France, and Singapore Airlines are <a href=\"https:\/\/www.thenationalnews.com\/travel\/2026\/03\/22\/iran-war-middle-east-flight-status\/\" target=\"_blank\" rel=\"noopener\">scaling back<\/a> Dubai routes.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Airlines are even having to grapple with damage to aircraft:<\/strong> Two aircraft parked at Dubai International Airport were reportedly damaged early in the conflict by Iranian strikes, the <a href=\"https:\/\/www.wsj.com\/business\/airlines\/flights-are-still-taking-off-as-missiles-rain-down-in-the-middle-east-110358c4\" target=\"_blank\" rel=\"noopener\">Wall Street Journal<\/a> reports.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/aviation\/\">AVIATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/disruption-watch\/\">DISRUPTION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/lng\/\">LNG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/shipping-maritime\/\">SHIPPING + MARITIME<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93984\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"93984\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on Our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2026\/03\/24\/adnoc-omv-start-operating-borouge-4-new-sea-land-logistics-corridor-between-damamm-sharjah\/\">\r\n                            Adnoc + OMV bring Borouge 4 into play, New sea-land logistics corridor between Damamm + Sharjah                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2026\/03\/24\/adnoc-omv-start-operating-borouge-4-new-sea-land-logistics-corridor-between-damamm-sharjah\/\" 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operating Borouge 4, New sea-land logistics corridor between Dammam + Sharjah\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Adnoc+%2B+OMV+start+operating+Borouge+4%2C+New+sea-land+logistics+corridor+between+Dammam+%2B+Sharjah+https%3A%2F%2Fenterpriseam.com%2Flogistics%2F2026%2F03%2F24%2Fadnoc-omv-start-operating-borouge-4-new-sea-land-logistics-corridor-between-damamm-sharjah%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2026\/03\/24\/adnoc-omv-start-operating-borouge-4-new-sea-land-logistics-corridor-between-damamm-sharjah\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/1057.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93985\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2026\/03\/24\/adnoc-omv-start-operating-borouge-4-new-sea-land-logistics-corridor-between-damamm-sharjah\/1057-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/1057.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1057.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/1057.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/1057.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93984\" class=\"content-area-description single-story post-93984 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-adnoc tag-also-on-our-radar tag-enterprise-logistics tag-mawani tag-saudi-arabia tag-shipping-maritime wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"tag-border-left\">Adnoc, OMV make headway on Borouge platform<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Abu<\/strong><strong> Dhabi National Oil Company (Adnoc) and Austrian<\/strong><strong> natural gas firm OMV<\/strong><strong> will begin to operate and market<\/strong> <strong>volumes from the new Borouge 4 (B4) complex<\/strong> in exchange for an at-cost fee, as they make headway on the merger of their polyolefins business, according to a <a href=\"https:\/\/www.adnoc.ae\/en\/news-and-media\/press-releases\/2026\/adnoc-and-omv-advance-formation-of-borouge-group-international-ag\" target=\"_blank\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Why it matters:<\/strong> By using an at-cost usage fee, the new group pockets an estimated USD 400 mn in net income over the next three years without having to secure the full acquisition of the complex from current owners, which is not expected before 2029, according to the statement.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>REMEMBER- <\/strong>Adnoc and OMV <a href=\"https:\/\/enterpriseam.com\/logistics\/2025\/03\/10\/today-egypts-subsea-cable-factory-dekheila-ports-new-petrochemicals-facility\/\" target=\"_blank\" rel=\"noopener\">last year<\/a> agreed to merge their polyolefins businesses into Borouge Group International, a c. USD 60 bn platform combining Borouge, Borealis, and Nova Chemicals, with planned capacity of <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/04\/29\/adnocs-borouge-looks-to-boost-production-capacity-to-6-6-mn-tonnes-by-2028\/\" target=\"_blank\" rel=\"noopener\">13.6 mn tonnes<\/a> across Europe, the Middle East, and North America. The merger is on track to be completed before the end of the month.<\/p>\n<p class=\"tag-border-left\">Mawani opens new Sharjah-Dammam route, expands shipping services<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong> UAE, Saudi expand trade routes amid Hormuz risk: <\/strong>The Saudi Port Authority (Mawani) has opened a new sea-land logistics corridor between UAE\u2019s Sharjah and Saudi Arabia\u2019s Dammam, the Saudi Port Authority said in a <a href=\"https:\/\/x.com\/MawaniKSA\/status\/2035827014385508697?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2035827014385508697%7Ctwgr%5E4a6113567b9f93f8594a058eef3a3f1039517aad%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcdn.iframe.ly%2FUrrfRKMD\" target=\"_blank\" rel=\"noopener\">post on X<\/a>.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>That\u2019s not all from Mawani: <\/strong>Mawani also added <a href=\"https:\/\/spa.gov.sa\/en\/N2544115\" target=\"_blank\" rel=\"noopener\">five new maritime shipping services<\/a>. The new lines are Gulf Shuttle, Redex, jade, AE19, and SE4 services with MSC, CMA CGM, Maersk, and Hapag-Lloyd \u2014 adding a combined capacity of 65.6k TEUs across routes linking Saudi ports with regional and global destinations.