Borouge exports rebounded in Q3 as it developed new routes to bypass the Strait of Hormuz for its exports. Total sales volumes of 1.07mn tons were up 22% from 873,000 tons the previous quarter.
“With our partners, we have been able to supply and export all the quantities that you have seen without going through the Strait of Hormuz,” CEO Hazeem al-Suwaidi told investors on a 29 October earnings call. However, absent Hormuz, sales volumes remain limited and were down 21% year-on-year. (CONTINUED - 109 WORDS)