Tuesday, 02 January 2024 12:17 GMT

South Korea: Top Presidential Aide To Visit Kazakhstan, Oman, Saudi Arabia To Discuss Securing Crude Oil, Naphtha


(MENAFN- IANS) Seoul, April 7 (IANS) South Korea President Lee Jae Myung's chief of staff said he will depart for Kazakhstan, Oman and Saudi Arabia later Tuesday to discuss ways to secure crude oil and naphtha supplies amid few signs of apparent progress toward a truce in the US-Israeli war with Iran.

The planned visit by presidential chief of staff Kang Hoon-sik to the region comes as the government has been seeking to secure crude oil as the traffic through the Strait of Hormuz has been effectively closed, with US President Donald Trump renewing threats against Iran if Tehran reopens the key oil shipping route.

The government's most urgent priority is to ensure the stable supplies of essential necessities, Kang told reporters, noting that South Korea remains heavily dependent on oil and naphtha supplies imported from the Middle East. Naphtha is a key feedstock widely used in petrochemical and other industries.

"Last month, we agreed to receive 24 million barrels of crude oil from the United Arab Emirates with top priority, and the shipments of crude oil and naphtha are arriving at South Korean ports," Kang said.

Kang also stressed the need to secure alternative sources until the Middle East crisis is fully resolved, vowing to work closely with companies to ensure that high-level consultations with the Middle Eastern countries lead to tangible outcomes, Yonhap news agency reported.

Additionally, Kang said the government is taking measures to ensure the safe passage of 26 South Korean-flagged vessels currently in the Strait of Hormuz while prioritizing the safety of the crew members and taking into account the positions of shipping companies. The vessels remain stranded in the strait since US.-Israeli attacks on Iran in late February.

Kang is set to depart later in the day as a special presidential envoy, along with trade ministry officials and officials from local energy companies.

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IANS

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