BP won’t sail Strait of Hormuz

Source: Business Insurance

July 31, 2019 U.K.-based BP P.L.C. will not take any of its oil tankers through the Strait of Hormuz in the Persian Gulf after Iran attempted to seize one of its vessels on July 10, Hellenic Shipping News reported citing sources. Brian Gilvary, chief financial officer of BP, said that the energy giant is currently using chartered tankers to ship oil out of the region.