By Marianna Parraga and Shariq Khan HOUSTON/NEW YORK, Feb 3 (Reuters) – U.S. Gulf Coast refiners are struggling to absorb a rapid increase in Venezuelan crude shipments since last month’s landmark $2 billion supply deal between Caracas and Washington, pressuring prices and leaving some volumes unsold, according to traders and shipping data. Weak U.S. demand … Read more
WASHINGTON (AP) — Secretary of State Marco Rubio plans to warn Wednesday that the Trump administration is ready to take further military action against Venezuela if the country’s interim leadership deviates from U.S. expectations. In prepared testimony for a hearing before the Senate Foreign Relations Committee, Rubio says the US is not at war with … Read more
By Libby George and Trevor Hunnicutt LONDON/WASHINGTON, Jan 23 (Reuters) – U.S. controls on Venezuela’s oil exports have seized barrels that had serviced debt to China, lining up another potential showdown between the two superpowers that could further complicate the South American country’s path out of default. About a tenth of Venezuela’s $150 billion foreign … Read more
BOGOTA, Colombia (AP) — Environmental experts warn that U.S. efforts to modernize and boost Venezuela’s vast oil reserves could worsen decades of ecological damage and increase pollution from global warming in a country already struggling with the legacy of a declining oil industry. The warnings come as Washington has stepped up pressure on Venezuela following … Read more
President Donald Trump has said that US oil companies, as well as some European players, will spend at least $100 billion in Venezuela to “rebuild very quickly. [its] dilapidated oil industry” and creating great wealth during a meeting with top oil executives on January 9 at the White House. But the CEOs of ExxonMobil, ConocoPhillips … Read more
WASHINGTON (AP) — When it comes to claiming that Venezuelan oil is now under his control, President Donald Trump doesn’t mince words. But no small part of that oil belongs to China under contracts it struck with Caracas years ago, setting the stage for a delicate diplomatic dance over the next few weeks. Some experts … Read more
Donald Trump has signaled that Greenland is in his sights after capturing Nicolas Maduro, the Venezuelan dictator, and taking him to the US to stand trial. “We need Greenland, absolutely,” the US president told The Atlantic magazine, adding that the Danish territory is “surrounded by Russian and Chinese ships.” He said officials in his administration … Read more
President Donald Trump last week ordered a “complete blockade” of all sanctioned oil tankers entering or leaving Venezuela — a giant escalation in his pressure campaign against Venezuelan President Nicolas Maduro. The idea appears to be to cripple the country’s economy dependent on oil exports, although no official sanctions have been imposed. Over the weekend, … Read more