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Gulf energy producers declare force majeure on oil and gas shipments

→Refiner buyers must secure alternate cargoes now

Supply Chain Security & Defense Oil & Gas
Al Jazeera ·
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Gulf producers declared force majeure on oil and gas shipments after disruptions to shipping through the Strait of Hormuz.
Why it matters
Suppliers are freed from contractual delivery obligations when force majeure is declared for shipments. Buyers cannot enforce delivery claims for shipments covered by declared force majeure.
Implications
  • — Refiner buyers must secure alternate cargoes immediately or risk missing contracted deliveries.

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Al Jazeera
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