1 week ago Why big oil giants may not rush to buy into Donald Trump’s Venezuelan vision

It may well be safer, easier and cheaper for US companies to procure whatever oil the US economy needs at homeThere are a few reasons that Donald Trump – now self-anointed acting President of Venezuela, as well as the United States – might be so excited about appropriating Venezuela’s oil.Trump may be counting on some boost from cheap oil to the US economy: he is obsessed with the price of gas. As the midterm elections approach, he has become concerned about unemployment. Deeply imprinted memories of scarcity during the oil crises of the 1970s may prime his belief that cheap oil cures it all. Continue reading...

Politics

2 w. ago What to know about the gold markets as prices reach record highs

Gold prices have soared to record highs amid global political tensions

Economics

2 w. ago US could ease sanctions on Venezuela next week, says Bessent

Trump is seeking to convince sceptical US oil companies to invest in Latin American nation after overthrow of Maduro

Politics

2 w. ago Trump’s territorial ambition: new imperialism or a case of the emperor’s new clothes?

Trump’s attack on Venezuela suggests expansionism is under way but some argue it is simply standard US foreign policy stripped of hypocrisyThe attack on Venezuela and the seizure of its president was a shocking enough start to 2026, but it was only the next day, when the smoke had dispersed and Donald Trump was flying from Florida to Washington DC in triumph, that it became clear the world had entered a new era.The US president was leaning on a bulkhead on Air Force One, in a charcoal suit and gold tie, regaling reporters with inside details of the abduction of Nicolás Maduro. He claimed his government was “in charge” of Venezuela and that US companies were poised to extract the country’s oil wealth. Continue reading...

Politics

2 w. ago Trump news at a glance: president pitches oil companies on major extractions in Venezuela

‘We’re going to be extracting numbers in terms of oil like few people have seen,’ Trump said – key US politics stories from 9 January 2025Donald Trump had a message for fossil-fuel companies on Friday: Venezuela is now “open for business” as the US president vowed the country’s resources would be extracted for the benefit of the US, oil companies – and “some” money for Venezuelans.At a roundtable press conference at the White House with more than a dozen oil executives, including leaders from Chevron, ExxonMobil and ConocoPhillips, the US president doubled down on claims that Nicolás Maduro’s arrest presents American oil companies with an unprecedented opportunity for extraction. Continue reading...

Politics

2 w. ago Trump promises oil companies ‘total safety’ in Venezuela as he urges them to invest billions

Country is ‘uninvestable’ today, president told, but CEOs signal they are ready to spend with supportDonald Trump promised oil giants “total safety, total security” in Venezuela in an effort to persuade them to invest $100bn in the country’s infrastructure after US forces toppled Nicolás Maduro from power.At a roundtable press conference at the White House on Friday afternoon with more than a dozen oil executives, including leaders from Chevron, ExxonMobil and ConocoPhilips, the US president doubled down on claims that Maduro’s arrest presents American oil companies with an unprecedented opportunity for extraction. Continue reading...

Politics

2 w. ago Donald Trump gives real reason he wants to own Greenland as he ramps up threats

Speaking at an event with oil companies hoping to be involved in Trump's raid of Venezuelan resources, the US President said: "We are going to do something on Greenland whether they like it or not."

Politics

2 w. ago Trump says major oil companies will invest $100B in Venezuela and promises them government security assistance

The U.S. government is attempting to take control of the Venezuelan oil industry

Politics

2 w. ago Trump says major oil companies will invest $100B in Venezuela ahead of White House meeting

The U.S. government is attempting to take control of the Venezuelan oil industry

Politics

2 w. ago Trump’s Venezuela strike won’t distract voters from the crises at home | Steven Greenhouse

As Americans worry about healthcare and affordability, the ‘no more wars’ president is helping oil companies insteadImmediately after Donald Trump ordered a military strike in Venezuela, many critics focused on how that attack violated international law as well as the US War Powers Resolution. But there hasn’t been nearly enough focus on the domestic implications of Trump’s move.Trump seems to have ordered his Venezuela venture in part to flip the script away from domestic matters, where things aren’t going well for him. His approval ratings are under water, and he’s getting low marks on the economy, health policy (just 30% approval), inflation (31% approval on the cost of living), his immigration crackdown (41% approval) and his sending the national guard into US cities. Then there’s the big thumbs down that Americans are giving to his tariffs, which have helped push up prices even though candidate Trump promised to lower prices on day one.Steven Greenhouse is a journalist and auth...

