The country with the largest proven oil reserves in the world, clocking in at a whopping 299,953,000,000 barrels of proven oil, is currently suffering a fuel shortage so great that it is being viewed by […]
It may be the oil market’s worst-kept secret: millions of barrels of Venezuelan heavy crude, embargoed by the U.S., have been surreptitiously going to China. The cat-and-mouse games that avoid detection and sanctions include ship-to-ship transfers, […]
India is hoping U.S. President Joe Biden’s administration will take a softer line against adversaries Iran and Venezuela, enabling the world’s third-largest oil importer to diversify its sources of crude. The country would be happy […]
Venezuelan officials have met in recent months with small domestic oilfield contractors to propose letting them operate fields owned by state-owned PDVSA while pocketing part of the proceeds, according to six people with knowledge of […]
The island nation of Palau says a tanker that recently loaded Venezuelan crude was using a false signal to disguise its identity, potentially putting the Pacific country in the crosshairs of U.S. sanctions. Palau is […]
After the Second World War crude oil and control of its production became an important driver of global geopolitics. Crude oil became an essential component in a world economy powered by fossil fuels and experiencing a massive […]
Energy News Beat Publishers Note: We have to applaud the leadership in India for looking at the lowest cost energy for their people. They also look at all forms of power to include solar, wind, […]
Energy News Beat Publishers Note: This is only one of the problems for OPEC and OPEC + in controlling world oil prices. Countries know that with the Biden administration, they will not have sanction enforcement, […]
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