28 days ago
Prosecutors in New York are expected to bring new charges against former Venezuelan President Nicolás Maduro and his wife Cilia Flores over the alleged torture of Americans who were held in Venezuelan government custody in recent years, according to multiple people familiar with the investigation.
An announcement could come as soon as Thursday, the people said.
The new charges relate to what the US government has said was the wrongful detention of more than a dozen US citizens in Venezuelan prisons during the time Maduro led a repressive regime in Venezuela, the people briefed on the investigation said.
Investigators have also discussed charging several additional people for their alleged role in the torture of Americans, according to a source familiar with the matter.
CNN has reached out to lawyers for Maduro and Flores.
#americans #government
An announcement could come as soon as Thursday, the people said.
The new charges relate to what the US government has said was the wrongful detention of more than a dozen US citizens in Venezuelan prisons during the time Maduro led a repressive regime in Venezuela, the people briefed on the investigation said.
Investigators have also discussed charging several additional people for their alleged role in the torture of Americans, according to a source familiar with the matter.
CNN has reached out to lawyers for Maduro and Flores.
#americans #government
29 days ago
Ana de Armas and boyfriend Beto Montenegro were photographed leaving their Paris hotel together on Oct. 6th as the actress headed to Louis Vuitton's Spring-Summer 2027 show, according to Just Jared.
The 38-year-old actress wore a plunging black leather blazer and matching microshorts from the house's Resort 2027 collection. Tan straps threaded through silver rings lined the jacket's sides. She paired the outfit with black knee-high boots and a small brown handbag.
Montenegro, a Venezuelan musician, accompanied her in an olive jacket and brown trousers. He finished his look with sunglasses and bright pink sneakers.
De Armas is a Louis Vuitton house ambassador and appears in its Mythica high-jewelry campaign.
A separate photograph posted by Splash News on Oct. 7th showed the pair out after dark. The agency identified their destination as a Louis Vuitton afterparty.
#brown #Paris
The 38-year-old actress wore a plunging black leather blazer and matching microshorts from the house's Resort 2027 collection. Tan straps threaded through silver rings lined the jacket's sides. She paired the outfit with black knee-high boots and a small brown handbag.
Montenegro, a Venezuelan musician, accompanied her in an olive jacket and brown trousers. He finished his look with sunglasses and bright pink sneakers.
De Armas is a Louis Vuitton house ambassador and appears in its Mythica high-jewelry campaign.
A separate photograph posted by Splash News on Oct. 7th showed the pair out after dark. The agency identified their destination as a Louis Vuitton afterparty.
#brown #Paris
1 month ago
Updated on: October 5, 2026 / 7:29 PM EDT / CBS News
President Trump said Monday he will start paying for the pro-Trump ads that have blanketed the airwaves in recent weeks with money raised by his super PAC, after his administration drew intense pushback for using public funds on the ads.
"The Radical Left is upset with the fact that I am taking Ads, which I consider to be a positive promotion for our Great U.S.A., and paying for them with U.S.A. money," the president wrote on Truth Social. "This is a rather standard thing to do but, rather than doing that, although nothing will make them happy, I have decided to do the Patriotic Ads, among others, and pay for them myself, and with money I raised for MAGA, Inc."
Emblazoned with the message "Paid for by the U.S. Government," the ads began popping up late last month on national cable and broadcast networks, including CBS, as the November midterm elections approach.
Several variations have aired, including one that features a recording of Mr. Trump saying, "We will defeat communism, socialism and Marxism in America," as photos of the president flash across the screen. Another recounts the U.S. capture of former Venezuelan President Nicolás Maduro.
#paying
President Trump said Monday he will start paying for the pro-Trump ads that have blanketed the airwaves in recent weeks with money raised by his super PAC, after his administration drew intense pushback for using public funds on the ads.
"The Radical Left is upset with the fact that I am taking Ads, which I consider to be a positive promotion for our Great U.S.A., and paying for them with U.S.A. money," the president wrote on Truth Social. "This is a rather standard thing to do but, rather than doing that, although nothing will make them happy, I have decided to do the Patriotic Ads, among others, and pay for them myself, and with money I raised for MAGA, Inc."
Emblazoned with the message "Paid for by the U.S. Government," the ads began popping up late last month on national cable and broadcast networks, including CBS, as the November midterm elections approach.
