Latest Oil Industry News & Updates

Washington, April 15 (IANS) US President Donald Trump on Wednesday said China was “very happy” with his decision to permanently open the Strait of Hormuz, asserting that Beijing had agreed not to send weapons to Iran as part of what he described as coordinated efforts to stabilise the region.In a social media post, Trump wrote, “China is very happy that I am permanently opening the Strait of Hormuz. I am doing it for them, also – And the World.”He added that the current crisis “will ne…

Washington, Jan 29 (IANS) A contentious US Senate hearing on Venezuela this week offered a revealing look at how Washington is fusing energy control, China’s debt diplomacy, sanctions, and calibrated force — a strategic mix that resembles challenges India faces across the Global South and the Indo-Pacific.Testifying before the Senate Foreign Relations Committee, US Secretary of State Marco Rubio showcased Venezuela as a case study of how great-power competition now plays out through oil acce…

Washington, Jan 9 (IANS) President Donald Trump is framing the US intervention in Venezuela not as a short-term military action but as a long-range economic and geopolitical reset—one that he says reclaims control of oil assets, deters rivals, curbs drug trafficking and sends a signal well beyond Latin America.In a sit-down interview on Fox News’ Hannity, Trump laid out a sweeping rationale for the operation that led to the capture of Venezuelan leader Nicolás Maduro, repeatedly returning t…

Washington, Jan 9 (IANS) The White House is prepared to allow India to buy Venezuelan oil under a new US-controlled framework, according to a senior administration official, signaling a potential reopening of supplies to one of Venezuela’s largest pre-sanctions customers as Washington moves to market the country’s crude globally.Asked whether the United States was ready and willing to allow India to purchase Venezuelan oil, given India’s large energy needs, an administration official respo…

New Delhi, Jan 5 (IANS) US President Donald Trump’s statement that the United States of America was now going to “run the country”, adding that American companies would rebuild Venezuela’s battered oil industry, continues to dominate news headlines with Washington’s media digging for details. And soon after the weekend Caracas raid, Trump indicated that Washington could further increase tariffs on Indian goods if it did not stop buying Russian oil.The US has already applied additional punitive d…