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*Business Times - 01 Jul 2008*
*Kuwait gets ready in case Iran shuts Gulf oil route*
(KUWAIT) Kuwait is developing precautionary plans to ensure oil exports
in case Iran closes the vital Gulf oil route, state news agency KUNA
yesterday quoted an official as saying. 'There are precautionary plans
to export Kuwaiti crude in cooperation with the Gulf Cooperative Council
but those plans are not finalised yet,' KUNA quoted Saad al-Shuwaib,
head of state oil company Kuwait Petroleum Corp (KPC) as saying. He gave
no more details.
Iran's Revolutionary Guards said Tehran would impose controls of
shipping in the vital Gulf oil route if Iran was attacked, Guards
commander-in-chief Mohammad Ali Jafari told an Iranian newspaper on
Saturday.
'If any military tensions occur oil prices will reach US$200,' said
KPC's Mr al-Shuwaib\. \-- Reuters
.
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