US Oil Companies Reap USD60B Windfall from Hormuz Crisis

(MENAFN) US oil companies have emerged as the primary beneficiaries of the Strait of Hormuz crisis, having gained what Rosneft CEO Igor Sechin described as "noncompetitive advantages" and the ability to sell supplies at inflated prices.

Speaking Saturday at the St. Petersburg International Economic Forum, Sechin said US hydrocarbon exports are "breaking all records."

Drawing on estimates from Norwegian consultancy Rystad Energy, Sechin said US oil and gas companies stood to pocket more than $60 billion in additional profit in 2026 should oil prices hold near $100 per barrel.

"Additional tax revenues from the sector could amount to about $80 billion," he added.

Sechin further argued that China is better positioned than any other nation to weather potential disruptions in the Strait of Hormuz, crediting what he described as a balanced approach to energy security and disciplined long-term state planning. He pointed to China's substantial investments in renewable energy and low-cost transportation infrastructure as having equipped consumers with a broad range of alternatives, including electric vehicles, electric buses, gas-powered trucks, metro systems, electric trains, and electric taxis.

The regional crisis escalated following US and Israeli strikes on Iran in February, which set off a cycle of retaliatory attacks across the region, stoking widespread alarm over the security of global shipping lanes and energy supplies. Iran subsequently struck Israel and targeted nations hosting US military bases, while simultaneously disrupting maritime traffic through the Strait of Hormuz — one of the world's most critical energy transit corridors.

A ceasefire eventually took hold, though diplomatic efforts to broker a comprehensive regional settlement remain ongoing.

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