Category: Exports

Mike Wirth framed Chevron’s new $7 billion Venezuela commitment as a “win-win-win” during a Bloomberg Television interview from Caracas: better heavy crude for U.S. Gulf Coast refiners, stronger energy security, and fresh investment and jobs for Venezuela.

Clark Savage737

The September 2, 2026 sit-down with Tyler Kendall came the same day Chevron announced updated joint-venture agreements with PDVSA. The company will invest more than $7 billion over five years across three existing ventures, add acreage in the Orinoco Belt’s Carabobo area, and target more than 600,000 barrels per day of production—more than triple the […]

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Chinese refiners are paying record premiums for Russian ESPO crude as cheap sanctioned barrels from Iran dry up and Venezuelan oil moves onto the open market.

Clark Savage983

November-loading ESPO from Kozmino is trading at more than $7 per barrel over Brent, with some offers to independent refiners reaching $10, according to traders cited by Bloomberg and OilPrice.com. That is a sharp reversal from the deep discounts China extracted for years. ESPO loads on Russia’s Pacific coast and reaches Chinese ports in less […]

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Global Diesel Shortage on the Horizon

Clark Savage1160

If you think diesel prices will ease next year, Wall Street is not with you. On August 31, 2026, CoinBureau founder Nic Puckrin flagged Goldman Sachs for more than doubling its 2027 diesel-margin forecasts, arguing that refineries are being hit from every direction—Middle East strikes, Russian export bans, and winter demand—with diesel at the epicenter […]

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Alberta Premier Danielle Smith is spot on: the new American tariffs will affect $1.5 billion of Alberta goods. The new Canadian counter-tariffs will affect $4.8 billion of the provincial economy.

Clark Savage654

That is not a talking point. It is the arithmetic of an integrated energy market that Ottawa cannot wish away, and Washington already understands. Smith’s warning, circulating widely after her CBC Power & Politics appearance and a clip posted by Stephen Taylor, is blunt: Alberta businesses will be hurt more by Canada’s own counter-tariffs than […]

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Oil Will Find a Way

Clark Savage579

In Jurassic Park, Dr. Ian Malcolm delivers one of cinema’s most memorable lines: “Life finds a way.” Nature adapts, persists, and routes around obstacles no matter how carefully the fences are built. In the summer of 2026, crude oil is doing the same thing. Blockades and attacks have choked the Strait of Hormuz and the […]

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