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The Past and Potential of Venezuela’s Oil Sector, and What it Means for Canada

CDN and International News, Conventional Energy, Latest, Oil / By

CALGARY – U.S. President Donald Trump’s ambition to have U.S. energy companies swoop in and revive Venezuela’s beleaguered oil industry has raised questions about what it means for Canadian oilsands producers and whether it’s a task American supermajors can or even want to take on. Here is a rundown of the past and potential of …

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Oil Gains as Market Assesses Protests in Iran, Dealmaking for Venezuela

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

Summary US aims to control Venezuela’s oil sector after Maduro’s capture Iran unrest and Russia-Ukraine war raise oil supply concerns Global inventories rise, oversupply may limit oil price gains (Reuters) – Oil prices rose on Friday on concerns about potential disruption to Iran’s output and uncertainty about supply from Venezuela. Brent futures were up 59 …

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US Oil Firms Juggle Venezuela Opportunity, Investor Concern Ahead of White House summit

Conventional Energy, Latest, Oil, Pinned Primary, US News / By

Summary Investors skeptical about Venezuela’s political stability and investment costs Chevron, ConocoPhillips cautious about rushing into Venezuela investments, sources say US plans three-phase process for Venezuela’s recovery, Rubio says Jan 9 (Reuters) – U.S. oil executives being summoned to the White House on Friday to discuss potential investment plans in Venezuela will be carefully weighing the country’s …

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US Gulf Refineries Ready to Run Venezuelan Crude

Conventional Energy, Energy Topics & Technology, Latest, Oil, Refineries, US News / By

(Reuters) – Refineries along the U.S. Gulf Coast from Corpus Christi, Texas to Pascagoula, Mississippi are configured to run the heavy sour, corrosive crude oil produced by Venezuela that President Donald Trump plans to sell in the U.S., following the capture last weekend of Nicolas Maduro. Beginning in the 1990s, refiners reconfigured their plants with …

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China Says US Seizure of Foreign Vessels Violates International Law

Conventional Energy, Latest, Oil, US News / By

(Reuters) – The U.S. move to seize foreign vessels in international waters seriously violates international law, the Chinese foreign ministry said on Thursday. “China has always opposed illegal unilateral sanctions without the basis of international law and without the authorisation of the United Nations Security Council,” ministry spokesperson Mao Ning said at a press conference. …

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Trump’s ‘Donroe Doctrine’ Targets China, US Oil Firms Could Pay the Price: Bousso

Conventional Energy, Latest, Oil, US News / By

(Reuters) – President Donald Trump plans to import previously sanctioned Venezuelan oil into the U.S., tearing up the global energy playbook and underscoring the seriousness of the administration’s ambition to dominate the Western Hemisphere. China may be the ultimate target of this “Donroe Doctrine”- Trump’s rebranding of a 19th-century doctrine that asserted Washington’s zone of …

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Trump Says US Oversight of Venezuela Could Last Years

Conventional Energy, Latest, Oil, US News / By

The United States could oversee Venezuela and control its oil revenue for years, President Donald Trump said in an interview published on Thursday. During what the New York Times described as a wide-ranging, two-hour interview, the paper said Trump also appeared to lift a threat to take military action against Venezuela’s neighbour Colombia. Trump invited …

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Norway’s Oil and Gas Output Will Fall Towards 2030, Regulator Says

CDN and International News, Conventional Energy, Latest, Oil / By

  Summary Norway’s petroleum output seen broadly steady in 2026 Output seen gradually declining towards 2030 Oil investments seen down nearly 7% in 2026 vs 2025 Lower demand to hit supplier industry (Reuters) – Norway’s offshore oil and gas output will remain broadly steady in 2026, but investments are seen falling by 6.6%, signalling a …

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US Seizes Russian-Flagged Tanker, Another Tied to Venezuela as Trump Widens Oil Push

Conventional Energy, Latest, Oil, US News / By

Summary US boarded tanker that escaped blockade and put up Russian flag US also seized second Venezuela-linked tanker Venezuela’s main buyer China denounces US ‘bullying’ (Reuters) – The U.S. seized two Venezuela-linked oil tankers in the Atlantic Ocean on Wednesday, one sailing under Russia’s flag, as part of President Donald Trump’s aggressive push to dictate oil …

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Oil Rises as Market Focuses on Venezuela and US Sanctions Plans

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

Summary Brent and WTI benchmarks firm US crude stocks fell last week while fuel stocks rose, says EIA Two Venezuela-linked oil tankers seized by US in Atlantic Ocean (Reuters) – Oil prices rose on Thursday after two days of declines as investors assessed Venezuela developments and reports on progress of proposed U.S. sanctions legislation against …

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