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/mawani\/\">Mawani<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/shipping-maritime\/\">SHIPPING + MARITIME<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93986\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2026\/03\/24\/93986\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93986\" class=\"content-area-description single-story post-93986 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> Calendar<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:700\">MARCH<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>26 March (Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.marinemoney.com\/events-2-0-2\/2026-gulf-ship-finance-forum\" style=\"\">Gulf Ship Finance Forum<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:700\">APRIL<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>12-15 April (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zumizointernational.com\/trade-shows\/saudi-smart-logistics\/\" style=\"\">Saudi Smart Logistics<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia. <\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>16-17 April (Thursday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/conferenziaworld.com\/global-supply-chain-and-logistics-summit\/#:~:text=16th%20%2D%2017th%20April%202026%20\/%20Amsterdam,Logistic%20Summit%20Introduction\" style=\"\">Global Supply Chain and Logistics Summit<\/a><\/span><span style=\"font-weight:400;\">, Amsterdam, The Netherlands.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>23-24 April (Thursday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.key-notion.com\/sustainability-world-summit\" style=\"\">Sustainability World Summit<\/a><\/span><span style=\"font-weight:400;\">, Frankfurt, Germany.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>28-30 April (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.transportevents.com\/product\/portugal26\/\" style=\"\">Mediterranean Ports and Logistics<\/a><\/span><span style=\"font-weight:400;\">, Porto, Portugal.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>12-14 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.theairportshow.com\/en-gb\/visit.html\" style=\"\">The Airport Show<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>12-14 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.iata.org\/en\/events\/all\/iata-aviation-energy-forum\/\" style=\"\">Aviation Energy Forum (AEF)<\/a><\/span><span style=\"font-weight:400;\">, Paris, France.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>12-14 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.terrapinn.com\/exhibition\/seamless-middle-east-fintech\/index.stm\" style=\"\">Seamless Middle East<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>19-21 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.iata.org\/en\/events\/all\/iata-ground-handling-conference\/\" style=\"\">Ground Handling Conference (IGHC)<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>19-21 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.tocworldwide.com\/en\/home.html\" style=\"\">Terminal Operations Conference & Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Hamburg, Germany.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>2-4 June (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.propakmena.com\" style=\"\">ProPak Mena<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>4-5 June (Thursday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/supplyclo.com\" style=\"\">Supply Chain and Logistics Summit<\/a><\/span><span style=\"font-weight:400;\">, Amsterdam, Netherlands.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>6-8 June (Saturday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.iata.org\/en\/events\/agm\/agm-2026\/\" style=\"\">IATA World Air Transport Summit<\/a><\/span><span style=\"font-weight:400;\">, Rio de Janeiro, Brazil.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>10-11 June (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.transportevents.com\/product\/black-sea-ports-and-logistics-2026-istanbul\/\" style=\"\">Black Sea Ports and Logistics<\/a><\/span><span style=\"font-weight:400;\">, Istanbul, Turkey.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>22-23 June (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/decarbonizingforum.com\" style=\"\">Decarbonizing Shipping Forum<\/a><\/span><span style=\"font-weight:400;\">, Rotterdam, Netherlands.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30-1 August (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aircargomiddleeastexpo.com\/?utm_source=referral-traffic&utm_medium=ref-visit&utm_campaign=google.com\" style=\"\">Air Cargo Middle East<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30-1 August (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/SWLExpo\/\" style=\"\">Saudi Warehouse and Logistics Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16-17 September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudimaritimecongress.com\/en\/home.html\" style=\"\">Saudi Maritime & Logistics Congress<\/a><\/span><span style=\"font-weight:400;\">, Dammam, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28-30 September (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/transportlogistic.de\/en\/transport-logistic-worldwide\/\" style=\"\">Transport Logistics Middle East<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:700\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>21-22 October (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/globalportsforum.com\/singapore-to-host-gpf\/global-ports-forum-singapore-draft-agenda\/\" style=\"\">Global Ports Forum<\/a><\/span><span style=\"font-weight:400;\">, Singapore.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>26-29 (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aircargoforum.org\/event\/4d30ed99-e73f-4fcd-a160-2701037fad18\/summary\" style=\"\">Air Cargo Forum<\/a><\/span><span style=\"font-weight:400;\">, Miami, US.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>27-29 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.routesonline.com\/events\/285\/routes-world-2026\/\" style=\"\">Routes World<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>2-5 November (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adipec.com\/maritime-logistics\/\" style=\"\">ADIPEC Maritime and Logistics Exhibition and Conference<\/a><\/span><span>, Abu Dhabi, UAE.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Replacement risk builds | KSA on worst-case watch | Holding the strait ajar<\/p>\n","protected":false},"featured_media":93970,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-93969","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"81f36284-96fb-4fbf-94b0-f6c0b8702d3a","teaser":"Replacement risk builds | KSA on worst-case watch | Holding the strait 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