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Jan. 6 (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... Continue Reading →
Jan 5 (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. Today, foreign... Continue Reading →
Jan 3 (Reuters) - Venezuela is unlikely to see any meaningful boost to crude output for years even if U.S. oil majors do invest the billions of dollars in the country that President Donald Trump promised just hours following Nicolás Maduro's capture by U.S. forces. The South American country may have the world's largest estimated oil reserves,... Continue Reading →
Dec 31 (Reuters) - Indian Oil Corp purchased its first Colombian oil under an optional supply deal with state oil company Ecopetrol, two people familiar with the matter said, as India's top refiner seek to diversify from Russian oil. Indian refiners are scouting for crude as tighter U.S. and European Union sanctions on Moscow's producers and... Continue Reading →
Dec. 17 (Reuters) U.S. President Donald Trump ordered on Tuesday a "blockade" of all sanctioned oil tankers entering and leaving Venezuela, in Washington's latest move to increase pressure on Nicolas Maduro's government, targeting its main source of income. It is unclear how Trump will impose the move against the sanctioned vessels, and whether he will... Continue Reading →
Dec 9 (Reuters) - Russia's Lukoil has until December 13 to negotiate the sale of the bulk of its international assets after the U.S. imposed sanctions on the company and rejected its initial buyer, Swiss commodity trader Gunvor. Lukoil's international assets, spanning upstream oil and gas projects, refining, and more than 2,000 filling stations across Europe, Central Asia, the Middle... Continue Reading →
Nov. 26 (oilprice.com) The Trump administration is after Venezuela’s oil with its military campaign against the South American country, the president of Colombia, Gustavo Petro, told CNN in an interview. “(Oil) is at the heart of the matter,” Petro told the U.S. news outlet. “So, that’s a negotiation about oil. I believe that is (US President... Continue Reading →
Nov 21 (Reuters) - U.S. sanctions are dismantling what remains of Lukoil's Litasco, once Russia's biggest oil trader and a rival to top Swiss houses and oil majors, five sources told Reuters. The measures, which also target state-owned Rosneft, took effect on Friday as Washington seeks to choke off Moscow’s ability to fund its war in... Continue Reading →
Brazil Energy Insight 