Valero Energy has emerged as a key focus for investors after renewed attention on Venezuela’s oil sector following the capture of President Nicolas Maduro and US President Donald Trump’s push to encourage American oil companies to help revive the country’s battered industry. The US-based refiner has drawn backing from both Wall Street analysts and prominent
Crude shipments to customers in Asia have not left Venezuela’s main oil ports for a fifth consecutive day on Tuesday, according to shipping data, extending the blockade for the OPEC nation’s top export market. Venezuela ships most of its crude to Asia-based buyers, so the extended closure is a major blow to state-run oil company PDVSA
Even as oil prices gyrated and a cloud of uncertainty looms over the market, the potential for rapid increase in Venezuelan oil production remained a distant dream. Experts and analysts believe that Venezuela would need a considerable amount of investments to even prop up oil production in the country to above 1.5 million barrels per
State-owned refiners in India continue to purchase Russian crude oil even as New Delhi seeks relief from US tariffs imposed over those imports, said a CNBC report citing energy analysts. The ongoing buying highlights the complexity of India’s energy strategy as it balances domestic fuel demand, pricing considerations, and growing geopolitical pressure from Washington. The
Global markets moved cautiously in Asian trading as investors digested political upheaval in Venezuela, fresh trade tensions between Japan and China, and renewed rhetoric from Washington over Greenland. Oil prices extended losses, resource stocks diverged, and currencies held steady as traders looked ahead to key US economic data later this week. Asian markets slip as
Chevron and private equity group Quantum Energy Partners are teaming up on a bid to acquire the international assets of sanctioned Russian oil producer Lukoil, Financial Times reported, citing people familiar with the matter. The assets are valued by Lukoil at around $22 billion and include oil and gas production, refining facilities, and an extensive
I have lived in Venezuela for nearly thirty years, through blackouts, protests, shortages, and currency resets that have come to feel like the seasons — inevitable, cyclical, and beyond our control. But last weekend was unlike anything I have ever witnessed. It was a night that cleaved time into a before and after — for
Chinese independent refiners are anticipated to increasingly rely on heavy crude from Iran and Russia in the coming months, as Venezuelan oil exports to China stall, according to dealers and analysts. According to a Reuters report, the revision comes after a US-Venezuela agreement that is expected to shift Venezuelan petroleum to the US, reducing access
Gold prices started on Wednesday on the back foot as the traders resorted to booking profits after the metal had hit $4,500 an ounce. Silver also fell sharply, tracking losses in gold. The white metal had gained 8% on Tuesday and gave up most of those gains on Wednesday. Meanwhile, oil prices were largely steady
Solana continues to extend its gains after rallying over the past few days. At the time of writing on Tuesday, SOL is trading above $137, up by more than 7% in the last seven days. The rally is fueled by institutional demand for SOL as spot exchange-traded funds (ETFs) recorded positive flows of more than