13 Hrs
Source:
الاقتصادية
Rosneft: US firms gain from Strait of Hormuz closure
The CEO of Rosneft, Igor Sechin, stated that American energy companies were the biggest beneficiaries of the closure of the Strait of Hormuz, despite warning that ongoing tensions in this vital passage, which transports nearly one-fifth of global oil supplies, could undermine long-term demand for oil. He explained that the measures taken to close the strait against Iran have led to unexpected benefits for U.S. companies and caused an increase in supply costs, as long-term oil demand declines and there is a growing interest in alternative energy sources.
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