Iran plans new oil terminal to bypass Hormuz

TEHRAN, Iran — A senior official says Iran is planning to build a new oil terminal beyond the strategic Strait of Hormuz.

Akbar Torkan, a senior trade official, is quoted by the semiofficial ISNA news agency as saying Tuesday that the new terminal will be at Bandar Jask port on the Oman Sea. Iran’s sole major crude export terminal is at Khark Island in the Persian Gulf.

Torkan didn’t elaborate, but bypassing Hormuz would be seen as protecting exports from instability in the Gulf.

Iranian officials in the past had threatened to close Hormuz at the mouth of the Gulf, the passageway through which a fifth of the world’s oil flows, if its interests are seriously threatened or it is unable to export oil.

They have not reiterated any threats since 2012.

More in Herald Business Journal

Peoples, HomeStreet banks bump lowest salaries after tax cut

The banks with Snohomish County branches will raise minimum salaries for employees to $15 an hour.

Electroimpact cuts Mukilteo staff by 9 percent

“What we’re missing now is a monster anchor project,” the company’s VP said.

Exotic animals find compassionate care in Bothell (video)

At the Center for Bird and Exotic Animal Medicine, vets treat snakes, hedgehogs and even kangaroos.

How can you tell if you are getting good financial advice?

Assume that it’s still the same buyer-beware market that has always existed.

Amanda Strong (left) tries on an Angel of the Winds Arena hat as she and Courtney Brown hand out gift bags after the renaming ceremony Dec. 13 in Everett. The new name replaces the Xfinity name. (Andy Bronson / Her file)
Angel of the Winds to break ground on $60M casino expansion

“We think we’re on the cusp of becoming a major resort.”

In this Dec. 20, 2017, photo, a clerk reaches to a shelf to pick an item for a customer order at the Amazon Prime warehouse, in New York. (AP Photo/Mark Lennihan, File)
Amazon’s potential HQ2 sites leaves many cities disappointed

And yet, some municipal leaders are looking at the bright side of being rejected.

How do you retrieve an errant Boeing 737 from a muddy slope?

Turkish authorities used cranes to lift a plane that skidded off a runway.

Don’t take economic forecasts to the bank — or the casino

Air travel delays could spur a rebirth of passenger rail service.

Emirates orders 20 more Airbus A380 jumbos, saving program

The Dubai carrier also has options to buy 16 more. The program seems safe until 2029.

Most Read