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Chevron, Halliburton near deals to invest billions in Venezuela’s oil fields

Chevron and other U.S. energy companies are nearing deals to invest billions of dollars in Venezuela's oil fields, according to an exclusive report by The Wall Street Journal News Corp published Friday, as the Trump administration simultaneously pursues a separate…

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Ukraine halts Black Sea tanker strikes at Vance’s request

Ukraine has paused drone strikes on oil tankers using Russia's Black Sea port of Novorossiysk after US Vice President JD Vance asked President Volodymyr Zelenskyy to stop the attacks during a phone call on July 31, the Financial Times reported…

Chevron CEO warns energy markets ‘fragile’ as Iran war disrupts key shipping lanes

The expanding US-Iran conflict has turned two of the world's most critical maritime chokepoints into active flashpoints, forcing oil tankers on costly detours around Africa and raising fears that Egypt's Suez Canal could be drawn into the widening war.

Kazakhstan oil output fell 14% in July amid CPC drone attacks

Kazakhstan's crude oil and gas condensate production fell 14% in July compared with June as repeated drone attacks on tankers near the Caspian Pipeline Consortium terminal at Novorossiysk disrupted the country's primary export route, according to Reuters. Output dropped to…

OPEC+ approves sixth straight output hike amid widening supply risks

The OPEC+ alliance agreed on Sunday to raise oil production quotas by 188,000 barrels per day starting in September, its sixth consecutive monthly increase, even as the conflict between the United States, Israel, and Iran continues to choke off key…

Trump administration warns Ukraine over Black Sea tanker strikes

The Trump administration formally warned Ukraine on Wednesday, July 22, to stop attacking non-Russian vessels in the Black Sea, after drone strikes hit four tankers near the Russian port of Novorossiysk that were loading oil produced in Kazakhstan, according to…

Oil supermajors set to post $45.8B in quarterly profit amid Iran war windfall

The world's largest oil companies are poised to report their strongest combined quarterly earnings since the 2022 Russia-Ukraine energy crisis, as the U.S.-Israeli war on Iran and the effective closure of the Strait of Hormuz drove a historic disruption to…

Chevron set to sign Iraq oil and pipeline deals Friday

Iraqi Prime Minister Ali al-Zaidi's visit to Washington this week is yielding a wave of energy agreements, with Chevron poised to formalize memorandums of understanding with Baghdad covering the West Qurna 2 and Nassiriya oilfields as part of a broader…

Iraq signs Halliburton deal to develop two Basra oil fields

Iraq's state-owned Basra Oil Company signed a five-year joint management contract with Halliburton on Sunday to develop two oil fields in southern Basra province, as Baghdad pushes to expand production capacity amid a simmering dispute with OPEC over output quotas.