Trump says he will declare Strait of Hormuz US territory Army tanks cut firebreaks as wildfires spread in western Europe Moscow rejects Black Sea truce as port strikes go on At least five killed as 7.7 quake collapses buildings on Flores Congo's Ebola outbreak reaches a sixth province as deaths pass 2,100 Israel to hand West Bank policing to police as Qusra siege holds Oil posts sharp weekly gain as Hormuz blockade holds Colombia searches for hundreds missing as quake toll passes 285 Nvidia scales back its $250bn backstop for OpenAI data centres RSF attack kills at least 14 civilians in North Kordofan Houthi missiles kill at least four at Yemen's Mokha port Kushner to visit Israel after Netanyahu rejects Hamas disarmament plan Jane Street books about $15bn loss after Situational Awareness slump One levee breach sealed after Henan floods US retail sales slump as 30-year yields hit 25-year high Taliban mark five years in power as Kabul courts Washington Russian regions ration fuel after strikes on refineries Hezbollah rejects US framework as Beirut seeks withdrawal date Russian campaign against Moldova detailed as Poland detains murder-plot suspect Zambia halts presidential vote count after attacks on poll workers Record rain east of Tokyo kills at least five, thousands stranded at Narita SpaceX closes $60bn takeover of Cursor France's top court strikes down social media ban for under-15s Europe's drought brings harvests forward and cuts river power Takaichi sends Yasukuni offering on 81st surrender anniversary PayPal in talks to sell itself to Stripe and Advent Taiwan simulates an internet blackout as US trains its coastguard US questionnaire tests NATO allies' support for Trump before troop cuts Venezuela frees 131 political prisoners after first talks round Indonesia to shut more than 750 state firms UN warns food aid for 650,000 South Sudan refugees could stop US urges Apple not to buy Chinese memory chips Anthropic quarterly revenue passes $11.5 billion BP and Abu Dhabi's XRG take Venezuelan offshore gas licence Spain and Morocco reinforce Ceuta border before crossing call Beijing rejects US report on rerouted Chinese exports White House enlists private firms to hack foreign cybercriminals NATO jets shoot down drone over Latvia China calls US drone tariffs lose-lose as DJI wins new hearing Ukraine's grain exports fall 70 percent as Black Sea trade stalls China's humanoid robot push widens as robot games quadruple in size Marcos says China oil talks have moved forward despite maritime row Etna ash keeps Catania airport shut, more than 1,000 flights cancelled Chinese lab Z.ai releases coding model targeting US rivals Apple alerts iPhone users in 110 countries to spyware Yen resumes slide as traders rebuild short positions Blackout hits four Central Asian countries at once Invasive urban mosquito drives malaria rise in Africa US shifts to sanctions rather than force against Cuba Egypt examines legal questions on joining Mecca defence pact Data centre projects hit power delays and a US subpoena AI export boom lifts Taiwan and Hong Kong growth forecasts France puts tax portal breach at 678,000 users Mangione pleads guilty to shooting UnitedHealthcare chief China backs Moscow on Kurils after Putin's island visit Quantum networking records set in China and Germany Record Dax profits coincide with German industrial job cuts Trump family crypto venture wins preliminary approval for bank charter Singapore criminalises AI-generated intimate images China's Ecological and Environmental Code takes effect Lula's lead over Flávio Bolsonaro narrows before Brazil's election Russian stock indices end week lower as ruble weakens Iran-aligned Iraqi militia warns against forced disarmament China reports 522,000 new Covid cases in July Azerbaijan overtakes Russia as Türkiye's biggest pipeline gas supplier Son of Mexico's former president says US revoked his visa US tells Canada to end retaliation or face new tariffs Farage wins back Clacton seat as standards inquiry resumes US immigration agency issues electrified gloves to its officers Toxic gas leak kills eight at Bangladesh shipbreaking yard Trump says he will declare Strait of Hormuz US territory Army tanks cut firebreaks as wildfires spread in western Europe Moscow rejects Black Sea truce as port strikes go on At least five killed as 7.7 quake collapses buildings on Flores Congo's Ebola outbreak reaches a sixth province as deaths pass 2,100 Israel to hand West Bank policing to police as Qusra siege holds Oil posts sharp weekly gain as Hormuz blockade holds Colombia searches for hundreds missing as quake toll passes 285 Nvidia scales back its $250bn backstop for OpenAI data centres RSF attack kills at least 14 civilians in North Kordofan Houthi missiles kill at least four at Yemen's Mokha port Kushner to visit Israel after Netanyahu rejects Hamas disarmament plan Jane Street books about $15bn loss after Situational Awareness slump One levee breach sealed after Henan floods US retail sales slump as 30-year yields hit 25-year high Taliban mark five years in power as Kabul courts Washington Russian regions ration fuel after strikes on refineries Hezbollah rejects US framework as Beirut seeks withdrawal date Russian campaign against Moldova detailed as Poland detains murder-plot suspect Zambia halts presidential vote count after attacks on poll workers Record rain east of Tokyo kills at least five, thousands stranded at Narita SpaceX closes $60bn takeover of Cursor France's top court strikes down social media ban for under-15s Europe's drought brings harvests forward and cuts river power Takaichi sends Yasukuni offering on 81st surrender anniversary PayPal in talks to sell itself to Stripe and Advent Taiwan simulates an internet blackout as US trains its coastguard US questionnaire tests NATO allies' support for Trump before troop cuts Venezuela frees 131 political prisoners after first talks round Indonesia to shut more than 750 state firms UN warns food aid for 650,000 South Sudan refugees could stop US urges Apple not to buy Chinese memory chips Anthropic quarterly revenue passes $11.5 billion BP and Abu Dhabi's XRG take Venezuelan offshore gas licence Spain and Morocco reinforce Ceuta border before crossing call Beijing rejects US report on rerouted Chinese exports White House enlists private firms to hack foreign cybercriminals NATO jets shoot down drone over Latvia China calls US drone tariffs lose-lose as DJI wins new hearing Ukraine's grain exports fall 70 percent as Black Sea trade stalls China's humanoid robot push widens as robot games quadruple in size Marcos says China oil talks have moved forward despite maritime row Etna ash keeps Catania airport shut, more than 1,000 flights cancelled Chinese lab Z.ai releases coding model targeting US rivals Apple alerts iPhone users in 110 countries to spyware Yen resumes slide as traders rebuild short positions Blackout hits four Central Asian countries at once Invasive urban mosquito drives malaria rise in Africa US shifts to sanctions rather than force against Cuba Egypt examines legal questions on joining Mecca defence pact Data centre projects hit power delays and a US subpoena AI export boom lifts Taiwan and Hong Kong growth forecasts France puts tax portal breach at 678,000 users Mangione pleads guilty to shooting UnitedHealthcare chief China backs Moscow on Kurils after Putin's island visit Quantum networking records set in China and Germany Record Dax profits coincide with German industrial job cuts Trump family crypto venture wins preliminary approval for bank charter Singapore criminalises AI-generated intimate images China's Ecological and Environmental Code takes effect Lula's lead over Flávio Bolsonaro narrows before Brazil's election Russian stock indices end week lower as ruble weakens Iran-aligned Iraqi militia warns against forced disarmament China reports 522,000 new Covid cases in July Azerbaijan overtakes Russia as Türkiye's biggest pipeline gas supplier Son of Mexico's former president says US revoked his visa US tells Canada to end retaliation or face new tariffs Farage wins back Clacton seat as standards inquiry resumes US immigration agency issues electrified gloves to its officers Toxic gas leak kills eight at Bangladesh shipbreaking yard

