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Shell Being Extremely Cautious About Middle East Shipping, Watching for US Military's Decision
Shell CEO Wael Sawan said that the escalating conflict between Israel and Iran has intensified uncertainty that is already at a heightened level in the region. The company will exe...
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Shell Being Extremely Cautious About Middle East Shipping, Watching for US Military's Decision
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Shell CEO Wael Sawan said that the escalating conflict between Israel and Iran has intensified uncertainty that is already at a heightened level in the region. The company will exercise extreme caution when transporting goods through the Middle East to ensure it doesn't take on any unnecessary risks.

Currently, about 20% of the world's oil and fuel pass through the key Middle Eastern waterway, the Strait of Hormuz. As this strait is the lifeline of global energy transport and any disruption would have a huge impact on global trade, Sawan stressed that Shell is closely monitoring the possibility of US military action and has already developed contingency plans in case the situation deteriorates.

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