Brazil's Petrobras could include Colombia gas project into 2027-2031 plan.
Petrobras, Brazil's state oil company, may include the Sirius offshore gas project in Colombia as part of its production curve that will be revealed later this year in the 2027-2031 Business Plan. She said that Petrobras had'made progress towards obtaining the licence,' but still needed to 'conclude consultations with local community members. It is the operator of the project, with a 44.4% share along with Colombian Ecopetrol. Anjos stated that the project envisages the construction of a pipeline to transport gas directly from the seabed to the coast, without the use of a platform.
How China's oil giants helped Beijing prepare an energy crisis
China's oil companies are at the forefront of Beijing prioritising energy security in the last decade. They have made investments that have helped to soften the impact of the closing of the Strait o'Hormuz. Sinopec PetroChina and CNOOC Ltd. have spent hundreds billions of dollars on drilling in China, while building and filling oil storage tanks for Beijing's energy security mandates. Since the U.S. and Israel war against Iran began 'in 'February, they sold fuel at capped domestic prices for months. Sometimes, ensuring energy security comes at a cost.
Russell: The oil industry in Asia wants Trump to abandon the Gulf but doesn't expect him to do so.
The crude oil industry in Asia has an idea on how to resolve the crisis caused by the conflict with Iran. They also know that their wish will not be granted, and are bracing themselves for a prolonged disruption of supplies from the Middle East. The APPEC conference held in Singapore this week was dominated by thousands of discussions about how to safely and sustainably reopen?Hormuz Strait. The answer was consistent. Donald Trump, the U.S. president, should 'back down' and leave the Gulf Region to allow other countries to clean up the mess that was created after the U.S. attacked Iran on 28 February.
Russell: The oil industry in Asia wants Trump to abandon the Gulf but doesn't expect him to do so.
Asia's crude-oil industry knows how to solve the crisis caused by the Iran conflict. But they know that their wish will not be granted, and are bracing themselves for a prolonged disruption of?supplies? from the Middle East. The APPEC Conference in Singapore this week was awash with thousands of conversations about how to safely and sustainably reopen?the Strait of Hormuz. The answer was consistent. U.S. president Donald Trump should 'back down and leave the Gulf Region to allow countries in the region to clean up the mess caused when the U.S. attacked Iran on 28 February.
Eni, the Italian energy company, doubles its efforts in Venezuela to recover debt
Analysts said that the Italian oil company Eni improved its chances to'recover more than $2.3bn owed by Venezuela' with the signing of a new oil project deal in the country this week. Eni has collected these receivables after nearly three decades of doing business in Venezuela. Eni was faced with a difficult choice as Washington and Caracas reopened Venezuela's oil industry to international investors this year. It could either deepen its commitment or risk worsening their chances of recovering their claims, while the United States pushed to restructure its old debt.
The Venezuelan billionaire that the US has been investigating for money laundering, now has a Pentagon Oil deal
Before recently, the billionaire who helped the Trump administration broker a sweeping long-term deal with Venezuela had been the target of U.S. investigations into money laundering involving funds embezzled by the state-owned PDVSA. Alejandro Betancourt, who helped U.S. authorities capture authoritarian leader Nicolas Maduro before, is now Washington's main partner in a unique oil deal with Caracas. According to the announcement made last week, the U.S. will have access to one-fifth Venezuela's oil reserves for many decades.
Eni, the Italian energy company, doubles its efforts in Venezuela to recover debt
Analysts said that the signing of a new deal for an oil project in Venezuela this week has increased the chances of Eni recovering the more than $2.3billion owed to it by Venezuela. Eni has collected these receivables after?nearly 30 years in Venezuela from the state-owned PDVSA. Eni was faced with a difficult choice as Washington and Caracas reopened Venezuela's oil industry to international investors this year. It could either deepen its commitment or risk worsening their chances of recovering their claims, while the United States pushed to restructure its old debt.
Citadel, a hedge fund giant, is reportedly looking to purchase US assets for shale production.
Citadel has been in talks with a?U.S. Five people with knowledge of the matter have confirmed that Citadel is considering expanding its?business into?physical assets. Four sources claim that Ken Griffin's firm was one of the bidders on WildFire Energy. The company was sold earlier this year by Warburg Pincus & Kayne Anderson. Magnolia Oil & Gas won the auction and agreed to purchase the Eagle Ford shale operator in South Texas, for $4.06 Billion. Sources said Citadel had engaged in a number of discussions with private equity firms who own exploration and production companies about buying oil-weighted properties.
Chevron doubles production in five years with $7 billion investment plan.
Chevron plans to invest a total of more than $7 billion in order to double the crude oil production from Venezuela, to 600,000 barrels per day, over the next five-year period. This is part of an expansion plan with PDVSA, following a recent energy reform. The U.S. Oil Major's expansion announced on Wednesday is the culmination after several months of negotiations conducted separately to Washington's announcement about an unprecedented deal that would take majority control over Venezuela's oil reserve of 65 billion barrels.
ROI-Trump plan risks derailing Venezuela oil recovery: Bousso
The plan of President Donald Trump to gain direct U.S. entry to Venezuela's vast reserves of oil could end up derailing the long-awaited revival in the South American country's energy industry by stifling the competition, distorting the markets and deterring foreign investment. Washington would acquire a 35% stake in North American Blue Energy Partners, a private oil company controlled by Alejandro Betancourt, a Venezuelan businessman. The company would be granted a?100-year lease on 17 Venezuelan oilfields with estimated reserves of 65 billion barrels. The?U.S. The?U.S.
