economy
Naval escorts will likely be needed when Strait of Hormuz reopens, Chevron CEO says
Updated on: April 24, 2026 / 9:59 PM EDT / CBS News
TL;DR
- Chevron CEO Mike Wirth anticipates the need for naval escorts for oil tankers.
- These escorts will be necessary when the Strait of Hormuz reopens.
- Chevron plans to resume operations in the region.
- Security concerns in the Strait of Hormuz are evident.