Who has profited most from the war on Iran?
Summary
The recent conflict involving the United States and Israel against Iran has caused energy prices to rise sharply and affected global trade. Meanwhile, some companies, especially in energy and defense, have made significant profits due to these disruptions. Talks are underway to establish a ceasefire and negotiate issues including Iran’s nuclear program and sanctions.Key Facts
- The Strait of Hormuz is a key waterway where about 20% of the world’s oil and natural gas usually passes.
- Fighting and strikes have caused oil prices to spike, reaching up to $126 per barrel before dropping back to around $72.
- Saudi Aramco’s profits rose 25% to $32.5 billion in the first quarter compared to last year, helped by its pipeline bypassing the Strait.
- British Petroleum doubled its first-quarter profits to $3.2 billion, beating analyst predictions.
- Shell reported $6.9 billion in profits despite damage to a major gas plant from regional strikes.
- TotalEnergies made $5.4 billion in first-quarter net income, maintaining exports by using alternative routes.
- US liquefied natural gas (LNG) companies like Venture Global and Cheniere Energy are positioned to benefit from supply shifts caused by the conflict.
- Industry experts say many energy companies outside the immediate Middle East region are likely to profit if high prices continue.
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