Iran Says It's Close to Resolving Gas Export Issues With Iraq
'We will soon witness the resolution of both issues,' the state-run IRIB News cited Paknejad as saying after meeting with Iraq's Electricity Minister Ziad Ali Fadhil in Tehran.
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Washington Post
25 minutes ago
- Washington Post
13 House Democrats to call on Trump to recognize a Palestinian state
More than a dozen House Democrats have signed a letter urging the Trump administration to officially recognize a Palestinian state, according to a draft seen by The Washington Post. Addressing President Donald Trump and Secretary of State Marco Rubio, the lawmakers write that such recognition is necessary to fulfill the 'legitimate national rights' of Palestinians and 'ensure the state of Israel's survival.' They also express support for removing Hamas, the militant group that controls Gaza, from power. The letter, which had been signed by 13 House Democrats as of early Tuesday, builds on mounting international pressure to recognize a Palestinian state, after three major U.S. allies recently signaled willingness to do so, joining 140-plus U.N. member states that already do so. 'This is the moment for the United States to officially recognize a Palestinian state. All 22 states in the Arab League called for a non Hamas Palestinian state that recognizes Israel,' Rep. Ro Khanna (D-California), who is leading efforts to gather signatories, said in a statement shared by email Tuesday morning. 'We just started outreach this past week and plan to send the letter in September timed with the UN convening. The response has been overwhelming.' The letter was previously reported by Jewish Insider. Khanna said in a town hall video shared on social media that his letter had been leaked and that he suspected the leak was intended to keep other members of Congress from publicly endorsing the proposal. Co-signatories, according to a list shared by Khanna's office, include Greg Casar (Texas), Lloyd Doggett (Texas), Veronica Escobar (Texas), Maxwell Frost (Florida), Al Green (Texas), Jared Huffman (California), Pramila Jayapal (Washington), Jim McGovern (Massachusetts), Chellie Pingree (Maine), Mark Pocan (Wisconsin), Nydia M. Velázquez (New York) and Bonnie Watson Coleman (New Jersey). The letter is unlikely to alter the White House's position. Last week, Trump said he was 'not in that camp,' when asked about the prospect of recognizing Palestinian statehood. 'You're rewarding Hamas if you do that. I don't think they should be rewarded,' he told reporters. As a political issue, the conflict is far more fraught among Democrats, who have been frequently divided since Hamas's Oct. 7, 2023, attack, than among Republicans. Last year, the party's leadership largely staved off threats of disruption from pro-Palestinian delegates at the Democratic National Convention, but divisions within the party have continued to smolder. In June, some Democrats expressed dismay — as others celebrated enthusiastically — when their party nominated Zohran Mamdani, an outspoken critic of Israel, for mayor of New York. At a state level, bitter debates at party meetings point to a growing internal rift between the party's voters and its leaders on the issue. Last month, a Gallup poll found that the share of Democrats who support Israel's military actions in Gaza had dropped to 8 percent, down from 24 percent in September. In December 2023 and January 2024, six Democrats co-sponsored a resolution supporting Palestinian statehood. The letter comes after French President Emmanuel Macron said that Paris will recognize an independent Palestinian state in September at the U.N. General Assembly, writing in a post on social media that 'the urgent priority today is to end the war in Gaza and to bring relief to the civilian population.' Days later, British Prime Minister Keir Starmer said London will also recognize a Palestinian state in September — unless Israel agrees to a ceasefire and commits to a two-state solution. Canada followed, with Prime Minister Mark Carney saying his country would recognize a Palestinian state at the U.N. General Assembly if the Palestinian Authority, which administers parts of the Israeli-occupied West Bank and is seen by most Western and Arab countries as the only viable alternative to Hamas, agrees to certain democratic reforms, including elections in 2026. Israeli Prime Minister Benjamin Netanyahu has said recognizing a Palestinian state under the current geopolitical conditions risks creating another Iran proxy in the region. He has indicated he plans to expand military operations to occupy the entire Gaza Strip as ceasefire negotiations appear to have reached an end, The Post reported.
Bloomberg
25 minutes ago
- Bloomberg
Israel Weighs Full Gaza Takeover Despite Concerns of Armed Forces
Israel is weighing an expansion of its armed presence in Gaza, even as military chiefs and a majority of the public oppose the idea out of concern for the fate of hostages still held by Hamas. Prime Minister Benjamin Netanyahu is considering whether to deploy the Israel Defense Forces into the 25% of the Palestinian territory not already under its control, according to an Israeli official briefed on the matter, who asked not to be identified discussing sensitive information. Some Israeli military leaders have expressed concern about the plan, particularly sending troops into areas they believe contain hostages, the official said.
Yahoo
29 minutes ago
- Yahoo
Up 25% from April lows, are BP shares about to sparkle?
Unless one was brave enough to buy during Covid, BP (LSE: BP.) shares have made for a poor long-term investment. Indeed, the stock is trading at the same level as it was back at the turn of the century. Over the past five years, the company has pursued a muddled strategy. But now it has pivoted back to oil and gas, its latest results released today (5 August) are showing encouraging signs of moving in the right direction. H1 results Compared to Q1, underlying replacement cost profit increased $700m. However, results were mixed across its three main reporting lines. Oil production and operations, saw a $600m decline as a result of lower oil and gas prices, as well as an increased charge for depreciation, depletion and amortisation. A strong gas trading result helped boost profit in gas and low carbon energy. But its standout performer was customer and products, which rose $900m on the back of stronger refining and fuel margins. Operating cash flow more than doubled to $6.3bn. Some of this increase was attributable to an already anticipated decline in working capital build, as peak driving and flying season gets into full swing. Costs Between 2019 and 2024, total costs across the business increased by $10bn to $43bn. 80% of this increase related to variable costs and therefore outside of its control. But that still leaves $2bn of underlying structural cost increases. At its strategy update back in February it set a target of reducing underlying costs by $4bn-$5bn by the end of 2027, relative to 2023. So far in 2025, it has realised $900m in savings, taking total savings since the programme started to $1.7bn. When costs related to growing the business are taken into account, the absolute saving is $500m. By the end of 2025, the business will have reduced its head office workforce by 16%. This is of course a distressing time for individuals but reflects the fact that BPs contractor base had simply got too big. Net debt Although net debt fell by $1bn, to $26bn, it's still a long way short of its $14bn-$18bn range by the end of 2027. Reaching that target will only be achieved if it can secure a buyer for Castrol, its lubricants brand. There's no update on that front yet but I'm buoyed by the fact that the brand's earnings increased 20%. The average price realised for brent crude in the quarter was $67.9, 5% lower than its price assumption laid out back in February. Meeting its target of growing free cash flow at a compound annual growth rate of 20% is very much dependent on its oil price assumptions being correct. Should we move into an era of sustained lower prices and it fails to deliver, the stock will undoubtedly suffer. Oil prices I'm of the view that we're heading into a world of higher energy prices. We've already seen gold prices soar and I believe oil will eventually participate. That's exactly what we saw happen during the inflationary decade of the 1970s. The current macro environment characterised by ballooning US deficits, a falling dollar, rising geopolitical fragmentation and accelerating deglobalisation trends, provide the kind of backdrop that will be highly supportive of energy prices. Personally, I'm bullish on BP and will continue to buy when finances allow. The post Up 25% from April lows, are BP shares about to sparkle? appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Andrew Mackie has positions in Bp P.l.c. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Sign in to access your portfolio
