'Shortsighted and self-destructive'
parakeet::EncoderCache enc_cache;
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The U.S. leads the world in both crude oil and natural gas production, but the top exporters are already shipping near their capacities, allowing them to reap larger profits but not fill the supply gaps caused by the temporary loss of 20% of global oil and liquefied natural gas (LNG) volumes triggered by the effective closure of the Strait of Hormuz near Iran.
The new contract is set to run for five years and is estimated at £27m, far more than the value of the contract awarded to Crawford in 2021, but still significantly less than the amount paid to it over the course of its agreement.