Chevron to Boost Exports of Venezuelan Oil to US in March
Oil producer Chevron is set to boost exports of Venezuelan crude to the U.S. to some 300,000 barrels per day (bpd) in March, from 100,000 bpd in December and some 230,000 bpd so far this month, two sources with knowledge of the plans said on Wednesday.The U.S. company, which is the main partner of Venezuela's state-run energy firm PDVSA, has chartered about a dozen tankers to increase shipments and drain inventories accumulated at its projects since December, when a U.S.
The mining giant Grupo Mexico doubles its net profit in the fourth quarter due to metals boom
On 'Tuesday', Grupo Mexico, the world’s largest copper producer, said that it had nearly doubled its net profit for the fourth quarter due to higher metals prices and stronger volumes. This more than offset weaker infrastructure results related to suspended oil platforms, as well as foreign exchange headwinds. Conglomerate's net profit reached $1.43 billion in the last year,?which is above the $1.32 million estimate of analysts polled at LSEG.
Sources say that Chevron wants better terms with Iraq before acquiring the Lukoil Oilfield.
Sources say that Chevron is seeking better terms for the West Qurna 2 Oilfield. Iraq nationalized oilfield operatorship after U.S. Three sources with knowledge of the matter said that Chevron, the U.S. oil major, is pressing Iraq to increase returns on the West Qurna 2 field in order to buy the project from Russia’s Lukoil. Iraq nationalised its oilfield earlier this month after the U.S. imposed restrictions on Lukoil in order to pressure Russia to stop the war in Ukraine.
Trump touts the economy in Iowa as protests roil Minnesota
U.S. president Donald Trump arrived in Iowa, Tuesday. He was seeking to shore up his support in a Midwestern battleground. An escalating conflict over immigration enforcement in Minnesota could drown out the economic message. The Republican President, whose economic and immigration policies are lagging, will try to rally his rural supporters in an area that is hosting key congressional elections?in November.
Shell's legal battle against Venture Global is centered on communication with the engineer, a court transcript shows
Shell's appeal against its arbitration loss to liquefied gas producer Venture Global centers on possible communications between the U.S. company and independent engineer Lummus Consultants. A draft court transcript, seen by shows, details these potential communications. The transcript of a New York Supreme?Court?hearing on January 12 includes more details about Venture Global's long-running battle with oil giant Shell and Lummus's appointment as a witness in arbitration proceedings.
Trump visits Iowa amid farm stress and biofuel delays
The President Donald Trump is scheduled to travel to Iowa, on Tuesday, to boost his political support. This state is critical to the rural coalition of Trump, and farmers and producers of renewable fuels are becoming increasingly frustrated with the 'farm economy and its mounting pressure. The visit to the nation's biggest producer of corn and ethanol coincides with growing concern over low crop prices, high inputs costs, and policy uncertainty that threatens Trump's support across the U.S.
Gas producer Energean warns of possible $356 Million hit due to Cassiopea Reserve downgrade
Energean flagged on Tuesday a potential 300?million euros ($356?millions) impairment of its 2025 results?related to its minority stake in Eni's?Cassiopea?gasfield in Italy. Energean expects that the reserves at Cassiopea will be reduced by 3-4 million barrels due to lower performance than Eni initially expected. Energean holds 40% of the project. Energean said that it was in arbitration with Eni and sought 265 million euro for costs paid without authority, as well as lost revenue.
US energy sector reels as winter storm knocks 2 million bpd crude production
Analysts and traders estimate that U.S. producers lost as much as 2 million barrels per day or 15% of their production during the weekend. This was due to a winter storm which ravaged the nation, straining the?energy grids and infrastructure. Energy Aspects estimates that oil production outages peaked at 2 million barrels per day on Saturday. The Permian basin is likely to have experienced the greatest share of this decline, at about 1.5 million bpd. Production losses decreased on Monday.
Houston, the US oil capital, is buzzing as industry prepares for Venezuelan oil rush
Matthew Goitia explains his idea in a bar downtown Houston. He wants to build and refurbish marine terminals for Venezuela that will allow crude oil to be blended and exported, and chemical products shipped. Matthew Goitia, a director at Pelorus Terminals, explains his ambitious plan to refurbish and build marine terminals that can blend and export crude and ship chemical products in Venezuela. He also plans to add storage tanks, renovate the docks, and ensure that power is available.
Ecoceres CEO: New Malaysian plant nearing full capacity at new biofuels firm Ecoceres
Ecoceres, a biofuel producer in Malaysia, said that its new plant for converting used cooking oil to sustainable aviation fuel was running at nearly full capacity. The plant is located at Tanjung Langsat, Johor Bahru, near Singapore, and produces up to 420,000 tons of SAF per year, as well as hydrotreated vegetable oils, also known as renewable fuels, as well as bio-naphtha. Ecoceres 'CEO Matti Lievonen stated at the inauguration of the plant that it is operating at 95% capacity.
