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A Canadian tycoon who heads one of North America’s fastest-growing oil companies is advocating for his country to lend its heavy oil expertise to the United States as it seeks to rebuild Venezuela’s oil industry. Adam Waterous, the executive chair of Strathcona Resources, said Canada’s decades of experience extracting oil sands crude make it uniquely …
Canadian Oil Tycoon Proposes Aiding US in Venezuela’s Oil Revival Read More »
Workers at BP’s refinery in Whiting, Indiana are in contract negotiations with the British oil major, which has proposed changes including job cuts at the 440,000-barrel-per-day facility, the United Steelworkers union said on Tuesday. The local USW union represents around 800 workers at Whiting, the largest refinery in the U.S. Midwest. The current three-year collective …
Whiting Refinery Workers Begin Contract Negotiations With BP Read More »
(Reuters) – The discount on U.S. crude futures to the global benchmark Brent has grown by around $1 per barrel since the U.S. ousted Venezuelan President Nicolas Maduro on January 3 and took control of the South American country’s oil flows, redirecting millions of those barrels to U.S. ports in a move likely to boost …
(Reuters) – U.S. crude production will ease in 2026 and 2027 after reaching a record high in 2025, while petroleum demand will hold steady this year, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday. EIA projected crude production will slide to 13.59 million barrels per day (bpd) …
US Crude Output to Ease in 2026, While Demand Remains Flat, Says EIA Data Read More »
(Reuters) – Lower oil prices are expected to cut U.S. drilling activity and reduce output 1% this year from the top producing country, while potentially higher output from Venezuela could add pressure, the Energy Information Administration said on Tuesday. The comments from the Department of Energy’s statistical arm add to worries expressed by some U.S. …
(Reuters) – Venezuela’s state oil company has begun reopening some of the wells it and its joint venture partners had shut amid a strict U.S. embargo, as crude exports resume with two shipments departed on Monday, three sources close to operations said. The OPEC country’s oil exports had remained almost at a standstill since December, …
Venezuela Begins Reversing Oil Output Cuts as Exports Resume, Sources Say Read More »
(Reuters) – Cubans are bracing for impact after U.S. President Donald Trump vowed to cut off a lifeline of Venezuelan oil from reaching Cuba, setting up a siege scenario for an island already reeling from crippling blackouts and shortages. Venezuela, once the island’s top supplier, has not sent crude or fuel to Cuba for about …
Clock Ticks in Cuba as Trump cuts Off Venezuelan Oil Read More »
Summary Trump claims control over Venezuela’s oil reserves Roszarubezhneft took over Rosneft’s Venezuelan holdings in 2020 Roszarubezhneft says it will continue working in Venezuela (Reuters) – Oil assets that Russia develops in Venezuela belong to Russia, which will continue working there, Moscow said on Tuesday, after U.S. President Donald Trump’s claims of control over the …
Russia Counters Trump’s Assertion Over Oil in Venezuela Read More »
(Reuters) – U.S. shale producer Diamondback Energy on Monday flagged lower prices for its oil production in the fourth quarter, compared to the preceding three months. Oil prices declined 9.2% during the three months ended December 31, as concerns about oversupply and tariffs outweighed geopolitical risks. The company said the average realized prices, or the …
Diamondback Energy Flags Lower Prices for Oil Production in Fourth Quarter Read More »
(Reuters) – U.S. Supreme Court justices wrestled on Monday over whether lawsuits by Louisiana officials seeking to hold oil and gas companies, including Chevron and Exxon Mobil, responsible for harming the state’s coast should be moved out of the Bayou State’s courthouses and into federal court. The justices during a little more than an hour …
US Supreme Court Wrestles With Louisiana Communities’ Lawsuits Against Oil Companies Read More »
