LONDON: Middle East oil producers face a reckoning. The Iran war exposed the dangers of relying on a single chokepoint for vital oil and gas exports, leaving Gulf governments with a clear strategic imperative: diversify – at all costs. An Iranian blockade of the Strait of Hormuz had long been viewed as a “Doomsday” event that would never happen. Experts assumed it would require a massive military effort and that Tehran would be reluctant to choke off its own exports. Those assumptions were proven painfully wrong.

Tehran may be losing the export battle but its capacity to hamstring the global economy remains unchecked

Oil and gas majors have high hopes for a quick reopening of the Strait of Hormuz, but they have few illusions about a return to normal for the Gulf energy industry after more than…

The world’s oil and gas majors have high hopes for a quick reopening of the Strait of Hormuz, but they have few illusions about a return to normal for the Gulf energy industry…

LONDON: Middle East oil producers face a reckoning. The Iran war exposed the dangers of relying on a single chokepoint for vital oil and gas exports, leaving Gulf governments…