Rosneft Chief Says US Energy Firms Gained From Hormuz Tensions
Speaking during the St. Petersburg International Economic Forum, Igor Sechin noted that US exports of oil and gas have reached unprecedented levels.
Referring to projections from industry analysts, Sechin said US energy companies could generate more than $60 billion in extra profits during 2026 if crude oil prices remain near $100 per barrel.
"Additional tax revenues from the sector could amount to about $80 billion," he added.
Sechin also contended that China is in a stronger position than many other nations to withstand potential interruptions in traffic through the Strait of Hormuz. He attributed this resilience to Beijing’s long-term planning and diversified strategy for maintaining energy security.
According to his assessment, China’s extensive investments in renewable power and affordable transportation networks have expanded alternatives for consumers, including electric cars, electric buses, gas-fueled trucks, metro systems, electric rail services, and electric taxis.
Concerns over global energy markets intensified after military strikes carried out by the United States and Israel against Iran in February sparked a series of retaliatory actions throughout the region. The developments raised fears about the safety of maritime trade routes and the stability of international energy supplies.
In response, Iran launched attacks against Israel, targeted countries hosting US military facilities, and interfered with shipping activity in the Strait of Hormuz, a key passageway for global oil and gas transport.
Although a ceasefire was eventually implemented, diplomatic efforts aimed at achieving a more comprehensive and lasting resolution have continued since then.
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