Items Tagged with 'oil and gas industry'

The Strait of Hormuz is normally responsible for moving roughly 20% of the world’s oil supply has not been officially shut down in a legal sense. Instead, it has become functionally impassable for much of global shipping, creating the same supply shock as a formal closure. For global energy markets, and for the supply chains that depend on them, the impact is identical: constrained supply, rising prices and widespread uncertainty.

While no one is sure yet how Iran will respond, concerns are rising that will directly impact the PHCP-PVF supply chain, specifically markets related to oil and gas. Retaliation could target U.S. forces or allies in the Middle East, especially near the Strait of Hormuz, which would threaten global oil flow. 

On a recent episode of the American Supply Association’s Town Hall Interview Series, ASA Vice President of Sales and Membership Mike Miazga dove into the latest oil and gas happenings with Mike Sommers, president and CEO of the American Petroleum Institute. 

Oil and gas OEM enters into restructuring support agreement with lenders, reduces leverage substantially.