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Saudi to Boost Aramco Storage After Hormuz Disruption

6/19/2026

Summary

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Yasir Al Rumayyan said Saudi Arabia will expand Aramco’s oil-storage capacity after the Hormuz disruption, citing sites in Japan and South Korea and evaluating facilities worldwide.
He reported the Public Investment Fund invested €98 billion in Europe and United Kingdom, but said regulations hinder investments by the fund, Aramco and SABIC.
He noted oil production was about 10 million barrels per day pre-crisis, while pipeline capacity rose from 5.5 million to 7.5 million barrels per day.

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Story summary

Yasir Al Rumayyan said Saudi Arabia will expand Aramco’s oil-storage capacity after the Hormuz disruption, citing sites in Japan and South Korea and evaluating facilities worldwide.
He reported the Public Investment Fund invested €98 billion in Europe and United Kingdom, but said regulations hinder investments by the fund, Aramco and SABIC.
He noted oil production was about 10 million barrels per day pre-crisis, while pipeline capacity rose from 5.5 million to 7.5 million barrels per day.