TotalEnergies Navigates Hormuz Crisis with Discounted Oil and Strong Trading Economics
News Source : Yahoo Entertainment
News Summary
- TotalEnergies SE (NYSE:TTE) is showing that its trading and integrated business model can create opportunities even in a highly disrupted oil market.
- CEO Patrick Pouyanne said the company is still profitably moving crude through the Strait of Hormuz.
- Crude from Iraq and Qatar is reportedly being sold for around $50-$60 a barrel, while Brent was above $90.
- The company plans to invest in alternative export infrastructure, including the Baghdad-Syria pipeline and an expansion of the UAE's Habshan-Fujairah pipeline.
TotalEnergies SE (NYSETTE) is showing that its trading and integrated business model can create opportunities even in a highly disrupted oil market.
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