Oil Industry News

Trump invaded Venezuela to restore an oil industry he helped destroy

Get your news from a source that's not owned and controlled by oligarchs. Sign up for the free Mother Jones Daily. This story was originally published by Grist and is reproduced here as part of the Climate Desk collaboration. The…

Venezuela's oil industry has flailed under government control - Mexico and Brazil have had more success with nationalizing

U.S. President Donald Trump has ignited a contentious debate over who has the right to control Venezuela's vast oil reserves. Speaking on Jan. 3, 2026, after the U.S. military seized Venezuelan President Nicolás Maduro, the U.S. president…

Supreme Court Grapples With Louisiana Coastal Lawsuits Against Oil Companies

The Supreme Court justices on Monday heard arguments in a lawsuit seeking to hold oil companies liable for environmental damage to Louisiana's coastline. The argument focused on a narrow question — whether the oil companies can remove cases…

How Chevron played the long game for Venezuela's oil reserves

On Saturday, hours after U.S. forces in Caracas killed at least 80 people and kidnapped Venezuelan President Nicolás Maduro, Donald Trump sounded less like a wartime commander than a developer surveying a newly acquired property. The…

Daily on Energy: Big Oil wary of Venezuela, wind power woes, and Trump takes a stake in another mining company

This week, the offshore wind industry is challenging the administration in court again over its decision to pause five wind leases 💨⚡. Rhode Island's Revolution Wind's case is being taken up today, while Empire Wind and Coastal…

Possibility of oversupply looms over oil revenue

PETALING JAYA: Malaysia's petroleum revenue may drop between RM3bil and RM4bil if crude oil prices were to move towards the range of US$55 to US$60 per barrel. This could potentially result in the widening of the the country's fiscal deficit by…

Donald Trump shares update on US oil companies in Venezuela

President Donald Trump has reiterated his desire for U.S. companies to help develop Venezuela's natural resources following the ouster of President Nicolás Maduro, and threatened to sideline one oil major from this plan. Speaking to…

Fesharaki on Iran Unrest, Oil Market Risks

FGE NexantECA Chairman Emeritus Fereidun Fesharaki shares his analysis on the escalating protests in Iran, the potential collapse of the Islamic regime, and what it means for global oil markets. Speaking on Insight with Haslinda Amin, he also…

US frackers were already facing a global oil supply glut. Trump's Venezuelan dream could make it worse

US shale-oil producers were already contending with oil prices at four-year lows. News that they may soon face a significant competitor in their back yard likely wasn't how frackers wanted to greet 2026. The US capture of Venezuelan president…

Norway to reopen 'dead' North Sea oil fields as Britain retreats

Norway is preparing to extract billions of pounds worth of fossil fuels from the North Sea as it reopens “dead” oil and gas fields close to British waters. A report by a Norwegian government agency said improvements in technology…

New US ambassador to India pushes for deeper trade ties despite tension over Russian oil

NEW DELHI -- The U.S. and India are actively engaged on a bilateral trade agreement to deepen economic and strategic partnership, the U.S. ambassador-designate to New Delhi said Monday. Since Russia's full-scale invasion of Ukraine in February…

Jill On Money: Venezuela's oil - What it means for your wallet

After the capture and arrest of Venezuelan President Nicolás Maduro, President Donald Trump announced plans to revitalize Venezuela's struggling oil industry with American investment. Putting aside the huge political and legal issues, the…

China Has Been Gorging on Black-Market Oil. That's Now Getting Harder.

Trump likely to bar Exxon from Venezuela oil investment

Following the U.S.'s capture of former Venezuelan dictator Nicolas Maduro, Trump has been vocal about the increased investment opportunities for American oil companies in Venezuela, a country with hundreds of billions of barrels in untapped oil…

Venezuelan heavy oil coming on stream could spell a $9-billion Alberta deficit, former energy minister predicts

Former United Conservative Party energy minister Sonya Savage spoke the truth on Friday when she forcefully suggested on a podcast that without public funding Premier Danielle Smith's perpetual pipeline project is little more than a pipe dream.