Oil Industry News
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Trump says he has secured a vast U.S. stake in Venezuelan oil industry
President Donald Trump announced Friday night that the United States had secured a long-term stake in a vast share of Venezuela's oil fields, a potentially costly and legally precarious proposal that aims to nudge reluctant energy companies to…
China's Micbot trains robots to withstand the heat of Saudi Arabian oil industry
A Chinese robotics firm is accelerating its overseas strategy, with a fleet of AI-powered industrial quadrupeds being primed for Saudi Aramco facilities, while revving up its bid for a listing in Hong Kong next year. Heavy-duty, explosion-proof…
Why the US Wants an Even Bigger Role in Venezuela's Oil Industry
While Venezuela isn't the powerhouse oil producer it used to be, the country nonetheless has some of the world's largest oil reserves. Since the US seized then-Venezuelan President Nicolás Maduro on Jan. 3, the US has restored diplomatic…
Trump announces massive oil deal with Venezuela
“This Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future, while helping to continue to set Venezuela on a course…
US and Venezuela reach 'historic' oil deal, Trump says
The US has reached a deal with Venezuela to control more than 65 billion barrels of its proven oil reserves, according to President Donald Trump. 'This Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply…
Russian Oil Is Backbone Of India's Energy Security
'In the current environment, India is effectively paying a premium for supply security and diversification.' India's crude oil imports from Russia are expected to fall to 2.1 mbpd in August, down from 2.6 mbpd in previous months, though Russia…
U.S. to take control of major portion of Venezuelan oil wealth
The U.S. is set to take majority control over a huge amount of Venezuela's oil wealth in an unprecedented maneuver that officials said would create the world's second-largest private oil company by reserves and secure American petroleum supplies…
Trump says US is taking partial control of Venezuela's vast oil reserves
President Donald Trump on Friday announced an unprecedented U.S. push to take control of a fifth of Venezuela's vast oil reserves, betting that American companies can revive the OPEC nation's battered energy industry while delivering a new source…
Trump aims to revive economy, lower energy costs with Venezuela oil deal
WASHINGTON (AP) — President Donald Trump said Friday that his administration has entered a sweeping agreement with Venezuela that, if realized, could give the U.S. access to vast amounts of the South American country's untapped oil reserves…
Trump announces new US oil agreement with Venezuela
Donald Trump announced Friday a new US oil agreement with Venezuela's interim president Delcy Rodríguez, saying the US will have “majority” control of 65bn barrels of proven oil reserves. The terms of the agreement remain to be…
Trump said the US government has reached a deal to secure 65 billion barrels of oil reserves in Venezuela
Donald Trump said the US has secured majority control of more than 65 billion barrels of Venezuelan oil. In a post on Truth Social on Friday, Trump said the US has reached 'THE BIGGEST OIL DEAL IN WORLD HISTORY' with interim Venezuelan President…
Chinese state oil giant CNOOC sees potential for US-China energy cooperation
Chinese state-owned oil and gas major CNOOC (0883) sees potential for energy cooperation between China and the United States, a senior executive said on Thursday, adding that the company would consider investments alongside US partners in the…
Trump announces 'biggest oil deal in world history' with Venezuela
The United States has struck a deal with Caracas that would give them control of some 65 billion barrels of Venezuela's proven oil reserves, President Donald Trump has announced, while reviving the OPEC nation's battered energy industry. In a post…
Trump says U.S. will control 65 billion barrels of Venezuelan oil
Aug. 28 (UPI) -- President Donald Trump on Friday said his administration had reached a deal with Venezuela to secure a stake in more than 65 billion barrels of the country's oil reserves. In an evening social media post, Trump called the move 'the…
Oil Shrugs Off Trump's 'Toughest Sanctions in History'
Oil holds near $90 despite sweeping Iran sanctions as uncertainty over Hormuz transits keeps markets on edge. The US announcement of 'toughest sanctions in history' against Iran did relatively little to push oil prices away from their comfort zone…
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