South Korea Nears Kazakhstan Crude Oil Deal

South Korea is close to signing a crude oil supply agreement with Kazakhstan to diversify away from Middle East sources.
Industry Minister Kim Jung-kwan said volumes and logistics will be announced next week after a diplomatic mission led by Staff Kang Hoon‑sik.
The deal aims to cut reliance on Middle East, which supplies 70% of South Korea’s oil, and mitigate Hormuz Strait disruption risks.
Previously, South Korea secured a 24‑million‑barrel crude pledge from the UAE, underscoring its “Safe Passage” supplies despite 50‑60 day transit from Kazakhstan.