Darwin LNG begins shipments on the Kool Blizzard with its first cargo
Ship-tracking data revealed that the Darwin liquefied gas plant (DLNG), operated by Australian oil producer?Santos since restarting operations, had exported its first shipment. The shipment is currently heading to Sakai in Japan. Darwin LNG stopped shipments at the end of 2023, as its previous gas supply, the Bayu Undan Field in the Timor Sea was running out. The Barossa project, owned by Santos and SK E&S and JERA, is now supplying the plant with natural gas.
Kazakhstan's main export pipeline returns to full capacity after mooring points repaired - CPC
The Caspian Pipeline Consortium, Kazakhstan's main oil export pipeline, returned to full capacity on Sunday at its terminalon the Russian Black Sea Coast after maintenance was completed at one mooring point and a tanker loaded with crude. Kazakhstan, the 12th largest oil producer in the world, has been facing a number of challenges in recent months. These include an attack by a Ukrainian drone on the Caspian Pipeline Consortium (CPC) in late November…
Libya signs 25-year agreement with TotalEnergies and ConocoPhillips that will bring in over $20 billion of investment
Libya's Prime Minister Abdulhamid al-Dbeibah announced that the country will sign on Saturday a 25-year agreement with TotalEnergies of France and ConocoPhillips in the United States. The deal involves more than $20 billion dollars worth of foreign-financed investments and is aimed at increasing production by as much as 850,000 barrels a day. Dbeibah stated in a X post that the deal was signed through a subsidiary,?Waha Oil Company. This company is a state-run 'National Oil Corporation.
Ukraine needs an energy ceasefire, says top power executive
The head of Ukraine's biggest private power producer said that the country is on the verge of a "humanitarian disaster" due to Russian airstrikes against energy systems. Any future peace agreement must include an end to attacks on energy infrastructure. Maxim Timchenko said that Russia, which invaded Ukraine in full force almost four years ago, has been conducting an "energy terror campaign" since October 2025. This includes attacking power stations and overpowering air defence systems.
Overview of Iran's major gas fields and oil infrastructure
After a wave anti-government protests, the US is heading to Iran and renewing warnings against Tehran restarting its nuclear programme or killing protesters. Tehran accuses Washington of fomenting turmoil. A major increase in prices could endanger key energy infrastructure, and add uncertainty to the oil and gas market. Here are some facts about Iran's energy sector, its exports and the impact of?Western sanctions. Iran produces natural gases from the South Pars offshore gas field.
Shell Nigeria announces progress on $20 billion Bonga South West Oilfield
Bola Tinubu, Nigeria's President, has approved "investment linked" incentives for Shell’s Bonga South West Deepwater Oilfield. This follows a meeting between the CEO of the company Wael Sawan and the Nigerian president. Wael Sawan indicated that the project could be greenlit in 2027. The incentives proposed are part of a series of regulatory reforms that have been implemented in Africa's largest crude oil producer in order to attract investments to boost oil and gas production.
Palmetto falls due to profit-taking but still posts third consecutive weekly gain
Malaysian palm-oil futures fell 'on Friday due to profit-taking, and the strength of the ringgit, but they still posted a third consecutive weekly gain. The benchmark contract for palm oil delivery in April on Bursa Derivatives Exchange fell 23 ringgit (0.55%) to $4174 ringgit ($1,042.72) per metric ton. The contract increased 2.5% in the last week. A Kuala Lumpur based trader said that investors booked profits before the weekend, and a stronger ringgit halted the recent rally.
ContourGlobal, owned by KKR, enters Greece through solar and battery acquisitions
KKR's energy group ContourGlobal announced on Friday that it has entered the Greek renewables markets?with a portfolio of solar plants? and 500 megawatts of?battery -energy storage? projects. The agreement includes 26 solar plants that will generate approximately 51 gigawatt-hours (GWh) of electricity per year, enough to power 15,000 Greek homes for an entire year. Quest Energy, part of Quest Holdings, owned the assets.
Shell offshore Bonga South West Project: Nigeria approves new incentives
Tinubu’s office reported that the Nigerian president Bola Tinubu approved investment-linked incentives to Shell’s Bonga South West Deepwater Oil Project following a meeting with its chief executive. The 'proposed incentives' are the latest of a slew of regulatory reforms that have been implemented in Africa’s leading crude oil producer in order to attract investment and boost oil production. He said that incentives would be "ring-fenced" and will focus on new capital investment…
VEGOILS - Palm slips due to profit-taking; ringgit firm, still on track for third weekly gain
Malaysian palm futures declined?on friday amid profit-taking, but they remained on course for a third weekly gain. The benchmark April palm oil contract on the Bursa Derivatives exchange fell 30 ringgit or 0.71% to 4,167 Ringgit ($1,041.75) per metric ton at?midday. This week, the contract has increased by 2.6%. A Kuala Lumpur based trader said that investors?booked their profits before the weekend, and the stronger ringgit has?snapped up the recent rally.