The American energy companies are among the biggest beneficiaries from the crisis in the Straits of Hormuz, according to the managing director of Rosneft, Igor Sechin, who argued that the recent developments are reshaping the global energy flows in favor of the United States.
Speaking at the St. Petersburg International Economic Forum, Sechin stated that the disruption of navigation in the most important energy passage of the planet, through which about 20% of the global oil trade passes, created conditions of increased profitability for the American oil and LNG export companies.
"The basic beneficiaries were of course the American companies, which acquired non competitive advantages and the capability to dispose higher cost production in the market," he stated characteristically.
The data of the international markets show that the US found themselves in a particularly advantageous position.
What the data say
According to data from Reuters, the exports of American crude towards Asia increased to 2.05 million barrels daily, while the predictions for the coming months exceeded 3 million barrels daily, as large Asian economies were looking for alternative sources of supply against the disruptions of flows from the Persian Gulf.
With prices close to 100 dollars per barrel, this increase translates into additional annual turnover that can exceed 35 billion dollars only from the extra exports of crude oil towards the Asian markets.
At the same time, the higher international prices significantly increase the profit margins of the American shale oil producers, whose extraction cost is significantly higher than that of the producers of the Middle East.
Of particular importance is the estimation of Rystad Energy, which Sechin invoked, according to which the American oil and gas companies could reap more than 60 billion dollars additional profits inside 2026 provided that the oil prices are maintained at levels close to 100 dollars per barrel.
This is an amount that corresponds to about 15% of the total net profits recorded by the largest American energy companies during the particularly profitable years of the crisis of 2022-2023.
A corresponding picture is recorded also in the gas market.
Qatar, one of the most important suppliers of LNG globally, depends nearly exclusively on the passage through the Straits of Hormuz.
The restrictions on transports from the region strengthened the demand for American LNG in Europe and Asia, allowing the American export groups to dispose larger quantities at higher prices.
The profits from shares
The crisis strengthened at the same time also the stock market value of the American energy sector.
The investors discounted increased cash flows and higher profitability for companies such as ExxonMobil, Chevron, and the large shale oil producers, leading to a significant rise in the valuations of the sector.
For the Russian side, these data confirm that the rearrangement of global energy flows operates in favor of the United States.
The reduction of supplies from the Middle East, in combination with the higher energy prices, allowed the American companies to increase both their market shares and their profitability, reaping tens of billions of dollars of additional revenues from a crisis that burdens the largest part of the global economy.
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