US Judge allows Danish firm Orsted to resume Rhode Island offshore project that Trump stopped
The federal court on Monday allowed Danish offshore wind developer Orsted, along with four other projects that were halted by the U.S. administration of President Donald Trump last month, to resume work on their nearly completed Revolution Wind project. The decision?by?U.S. The ruling by U.S. District Judge Royce Lamberth represents a legal defeat for Trump who had sought to stop the expansion of offshore winds in federal waters.
API chief: US oil industry needs to reform its Venezuela policy on security in order to enter the country.
American Petroleum Institute President Mike Sommers said that the U.S. Oil Industry must have in place a number of prerequisites in Venezuela, including a workforce security policy and contract sanctity. He made this statement during a phone conference with journalists on Monday. He said that the U.S. Oil Industry had welcomed the move to remove Nicolas Maduro earlier this month…
Oil Prices Dip as Investors Consider Iran Supply Concerns, Venezuelan Exports
Oil prices fell slightly on Monday after Iran said it had total control following the biggest anti-government demonstrations in years, easing some concerns over supply, while investors also weighed efforts to resume oil exports from Venezuela.Brent crude futures lost 28 cents, or 0.44%, to $63.06 a barrel by 1402 GMT while U.S. West Texas Intermediate crude was at $58.78 a barrel…
What's at stake in Uganda’s presidential elections?
On Thursday, Ugandan President Yoweri Museveni is seeking to extend his four decade rule in an election which has raised questions about his eventual successor. Although political analysts claim that Museveni and the National Resistance Movement (NRM), his party, are almost certain to win the presidential and parliamentary election due to their stranglehold over Ugandan institutions…
Veteran Ugandan leader eyes new term amid succession talk
After a violent campaign and questions over his successor, it is expected that Ugandan President Yoweri Museveni will extend his four-decade reign in an election held on Thursday. Museveni, a former rebel leader and former president who toppled his predecessor in 1986 is now 81 years old and faces seven opponents. He claims that another four years at the helm - his seventh term – would enable him to "protect" Uganda's relative stability and peace.
Trump blocks courts from seizing Venezuelan Oil Revenue in US Accounts
The White House announced on Saturday that U.S. president Donald Trump had signed an executive order to prevent?courts and creditors from impounding revenues tied to the sale of Venezuelan oil in U.S. Treasury accounts. The order stated that the money held in foreign government deposits should be used to create "peace and prosperity" in Venezuela. The emergency order was signed Friday, a little more than a week after U.S.
New York Sues Trump Administration Over Halt on Two Offshore Wind Projects
New York's Attorney General sued the Trump Administration on Friday for suspending the construction of two major offshore wind project that the state says it needs to power a million homes and reduce its reliance on fossil fuels.Letitia J. James, New York's Attorney General, has filed two lawsuits asking a Washington federal court to stop President Donald Trump from…
Trump calls on US oil companies to fix Venezuela's rotting energy industry
Donald Trump, the U.S. president, began a meeting at the White House on Friday to discuss Venezuela. He said he wanted executives from some of the largest oil companies in the world to invest $100 billion to expand Venezuela's production. The meeting reflects Trump's importance for oil in his strategy towards the OPEC nation, after U.S. troops seized Nicolas Maduro…
Exxon CEO: We are ready to assess reentering Venezuela and will send a team within a few weeks.
Exxon Mobil CEO Darren Woods stated?on Friday that the U.S. 'oil major could start from the ground up in Venezuela, and was prepared to evaluate the possibility of returning to the country. Woods stated that it was "absolutely critical" to have a technical team in place for the purpose of assessing the state of 'the industry. He added that a team could be on the ground in a matter of weeks.
Trump meets with oil companies in Venezuela
Donald Trump, the U.S. president, began a meeting at the White House with executives of some of the largest oil companies in the world on Friday. He said that increasing crude production from Venezuela will benefit the United States. The meeting reflects Trump's importance for oil in his strategy towards the OPEC nation, after U.S. troops?seized South American leader…
Trump's "drill baby, drill" agenda in Venezuela hurts producers at the home
Trump wants $50 oil but it's below the profit level of U.S. Venezuelan oil redirected to squeeze U.S. Venezuelan oil to benefit U.S. HOUSTON, January 9 - U.S. Oil Producers already struggling with low oil prices face renewed pressure as President Donald Trump presses them to increase output in Venezuela – a move which would weaken oil markets, reduce revenues and hurt the industry at home.
