Oil and Gas Companies Look for New Exploitation Locations Outside the Middle East

Oil and gas companies look for new exploitation locations outside the Middle East

Exxon Mobil, Chevron, and BP are pouring billions of dollars looking for new oil and gas fields in areas less exposed to conflict in the Middle East. Iran’s attacks on energy infrastructure in the region and blockage in the Persian Gulf have sparked a global search for oil. Some Western oil and gas companies have […]

War reshapes oil strategy as companies balance risk and reward

Global oil majors are accelerating investments in new drilling prospects outside the Middle East as geopolitical instability reshapes energy strategy, The Wall Street Journal writes.  Companies, including ExxonMobil, Chevron, BP and TotalEnergies, are directing billions toward projects in Africa, South America and the eastern Mediterranean to reduce exposure to conflict-driven disruptions tied to Iran. The shift comes as war in the region has st…