Aramco Seeks New Export Routes Amid Houthi Red Sea Blockade

Saudi Aramco is searching for new export routes to bypass the Red Sea blockade imposed by Yemen's Houthi rebels. The blockade has increased pressure on Saudi oil flows, with Iran's closure of the Strait of Hormuz also impacting exports.

Aramco currently uses three routes: the Strait of Hormuz, Bab Al Mandeb strait, and the Mediterranean through Egypt's Sumed pipeline and Suez Canal. The company is studying an expansion of its East-West pipeline and exploring new export routes to reduce reliance on Gulf terminals.

The Houthi embargo has not affected Aramco's west coast facilities, where 5 million barrels per day of crude are being exported. Aramco's president Amin Nasser said the company can restore damaged facilities six times faster than the industry average and return to pre-conflict production within days.

Aramco reported a second-quarter net profit of $32.7 billion, up 42% from last year. Adjusted net income rose 33%, while capital spending increased by $700 million to $13.2 billion.