Oman considers purchasing two oil tankers for floating storage, as Gulf oil-producing countries seek alternatives to the Strait of Hormuz.

Oman plans to more than double the oil storage capacity at a port outside the Strait of Hormuz, leveraging its strategic location. Middle Eastern energy-producing countries are currently seeking alternatives to bypass this highly sensitive shipping lane. Ashraf Al Mamari, CEO of Oman's state-owned energy company OQ SAOC, said in an interview that the company is evaluating the purchase of two supertankers and leasing them out for use as floating offshore oil storage facilities at Duqm Port. The company also plans to increase its onshore crude oil tank capacity from the current approximately 5 million barrels to 10 million barrels within three years.