PetroChina says operations 'overall normal', Strait of Hormuz accounts for about 10% of its supplies

About 10% of PetroChina's crude oil and natural gas supplies are delivered via the Strait of Hormuz, and the company is operating overall as normal, chairman said on Monday. The comment signals limited current operational disruption but highlights a tangible exposure to a geopolitically sensitive choke point that could affect supplies if tensions escalate.

Analysis

About 10% of PetroChina's crude oil and natural gas supplies are delivered via the Strait of Hormuz, and the company is operating overall as normal, chairman said on Monday. The comment signals limited current operational disruption but highlights a tangible exposure to a geopolitically sensitive choke point that could affect supplies if tensions escalate.