The United Arab Emirates’ Habshan-Fujairah pipeline transports oil to a port 70 nautical miles outside the Strait of Hormuz, allowing up to 1.5 million barrels to bypass the chokepoint daily. The Iran conflict’s disruption of Gulf shipping is underscoring a fundamental change in the energy industry: Companies must build in options to withstand geopolitical shocks, according to a top Abu Dhabi National Oil Company (ADNOC) executive.  “Optionality is becoming a must in our business. It's no