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BP Sells 5% Stake In Australia's Newest $35 Billion LNG Project
By Tsvetana Paraskova of OilPrice.com
BP will sell 5% in the $35-billion Browse LNG project in Australia, which Australian energy giant Woodside is looking to progress, the UK-based supermajor told Reuters on Monday.
BP is selling the 5% stake, out of its total of its 44% interest, to South Korea's GS Energy.
“The dilution reflects BP’s disciplined approach to portfolio management by bringing in a committed partner,” BP said in a statement emailed to Reuters.
The Browse LNG project in Australia, proposed by Woodside Energy, entails the Browse to North West Shelf (NWS) Project to deliver natural gas from the Calliance, Torosa, and Brecknock fields to the existing Karratha Gas Plant.
The Browse project proposes to connect the natural gas fields via a 900-kilometre pipeline, connected to two floating production storage and offloading facilities, while a CCS solution has been incorporated into the offshore design.
Production capacity at Browse is planned to be 11.4 million tonnes per annum (LNG, LPG, and domestic gas) and a peak condensate production rate of 50,000 barrels per day.
The project is currently in the concept definition phase, and key activities continue in support of progress towards front-end engineering and design entry, Woodside said last month.
Woodside is the operator of the project with a 30.6% stake in the Browse Joint Venture. Before the BP-GS Energy deal, the British major held 44.33%. The sell-down will reduce BP’s interest in the joint venture to 39%.
Japan Australia LNG (MIMI Browse) Pty Ltd and PetroChina International Investment (Australia) Pty Ltd were the other shareholders in the joint venture before GS Energy joins the project with the 5% stake acquired from BP.
The Browse LNG project may have good chances to pass all pre-development and pre-construction stages in the coming years as Australian and Asian energy demand is rising, while the Middle Eastern crisis has created new energy security concerns among buyers.
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How U.S. Retailers Are Absorbing The Fuel-Price Shock
We have diligently tracked the Gulf-related fuel-price shock hitting the American consumer, with prices rising at the fastest rate in three years, personal savings depleted, and spending still running hot, a trend Goldman flags as increasingly troubling for the broader economy. This cocktail has revived uncomfortable memories of the 1970s: higher energy costs, squeezed households, and a consumer still spending into weakness.
But another important area of coverage is how companies are faring as freight, fuel, and supplier costs, along with tariff pressures, bleed through supply chains.
Early read-throughs from Goldman analysts led by Kate McShane indicate that management teams at major retailers are absorbing higher logistics costs today, but the real risk is that a sustained fuel price shock in the back half of the year could begin to deteriorate margins.
McShane and her team spoke with the IR and management teams of AutoZone, Bath & Body Works, Best Buy, Costco Wholesale, Dick's Sporting Goods, Dollar Tree, and Walmart, focusing on commentary on freight and inflation.
The key read-through is that most of these retailers have so far absorbed higher oil prices, domestic trucking surcharges, ocean freight costs, and supplier cost pressures without a major P&L shock.
However, the warning from several management teams is clear: if elevated costs persist into the back half of the year, the ability to offset them through vendor negotiations, logistics efficiencies, or other creative ways becomes increasingly difficult.
At that point, the risk shifts from manageable cost pressure to margin deterioration, and potentially another round of retail price increases.
Here is McShane's cheat sheet on retailer commentary on freight and inflation:
As oil prices continue to rise and the macro environment remains volatile, we are monitoring 1Q26 earnings for any company commentary on freight and inflation.
Specifically, we are watching for commentary on incremental freight costs and its impact on the P&L, and the company's inflation outlook, and its impact on ticket.
Each week, we will update this chart as companies in our coverage continue to report.
The takeaway is that management teams are still largely framing the energy shock as manageable for now. The next big concern is that elevated fuel and logistics costs through the summer would make it increasingly difficult to absorb and offset costs, likely resulting in either margin pressure or another round of price hikes on consumer-facing goods later this year.
Professional subscribers can read the full Americas Retailer note here at our new Marketdesk.ai portal.
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Mystery Deepens: Remains Of Missing Los Alamos Nuclear Lab Employee Discovered In Forest
Authored by Steve Watson via Modernity,
The body of Melissa Casias has been found in a remote area of New Mexico's Carson National Forest, almost 11 months after the Los Alamos National Laboratory employee walked out of her home and vanished.
