sanctions – Oil & Gas 360

Venezuelan leader Rodriguez says she was invited to US, NBC reports

February 12, 2026

(Investing) – WASHINGTON – Venezuelan interim leader President Delcy Rodriguez said she has been invited to the United States, according an interview released Thursday by NBC News as U.S. Energy Secretary Chris Wright visited Caracas. “I have been invited to the States,” Rodríguez was quoted as saying. “We’re contemplating coming there once we establish this cooperation and we can move forward

Top trader sees sanctions tightening market and lifting oil prices

February 12, 2026

(Oil Price) – The sanctions squeeze on oil supply from Russia and Iran are tightening the oil market and supporting crude prices as buyers look for additional legit barrels while sanctioned supply is piling in floating storage, according to the world’s biggest independent oil trader, Vitol. “The traditional buyers of those two supply sources are reaching for more Western or Saudi

US targets Iran’s ’shadow fleet’ over crackdown on protesters

January 23, 2026

(Investing) – WASHINGTON – The United States on Friday imposed sanctions on nine vessels of what is known as the shadow fleet and eight related firms, the U.S. Treasury Department said in a statement, as Washington sought to escalate pressure on Iran over the recent killing of protesters. The Treasury said the vessels and their respective owners or management firms, which

Iraq pulls the plug on Iranian gas

December 24, 2025

(Oil Price)– Iraq on Tuesday announced a complete suspension of natural gas imports from Iran, a move the electricity ministry said immediately knocked between 4,000 and 4,500 megawatts off the national power grid. On its face, the decision sounds dramatic. In practical terms, it is but the final step in a process that was already well underway. Iraqi officials have

Venezuela’s billions in distressed debt: who is in line to collect

December 19, 2025

(BOE Report)– Venezuela’s debt crisis is one of the largest unresolved sovereign defaults in the world, the legacy of years of economic collapse and U.S. sanctions that severed the country from international capital markets. The country has been in default since late 2017, when it missed payments on international bonds issued by the government and state oil company PDVSA. Since

Oil jumps over 1% as Trump orders blockade of sanctioned oil tankers leaving, entering Venezuela

December 17, 2025

(BOE Report)– U.S. crude futures rose more than 1% on Wednesday as U.S. President Donald Trump ordered “a total and complete” blockade of all sanctioned oil tankers entering and leaving Venezuela. U.S. crude futures were up 1.3%, or 72 cents, to trade at $55.99 at 0022 GMT. Oil prices settled near five-year lows in the previous session on progress in

Oil slips below $60 on Russia-Ukraine talks, weak China data

December 16, 2025

(Investing)– Oil prices fell below $60 a barrel on Tuesday, the lowest since May, as prospects for a Russia-Ukraine peace deal appeared to strengthen, raising expectations sanctions could be eased. Brent crude futures fell $1.03, or around 1.7%, to $59.53 a barrel at 1340 GMT, while U.S. West Texas Intermediate crude was trading at $55.76, down $1.06, or 1.9%. “Brent has dropped this

Shell sanctions Kaikias waterflood to extend Ursa production in U.S. Gulf

December 16, 2025

(World Oil)– Shell plc has taken a final investment decision (FID) on a waterflood project at its Kaikias field in the U.S. Gulf of America, marking a new phase of secondary recovery aimed at extending production from the Ursa hub. Shell Offshore Inc. said the Kaikias waterflood project will involve injecting water into the reservoir to displace additional oil toward existing

Oil tanker rates to stay strong into 2026 as sanctions remove ships for hire

December 15, 2025

(BOE Report)– The cost of shipping oil is likely to remain high in the first half of 2026 as the global fleet ages and a rising number of vessels are hit with Western sanctions, shipping sources say, though rates could be capped in the second half. In recent weeks, the cost of shipping oil has risen to about $130,000 a

Oil tanker rates skyrocket by 467% amid shipping chaos

December 4, 2025

(Oil Price) – The daily rates for chartering a vessel to transport commodities have surged this year, with oil tanker rates skyrocketing by 467%, as shippers of a growing commodity supply are grappling with a series of route disruptions and sanctions. Despite the typically weaker commodity demand period toward the end of each year, the last weeks of 2025 don’t show

U.S. sanctions force Serbia’s only refinery to shut down

December 2, 2025

(Oil Price)– The United States has denied a sanctions waiver to Serbian refinery Naftna Industrija Srbije (NIS), majority owned by Russian state energy firms and sanctioned by the United States, forcing Serbia’s only refinery to shut down, Serbian President Aleksandar Vu?i? said on Tuesday. “We expected to get a license from the US government for continued oil supplies to our refinery

Russia sees scope for oil exports boost to China, urges cooperation in LNG

November 25, 2025

(BOE Report)– Russia sees scope to boost oil exports to China and to deepen cooperation on supplies of liquefied natural gas, Deputy Prime Minister Alexander Novak said on Tuesday in Beijing. China and India have become the main buyers of Russian oil since the start of Russia’s military campaign in Ukraine in February 2022. China imports roughly 1.4 million barrels

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