US oil companies juggle Venezuelan opportunity and investor concerns ahead of White House Summit
U.S. Oil executives will weigh the business potential of Venezuela and the enthusiasm expressed by President Donald Trump against the cautious attitude expressed by their investors when they are summoned to meet at the White House this Friday to discuss possible investment plans. Speaking at the Goldman Sachs Energy?conference held in Miami, Secretary of energy Chris Wright repeated Trump's claim that U.S.
European stocks reach record highs as Glencore leaps on Rio Tinto's interest
European shares reached a record high on Friday, boosted by an 8.3% increase in Glencore. This put the 'STOXX 600 index on course for its longest winning streak since last May. After two sessions of losses the rebound shows that investors are resilient, despite weak earnings reports, and geopolitical tensions caused by U.S. action in Venezuela. Glencore shares reached their highest level since July 2024. Rio Tinto's share price fell by 2.6%.
Trump has announced that he will be meeting with Venezuelan Machado in the next few days
Donald Trump, the U.S. president, announced on Thursday that Venezuelan leader Maria Corina Machado would be visiting Washington next week. In an interview with Fox News' "Hannity", Trump was asked whether he planned to?meet? Machado after the U.S. attacks on Venezuela, which resulted in Maduro being captured. When contacted for more information about the meeting, The White House didn't immediately respond.
Sources say that Chevron Vitol Trafigura are all competing to control Venezuelan oil imports.
Sources familiar with the situation say that Chevron, Vitol, Trafigura and other companies are competing to get deals from the U.S. Government to export crude oil from Venezuela. Venezuelan officials are trying to control oil sales in the United States. This competition is a reflection of the desire for many oil companies to gain access to Venezuela's crude oil stocks and production. Donald Trump, the U.S.
Sources say that the Embassies of Venezuela are planning visits by American and European oil companies
Two sources said that foreign embassies in Venezuela are arranging visits next week with representatives of American and European oil firms. This follows the U.S. announcement about a $2 billion deal for oil and the supply to Venezuela of U.S. products. Sources said that the meetings will include some with PDVSA (the state oil company) to help advance Venezuelan oil supply negotiation and do initial assessments of Venezuelan infrastructure.
Oil Prices Rise 2% Amidst Venezuela Conflict, Supply Concerns
Oil prices rose about 2% on Thursday after two days of declines as investors assessed developments in Venezuela and on worries about supplies from Russia, Iraq and Iran.Brent futures rose $1.21, or 2%, to $61.17 per barrel at 11:17 a.m. EST (1617 GMT), while U.S. West Texas Intermediate crude gained $1.02, or 1.8%, to $57.01.The U.S. seized two Venezuela-linked oil tankers in the Atlantic Ocean on Wednesday…
Vitol, Trafigura and the White House invited to Venezuelan oil discussions on Friday
Four sources familiar with the situation have confirmed that the U.S. administration of President Donald Trump has invited the heads of commodity trading companies Vitol and Trafigura to meet at the White House this Friday to discuss the marketing Venezuelan crude oil. European trading houses dominate global oil trading, and could assist the U.S. in selling oil from Venezuela despite Washington's desire for U.S. oil majors to take the lead.
World Economic Forum survey shows business will be tougher by 2025
A survey released by the World Economic Forum on Thursday showed that companies found it more difficult to do business in 2020 due to a decline in global cooperation in areas such as trade, 'climate', technology, and security. The online survey of 799 executives from 81 countries, using the McKinsey Global Survey Panel, was released ahead of the WEF’s next annual gathering in Davos.
FT reports that US oil companies need guarantees before investing in Venezuela.
The Financial Times reported that U.S. Oil Companies want "serious assurances" from Washington before making large?investments into Venezuela. President Donald Trump wants them to support his efforts to reshape the energy?markets. The FT, citing sources familiar with the issue, reported that U.S. officials met with energy executives on Wednesday in Miami. Washington and Caracas are progressing, so the talks will come.