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One tycoon makes millions from 'dark' journeys on a dangerous oil route while others feared Hormuz
Amidst the Persian Gulf war, the UAE secretly navigated its oil exports through the Strait of Hormuz using 'dark' ship transits. Korean shipping tycoon Ga-Hyun Chung's Sinokor Group played a pivotal role, leasing a significant portion of vessels for these risky "shuttle runs." This covert operation allowed the UAE to maintain pre-war export levels, capitalizing on surging oil prices and creating immense profits for Sinokor and its partners.
Oil finds its way: Supertankers return to Persian Gulf
Supertankers are once again navigating the Strait of Hormuz, a crucial oil route, following a period of disruption due to recent Iran conflict. Shipping data indicates a significant increase in commodity vessel traffic, including oil tankers, signalling renewed confidence among shipowners. This return of large carriers, with a combined capacity of millions of barrels, is vital for global energy markets as hostilities ease ahead of peace talks.
Daily domestic LPG output raised by 25%: Petroleum ministry official
India's cooking gas production has risen 25 percent. Refineries are maximizing output to counter supply halts from the Gulf. This boost helps fill a gap caused by the Iran war impacting imports. Households are advised against panic booking. India's crude oil supply remains secure. Additional crude and LNG cargoes are en route to India.