The companies are continuing a pursuit of these assets that has lasted decades, seeking to mitigate the impact of chaos and lost production caused by the war. The oil majors are prioritizing the regional prize of vast gas and crude deposits to stabilize future supply, regardless of the ongoing instability.
Wednesday, October 21, 2026
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Oil Majors Pursue Middle East Reserves Despite War
Commodities13 days ago
Shell and BP signaled this week that they are increasing efforts to secure long-term access to energy fields in the world's most prolific oil-producing region. Executives from Shell, BP, TotalEnergies, ConocoPhillips, and Chevron stated that the Middle East's plentiful, low-cost reserves provide a financial benefit that outweighs the heightened security risks of investing during the current conflict.
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