American multinational oil and gas titan, rooted in Standard Oil legacy
SpaceX has pledged $100 billion to build a 125,000‑acre Starbase in Vermilion Parish, Louisiana, that it says will support thousands of Starship launches a year, add about 3,000 direct jobs and include propellant production, power generation and deep‑water shipping. Construction is scheduled to start in 2027; SpaceX targets initial launches by 2029 while state officials give a 2030 timeline.
OpenAI has added an Apple Messages plugin to ChatGPT for Mac that can read, search, summarise, draft and send iMessages. The feature is optional, runs on the desktop app and requires user permission; OpenAI says processing happens locally on the Mac but privacy experts, Apple’s on-device privacy stance and some users have raised concerns about message access and authenticity.
Iran reports a new gas discovery in the south of Fars province, with more than 160 billion cubic metres of sweet natural gas. Officials say production could last around 15 years, but Bloomberg suggests full-scale output may take years given sanctions and repairs. Other outlets note the field is not yet in operation.
SpaceX has announced a $100 billion plan to develop a 125,000-acre Starbase Louisiana on Pecan Island, expanding beyond Texas and Florida. The site will host methane production, power generation, deep-water shipping, vehicle processing, and potentially an on-site airport. Construction starts next year, with the first launch expected in 2029, creating more than 3,000 jobs.
The US has agreed with Venezuela’s interim government to create a private joint venture giving the United States effective majority output rights to roughly 65 billion barrels of Venezuelan reserves. The deal promises nearly $100bn in private investment and guarantees oil supplies to refill US strategic reserves, but no contract text or financing details have been released and production gains will take years.
President Donald Trump has ordered the U.S. geographic names database to rename Lake Ontario as “Lake America.” Google has updated Google Maps to show “Lake America” to U.S. users while Canadian users still see Lake Ontario; Apple has not yet changed its maps and MapQuest has refused, triggering a surge in downloads and political backlash.
The United States has secured a long-term deal to gain majority control over Venezuela’s oil reserves, with NABEP-backed operations set to develop 17 fields containing some 65 billion barrels. The arrangement gives the Pentagon-backed stake and rights to output, while Caracas preserves ownership of its resources. Analysts say the move signals a major shift in energy dominance and geopolitics.
Chevron has been assigned additional acreage in Venezuela’s Orinoco Belt and plans a multibillion-dollar investment to boost output, as U.S. deals with Caracas and sector players signal a renewed push into the country’s oil sector. The moves come as oil output in Venezuela remains far below its historic highs.
Oil prices have surged as tensions in the Middle East intensify, pushing Brent above $100 a barrel while U.S. stocks retreat amid higher energy costs. Traders await inflation data and Federal Reserve signals as markets reassess risk.
Saudi Arabia’s East-West pipeline remains shut after drone attacks, with authorities citing precautionary measures. Supplies are being rerouted to mitigate disruption, while markets price in potential longer-term supply risk as regional tensions escalate.
Telon, a London startup, has joined OpenAI's select partner network to help law firms operationalize AI. It hires and trains legal engineers who embed inside legal teams to configure models, write prompts and train lawyers, aiming to close the usage gap in AI tools.
The Supreme Court is evaluating whether federal law preempts state and local lawsuits accusing oil companies of climate-related damages. Boulder, Colorado, leads a wave of cases seeking damages for disaster costs, with ExxonMobil and Suncor among the defendants. The decision could affect dozens of similar lawsuits nationwide.
Boulder County and city officials are pursuing climate-change-related damages against oil companies in a landmark case now before the Supreme Court. The move argues that decades of disinformation about emissions contributed to worsening disasters, including the Marshall Fire that destroyed homes in 2021.
Since mid-October, Ukraine has criticised a US decision to restrict Starshield satellite speeds and has condemned President Trump’s deal to lift temporary limits on Russian diesel exports. Zelenskyy has told EU leaders the Starshield capability has not yet returned to previous levels and has asked the EU for €70bn in defence funding for 2027, while European capitals have publicly reassured Kyiv.
The Justice Department has opened an antitrust inquiry into whether the five-network White House TV pool violated the Sherman Act after the pool paused coverage in protest of the administrations temporary ban on CNN, MS NOW and Politico. A federal judge has restored the outlets White House credentials, but CNN says the White House is still excluding it from Air Force One and pool duties and has warned it will return to court. (As of Wed, 28 Oct 2026 13:39:50 +0000)
Iran warns it will retaliate against any renewed attacks as shipping disruptions in the Strait of Hormuz continue. Tehran says US-Israeli pressure has escalated tensions, while regional diplomacy seeks de-escalation amid talks with Mecca pact states and Mecca alliance discussions.
Gasoline prices have climbed to fresh highs ahead of the election, with national averages and state readings showing sustained weakness in energy markets amid geopolitical tensions and supply concerns. Bloomberg and GasBuddy data indicate prices near multi-year peaks, underscoring ongoing volatility.
Global oil majors have reported booming profits as refined product margins rise and crude prices stay elevated. Analysts see continued pressure on supply from Gulf refinery bottlenecks and sanctions, with US and European firms posting record or near-record quarterly earnings. The cash windfall is shaping debates over energy policy and consumer prices.
Turkey unveils a $500 billion energy plan ahead of COP31, aiming to electrify its economy by 2040 and cut coal reliance, while keeping security of supply. The plan foresees a quadrupling of wind/solar and a shift toward nuclear, with steep investment and questions about a timely coal exit.
Australian authorities designate a deep saline storage site near Darwin to inject CO2 for long-term storage, linking to the Ichthys LNG facility. Inpex leads environmental review; project faces ecological concerns and calls for robust oversight as it seeks to reduce emissions from hard-to-abate sectors.