Summary Dept of Energy in talks with Indian govt on Venezuelan oil sale US made oil supply diversification central to India trade talks Interim trade deal effective April, India trade minister says NEW DELHI, Feb 20 (Reuters) – The United States is in “active negotiation” over the sale of Venezuelan oil to India, to help … Read more

Summary Oil prices hold near six-month high Strait of Hormuz supply risk in focus Traders and investors bet on rising prices: Saxo Bank (Reuters) – Oil prices traded near six-month highs on Friday, poised for their first weekly gain in three weeks on growing concern over potential conflict after Washington said Tehran will suffer if it … Read more

Summary Chevron in prime position for early gains in Venezuela Challenges include repairing infrastructure, securing diluents Legal risks and regulatory uncertainty remain for oil companies CABIMAS, Venezuela, Feb 19 (Reuters) – In September, a rig used to drill wells in shallow waters completed the long trip from China to Venezuela’s oil-producing region of Lake Maracaibo. … Read more

Summary Brent and WTI benchmarks up more than 1% Prices buoyed by concern over potential U.S.-Iran conflict US crude and fuel inventories fell last week, sources said (Reuters) – Oil prices rose on Thursday, driven by increasing concerns over potential military conflict between the United States and Iran as both countries stepped up military activity in the … Read more

SM Energy said on Wednesday it would sell select assets in South Texas to Caturus Energy for $950 million in cash to reduce debt and bolster its capital structure. The U.S.-based oil and gas producer has agreed to sell nearly 61,000 net acres and about 260 producing wells in its southern Maverick Basin position in … Read more

Summary Ukraine peace talks end in Geneva after Zelenskiy says Russia stalling Iran, US reach understanding on main ‘guiding principles’ in nuclear talks Eurasia Group sees 65% chance of US strikes on Iran by April Iran and Russia to conduct navy drill on Thursday, Fars news agency reports (Reuters) – Oil prices gained nearly 3% … Read more

U.S. energy secretary Chris Wright said on Tuesday that Venezuela could add “several hundred thousand barrels per day” to oil production by year-end.“I think you’ll see several 100,000 barrels a day of additional production by the end of this year,” Wright said speaking at a conference in Paris. (Reporting by Kate Abnet, Forrest Crellin, Writing … Read more

By Nidhi Verma and Jarrett Renshaw Reliance applied for general authorisation in January Direct import of Venezuelan oil to help replace Russian oil Trump wants India to buy more oil from US and Venezuela NEW DELHI/WASHINGTON, Feb 13 (Reuters) – The United States has issued a general licence to India’s Reliance Industries Ltd (RELI.NS), opens … Read more

U.S. President Donald Trump said on Thursday that billionaire energy entrepreneur and Republican donor Harry Sargeant III has no authority to act on behalf of the U.S., adding that relations between the U.S. and Venezuela had been “extraordinary.” “He has no authority, in any way, shape, or form, to act on behalf of the United … Read more

Summary Trump says talks with Tehran will continue Large build in US crude stocks caps price gains IEA lowers global oil demand forecast for 2026 (Reuters) – Oil prices slipped on Thursday as investors weighed the International Energy Agency’s lowering of its global oil demand forecast for 2026 against potential escalation of U.S.-Iran tensions. Brent … Read more

The U.S. Treasury Department on Tuesday issued a general license authorizing the provision of U.S. goods, technology, software or services for the exploration, development or production of oil and gas in Venezuela, a long-awaited permit that could help increase output in the country. Washington has been relaxing sanctions on Venezuela’s energy industry, first imposed in … Read more

Summary Presidio’s Goldman facility is a first in oil and gas industry Acquisition finance provided by Goldman, with debt held by bank for use in future ABS Structure offers lower debt costs, as well as speed and more certainty in deal talks (Reuters) – Presidio Investment Holdings is working with Goldman Sachs on a first-of-its-kind debt … Read more

