US companies benefit from Strait of Hormuz disruptions, Rosneft chief says

The main beneficiaries of the Strait of Hormuz crisis have been US oil companies, which gained “noncompetitive advantages” and opportunities to sell supplies at higher prices, Rosneft CEO Igor Sechin said Saturday, Anadolu reports. Speaking at the St. Petersburg International Economic Forum, Sechin said US hydrocarbon exports are “breaking all records.” Citing estimates by Norwegian consultancy Rystad Energy, Sechin said US oil and gas companies could earn more than $60 billion in additional profit in 2026 if oil prices remain around $100 per barrel. “Additional tax revenues from the sector could amount to about $80 billion,” he added. Sechin also argued that China is better prepared than other countries for potential disruptions in the Strait of Hormuz due to what […]