Oil Industry News
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Trump's big Venezuela deal leaves U.S. oil industry blindsided
President Donald Trump has boasted that his sweeping oil accord with Venezuela — effectively giving the U.S. control over much of the nation's crude wealth — is possibly “the greatest deal ever made.” Some U.S. oil…
Trump's state capitalism comes to the oil industry with his unprecedented Venezuela deal
President Donald Trump's Venezuela oil deal gives the Pentagon an equity stake in North America Blue Energy Partners. NABEP has received concessions to 65 billion barrels of proved reserves, which would make it the second-largest oil company in the…
U.S.-Venezuela oil deal won't reduce domestic gasoline prices anytime soon, experts say
This article originally appeared on PolitiFact. Almost nine months after the United States deposed Venezuelan leader Nicolás Maduro, President Donald Trump struck a deal to give the U.S. a key role in the oil industry of Venezuela — a…
Russia's Giant Vostok Oil Loads First Crude on Arctic Tanker
The giant Vostok Oil project in Russia's distant Taimyr region has loaded its first crude for shipment via the Northern Sea Route, expanding the nation's presence in the Arctic and paving the way for future growth of its oil production. The first…
US strikes Iranian oil carrier off Kharg Island
The United States struck three Iranian oil tankers on Saturday, U.S. Central Command (CENTCOM) has confirmed, which it said were involved in covert oil shipment near the critical Kharg Island terminal. Only one of the vessels was near Kharg Island.
US strikes three Iranian oil tankers after two of its warships targeted with missiles
The U.S. military says it struck three Iranian oil tankers Saturday, including one off the coast of Kharg Island, near Iran's key oil export hub. The strikes were carried out after Iran's Islamic Revolutionary Guard Corps launched ballistic…
Argentina's government moves to enforce Falkland Islands oil sanctions
Get our award-winning daily news email featuring exclusive stories, opinion and expert analysis I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. Argentina has moved to enforce a crackdown on…
U.S. strikes 3 Iranian oil tankers after Iran targets Navy warships, military says
U.S. forces struck three Iranian oil tankers Saturday after Iran launched ballistic missiles toward two U.S. Navy shifts, the U.S. military said. A U.S. aircraft carrier and guided missile destroyer evaded multiple attacks by Iran's Islamic…
Oil and politics: What Trump's 'historic' deal means for Venezuela
Since the last century, Venezuelan politics has been closely linked to the management of the country's oil industry. The debate for policymakers has centred on whether to liberalise or nationalise the sector, with the latter being the preferred…
US Hits Iranian Oil Tankers in Latest Military Response
The United States has taken aim at three crude oil tankers from the Islamic Republic of Iran in response to ballistic missile strikes from the Iranian Revolutionary Guard Corps on Saturday, according to United States Central Command. The missiles…
Trump's $100 billion Venezuelan oil gamble is a direct hit on Russia and Canada
While this agreement cannot fulfill that domestic need instantly, the involvement of major Western operators drastically compresses the recovery timeline. Companies such as Chevron, ConocoPhillips, and prominent European firms maintain a deep…
Iran Oil Tanker Hit By Missile Near Key Kharg Island Oil Hub As US-Iran Tensions Escalate
New Delhi: An Iranian oil tanker was reportedly struck by a missile off the coast of Iran's strategic Kharg Island on Saturday, September 5, amid a fresh escalation in the ongoing US-Iran conflict. According to reports, the tanker was hit while…
Trump's Oil Deal Is the Monroe Doctrine With a Term Sheet: 100-Year Rights and Beijing Locked Out
When President Trump announced a major government investment in Venezuelan oil fields on August 28, it was and was not a shock. Ever since the raid that removed Nicolas Maduro from office (see Venezuela Promises to Be a Geopolitical Game Changer If…
Energy sector outperforms in August as Middle East tensions boost oil prices (XLE)
The energy sector (XLE) advanced about 9% in the month of August, compared to a 1% rise in the broader market (SP500), finishing as the top-performing market sector. The move was driven largely by heightened geopolitical tensions and concerns over…
Hedge Funds Hike Bullish Oil Bets to May High as Iran War Flares
Hedge funds turned the most bullish on Brent crude since May as a fresh spate of fighting between the US and Iran heightened concerns about prolonged disruptions to energy flows through the Strait of Hormuz. Money managers increased their…
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