Oil and gas

Trump says he’s inclined to exclude ExxonMobil from Venezuela

Chevron is the only Western oil major to have continued operating in the country while Maduro was in charge

Some US oil operators, particularly smaller producers, are concerned about current prices that have strained the economics of some drilling.

ExxonMobil calls Venezuela ‘uninvestable’ as Trump pushes oil plan

Low prices are viewed warily within the oil industry, which the US president is counting on to keep pumping crude

Trafigura and Vitol Group have obtained preliminary licenses from the US Treasury to help market the pledged Venezuelan crude oil.

Trafigura readies first Venezuelan oil ship as part of mega sale

Traders have been notifying US refiners to gauge interest for the oil, with sales expected to kick off on Monday

An oil refinery in Venezuela. The country has millions of barrels of oil loaded on tankers and in storage tanks that it has been unable to ship since mid-December due to a blockade on exports imposed by Trump.

Oil falls after Trump says Venezuela will supply to US

[LONDON] Oil prices fell on Wednesday (Jan 7) after President Donald Trump said the United States had reached a deal to import up to US$2 billion worth of Venezuelan crude, a move that is expected to ...

The oil will be sold at market price, said Trump in a social media post.

Trump says Venezuela to send US up to 50 million barrels of oil

The oil is worth about US$2.8 billion at current market prices, with the proceeds benefiting both countries

Chevron is the only Western firm allowed to produce and export crude oil in Venezuela amid American sanctions.

Chevron lines up 11 ships as Venezuela’s dark fleet vanishes

Tankers of the shadow fleet typically turn off or spoof their transponders to disguise their location

Refiners in South-east Asian countries have been challenged in recent years by rapid capacity growth in the region, driven largely by China.

China’s Hengyi pushes ahead with Brunei oil refinery expansion

Global oil refining capacity is set to rebound this year after shrinking in 2025

The oil is also deeply discounted, making it popular with China’s independent refiners, known as teapots.

Blow to China from loss of Venezuela oil blunted by hoard at sea

The Asian nation is the major buyer of crude from the South American country

The nation currently produces about one million barrels a day, compared to nearly four million barrels in 1974.

Trump’s Venezuela oil revival plan is a US$100 billion gamble

The country sits atop the world’s largest oil reserves

A growing pool of court-recognised claimants is competing for recovery from Citgo's parent company through US legal proceedings.

Venezuela’s billions in distressed debt: Who is in line to collect?

[NEW YORK/LONDON] The toppling of President Nicolas Maduro has thrust Venezuela’s debt crisis – one of the world’s largest unresolved sovereign defaults – into the limelight.