Symbolic image: BP and Abu Dhabi's XRG take Venezuelan offshore gas licence

Symbolic image

BP and Abu Dhabi's XRG take Venezuelan offshore gas licence

3 sources

BP, Abu Dhabi's XRG and Qatar's UCC have won the licence for phase two of Venezuela's offshore Loran gasfield, among the first large foreign investments since the US ousted Nicolás Maduro in January.

XRG, Adnoc's international investment arm, said on Thursday, 13 August that it holds an equal share with BP and UCC in a field with more than 4 trillion cubic feet of proven gas. The licence came almost four months after BP agreed with the Venezuelan government to explore gas development; BP's chief executive Meg O'Neill called it "an important step forward" in the company's work with Caracas. XRG says its stake still needs definitive arrangements and regulatory approvals.

Partners with White House ties

UCC belongs to the Al-Khayyat brothers, Syrian-born billionaires building a resort in Albania with Ivanka Trump and Jared Kushner; XRG's parent Adnoc is run by UAE industry minister Sultan Al Jaber, who in 2025 promised Trump $440bn of Emirati investment in US energy within a decade.

Majors edge back

Shell took the first-phase licence earlier this summer and Eni is in talks with Caracas, while output has climbed to 1.2m barrels a day since the US seized control of the industry.

Prisoners freed

Venezuela has released 131 political prisoners.

Other opinions

The National frames the licence as portfolio growth for XRG in Latin America and never mentions Trump; the Guardian leads on the partners' Trump ties.