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Great Britain faces potential electricity shortages during a near-total solar eclipse expected to eliminate significant solar power generation while demand surges due to summer heat.
BP has appointed Ian Tyler as permanent chair, replacing Albert Manifold who was controversially removed after eight months in the role amid governance concerns.
North Sea oil and gas industry calls for early scrapping of windfall tax by 2027, citing need for investment as energy bills expected to hit three-year highs this winter.
Treasury Secretary Scott Bessent stated the Strait of Hormuz will become economically irrelevant within two years, as the U.S. reduces reliance on Persian Gulf oil through domestic production and Canadian imports.
Drone strikes have forced Saudi Arabia to shut its East-West Pipeline, a critical backup route for oil exports, while Iran-aligned Houthi forces threaten another vital shipping corridor in the Red Sea.
Kazakhstan plans to significantly increase natural gas imports from Russia, tripling purchases to meet surging domestic demand, though potential new US sanctions could complicate the deal.
