(World Oil) – Vitol Group has stepped up oil purchases in Venezuela in the final weeks of a U.S. license that allows the world’s largest independent oil trader to do business in the sanctioned nation. Vitol is set to load at least 2.5 million barrels of Venezuelan oil this month, according to documents seen by Bloomberg. It has more than
(Investing) – WASHINGTON – U.S. President Donald Trump’s energy security council plans to host a summit in Alaska in early June, when it hopes Japan and South Korea will announce commitments to the Alaska LNG project, a source familiar with the matter said on Thursday. Trump has touted the $44 billion Alaska liquefied natural gas project, which would deliver gas from the state’s
(Reuters) – Top oilfield services provider SLB missed estimates for first-quarter profit on Friday, as weaker Latin American demand dragged on its international business, and the company warned of a potential industry-wide shift due to economic uncertainty, volatile oil prices and rising tariff risks. Shares of the company fell nearly 2% in premarket trading following results. SLB’s report rounds out
(BOE Report) – Phillips 66 reported a bigger-than-expected loss in the first quarter on Friday, as lower refining margins amid a widespread maintenance and turnaround activity across the U.S. refining sector weighed on its performance. U.S. refineries typically undergo seasonal maintenance and turnaround activities in preparation for the summer driving season, when fuel demand significantly increases. However, this scheduled downtime
(World Oil) – GeoPark Limited, an independent oil and gas company with over 20 years of successful operations across Latin America, announces the appointment of Felipe Bayon as its new Chief Executive Officer and a member of the Board of Directors, effective June 1, 2025. This appointment follows the decision of Andrés Ocampo to step down for personal reasons. Mr. Bayon is recognized
(Investing) – WASHINGTON -The Trump administration has terminated federal employees in charge of U.S. global climate policy and climate aid as part of its reorganization of the country’s diplomatic focus, the State Department said on Friday. The career employees in the Office of Global Change, which came under the State Department’s Bureau of Oceans and International Environmental and Scientific Affairs, played
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