War Reshapes Oil Strategy as Companies Balance Risk and Reward

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…