  (Reuters) – Shell  CEO Wael Sawan said on Tuesday the oil major does not have to buy additional assets anytime soon to deliver on its 2030 targets. In March, Sawan projected a 100,000 to 200,000 barrels-of-oil-equivalent-per-day gap for the company by 2030, but said last week the company has largely covered that near‑term shortfall. Shell needs … Read more

Natural gas producer Expand Energy on Monday announced the departure of CEO Domenic Dell’Osso and also said it plans to relocate its corporate headquarters to Houston from Oklahoma City.The company said Chairman Michael Wichterich would take charge as interim chief. Dell’Osso will serve as an external advisor for a period of time. The company added … Read more

(Reuters) – Oil prices edged up on Tuesday as traders gauged the potential for supply disruptions after U.S. guidance for vessels transiting the Strait of Hormuz kept attention squarely on tensions between Washington and Tehran. Brent crude oil futures were up 37 cents, or 0.5%, at $69.41 a barrel by 1136 GMT. U.S. West Texas Intermediate crude … Read more

Summary Oil prices fall as US-Iran talks ease supply fears Iran threatens US bases if attacked, despite talks EU proposes ban on services supporting Russia’s oil exports India moving away from Russian oil, sources say (Reuters) – Oil prices were stable on Monday after the U.S. and Iran pledged to continue indirect talks, easing oil … Read more

(Reuters) – Mexican officials are evaluating how to send fuel to Cuba to help meet basic needs such as electricity and transportation without triggering reprisals from Washington, which has threatened tariffs against countries supplying fuel to the Caribbean island, four sources familiar with the matter said. The sources said high-level Mexican officials have been talking … Read more

Geopolitical risk reverses oil price decline (Reuters) – Oil prices settled higher on Friday, reversing earlier losses as traders worried that this week’s talks between the U.S. and Iran had failed to reduce the risk of a military conflict between the two countries. Brent crude futures settled at $68.05 a barrel, up 50 cents, or … Read more

Summary Weekly price drop would be first since mid-December US, Iran in dispute over agenda for talks in Oman Geopolitical risk stems oil price decline (Reuters) – Oil prices held steady on Friday as investors awaited news from high-stakes talks between the United States and Iran that are taking place in Oman amid fears of another supply-disrupting … Read more

(Reuters ) – Kuwait Oil Company (KOC) is in talks with some U.S. firms on potential cooperation to develop its shale oil and gas resources, its chief executive said on Thursday. KOC is “engaging with some U.S. operators to explore how their expertise can support the development of Kuwait’s shale oil and shale gas resources,” … Read more

(Reuters) – ConocoPhillips  said on Thursday it aims to cut capital and operating costs by $1 billion in 2026, after the U.S. oil and gas producer missed Wall Street estimates for fourth-quarter profit due to weaker crude prices. Oil producers have been under mounting pressure from falling prices, prompting efforts across the sector to rein in spending, scale … Read more

Summary US, Iran prepare for talks on Friday About a fifth of global oil consumption passes through Strait of Hormuz Volatility leads to record WTI Midland contracts in January Brent crude still close to five-month high (Reuters) – Oil prices fell more than 2% on Thursday but held close to multi-month highs after the U.S. … Read more

  Investors rushed to lock in oil prices at record levels in January amid concerns around Iranian crude supplies and more Venezuelan barrels heading to the U.S. Gulf Coast. Hedging can help producers reduce risk and protect their production from sharp moves in the market by locking in a price for the oil. It can … Read more

(Reuters) – The U.S. government is working to issue as early as this week a general license allowing companies to produce oil and gas in Venezuela, as Washington seeks to encourage expanded output in the OPEC nation since capturing its president, three sources close to the matter told Reuters. The move by the Treasury’s Office … Read more

Feb 3 (Reuters) – Marathon Petroleum  reported fourth-quarter profit above Wall Street estimate on Tuesday, as a 44% jump in refining margins underscored stronger operational performance after a prolonged downturn in 2024. Shares of the country’s top refiner gained nearly 7% in premarket trading. U.S. fuel maker margins have begun to rebound from multi-year lows … Read more