Overview
- Industry Minister Kim Jung-kwan said Sunday that a crude deal with Kazakhstan is close and details could come early next week.
- He said Saudi Arabia will prioritize Korean cargoes as Seoul prepares to route ships to the Red Sea port of Yanbu.
- The government is weighing naval escorts by the Cheonghae unit’s Dae Joyoung destroyer to protect the Red Sea passage.
- Seven Korean tankers remain stuck at the Strait of Hormuz with about 14 million barrels onboard, which keeps key supplies out of reach for now.
- Officials say secured cargoes, including a 24 million–barrel pledge from the UAE, keep imports near 80% without tapping state reserves, while an 869.1 billion won program aims to lift naphtha supply to roughly 80% in April and May.