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

Camano artist mixes flask, paintings for successful cocktail

Art flasks prove popular as bachelorette gifts, birthday presents and wedding favors.

Small retailers aim for emotional ties big chains may lack

“Put yourself into the community more and the money will come back to you.”

A look at what some stores have planned for Black Friday

With unemployment low, stores are hoping customers are in a mood to shop.

Boeing bolsters team for potential 797 with leading engineer

Terry Beezhold has been chief project engineer for the 777X program.

Uber paid off their hackers — they’re far from the only ones

“More and more companies have their own Bitcoin wallets for such cases.”

Airline defendants to pay $95 million in 9/11 settlement

The litigation claimed that security lapses led the planes to be hijacked in the Sept. 11 attacks.

Trump SoHo to shed ‘Trump’ amid reports of sagging business

The president’s company said it would have no comment beyond its news release announcing the move.

Uber reveals cover-up of hack affecting 57M riders, drivers

Uber acknowledges paying the hackers $100,000 to destroy the stolen information a year ago.

Mountlake Terrace-based 1st Security Bank wasn’t traded publicly during the recession, but it has seen a steady growth since the recession. (Jim Davis / HBJ)
How stocks in local banks fared since the recession

Every bank was hit hard during the recession, but most have bounced back in a big way.

Most Read