The U.S. Supreme Court has agreed to hear a high-stakes appeal from major energy companies including Chevron Corp. $CVX and Exxon Mobil Corp. $XOM concerning climate liability lawsuits brought by Louisiana coastal parishes. The litigation centers on decades of alleged environmental degradation tied to oil and gas production—specifically in Plaquemines and Cameron Parishes—amid claims that these activities exacerbated coastal erosion and climate vulnerability.

Elliott Management, a well-known activist investment firm, has engaged in a series of discussions with BP’s major shareholders. These meetings aim to build a consensus on the need for strategic changes within the oil giant. Proposed measures include cost reduction initiatives and the potential change in leadership, setting the stage for significant operational and managerial transformations at BP.