Iranian President Hassan Rouhani said that Iran has opened its first oil terminal on the Gulf of Oman, which will allow Tehran to dispense with the Strait of Hormuz as a shipping lane after it has been a focus of regional tensions for decades.
This is an important strategic step for Iran that will ensure the continuation of our oil exports
. Rouhani said in a televised speech
Rouhani made it clear that Iran aims to export one million barrels per day of oil from the port of Bandar Jask on the Gulf of Oman, a little south of the Strait of Hormuz.
The Iranian Oil Ministry website quoted Minister Bijan Zanganeh as saying that the implementation of the Joureh-Jask port project to transport crude oil was carried out with investments amounting to about two billion dollars.
The Strait of Hormuz is a waterway at the entrance to the Gulf through which about a fifth of the world's oil supplies from Middle Eastern producers pass to markets in Asia, Europe, North America and others.
