Oil Prices Dip as Investors Consider Iran Supply Concerns, Venezuelan Exports
Oil prices fell slightly on Monday after Iran said it had total control following the biggest anti-government demonstrations in years, easing some concerns over supply, while investors also weighed efforts to resume oil exports from Venezuela.Brent crude futures lost 28 cents…
What's at stake in Uganda’s presidential elections?
On Thursday, Ugandan President Yoweri Museveni is seeking to extend his four decade rule in an election which has raised questions about his eventual successor. Although political analysts claim that Museveni and the National Resistance Movement (NRM)…
Veteran Ugandan leader eyes new term amid succession talk
After a violent campaign and questions over his successor, it is expected that Ugandan President Yoweri Museveni will extend his four-decade reign in an election held on Thursday. Museveni, a former rebel leader and former president who toppled his…
Trump blocks courts from seizing Venezuelan Oil Revenue in US Accounts
The White House announced on Saturday that U.S. president Donald Trump had signed an executive order to prevent?courts and creditors from impounding revenues tied to the sale of Venezuelan oil in U.S. Treasury accounts. The order stated that the money…
New York Sues Trump Administration Over Halt on Two Offshore Wind Projects
New York's Attorney General sued the Trump Administration on Friday for suspending the construction of two major offshore wind project that the state says it needs to power a million homes and reduce its reliance on fossil fuels.Letitia J. James, New York's Attorney General…
Trump calls on US oil companies to fix Venezuela's rotting energy industry
Donald Trump, the U.S. president, began a meeting at the White House on Friday to discuss Venezuela. He said he wanted executives from some of the largest oil companies in the world to invest $100 billion to expand Venezuela's production. The meeting…
Exxon CEO: We are ready to assess reentering Venezuela and will send a team within a few weeks.
Exxon Mobil CEO Darren Woods stated?on Friday that the U.S. 'oil major could start from the ground up in Venezuela, and was prepared to evaluate the possibility of returning to the country. Woods stated that it was "absolutely critical" to have a technical…
Trump meets with oil companies in Venezuela
Donald Trump, the U.S. president, began a meeting at the White House with executives of some of the largest oil companies in the world on Friday. He said that increasing crude production from Venezuela will benefit the United States. The meeting reflects…
Trump's "drill baby, drill" agenda in Venezuela hurts producers at the home
Trump wants $50 oil but it's below the profit level of U.S. Venezuelan oil redirected to squeeze U.S. Venezuelan oil to benefit U.S. HOUSTON, January 9 - U.S. Oil Producers already struggling with low oil prices face renewed pressure as President Donald…
US oil companies juggle Venezuelan opportunity and investor concerns ahead of White House Summit
U.S. Oil executives will weigh the business potential of Venezuela and the enthusiasm expressed by President Donald Trump against the cautious attitude expressed by their investors when they are summoned to meet at the White House this Friday to discuss possible investment plans.
European stocks reach record highs as Glencore leaps on Rio Tinto's interest
European shares reached a record high on Friday, boosted by an 8.3% increase in Glencore. This put the 'STOXX 600 index on course for its longest winning streak since last May. After two sessions of losses the rebound shows that investors are resilient…
Trump has announced that he will be meeting with Venezuelan Machado in the next few days
Donald Trump, the U.S. president, announced on Thursday that Venezuelan leader Maria Corina Machado would be visiting Washington next week. In an interview with Fox News' "Hannity", Trump was asked whether he planned to?meet? Machado after the U.S.
Sources say that Chevron Vitol Trafigura are all competing to control Venezuelan oil imports.
Sources familiar with the situation say that Chevron, Vitol, Trafigura and other companies are competing to get deals from the U.S. Government to export crude oil from Venezuela. Venezuelan officials are trying to control oil sales in the United States.
Sources say that the Embassies of Venezuela are planning visits by American and European oil companies
Two sources said that foreign embassies in Venezuela are arranging visits next week with representatives of American and European oil firms. This follows the U.S. announcement about a $2 billion deal for oil and the supply to Venezuela of U.S. products.
Oil Prices Rise 2% Amidst Venezuela Conflict, Supply Concerns
Oil prices rose about 2% on Thursday after two days of declines as investors assessed developments in Venezuela and on worries about supplies from Russia, Iraq and Iran.Brent futures rose $1.21, or 2%, to $61.17 per barrel at 11:17 a.m. EST (1617 GMT), while U.S.
Vitol, Trafigura and the White House invited to Venezuelan oil discussions on Friday
Four sources familiar with the situation have confirmed that the U.S. administration of President Donald Trump has invited the heads of commodity trading companies Vitol and Trafigura to meet at the White House this Friday to discuss the marketing Venezuelan crude oil.
World Economic Forum survey shows business will be tougher by 2025
A survey released by the World Economic Forum on Thursday showed that companies found it more difficult to do business in 2020 due to a decline in global cooperation in areas such as trade, 'climate', technology, and security. The online survey of 799 executives from 81 countries…
FT reports that US oil companies need guarantees before investing in Venezuela.
The Financial Times reported that U.S. Oil Companies want "serious assurances" from Washington before making large?investments into Venezuela. President Donald Trump wants them to support his efforts to reshape the energy?markets. The FT, citing sources familiar with the issue, reported that U.S.
Iraq nationalises West Qurna 2 Oilfield Operations, Government Says
Iraqi Cabinet has approved the nationalisation of petroleum operations in West Qurna 2 Oilfield, one?of the world's largest oilfields, according to the 'provisions' of a contract signed with Russia Lukoil. The cabinet agreed to also seek approvals for financing operations via the Majnoon account.
EOG Resources: Higher Venezuelan output and oversupply are weighing down on shale oil prices
Ann Janssen, finance chief at EOG Resources, said that on Wednesday oversupply from Venezuela and possibly higher production are pushing down oil prices. This trend is likely to continue for several more quarters. Brent crude futures fell about 0.6% to $60.30 per barrel as investors reacted after U.S.