Gulf Producers Say Importers Should Share the Cost of Hormuz Workarounds

AI Summary

Executives from major Gulf oil producers are calling for importing countries to help fund alternative routes around the Strait of Hormuz and expanded storage closer to consumers. Saudi Aramco CEO Amin Nasser said the cost of attacks and energy-security risks is global, while noting that Saudi systems are coping.

The top executives of some of the biggest Gulf oil-producing companies called for external investments into new routes to bypass the Strait of Hormuz and create and expand crude and fuel storage capacity outside the region and closer to consumers. “While the Kingdom is capable and confident, and its systems are coping, no country should face this alone,” Saudi Aramco’s CEO Amin Nasser said at the 2026 Energy Intelligence Forum in London this week. “Every attack comes with a global price: weaker energy security, greater market…