BP

BP is a multinational oil and gas company. Recent news highlights several aspects of its operations and their impact. Firstly, the company is facing legal action from environmental groups regarding a new ultra-deep oil drilling project in the Gulf of Mexico, drawing parallels to the Deepwater Horizon disaster. Secondly, BP is expected to report "exceptional" earnings from its oil trading desk due to the volatility in energy markets caused by the US-Israeli war on Iran and the closure of the Strait of Hormuz. This conflict has led to rising oil prices and concerns about fuel shortages, particularly affecting the aviation sector in Europe, with some airports facing restrictions. Fuel prices have surged, especially in Northern Ireland. The situation is further exacerbated by Donald Trump's threats against Iran, causing further oil price spikes. These events have prompted calls for windfall taxes on oil companies due to "obscene war profits."