South Korea says secures 273 million barrels of crude oil

South Korea has secured 273 million barrels of crude oil from the Middle East and Kazakhstan through the end of the year, with supplies routed outside the Strait of Hormuz.



Asia's fourth-largest economy has also secured 2.1 million metric tons of naphtha over the same period, according to a press briefing following the visit a special presidential envoy to Kazakhstan, Oman, Saudi Arabia and Qatar over the past week.



Saudi Arabia had agreed to ship about 50 million barrels of crude oil already allocated to South Korean companies, using alternative ports near the Red Sea in April and May.



Riyadh had also pledged to prioritise South Korean companies in allocating and shipping 200 million barrels of crude oil between June and the end of the year, and promised to supply as much naphtha as possible through year-end, including 500,000 tons requested by South Korea's government.