3 Chinese ships exit Strait of Hormuz as PetroChina stresses operations stable

As global energy supplies are put under strain by Iranian disruption to shipping through the Strait of Hormuz, state-owned Chinese oil giant PetroChina has said its overall operations remain stable because most of its imports do not pass through the strait.However, the company’s investment operations in the Middle East had been “impacted to varying degrees”, as crude oil and natural gas imported through the strait accounted for about 10 per cent of its total operating volume, PetroChina chairman Dai Houliang said at its annual results conference in Hong Kong on Monday.“The situation in the Middle East has exceeded many people’s expectations since late February,” he said, noting that self-produced resources, imports from outside the Middle East, and long-term contract supplies accounted for more than 90 per cent of PetroChina’s oil and gas volume.Foreign Ministry spokeswoman Mao Ning told a regular news conference in Beijing on Tuesday that following coordination with “relevant parties”, three Chinese vessels – which she did not name – had recently transited the Strait of Hormuz.Mao expressed gratitude for the assistance “provided by the relevant parties” and called for a ceasefire in the Gulf region “as soon as possible”.Vessel tracking data showed that two Chinese container ships transited the strait on Monday, while Iran solidified its control over the strategic chokepoint by legislating transit fees.