This discovery marks another chapter in the disturbing wave of deaths and disappearances involving individuals tied to highly sensitive government programs. It arrives after President Trump ordered full UFO disclosure and two sets of classified files have now been released to the public.
Casias, 54, worked as an administrative assistant at Los Alamos National Laboratory, the historic site of the Manhattan Project and a hub for ongoing nuclear weapons research. She was last seen alive on June 26, 2025, in Ranchos de Taos.
BREAKING: Human remains belonging to a lab employee have been found in the Carson National Forest in New Mexico.
Investigators say a gun was found near the remains of Melissa Casias, who worked at the Los Alamos National Laboratory.
Casias was last seen alive on... pic.twitter.com/kBjzd6QW01
New Mexico State Police confirmed the identification of her remains after a hiker found them in the McGaffey Ridge area. A handgun was recovered alongside the body. The cause and time of death remain undetermined pending further investigation by the Office of the Medical Investigator.
The circumstances of her disappearance raised immediate red flags. Casias left behind her phones and identification after performing a factory reset on both devices, wiping all records of contacts and activity.
Surveillance captured her walking alone eastward on State Road 518 around 2:20 p.m. that day. Her husband, also a LANL employee, and daughter reported unusual behavior that morning involving a claimed forgotten security badge.
Family members and private investigators have maintained that Casias lost her security clearance due to financial troubles and that the disappearance stemmed from personal stress rather than foul play.
New Mexico State Police have indicated it appears she may have left voluntarily. Yet the discovery of her remains in a heavily trafficked forest restoration zone - where crews began active work in December 2025 - has only intensified public scrutiny.
Melissa Casias, Los Alamos National Lab scientist missing since June 26, 2025, has been found dead.
A handgun was recovered right next to her remains.
This matches a strange pattern... roughly half of these cases turned out to be "suicides."
Yeah, suuuure, like Epstein,...
Former FBI Assistant Director Chris Swecker previously expressed concern over the case, noting: "In a classified lab, or just a high clearance lab, they would basically be in the know on what's going on. And it wouldn't be the first time their administrative assistant has been targeted."
Casias was one of several New Mexico-linked individuals with defense and nuclear program connections who went missing under similar conditions. The pattern has drawn nationwide attention since the February 2026 disappearance of retired Air Force Maj. Gen. William Neil McCasland, widely described as a UFO gatekeeper. His vanishing occurred just days after President Trump issued a full disclosure order.
That incident kicked off intensified coverage of a broader series of cases. By mid-April 2026 the tally had reached at least 11.
These reports detail repeated losses among personnel with overlapping expertise in NASA projects, nuclear propulsion, aerospace engineering, JPL rocket technology, and potential UFO-related programs.
From a NASA scientist found charred in a Tesla crash to an aerospace engineer and family killed in a plane incident, the cases accumulated. Speculation around JPL disappearances and experts tied to "dark project secrets" added layers, highlighting vulnerabilities in fields critical to U.S. superiority.
Despite the mounting cases, President Trump has stated the incidents are not connected. In remarks to reporters he said there is "not much of a connection" and expressed hope they represent coincidence involving "a lot of scientists."
NOW - Trump says string of missing and dead scientists are not connected: "There's not much of a connection." pic.twitter.com/BSaOPYDOuo
- Disclose.tv (@disclosetv) April 30, 2026Two major tranches of UFO-related disclosure files have since been released under the Trump administration, giving Americans unprecedented access to previously hidden documents and videos, although it's not clear what many of the footage shows.
Official narratives continue to treat each case in isolation, pointing to stress, personal issues, or unrelated accidents. Yet the clustering of nuclear lab employees, aerospace engineers, JPL rocket scientists, and figures with documented access to classified propulsion and advanced technology programs has left many questioning whether the deep state apparatus is working overtime to protect its secrets even as disclosure moves forward.
Los Alamos remains central to America's nuclear security infrastructure. Administrative staff in such environments routinely handle sensitive information. The pattern now spans multiple states and facilities, with several cases involving wiped devices, abandoned personal items, and sudden, unexplained exits - hallmarks that fuel legitimate concern rather than idle conspiracy.
The discovery of Casias's remains does not close the book. It opens new questions about timing, access, and potential motives at a moment when the American public is finally receiving long-suppressed information on unidentified aerial phenomena and related technologies.
Tyler Durden Mon, 06/01/2026 - 20:05