Reuters reported that the United Arab Emirates is to start loading crude for export from outside the Gulf for the first time on July 1st 2012 with its new pipeline bypassing the Strait of Hormuz due to pump a million barrels into its Fujairah terminal from Thursday.

Industry sources said that from 0930 oil has been received at the main oil terminal in Fujairah. 1 million barrels per day is coming in the plan is to load the first oil tanker around July 1st 2012.

Another industry source confirmed that oil started flowing into the terminal, which reduces the UAE's reliance on the narrow strait.

Source - Reuters

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