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Trump Offers US Oil Companies a Poisoned Chalice in Venezuela

Conventional Energy, Latest, Oil, US News / By

(Reuters) – U.S. President Donald Trump is giving U.S. energy companies the opportunity to revive Venezuela’s massive, derelict oil industry. It’s an offer they may want to refuse. After the U.S. military’s ouster of Venezuelan President Nicolas Maduro at the weekend, representatives of the Trump administration plan to meet with oil executives later this week to discuss boosting Venezuelan …

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COMMENTARY: Trump Now Has His Very Own Oil Empire

Conventional Energy, Latest, Oil, US News / By

By Javier Blas A Madrid protestor holds a caricature of Donald Trump drinking from a Venezuelan oil barrel by Portuguese cartoonist Vasco Gargalo. Photographer: THOMAS COEX/AFP Let’s do the math. Start with the oil production of the US and add Canada. Then include Venezuela and the rest of Latin America, from Mexico to Argentina and …

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Vistra to Buy Cogentrix Energy in $4.7 Billion Deal Amid Surging Power Demand

Conventional Energy, Electricity Grid, Energy Topics & Technology, Latest, Mergers and Acquisitions, Natural Gas, US News / By

Utility Vistra said on Monday it has agreed to buy Cogentrix Energy, comprising 10 natural gas-fired power plants, from Quantum Capital Group for about $4.7 billion, as it looks to meet growing power demand. Shares of the company rose nearly 5% in extended trading. The deal includes about $2.3 billion in cash, $900 million in …

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Oil Prices Edge Slightly Higher on Supply Outlook, Venezuelan Output Uncertainty

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

Summary US to meet oil executives to discuss Venezuelan production boost Analysts predict sufficient supply by 2026 despite uncertainties Reliance Industries halts Russian crude deliveries for January (Reuters) – Oil prices edged slightly higher on Tuesday as the market weighed expectations of ample global supply this year against uncertainty around Venezuelan crude output following the …

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Trump Administration Has Not Consulted US Oil Majors About Venezuela, Oil Execs Say

Conventional Energy, Latest, Oil, US News / By

(Reuters) – The Trump administration did not consult with oil companies Exxon Mobil, ConocoPhillips, or Chevron Corp about Venezuela before or after U.S. forces captured the South American country’s president Nicolas Maduro Jan. 3, according to four oil industry executives familiar with the matter. That contradicts President Donald Trump’s assertion aboard Air Force One on …

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China’s Oil Investments in Venezuela

CDN and International News, Conventional Energy, Latest, Oil / By

(Reuters) – China is a major customer of and investor in Venezuela’s oil sector, which President Donald Trump aims to revive following the U.S. military’s ouster of President Nicolas Maduro on Saturday. Years of mismanagement, underinvestment and, more recently, U.S. sanctions have slashed Venezuelan crude production to about 1.1 million barrels per day (bpd) last …

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Russia Loses Ally in Venezuela But Hopes to Gain From Trump’s ‘Wild West’ Realpolitik

CDN and International News, Latest / By

(Reuters) – Venezuelan leader Nicolas Maduro’s capture by the United States has deprived Vladimir Putin of an ally and could increase U.S. “oil clout”, but Moscow is eying potential gains from President Donald Trump’s division of the world into spheres of influence. Special Forces seized Maduro only eight months after the Russian president agreed a …

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What’s The Status of International Oil Companies in Venezuela After Maduro’s Capture?

CDN and International News, Conventional Energy, Latest, Oil / By

(Reuters) – Here are key facts about international oil companies in Venezuela, a country with the world’s largest oil reserves thrown into crisis by the capture of President Nicolas Maduro by U.S. forces. In the 2000s, former President Hugo Chávez expropriated assets from several foreign oil companies, strengthening state-owned PDVSA’s control over the country’s oilfields. …

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Venezuela Risk to US Economy is Via Oil Prices, But Not Seeing it Yet, Fed’s Kashkari Says

Conventional Energy, Latest, Oil, US News / By

(Reuters) – The main risk to the U.S. economy from the Trump administration’s capture of Venezuela’s leader over the weekend would stem from rising oil prices, Minneapolis Federal Reserve President Neel Kashkari said on Monday, but that does not appear to be underway so far. The risk is “mostly through oil prices,” Kashkari said in …

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