Category: Production

G7 Countries Hold Off on Releasing Emergency Oil Supplies

The New York Times – Business:
Finance ministers for the seven industrialized countries met on Monday and said they would consider releasing oil from reserves but were not ready to do so now.
U.S. and Israeli War With Iran Will Likely Send Oil Prices Soaring

The New York Times – Business:
Prices of oil and other commodities are expected to jump when trading resumes on Sunday, but how long they will stay high will depend on what the United States, Israel and Iran do next.
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.
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.
Trump’s $100 Billion Venezuela Oil Plan Gets a Cool Reception

President Trump met with oil and gas executives on Friday in an effort to push them to invest money in Venezuela, a plan many of them are reluctant to embrace.
Wary of Investing in Venezuela, Big Oil Heads to the White House

The amounts of money, time and political uncertainty trouble executives at large Western oil companies, who plan to meet with President Trump on Friday.
Oil Firms Say Venezuela Owes Them Billions, Complicating Trump’s Plan

Companies like Exxon Mobil and ConocoPhillips say that Venezuela owes them billions of dollars for confiscating their assets two decades ago.
How Venezuela’s Oil Could Shake Up the World Supply

The country could, eventually, attract investment and re-emerge as a force in the oil markets, but many analysts are concerned about an oversupply.
Chevron’s Risky Bet to Stay in Venezuela May Now Give It an Advantage

The second-largest U.S. oil company, which kept pumping oil in the country after others left, could find it relatively easy to expand its operations if the political conditions there improve.
A Seized Oil Tanker and the Big Business of Dark Fleet Smuggling

The U.S. seizure of a vessel off Venezuela is likely to squeeze the country’s government, but do little to counter the tankers that secretively move oil from sanctioned countries.
The Luxury Electric Vehicle Is in Trouble

Sales of expensive battery-powered cars like the Ford F-150 Lightning have stalled, forcing automakers to slow production and offer more affordable vehicles.
The Workers Left Out of Trump’s Drug-Manufacturing Renaissance

President Trump wants pharmaceutical production to return to the United States. A shuttered factory in Louisiana shows how hard that will be for generic medicines.