According to information from the Financial Times, Gulf countries have incurred losses of $15 billion from energy sales since the onset of military actions.
According to Kpler, cargoes containing crude oil, petroleum products, and liquefied natural gas worth at least $10.7 billion are blocked in the Strait of Hormuz — they are loaded but cannot reach their destinations.
The most significant impact on the losses has been felt by Saudi Arabia, which, according to Wood Mackenzie, has lost $4.5 billion since the conflict began.
Iraq is among the countries most at risk, as 90% of its government revenue depends on the oil sector. Kuwait and Qatar are also at risk, as they may face supply issues.
According to Wood Mackenzie, oil producers in the region, including Saudi Arabia, Iraq, the UAE, Kuwait, and Bahrain, have postponed sales and tax revenues amounting to $13.3 billion. These revenue losses vividly illustrate the financial consequences of the war for the Gulf states, the publication concludes.
The post Gulf countries' losses from energy resources amounted to $15 billion since the conflict began first appeared on K-News.
