Oil and gas

China has bought some Venezuelan oil from the US, Chris Wright says

In Asia, several Indian refiners have bought Venezuela’s flagship Merey crude following the US action

Chevron is currently the only major US producer that still operates in Venezuela.

ExxonMobil, Chevron clock best month since 2022 as crude surges

The robust moves come alongside an upswing in oil prices and a broader rally

Prime Minister Mark Carney has stressed Canada is not seeking a free trade agreement with India.

Canada, India pledge to grow oil, petroleum trade in energy reset

The expansion of the Trans Mountain pipeline has opened a direct path for crude shipments to the Asian giant

Chevron’s shipments are all bound for US refiners, including Valero Energy and Phillips 66.

Chevron amasses largest fleet in almost a year to ship Venezuelan oil

The US has also enlisted traders Trafigura Group and Vitol Group to help sell as much as 50 million barrels of oil

A structure near the headquarters of Venezuela's state-run oil company PDVSA in Caracas. Vitol and Trafigura have been granted contracts to sell 30 million to 50 million barrels of Venezuelan oil.

Vitol and Trafigura – traders at the heart of Trump’s Venezuela oil grab

The companies’ special licences to ship still-sanctioned barrels have given them a head start in a potentially lucrative trade

For shipowners, that means higher rates on some routes as current and future oil flows are redirected, with Washington starting to ease sanctions on Venezuela.

Oil tanker rates spike as US push into Venezuela redraws flows

The global oil industry is working through the consequences of Washington’s move earlier this month

Reviving the oil industry and undoing years of underinvestment and mismanagement would, by some estimates, require US$100 billion and take a decade.

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 ...