Big oil plows billions into far-flung drilling sites to escape Iran turmoil

Wall Street Journal: Exxon recently outlined a potential plan to pump up to $24 billion into Nigeria’s deep-water oil fields, while Chevron expanded its footprint in Venezuela. BP bought stakes in oil blocks off the coast of Namibia, and TotalEnergies signed an exploration deal with Turkey. Major oil companies could together create $120 billion in value from their exploration ventures in coming years, the energy research and consulting firm Wood Mackenzie estimated Thursday…