Several variations have aired, including one that features a recording of Mr. Trump saying, "We will defeat communism, socialism and Marxism in America," as photos of the president flash across the screen. Another recounts the U.S. capture of former Venezuelan President Nicolás Maduro.
#paying
1 month ago
In December 2025, about a month before the U.S. invaded Venezuela and captured its president, Nicolás Maduro, President Trump had a secret meeting with Elon Musk, Time magazine reports. This was roughly seven months after Musk left his role in the Trump administration at the Department of Government Efficiency (DOGE).
During this meeting, Trump "spent hours" talking to Musk's Grok chatbot, including asking how Venezuelans would respond to the capture of their president, a source told Time. Just a few months earlier, in September, Trump began ordering U.S. military strikes against Venezuelan boats that Trump alleged were involved in drug trafficking.
People had apparently been turning to Grok asking about the boat strikes and political climate in Venezuela, as The Atlantic reported at the time. So Grok told Trump that Maduro was a "deeply unpopular dictator and that many Venezuelans would likely celebrate his downfall," Time reported.
When such celebrations indeed happened after the U.S. invaded on January 3, Trump apparently "came away thinking Grok was ingenious," that source told Time.
So perhaps it should come as no surprise that in June of this year, the Pentagon's head of AI said that the military used Grok Gov to deploy and strike targets during the Iran War.
#grok #told #musk
During this meeting, Trump "spent hours" talking to Musk's Grok chatbot, including asking how Venezuelans would respond to the capture of their president, a source told Time. Just a few months earlier, in September, Trump began ordering U.S. military strikes against Venezuelan boats that Trump alleged were involved in drug trafficking.
People had apparently been turning to Grok asking about the boat strikes and political climate in Venezuela, as The Atlantic reported at the time. So Grok told Trump that Maduro was a "deeply unpopular dictator and that many Venezuelans would likely celebrate his downfall," Time reported.
When such celebrations indeed happened after the U.S. invaded on January 3, Trump apparently "came away thinking Grok was ingenious," that source told Time.
So perhaps it should come as no surprise that in June of this year, the Pentagon's head of AI said that the military used Grok Gov to deploy and strike targets during the Iran War.
#grok #told #musk
2 months ago
A Wall Street Journal report on September 16 revealed that ExxonMobil Holdings Corporation (NYSE:XOM) is nearing a preliminary agreement with Venezuela's state-owned PDVSA, potentially marking its return to the country almost two decades after its ***** ets were nationalized. According to Reuters, Exxon has shown interest in the large Petromonagas heavy oil project in the Orinoco Belt, as well as in areas in the neighboring Carabobo block.
While the talks are still in their preliminary phase and could still fall apart or be delayed, they mark a major turnaround from Exxon's previous stance on Venezuela. The company's CEO, Darren Woods, stated in January that the country was "uninvestable" without durable investment protections, legal reforms, and changes to its hydrocarbon laws.
The development comes amid a broader push by the Trump administration to open Venezuela's oil industry to American companies and revive the country's dilapidated oil infrastructure. The South American nation is sitting on the largest proven crude oil reserves in the world, accounting for roughly 17% of the global total.
Venezuela could provide Exxon with access to an enormous resource base at a time when the company is actively seeking low-cost and long-duration ***** ets. The fields under consideration are estimated to contain more than 50 billion barrels of oil buried underground.
Exxon already holds an advantage through its previous experience in the country. Petromonagas, formerly called Cerro Negro, was once the energy firm's flagship project in Venezuela, giving it familiarity with the country's vast heavy and extra-heavy crude resources. Petromonagas also remains one of the few Venezuelan projects with an operational upgrader capable of turning the Orinoco's extra-heavy crude into lighter exportable grades.
#heavy #project
While the talks are still in their preliminary phase and could still fall apart or be delayed, they mark a major turnaround from Exxon's previous stance on Venezuela. The company's CEO, Darren Woods, stated in January that the country was "uninvestable" without durable investment protections, legal reforms, and changes to its hydrocarbon laws.
The development comes amid a broader push by the Trump administration to open Venezuela's oil industry to American companies and revive the country's dilapidated oil infrastructure. The South American nation is sitting on the largest proven crude oil reserves in the world, accounting for roughly 17% of the global total.
Venezuela could provide Exxon with access to an enormous resource base at a time when the company is actively seeking low-cost and long-duration ***** ets. The fields under consideration are estimated to contain more than 50 billion barrels of oil buried underground.
