Oil Industry News
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Trump's Venezuela oil grab reprises industry's neocolonial past
U.S. President Donald Trump's plan to seize direct control of Venezuela's oil reserves is prompting warnings that the Latin American nation will become a modern-day resource colony akin to the banana republics of a century ago — something…
Opinion: As Trump pivots to Venezuela for energy, U.S big oil and big money invest in Canada
Please log in to bookmark this story. Create Free Account In Texas and New York, big oil and big money are placing their bets on the future of the energy industry. Major American oil companies and asset managers are lining up to invest in Canadian…
What the latest U.S.-Iran strikes mean for oil supplies and maritime safety
For perspective on the latest developments in the war with Iran, we now get two views. Retired Rear Admiral Mark Montgomery spent 32 years in the U.S. Navy. He served on the National Security Council staff and later was policy director on the…
US-Venezuela oil deal deepens China's energy security squeeze
A landmark oil agreement between Washington and Caracas threatens to cut Chinese refiners off from a cherished source of discounted crude, handing the United States greater sway over global oil prices. US President Donald Trump announced on August…
Daily on Energy: What we know about the US-Venezuela oil deal
What we do know is that Trump said the U.S. had secured majority control of more than 65 billion barrels of proven reserves in Venezuela. This appears to be possible through the formation of a new company, which is being created by the U.S. and an…
Oil's fresh surge highlights a growing threat to the stock market's biggest catalyst
Investors on Monday were reminded the Iran war is still going, with stocks sagging as oil prices and bond yields spiked after the US and Iran traded fire for the first time in weeks. Brent oil cruised back above $90 a barrel and US crude topped $85…
White House working with North American Blue Energy Partners on Venezuela oil deal
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Will Trump's Venezuela oil deal lower U.S. gas prices? Here's what experts say.
President Trump on Friday said a U.S. deal with Venezuela to tap its oil reserves 'will substantially lower Gas Prices for all Americans, long into the future.' With the average U.S. gas price still above $4 a gallon nationwide, American consumers…
Analyst breaks down challenges U.S. will face to unlock Venezuela's oil
President Trump is calling it the largest oil deal in world history. He announced an agreement in which the Pentagon would become an investor in a private company granted exclusive oil development rights in Venezuela. The deal would be…
The Latest: Trump oil deal raises questions, Vance and Bessent seek to reassure allies
Venezuelans are expressing outrage and the oil industry is waiting for details on President Donald Trump's announcement that Venezuela 's acting president has agreed to give an unnamed U.S. company control of vast amounts of the South American…
Return to Peak Venezuela Oil Output to Take Decades, Rystad Says
Venezuelan oil production will take decades to return to its peak of more than 3 million barrels a day even as a deal with the US prompts a boost in near-term output, according to Rystad Energy. President Donald Trump announced Friday the US…
U.S. oil firm to take over some Venezuelan oilfields previously run by Chinese, Russian companies: Reuters
Ucg | Universal Images Group | Getty Images U.S. oil company North American Blue Energy Partners will take over some oilfields previously controlled by five Chinese companies and a Russian firm, two U.S. officials told Reuters on Monday. The…
Trump: US has control of large slice of Venezuela's oil
President Trump said Friday evening that there will be “majority U.S. control” of a large swath of Venezuela's oil reserves. © AP Photo/Matias Delacroix “BREAKING NEWS: The United States of America has just entered into an…
What smart people are saying about Trump's acquisition of Venezuelan oil
Analysts aren't buying the notion that Trump's recent acquisition of millions of barrels of Venezuelan oil will reduce gas prices for American consumers. In a post on Truth Social on Friday, President Donald Trump said the US has secured majority…
US-Venezuela oil deal promises a windfall. But, Venezuelans ask, for whom?
The oil deal between the United States and Venezuela, which secures American access to more than 65 billion barrels of Venezuelan oil reserves, promises something both countries want. Washington could gain access to vast petroleum resources, while…
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