Phillips 66 CEO Mark Lashier warned of greater refining and petrochemical earnings volatility from Hormuz disruptions

Phillips 66 Chairman and CEO Mark Lashier issued a clear warning on June 24, 2026, at the Reuters Global Energy Forum in New York: refining and petrochemical earnings face greater volatility due to ongoing uncertainty from disruptions in the Strait of Hormuz. Lashier highlighted how uncertainty in crude supply and shipping lanes causes refining margins […]

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Iraq is joining other Gulf States and Countries in planning on life with a Closed Hormuz Iraq is joining other Gulf States and Countries in planning on life with a Closed Hormuz

Iraq is rapidly expanding alternative oil export routes to reduce its heavy dependence on the Strait of Hormuz, aligning with long-standing strategies by Saudi Arabia and the United Arab Emirates. Even as some reports suggest potential easing of disruptions in the waterway, Baghdad is treating diversification as a permanent strategic priority rather than a temporary […]

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