Exxon already holds an advantage through its previous experience in the country. Petromonagas, formerly called Cerro Negro, was once the energy firm's flagship project in Venezuela, giving it familiarity with the country's vast heavy and extra-heavy crude resources. Petromonagas also remains one of the few Venezuelan projects with an operational upgrader capable of turning the Orinoco's extra-heavy crude into lighter exportable grades.
#heavy #project
2 months ago
Chevron Corporation (NYSE:CVX) is about to significantly expand its operations in Venezuela. The company's CFO, Eimear Bonner, revealed at a Barclays conference on September 8 that the American oil giant plans to more than double the number of oil rigs it operates in the country as part of its five-year plan to increase output.
The statement follows the company's recent announcement that its joint venture partnerships in Venezuela would invest more than $7 billion to more than double oil output to 600,000 barrels per day by 2031. The current production from Chevron's three Venezuelan JVs totals around 290,000, which is all exported to the United States.
The move builds on Chevron's longstanding presence in Venezuela, as it was the only American oil major that continued operating in the country under a special US license, allowing it to produce and export oil despite the sanctions.
The expansion comes alongside a much larger agreement between Washington and Caracas announced this month, which gave the US majority control over around 20% of Venezuela's proven crude reserves. The White House has now invited American oil companies to revive and modernize the South American country's oil infrastructure and more than double its crude production in the next few years.
Chevron has maintained operations in Venezuela since 1923 and even stayed through the nationalizations that forced ExxonMobil and ConocoPhillips to exit in 2007. This gives it a significant competitive advantage, since it already has a longstanding relationship with the state-owned PDVSA and extensive experience operating in the country's complex regulatory environment.
#around
The statement follows the company's recent announcement that its joint venture partnerships in Venezuela would invest more than $7 billion to more than double oil output to 600,000 barrels per day by 2031. The current production from Chevron's three Venezuelan JVs totals around 290,000, which is all exported to the United States.
The move builds on Chevron's longstanding presence in Venezuela, as it was the only American oil major that continued operating in the country under a special US license, allowing it to produce and export oil despite the sanctions.
The expansion comes alongside a much larger agreement between Washington and Caracas announced this month, which gave the US majority control over around 20% of Venezuela's proven crude reserves. The White House has now invited American oil companies to revive and modernize the South American country's oil infrastructure and more than double its crude production in the next few years.
Chevron has maintained operations in Venezuela since 1923 and even stayed through the nationalizations that forced ExxonMobil and ConocoPhillips to exit in 2007. This gives it a significant competitive advantage, since it already has a longstanding relationship with the state-owned PDVSA and extensive experience operating in the country's complex regulatory environment.
#around
2 months ago
After signing what President Donald Trump touted as "the biggest oil deal in world history" to take majority control of 65 billion barrels of proven crude oil reserves in Venezuela, the U.S. Administration is setting its sights on the South American country's potentially vast gold and critical minerals wealth.
The Trump Administration is weighing measures to involve U.S. companies in Venezuela's gold and critical minerals and has held initial meetings with firms to see if there is interest in engaging in the Venezuelan mining sector, sources with knowledge of the plans told Reuters this week.
Securing gold and critical minerals from Venezuela could help the U.S. with its supply of metals crucial for defense technology and applications that don't depend on China. Moreover, greater access for U.S. and Western firms in Venezuela's minerals sector would further undermine Chinese and Russian influence in the country, which the ousted Venezuelan leader, Nicolas Maduro, deposed and arrested by the U.S. in January, had enjoyed.
"We are all watching the oil situation closely and recognize there could be a parallel track with critical minerals," an executive from a critical minerals firm who met with the U.S. Administration about Venezuela, told Reuters.
However, the path to mining Venezuela's minerals would not be as straightforward as it arguably is for the oil reserves. Operators generally know how much crude oil Venezuela has (the biggest reserves in the world), but no one really knows the reserves and mining potential of the gold and critical minerals deposits.
#venezuela
The Trump Administration is weighing measures to involve U.S. companies in Venezuela's gold and critical minerals and has held initial meetings with firms to see if there is interest in engaging in the Venezuelan mining sector, sources with knowledge of the plans told Reuters this week.
Securing gold and critical minerals from Venezuela could help the U.S. with its supply of metals crucial for defense technology and applications that don't depend on China. Moreover, greater access for U.S. and Western firms in Venezuela's minerals sector would further undermine Chinese and Russian influence in the country, which the ousted Venezuelan leader, Nicolas Maduro, deposed and arrested by the U.S. in January, had enjoyed.
