Tag: Iran

Mike Wirth framed Chevron’s new $7 billion Venezuela commitment as a “win-win-win” during a Bloomberg Television interview from Caracas: better heavy crude for U.S. Gulf Coast refiners, stronger energy security, and fresh investment and jobs for Venezuela.

Clark Savage117

The September 2, 2026 sit-down with Tyler Kendall came the same day Chevron announced updated joint-venture agreements with PDVSA. The company will invest more than $7 billion over five years across three existing ventures, add acreage in the Orinoco Belt’s Carabobo area, and target more than 600,000 barrels per day of production—more than triple the […]

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Chinese refiners are paying record premiums for Russian ESPO crude as cheap sanctioned barrels from Iran dry up and Venezuelan oil moves onto the open market.

Clark Savage141

November-loading ESPO from Kozmino is trading at more than $7 per barrel over Brent, with some offers to independent refiners reaching $10, according to traders cited by Bloomberg and OilPrice.com. That is a sharp reversal from the deep discounts China extracted for years. ESPO loads on Russia’s Pacific coast and reaches Chinese ports in less […]

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Will NASAPEC Become The New OPEC?

Clark Savage61

ENB Pub Note: This is from Andrew Koryboko’s Substack, and I find it very interesting. Venezuela is more than just oil; it is about global corruption, and we will be covering that on future podcasts.   The US’ newly formalized control over the majority of Venezuela’s oil reserves and Caracas’ potential withdrawal from OPEC could see […]

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Oil Will Find a Way

Clark Savage127

In Jurassic Park, Dr. Ian Malcolm delivers one of cinema’s most memorable lines: “Life finds a way.” Nature adapts, persists, and routes around obstacles no matter how carefully the fences are built. In the summer of 2026, crude oil is doing the same thing. Blockades and attacks have choked the Strait of Hormuz and the […]

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Will Turkey be impacted by a potential gas squeeze as new Iran sanctions kick in?

Clark Savage99

Turkey faces heightened risk of disrupted natural gas supplies from Iran following the U.S. Treasury’s launch of an intensified economic isolation campaign against Tehran on August 24, 2026. As a key U.S. ally and Iran’s third-largest trading partner, Ankara must navigate secondary sanctions threats that could complicate or sever one of its major pipeline gas […]

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