Energy

Oil refiners worldwide are experiencing an unexpected boost in profits due to tighter fuel supplies and resilient demand, offering temporary relief to an industry grappling with long-term headwinds. Despite crude oil prices hitting a four-year low in May after OPEC+ accelerated output cuts, refining margins have surged as plant closures and unplanned outages constrain supply […]

Companies operating under US authorizations, including Chevron, Maurel & Prom, and Repsol, have completed their final Venezuelan oil shipments ahead of a May 27 deadline, as the Trump administration’s sanctions crackdown forces a halt to legal crude transactions—pushing PDVSA toward opaque Asian intermediaries to keep exports alive. Key Developments 🛢️ Last Legal Shipments: Why It Matters 💸 Venezuela’s Crunch: What’s Next?

Chevron has halted oil production and service contracts in Venezuela, transferring operational control to state-owned PDVSA, but will maintain its workforce and joint-venture stakes under a restrictive US license—marking a strategic retreat while preserving its foothold in the sanctioned country. Key Developments 🛑 Contract Termination: Why Chevron Stays (Partly) 📉 Asset Protection: Retains stakes in Petropiar, Petroboscan ventures (previously producing 290K bpd).👥 Staff Retention: Keeps direct employees but may […]

As crude prices tumble amid OPEC+’s aggressive production hikes, Saudi Arabia is turbocharging its refineries to lock in robust fuel profits—a strategic pivot that’s helping the kingdom cushion its budget from the oil market’s volatility. Refining at Record Levels 🛢️ Domestic Processing: Why It Matters 💰 Margin Savior: Market Realities 📉 Crude Glut: Trump’s tariffs and OPEC+ hikes threaten prolonged low prices.✈️ Summer Demand Boost: Peak […]

The Trump administration has granted Chevron a restrictive license to maintain its assets in Venezuela, including stakes in PDVSA joint ventures, but prohibited the company from operating oilfields, exporting crude, or expanding activities—a move designed to tighten financial pressure on President Nicolás Maduro’s government. Key Restrictions 🚫 No Production or Exports: Chevron cannot pump or sell Venezuelan oil.🚫 No New Deals: Contracts with PDVSA […]

While the Trump administration has fast-tracked permits and rolled back environmental rules to boost U.S. energy infrastructure, pipeline companies are opting for acquisitions over new construction, deterred by soaring costs, legal risks, and uncertain demand. Why Buy Instead of Build? 💰 Cost Challenges: M&A Boom in Midstream 📊 Deal Surge: 15 midstream transactions in Q1 2025—highest since 2021 (Enverus).🔁 JV Buybacks: Firms like Targa Resources and MPLX are repurchasing stakes in […]

Saudi Aramco, the world’s largest oil company, is considering selling assets to free up cash as it grapples with lower crude prices, a slashed dividend, and an ambitious global expansion strategy, according to four sources familiar with the matter. Why Aramco Needs Cash 💰 Dividend Cut: The state giant will reduce payouts by nearly 30% this year after oil prices hovered near 60/barrel∗∗—farbelowthe∗∗60/barrel∗∗—farbelowthe∗∗90+ needed to […]

BP has officially kicked off the sale of its 124-year-old Castrol lubricants division, a cornerstone of its portfolio, aiming to fetch 8–10billion∗∗aspartofabroader∗∗8–10billion∗∗aspartofabroader∗∗20 billion asset disposal plan to slash debt and placate disgruntled investors. Goldman Sachs is orchestrating the auction, with Saudi Aramco and private equity firms among likely bidders, according to sources familiar with the matter. Why BP Is Selling 💰 Debt Reduction: […]

U.S. crude traders are scrambling to secure storage tanks at levels not seen since the 2020 pandemic crash, bracing for an imminent OPEC+ supply deluge that could deepen the oil market’s slump—with Brent crude already languishing near $58.40/bbl, a four-year low. Why Storage Demand Is Exploding 🛢️ OPEC+ Floodgates: The cartel plans to add 2.2M bpd by November, retaliating against overproducers and U.S. shale […]

India is on track to import 1.8 million barrels per day (bpd) of Russian crude in May—the highest in 10 months—as its refiners aggressively stock up on ESPO Blend, a light sweet grade ideal for gasoline production. The buying spree comes just before new EU/UK sanctions target Moscow’s “shadow fleet” of tankers, locking in supplies while displacing Chinese demand and pushing ESPO […]