Politics

2 w. ago Trump predicts he’ll control Venezuela for YEARS and give oil riches to the people as post

TRUMP has said the US will run Venezuela for years and give its oil riches to the people. It comes after the US captured Venezuelan tyrant Nicolas Maduro and vowed to send its oil companies back into the Latin American country. Trump said: “We will rebuild it in a very profitable way. “We’re going to...

Politics

3 w. ago US oil companies warn they will need guarantees to invest in Venezuela

Donald Trump to hold more talks with industry bosses as president flexes power over energy markets

Events

3 w. ago US oil groups warn they will need guarantees to invest in Venezuela

Donald Trump to hold more talks with industry bosses as president flexes power over energy markets

Events

3 w. ago The art of the drill: Trump considers subsidies to push oil companies to drill in Venezuela

Two of the three major US oil companies pulled business out of Venezuela nearly two decades ago after assets were seized

Events

3 w. ago Trump claims Venezuela is set for an oil boom after US attack – history points to a bumpy road ahead

From Venezuela to Libya to Iraq, removal of dictators has not always guaranteed a surge in oil production, data showsHours after Nicolás Maduro was captured by US special forces in Venezuela and indicted on drugs, weapons and “narco-terrorism” charges, Donald Trump spoke extensively about his plans for something else entirely: oil.Venezuela’s oil reserves – reputedly the world’s largest – are set to be pumped by a parade of powerful US oil companies, according to the US president, most of whom have not operated in the country in decades. Continue reading...

Politics

3 w. ago Venezuela ‘turning over’ $2bn in oil to US, Trump says, in move that could cut supply to China

Deal indicates Venezuelan government is responding to Trump’s demand that they open up to US oil companies or risk more military interventionDonald Trump has said Venezuela will be “turning over” $2bn worth of Venezuelan crude to the United States, a flagship negotiation that would divert supplies from China while helping Venezuela avoid deeper oil production cuts.“This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!” Trump said in a post online. Continue reading...

Politics

3 w. ago Trump says US companies will invest billions in Venezuelan oil production. Experts aren’t so sure

Industry insiders say US oil firms want to ‘avoid getting screwed’ and will proceed with extreme caution in regionAnalysis: Trump’s focus on Venezuelan oil reinforces claim action was never about ‘war on drugs’Industry experts have expressed skepticism over Donald Trump’s bullish prediction that US big oil firms will rapidly invest tens of billions of dollars to fix Venezuelan infrastructure and ramp up production after the rendition of the country’s president, Nicolás Maduro.Without an “iron-clad guarantee” that the US federal government will fully reimburse them for the cost of rebuilding the country’s oil market, analysts expect global energy giants to proceed with extreme caution. Continue reading...

Politics

3 w. ago Trump says US will have to pay oil companies to rebuild Venezuela's aging infrastructure as he declares HIMSELF in charge of ambitious 18

Donald Trump said that the US must 'nurse' Venezuela back to health for the foreseeable future and may offer taxpayer-funded subsidies to oil companies to help rebuild.

Politics

3 w. ago Trump says US could reimburse oil companies that invest in Venezuela

US president looks to lure sceptical businesses to return to the country following the capture of Nicolás Maduro

Politics

3 w. ago Despite Trump’s hopes, big oil will be wary of rushing back to Venezuela | Nils Pratley

The US might aim to unlock the country’s reserves, but cost and political uncertainty make it look an uncertain optionUS energy stocks rise as Trump vows to unlock Venezuela’s oilVenezuela crisis - latest updatesThe theory sounds straightforward. Venezuela has vast oil reserves and used to produce more than three times as much volume as it does now. Therefore it should be a simple matter to upgrade the crumbling kit with an injection of dollars and watch the extra barrels and profits flow.That, roughly speaking, is the only clear part of Donald Trump’s plan for what happens next in Venezuela. “We’re going to have our very large US oil companies, the biggest anywhere in the world, go in, spend billions of dollars, fix the badly broken infrastructure – the oil infrastructure – and start making money for the country,” he said at the weekend. Continue reading...

Politics