"We are all watching the oil situation closely and recognize there could be a parallel track with critical minerals," an executive from a critical minerals firm who met with the U.S. Administration about Venezuela, told Reuters.
However, the path to mining Venezuela's minerals would not be as straightforward as it arguably is for the oil reserves. Operators generally know how much crude oil Venezuela has (the biggest reserves in the world), but no one really knows the reserves and mining potential of the gold and critical minerals deposits.
#venezuela
2 months ago
Chinese independent refiners may be about to start reducing their processing rates as international oil prices rise and supply from major exporters such as Venezuela and Iran dries up as a result of U.S. foreign policy decisions.
"Teapots are unlikely to be able to afford a full shift to mainstream grades," an Energy Aspects ***** yst said this week, as quoted by Bloomberg. The so-called teapots are more sensitive to adverse oil market changes due to their refining margins being slimmer than those of state-owned majors. These margins have already fallen to breakeven, from around $10 per barrel in early July, Jianan Sun also said.
China imported 37.93 million tons, or 8.93 million barrels per day of crude oil in August, up by 6.2% compared to July, and further recovering from the decade-low seen in June, official Chinese customs data showed on Tuesday. The August import level was still 23.4% lower compared to the same month last year, but it's a marked improvement from the June lows of just 7.1 million bpd.
China slashed its total crude oil imports to a decade low in June, culminating three months of very low import levels amid high prices and constrained supply from the Middle East. This affected refinery output, which in turn contributed to the global fuel squeeze that is now set to deepen and extend in time as fighting in the Middle East continues and intensifies, pushing oil prices higher and sapping some refiners' appetite for the commodity.
With Venezuelan and Iranian crude all but gone, Chinese refiners will probably lean more heavily on Russian crude in the coming weeks. However, Russian crude prices are also on the rise on the futures market, in tune with all the other blends that trade internationally, which will likely put a lid on demand.
#june #july #China #middle
"Teapots are unlikely to be able to afford a full shift to mainstream grades," an Energy Aspects ***** yst said this week, as quoted by Bloomberg. The so-called teapots are more sensitive to adverse oil market changes due to their refining margins being slimmer than those of state-owned majors. These margins have already fallen to breakeven, from around $10 per barrel in early July, Jianan Sun also said.
China imported 37.93 million tons, or 8.93 million barrels per day of crude oil in August, up by 6.2% compared to July, and further recovering from the decade-low seen in June, official Chinese customs data showed on Tuesday. The August import level was still 23.4% lower compared to the same month last year, but it's a marked improvement from the June lows of just 7.1 million bpd.
China slashed its total crude oil imports to a decade low in June, culminating three months of very low import levels amid high prices and constrained supply from the Middle East. This affected refinery output, which in turn contributed to the global fuel squeeze that is now set to deepen and extend in time as fighting in the Middle East continues and intensifies, pushing oil prices higher and sapping some refiners' appetite for the commodity.
With Venezuelan and Iranian crude all but gone, Chinese refiners will probably lean more heavily on Russian crude in the coming weeks. However, Russian crude prices are also on the rise on the futures market, in tune with all the other blends that trade internationally, which will likely put a lid on demand.
#june #july #China #middle
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2 months ago
(Bloomberg) -- Treasury Secretary Scott Bessent said oil prices will nosedive to as low as $40 a barrel once the Iran conflict is over, pulling down bond yields that have lately hit the highest levels in years.
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#Apple
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Apple to Kick Off Ternus Era With Its Biggest-Ever Slate of New Products
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#Apple
2 months ago
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Chevron is making a multibillion dollar bet on Venezuela's troubled oil industry.
The company announced on Sept. 2 that it plans to expand operations and, together with Venezuelan joint-venture partners, invest over $7 billion to double local oil production within five years (1).
Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one
JPMorgan sees gold hitting $5,000/oz by Q4 — and savvy investors are protecting their wealth with a tax-advantaged Gold IRA. Get your free guide from Priority Gold
#jeff
Chevron is making a multibillion dollar bet on Venezuela's troubled oil industry.
The company announced on Sept. 2 that it plans to expand operations and, together with Venezuelan joint-venture partners, invest over $7 billion to double local oil production within five years (1).
Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one
JPMorgan sees gold hitting $5,000/oz by Q4 — and savvy investors are protecting their wealth with a tax-advantaged Gold IRA. Get your free guide from Priority Gold
#jeff
2 months ago
Italy's Eni has signed a 25-year contract with Venezuela's state oil company PDVSA that makes the Italian energy major the exclusive operator of the giant Junín-5 heavy-oil field in the Orinoco Belt.
The agreement gives Eni responsibility for the technical, financial and commercial management of Junín-5, which contains an estimated 35 billion barrels of certified oil in place but currently produces just 12,000 barrels per day.
The deal marks a significant change from the previous Petrojunín joint-venture structure, under which PDVSA held 60% and Eni 40%. Venezuela's recently reformed hydrocarbons law allows foreign and domestic companies greater autonomy to operate fields, market production and receive proceeds from oil sales.
The signing took place during U.S. Energy Secretary Chris Wright's visit to Caracas and comes amid a broader revival of foreign investment in Venezuela's oil industry. Chevron separately announced plans to invest $7 billion over five years and more than double its Venezuelan production to 600,000 bpd by 2031.
Eni has major ambitions for Junín-5. The company originally envisioned developing the field to 240,000 bpd, although that target—initially planned for 2018—was never achieved. The Financial Times reported Wednesday that Eni plans to invest around $1.5 billion annually as it ramps up the project.
#billion #pdvsa #field
The agreement gives Eni responsibility for the technical, financial and commercial management of Junín-5, which contains an estimated 35 billion barrels of certified oil in place but currently produces just 12,000 barrels per day.
The deal marks a significant change from the previous Petrojunín joint-venture structure, under which PDVSA held 60% and Eni 40%. Venezuela's recently reformed hydrocarbons law allows foreign and domestic companies greater autonomy to operate fields, market production and receive proceeds from oil sales.
The signing took place during U.S. Energy Secretary Chris Wright's visit to Caracas and comes amid a broader revival of foreign investment in Venezuela's oil industry. Chevron separately announced plans to invest $7 billion over five years and more than double its Venezuelan production to 600,000 bpd by 2031.
Eni has major ambitions for Junín-5. The company originally envisioned developing the field to 240,000 bpd, although that target—initially planned for 2018—was never achieved. The Financial Times reported Wednesday that Eni plans to invest around $1.5 billion annually as it ramps up the project.
#billion #pdvsa #field
2 months ago
Chevron will invest more than $7 billion in Venezuela over the next five years and more than double its oil production in the country to about 600,000 barrels per day, Reuters reported Wednesday.
The investment follows new agreements with Venezuela that give Chevron improved fiscal, commercial and legal terms and additional acreage in the Orinoco Belt. Chevron said its three Venezuelan joint ventures will invest the money through 2031, with total production costs remaining below $20 per barrel.
Chevron currently produces about 290,000 bpd in Venezuela, all of which is exported to the United States, according to Reuters. Venezuela is producing about 1.1 million to 1.2 million bpd, down from more than 3 million bpd in the late 1990s.
The new acreage includes the Carabobo-1 and Carabobo-2-South-A areas in the Orinoco Belt, ******* igned to Petroindependencia, the joint venture in which Chevron holds a 49% interest. Chevron also increased its Petroindependencia stake to 49% in April and received rights to develop the Ayacucho 8 area next to its Petropiar venture. Its three Venezuelan joint ventures have increased production by 15% so far this year.
Wednesday's announcement puts a dollar figure and production target on the Chevron agreements that were nearing completion earlier this week. Those agreements were previously described only as being of "significant size," with Chevron seeking additional Orinoco Belt acreage.
#venezuela #joint #reuters
The investment follows new agreements with Venezuela that give Chevron improved fiscal, commercial and legal terms and additional acreage in the Orinoco Belt. Chevron said its three Venezuelan joint ventures will invest the money through 2031, with total production costs remaining below $20 per barrel.
Chevron currently produces about 290,000 bpd in Venezuela, all of which is exported to the United States, according to Reuters. Venezuela is producing about 1.1 million to 1.2 million bpd, down from more than 3 million bpd in the late 1990s.
The new acreage includes the Carabobo-1 and Carabobo-2-South-A areas in the Orinoco Belt, ******* igned to Petroindependencia, the joint venture in which Chevron holds a 49% interest. Chevron also increased its Petroindependencia stake to 49% in April and received rights to develop the Ayacucho 8 area next to its Petropiar venture. Its three Venezuelan joint ventures have increased production by 15% so far this year.