Sources say that Trump's oil agreement with Venezuela raises concerns for some major producers.
Sources familiar with the situation said that the unprecedented deal between the U.S. and Venezuela to access a fifth of the country's oil reserves, and the role played by a Venezuelan businessman in this deal, has caused some oil companies to hesitate and ask questions when evaluating their?potential investment?. In a White House factsheet released late Monday, the White House outlined an arrangement whereby private oil company North American Blue Energy Partners would be granted a lease of 100 years for 17 oilfields located in Venezuela that hold 65 billion barrels worth of oil reserves. The U.S.
White House calls for additional refinery waivers in order to lower pump prices
According to two officials in the administration, the White House asked federal environmental regulators for permission to allow small oil refineries across the country to mix less biofuels than originally planned into their gasoline and Diesel. This is part of an effort to ease the pump price. This outcome would?please? the oil industry but cause a backlash among agricultural interests in the Midwest, where they have been fighting ferociously to enforce strong biofuel mandates for the benefit of the country's farmer.
Kharg Island, Iran and its energy sector
Oil has jumped on the escalating tensions with Iran, including a post created by AI for U.S. president Donald Trump, who claimed to have seen?the Kharg Island hub of oil being destroyed', a claim that was deemed "laughable" by an Iranian official. A U.S. official stated on Monday that there was no evidence to support such an attack. Here are some key facts about Iran's energy industry. Iran, the third-largest oil producer in the Organization of Petroleum Exporting Countries (OPEC), exported 90% of its crude through the island of?Kharg? before the war. However, since the U.S.
ConocoPhillips' new CEO inherits $7 Billion cash flow pledge on Alaska oil project
Analysts and investors have said that Andy 'O'Brien, the long-time CEO of ConocoPhillips, will be succeeded by Ryan Lance in the next month. He will inherit an Alaskan oil project, which will need to be completed, and costs to control, as well as a share price, which has lagged behind peers. ConocoPhillips, the 'largest independent U.S. oil exploration and production firm' announced its succession plan Thursday along with the company’s highest quarterly net income in 2022. The higher crude prices as a result of the Iran War boosted the earnings.
Norway asks Supreme Court to reverse environmental verdict against oilfields
The Norwegian government will ask the supreme court on Monday to overturn a lower-court ruling that found three oilfield permits invalid because they did not take climate into consideration. The case pits environmental groups against Norway's oil industry which provides half of the country's revenue as well as government policy to prolong extraction of natural gas and crude for many decades. Since Greenpeace and Young Friends of the Earth first brought the case before a court in 2023, two lower courts have ruled that Norway did not properly assess the impact of the three oil fields.
SLB has access to Venezuelan oilfield data via contract, say sources
Three sources said that a contract signed by SLB with Venezuela's PDVSA, the state-run oil company in Venezuela, last week gave the U.S. technology and oil services company access to oilfield data from the nation with the largest crude reserves. According to sources, the?deal?will enable SLB to upgrade and organize PDVSA’s vast but outdated database following years of neglect as well as a recent cyberattack. Venezuela hasn't published oil statistics for more than 10 years. The last annual bulletin from the oil ministry came out in 2015.
Chevron CEO scolds Trump for demanding lower gas prices
On Monday, President Donald Trump called again on oil companies to lower the price of gasoline for U.S. customers. He criticized Chevron CEO Mike Wirth for failing to credit his administration's efforts in helping the oil industry. Trump attacked Wirth after he was interviewed by Maria Bartiromo on Fox News' "Sunday morning Futures" program. "He conveniently forgot that without the genius and foresight of the TRUMP Administration the Oil Industry would be dead, as well as our Country." Trump wrote on his Truth Social platform. Oil prices are dropping, now! Oil prices must drop NOW! Trump wrote.
Bousso [edit test 2]
Donald Trump has increased the pressure on India to reduce its Russian oil purchases. It could cost Moscow vital revenues, but will mainly push more Russian crude oil onto an ever-growing shadow market. The U.S. President said that Indian Prime Minister Narendra modi had pledged on Wednesday to stop purchasing oil from Russia. India has not yet confirmed this agreement. Since the 2022 invasion of Ukraine by Moscow, India has been a major buyer of Russian crude oil. According to the International Energy Agency, India purchased 1.9 millions barrels of crude oil per day in the first nine month of 2025.
Officials: US company to take over Venezuela oilfields that were previously operated by Chinese and Russian firms
Two U.S. officials said that the U.S. company North American Blue Energy Partners will be taking over oilfields controlled by several Chinese firms and a Russian firm. They said that the takeover would be part of an?oil?production agreement President Donald Trump had announced with Venezuela. According to officials, the projects were part of 14 new contracts awarded to U.S. backed North American Blue Energy Partners. NABEP, owned by U.S. oil magnate Harry Sargeant, is now controlled and managed by Venezuelan Alejandro Betancourt.
Officials say that US oil company will take over Venezuelan oilfields that were previously operated by Chinese and Russian firms
Two U.S. officials have confirmed that North American Blue Energy Partners, a U.S.-based oil company, will take over some oilfields controlled by five 'Chinese' companies and one Russian firm. On Monday, two U.S. officials?told?that North American Blue Energy Partners will take?over some oilfields previously controlled by five chinese companies and a Russian firm. They said that the takeover would be part of an oil production agreement President Donald Trump had announced with Venezuela. According to officials, the projects were part of 14 new contracts awarded to U.S. backed North American Blue Energy Partners. NABEP, owned by U.S.