Iranian Oil Company Reduces Reserves After Strikes on Storage Facilities
The National Iranian Oil Refining and Distribution Company announced that it has taken urgent measures to reduce oil product reserves, confirming that this step is part of a pre-planned strategy to secure sufficient stock and ensure supply stability amid the current conditions.
This came after reports of strikes on fuel storage facilities in three areas, including a garage in western Tehran, according to a source in the Iranian Ministry of Oil.
The company confirmed that despite these strikes, fuel supplies to Tehran and Alborz provinces will continue without interruption, through alternative sources according to the approved emergency plans.
In a related development, Kuwait Petroleum Corporation declared a state of force majeure due to the ongoing conflict in the Middle East, reflecting the regional impact of events on the energy market.
This comes at a time when oil prices are experiencing significant increases, amid fears of the impact on oil trade through the Strait of Hormuz, which has led refineries in Asia to seek alternatives and increase reliance on Russian oil in some countries like China, which depends on Iran for about 13% of its oil imports.
