Global Roundup: Lunar Mining Costs High, BP Exits North Sea, Iran Delays Talks

Earth-based helium-3 extraction remains far more economical than proposed lunar mining operations, according to a new analysis. A graphic created by Visual Capitalist in partnership with Pulsar Helium compares potential sources by cost, scalability, and accessibility. Tritium decay from nuclear stockpiles is an existing Earth source, while Pulsar Helium aims to access terrestrial helium deposits using technology similar to natural gas drilling. Lunar regolith mining, while theoretically highly scalable, currently has very low accessibility and no operational logistics, making it uncompetitive with Earth-based sources for the foreseeable future.

In corporate strategy, BP is considering a sale of all or part of its UK upstream portfolio, which could fetch around £2 billion ($2.7 billion), according to OilPrice.com. Talks with Ithaca Energy recently fell through. The move aligns with BP's strategic pivot in early 2025 back to upstream oil and gas and its goal to reach $20 billion in divestments by the end of 2027. The company sold $5.3 billion in assets in 2025 and guides for another $9–10 billion in 2026.

Rystad Energy views the potential UK sale as consistent with BP shifting attention to regions with greater growth potential. The UK saw no exploration wells drilled in 2025 for the first time since 1964. BP's exploration focus is now elsewhere, highlighted by the giant Bumerangue discovery in Brazil in 2025, estimated to hold 8 billion barrels of liquids in place. Since 2025, BP has discovered about 2.7 billion barrels of oil equivalent in recoverable resources net to the company, according to Rystad Energy.

Geopolitical tensions flared as Iran delayed the start of negotiations over a permanent peace deal with the U.S., according to Rigzone. The delay followed an intensification of fighting in southern Lebanon. Such disruptions in the Middle East historically contribute to volatility in global oil markets, which can impact pricing and investment decisions for producers worldwide, including those in the Bakken.

For Bakken operators, these global developments underscore ongoing strategic shifts among majors and the continued economic dominance of terrestrial resource extraction. BP's pivot to high-potential regions like Brazil mirrors a broader industry focus on core, high-return assets. Meanwhile, the high cost of frontier projects like lunar mining reinforces the value of established extraction technologies and basins.