Category: Oil (Petroleum) and Gasoline

Venezuelan Lawmakers Approve Sweeping Overhaul of Oil Sector

Bowing to Trump administration pressure, the new legislation improves conditions for foreign oil companies and opens the way to slash the taxes they pay.
Russia’s Lukoil to Sell Its Foreign Assets to U.S. Investment Firm

The deal with Carlyle comes after the United States and the European Union imposed sanctions on Lukoil, putting a dent in the Kremlin’s oil revenue.
Why the Power May Not Go Out Until After the Storm Has Passed

The steady accumulation of snow and freezing rain and a rise in demand for electricity can cause problems long after the sky clears, energy experts said.
U.S. Automakers’ Foreign Troubles Now Extend to Canada

U.S. trade policy has devastated the Canadian auto industry and pushed the country to reach an agreement that will make it easier for Chinese companies to sell cars there.
Trump Wants U.S. Investment in Venezuela, but Sanctions Still Complicate It

With tight business restrictions still in place, companies may find it challenging to even assess what opportunities exist for them in the South American nation.
Storm Poses Big Threats to Power Grids Across U.S.

Managers of electric grids say freezing temperatures and ice and snow could lead to power outages in many places, potentially leaving millions in the dark.
At Davos, Global Leaders Gather to Ponder the Future of a Messy World

At its 56th annual meeting in Davos, the World Economic Forum will wrestle with war, economics, artificial intelligence and other pressing issues.
Big Oil’s Complicated Calculus for Investing in Venezuela

The industry has long prioritized projects with quick and reliable payback. Trump is pushing for a return to risk.
What’s Next for Cuba, Now That Its Main Oil Supplier Is Gone?

The Soviet Union was Cuba’s benefactor for decades. Venezuela took up the slack, and Mexico has supplied “humanitarian aid.” But the world is changing rapidly, our columnist says.
Trump Vows to Make Venezuela Rich. It Will Take More Than U.S. Cash.

History suggests that the price of oil and a wider distribution of wealth are as important as foreign investment.
U.S. Refiners to Profit as Trump Asserts Control Over Venezuelan Oil

The companies that turn oil into gasoline and diesel are likely to benefit more, right away, than the businesses that pump oil out of the ground.
Venezuela’s Oil Riches Are Years Off, but Winners and Losers Will Emerge

Companies that already have operations in the country stand to benefit, but those that have profited from a standoff between Caracas and Washington could lose out.