Category: Oil (Petroleum) and Gasoline

Jittery Markets Seek an Iran ‘Off-Ramp’

The New York Times – Business:
Oil prices spiked and stocks fell as tensions between Washington and Tehran unnerved investors.
Uber Taking Steps to Expand Number of EV Chargers Near Its Drivers

The New York Times – Business:
The company said it would encourage companies that operated chargers to install them in neighborhoods where its drivers lived and work.
Venezuela’s Natural Gas, Not Oil, Might Be a Big Early Prize

The New York Times – Business:
The South American country has natural gas that could be extracted and exported quickly, but U.S. sanctions, which are now being eased, have stymied development.
Chevron Points to Venezuela’s Promise as Big Oil Earnings Fall

The two largest U.S. oil companies, Chevron and Exxon Mobil, reported their lowest annual profits in years.
Lukoil Gas Station Franchisees Caught in a Fight Between US and Russia

After the United States imposed sanctions on Russia’s two biggest oil producers, the ripple effects wreaked havoc on business for local franchisees.
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.