TotalEnergies CEO Reveals Cost To Move A Supertanker Through Hormuz
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Source: Zero Hedge
Published: 2026-08-25 08:50 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Business, Energy
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Snippet:
The crisis-driven dislocation across Gulf oil markets has positioned French energy giant TotalEnergies SE as an early mover, capitalizing on heavily discounted Persian Gulf crude priced at $50 to $60 a barrel and moving it through the highly contested Strait of Hormuz. CEO Patrick Pouyanné revealed at the Norwegian energy conference on Monday that transiting the waterway now costs roughly $20 million per supertanker.
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