Seoul: South Korea's crude oil supply remains stable despite renewed tensions in the Middle East, according to the South Korean industry ministry. The ministry has committed to closely monitoring major shipping routes in the region to ensure continued stability.
According to Qatar News Agency, South Korea has secured crude oil equivalent to 110% of last year's levels for July and August, with the figure for September standing at 90%. The Ministry of Trade, Industry and Resources released this information, indicating a proactive approach to managing the nation's energy needs.
The ministry further stated that six oil tankers bound for South Korea have successfully passed through the Strait of Hormuz following a peace memorandum signed by the United States and Iran in June. Three of these tankers have already arrived in the country.
A senior official at the ministry noted that there are no significant concerns over the crude oil supply through September. The official expressed confidence that there would be no major disruptions even if traffic through the Red Sea is blocked.