The United Arab Emirates has opened a key overland pipeline that bypasses the Strait of Hormuz, giving the OPEC member insurance against Iranian threats to block the strategic waterway.
The new 380-kilometer pipeline carries oil from fields in the UAE's western desert to the city of Fujairah on the east coast.
With an initial handling capacity of 1.5 million barrels of crude a day, it gives the UAE direct access to the Indian Ocean.
Nearly one-fifth of the world's oil travels though the Strait of Hormuz, which Iran has repeatedly threatened to close in retaliation for sanctions over its controversial nuclear program.
... Payvand News - 07/16/12 ... --