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BP expects flat to 5% higher results and cash flow for Q3, despite a $10 per barrel drop in oil prices year-on-year. Production has increased, driven by hydrocarbons and downstream results, but oil trading remains weak. The company is implementing cost cuts amid a focus on oil and gas expansion.
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A former retail space in Taipei is now valued at less than half its previous worth, with Blackstone negotiating loan terms. Meanwhile, renewable energy investments and potential property sales are shaping financial and energy sectors amid geopolitical tensions and climate security concerns.
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ExxonMobil has filed a lawsuit in California to block two 2023 climate disclosure laws, arguing they unfairly target large companies and require speculative reporting. The laws mandate emissions and climate risk disclosures, which ExxonMobil disputes as methodologically flawed and overreaching. California officials defend the laws as transparency measures.
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European energy security faces new challenges as reliance on Russian pipeline gas ends. The U.S. promotes liquefied natural gas exports through Greece, with plans for a gas corridor linking Greece, Bulgaria, and Romania. U.S. officials and Greek leaders emphasize energy abundance and geopolitical importance, amid global calls to reduce fossil fuel exploration.
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Colombia's government has conducted airstrikes that killed at least 12 minors this year, including children forcibly recruited by armed groups. Human rights advocates call for a suspension of strikes to prevent further casualties, as military operations and political tensions continue amid ongoing conflict with dissident rebel factions.
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The Biden administration has announced a plan to open federal waters off California, Alaska, and Florida to oil and gas drilling, including areas never previously touched. The move aims to boost energy security and industry development, despite opposition from environmentalists and some state leaders. The plan proposes multiple lease sales through 2030, with significant political and environmental debate ongoing.
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French authorities detained four individuals linked to the SOS Donbass group, suspecting espionage activities aimed at France. The arrests follow investigations into pro-Russian propaganda and attempts to gather economic intelligence amid heightened tensions over Russia's actions in Ukraine. The case highlights ongoing concerns about Russian influence in Europe.
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Libya's government plans to announce winners of new offshore oil exploration licenses between February and March, aiming to attract major energy companies after years of political instability. The licenses cover promising offshore areas, with Libya holding Africa's largest oil reserves. The country remains divided politically since 2011.
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The UK government has approved £120m support for Ineos at Grangemouth, amid ongoing tensions over energy taxes and industry policies. Meanwhile, Scotland's offshore wind sector faces funding challenges, risking delays and job losses. The stories highlight tensions between industry needs and government climate policies.
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Following the capture of Nicolás Maduro in early January 2026, President Trump announced plans for major US oil companies to invest billions in rebuilding Venezuela's oil industry, which holds the world's largest proven reserves. Despite vast potential, experts warn that decades of mismanagement, sanctions, and infrastructure decay mean revitalization will require years and tens of billions in investment amid political and legal uncertainties.
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Following the capture of Nicolás Maduro, Donald Trump has announced plans to restore Venezuela's oil industry, relying on US companies to invest billions in infrastructure. Experts warn this could significantly increase global carbon emissions and complicate international sanctions.
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Lebanon has signed a deal with TotalEnergies, ENI, and Qatar Energy to explore offshore gas at Block 8, following a 2022 maritime border agreement with Israel. The consortium plans a seismic survey to assess exploration potential, aiming to boost Lebanon's economy amid ongoing regional tensions.