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(Reuters) – Cubans are bracing for impact after U.S. President Donald Trump vowed to cut off a lifeline of Venezuelan oil from reaching Cuba, setting up a siege scenario for an island already reeling from crippling blackouts and shortages. Venezuela, once the island’s top supplier, has not sent crude or fuel to Cuba for about …
Clock Ticks in Cuba as Trump cuts Off Venezuelan Oil Read More »
Summary Trump claims control over Venezuela’s oil reserves Roszarubezhneft took over Rosneft’s Venezuelan holdings in 2020 Roszarubezhneft says it will continue working in Venezuela (Reuters) – Oil assets that Russia develops in Venezuela belong to Russia, which will continue working there, Moscow said on Tuesday, after U.S. President Donald Trump’s claims of control over the …
Russia Counters Trump’s Assertion Over Oil in Venezuela Read More »
(Reuters) – U.S. shale producer Diamondback Energy on Monday flagged lower prices for its oil production in the fourth quarter, compared to the preceding three months. Oil prices declined 9.2% during the three months ended December 31, as concerns about oversupply and tariffs outweighed geopolitical risks. The company said the average realized prices, or the …
Diamondback Energy Flags Lower Prices for Oil Production in Fourth Quarter Read More »
(Reuters) – U.S. Supreme Court justices wrestled on Monday over whether lawsuits by Louisiana officials seeking to hold oil and gas companies, including Chevron and Exxon Mobil, responsible for harming the state’s coast should be moved out of the Bayou State’s courthouses and into federal court. The justices during a little more than an hour …
US Supreme Court Wrestles With Louisiana Communities’ Lawsuits Against Oil Companies Read More »
(Reuters) – Workforce security and policy reform including contract sanctity are among the prerequisites that have to be in place in Venezuela for the U.S. oil industry to move in, American Petroleum Institute President Mike Sommers said on Monday during a telephone conference with journalists. He said the move to remove Nicolas Maduro from power …
Venezuela Security, Policy Reform Needed for US Oil Industry to Move In, API Chief Says Read More »
(Reuters) – Iran has a record amount of oil on the water, equivalent to about 50 days of output, with China having bought less because of sanctions and Tehran seeking to protect its supplies from the risk of U.S. strikes, data from Kpler and Vortexa shows. The amount of Iranian crude and condensate, either on …
Oil prices are likely to drift lower this year as a wave of supply creates a market surplus, although geopolitical risks tied to Russia, Venezuela and Iran will continue to drive volatility, Goldman Sachs said in a note on Sunday. The investment bank maintained its 2026 average price forecasts of $56/$52 per barrel for Brent/WTI, …
Goldman Projects Lower Oil prices in 2026 as Supply Swells Read More »
U.S. President Donald Trump said on Sunday that he might block Exxon Mobil from investing in Venezuela after the oil major’s CEO called the country “uninvestable” during a White House meeting last week. Exxon CEO Darren Woods told Trump that the Venezuelan market is “uninvestable” in its current state. Venezuela seized Exxon’s and Conoco’s assets in …
PAYBACK: Trump Says He Might Keep Exxon Out of Venezuelan Over “Uninvestable” Comment Read More »
Ron Bousso U.S. President Donald Trump attends a meeting with oil industry executives, at the White House in Washington, D.C., U.S., January 9, 2026. REUTERS/Evelyn Hockstein LONDON, Jan 12 (Reuters) – Big Oil companies have injected a heavy dose of realism into U.S. President Donald Trump’s plan to rapidly invest billions in Venezuela, pointing to …
Big Oil Offers Reality Check to Trump’s Venezuela Dream Read More »
(Reuters) – Norway’s government said on Monday it will present a policy document to parliament next year on the future of the oil and gas industry, including companies’ access to exploration acreage. “The oil and gas industry is crucially important for Norway, and should be developed, not phased out,” Prime Minister Jonas Gahr Stoere said …
Norway to Lay Out Future of Oil and Gas, Drilling, in 2027 Policy Update Read More »
