Chevron Won’t Pay Toll to Move Ships Through Hormuz, CEO Tells Bloomberg TV

Crude Oil Shipments In The Persian Gulf

(Reuters) – U.S. oil and gas major Chevron will not consider paying a toll to move ships through the Strait of Hormuz, CEO Mike Wirth told Bloomberg TV on Friday.

Wirth also said several vessels that transit through the Strait of Hormuz have been attacked in recent days.


Get the Latest US Focused Energy News Delivered to You! It’s FREE:


Perhaps not every day, but there have been “multiple incidents,” he said.

Chevron currently has six vessels under charter – belonging to a third party – in the waterway, Wirth said. It will be the ship owner who decides whether or not to move through the strait, he said.

Wirth also told Bloomberg TV that ship owners and insurers would have to feel comfortable to move oil through the Strait again. They also have to be willing to send ships back into the strait for trade to get back to normal, but they may not be willing to move all of their vessels back in, he said.

Reporting by Vallari Srivastava in Bengaluru; Editing by Diti Pujara

Share This:


More News Articles

 

  • Related Posts

    Top US Refiners See Profits Soar, Step Up Investor Rewards

    By Nicole Jao Top refiners post combined second-quarter profit of $12.6 billion Capital returns to shareholders hit $6.3 billion in second quarter TD Cowen sees Marathon and Valero each repurchasing…

    BofA to Plow $250 Billion Into Critical Infrastructure Projects

    By Paula Seligson and Katherine Doherty Bank of America Corp. unveiled a $250 billion initiative to invest in critical infrastructure across the US over the next year, joining its peers…

    Have You Seen?

    Bessent Says Strait of Hormuz Obsolete Within Two Years

    • September 2, 2026
    Bessent Says Strait of Hormuz Obsolete Within Two Years

    U.S. Shale Producers Lose Bid to Kill Oil Price-Fixing Case

    • September 2, 2026
    U.S. Shale Producers Lose Bid to Kill Oil Price-Fixing Case

    U.S. Crude Inventories Drop amid Continued SPR Draws

    • September 2, 2026
    U.S. Crude Inventories Drop amid Continued SPR Draws

    U.S. Energy Secretary Says Venezuela Could More Than Double Oil Production

    • September 2, 2026
    U.S. Energy Secretary Says Venezuela Could More Than Double Oil Production

    Hormuz Shipping Slumps as U.S.-Iran Strikes Rattle Oil Markets

    • September 2, 2026
    Hormuz Shipping Slumps as U.S.-Iran Strikes Rattle Oil Markets

    Russia Doubles Dark Fleet to Ship LNG to Asia

    • September 1, 2026
    Russia Doubles Dark Fleet to Ship LNG to Asia

    U.S. Energy Storage Capacity Installations Hit Record High in Q2

    • September 1, 2026
    U.S. Energy Storage Capacity Installations Hit Record High in Q2

    Asia Spot LNG Prices Hit 5-Month High as Hormuz Blockage Drags On

    • September 1, 2026
    Asia Spot LNG Prices Hit 5-Month High as Hormuz Blockage Drags On

    U.S. Oil Deal Pushes China and Russia Out of Venezuelan Fields

    • September 1, 2026
    U.S. Oil Deal Pushes China and Russia Out of Venezuelan Fields

    Europe’s Wind Power Buildout Jumps 30% in First Half

    • September 1, 2026
    Europe’s Wind Power Buildout Jumps 30% in First Half