Wednesday's announcement puts a dollar figure and production target on the Chevron agreements that were nearing completion earlier this week. Those agreements were previously described only as being of "significant size," with Chevron seeking additional Orinoco Belt acreage.
#venezuela #joint #reuters
2 months ago
WASHINGTON, Sept 3 (Reuters) - U.S. Commerce Secretary Howard Lutnick apologized on Thursday for stating that no Americans had died in the Iran war, acknowledging that 18 service members have been killed and he was thinking about Venezuela when he made the mistaken statement.
"I misspoke. Eighteen members of our military have died, and to those families my heart breaks and I am so very sorry for their loss. I was thinking about the Venezuelan military operation where no service members died," Lutnick said in a post on X.
Lutnick made the comments during an interview with CNBC on Wednesday in which Venezuela did not come up.
"I think the way the president is playing Iran... There haven't been American deaths. It's really just an economic choke-out, which the administration is now executing more broadly, and I think it'll be very effective," Lutnick told CNBC.
Moments before Lutnick's apology, Trump defended the commerce secretary on Truth Social.
#lutnick #venezuela
"I misspoke. Eighteen members of our military have died, and to those families my heart breaks and I am so very sorry for their loss. I was thinking about the Venezuelan military operation where no service members died," Lutnick said in a post on X.
Lutnick made the comments during an interview with CNBC on Wednesday in which Venezuela did not come up.
"I think the way the president is playing Iran... There haven't been American deaths. It's really just an economic choke-out, which the administration is now executing more broadly, and I think it'll be very effective," Lutnick told CNBC.
Moments before Lutnick's apology, Trump defended the commerce secretary on Truth Social.
#lutnick #venezuela
2 months ago
NEW YORK (AP) — Former Venezuelan President Nicolás Maduro and his wife asked a judge on Wednesday to dismiss the drug trafficking indictment against them on the grounds that they have immunity as the leader and first lady of a foreign country.
In papers filed in Manhattan federal court, lawyers for Maduro said a judge was required by law to reject the indictment because it cannot be brought against a foreign leader.
"No American court has ever presided over the criminal trial of a foreign leader who was recognized by their own country as the sitting head of state at the time the charges were brought," the lawyers wrote. "That is not an accident of history. It reflects a rule older than the common law: heads of state are exempt from the criminal process of any national court but their own."
Maduro and his wife are scheduled to go on trial on drug trafficking charges next June 1. Judge Alvin K. ******* erstein has set oral arguments for Nov. 17 on motions to dismiss the indictment.
Maduro, 63, and his wife, Cilia Flores, 69, have been held at a Brooklyn jail since U.S. forces seized them from their Caracas home in a middle-of-the-night raid in early January and brought them to New York.
#wife #foreign
In papers filed in Manhattan federal court, lawyers for Maduro said a judge was required by law to reject the indictment because it cannot be brought against a foreign leader.
"No American court has ever presided over the criminal trial of a foreign leader who was recognized by their own country as the sitting head of state at the time the charges were brought," the lawyers wrote. "That is not an accident of history. It reflects a rule older than the common law: heads of state are exempt from the criminal process of any national court but their own."
Maduro and his wife are scheduled to go on trial on drug trafficking charges next June 1. Judge Alvin K. ******* erstein has set oral arguments for Nov. 17 on motions to dismiss the indictment.
Maduro, 63, and his wife, Cilia Flores, 69, have been held at a Brooklyn jail since U.S. forces seized them from their Caracas home in a middle-of-the-night raid in early January and brought them to New York.
#wife #foreign
2 months ago
Chevron Corporation (NYSE:CVX), GE Vernova Inc. (NYSE:GEV), India's ONGC, Italy's Eni and Colombia's GeoPark are reportedly close to signing final agreements for energy projects in Venezuela after months of negotiations. Most of the agreements would move existing oil contracts under Venezuela's amended hydrocarbons law, which gives foreign companies more flexibility to operate and expand fields, export crude and receive cash proceeds from sales. Some agreements would also cover new electricity and energy projects.
For Chevron Corporation (NYSE:CVX), the opportunity could be particularly significant. The company is seeking to add a block in Venezuela's Orinoco Belt, which could allow it to expand an existing joint venture with state-owned PDVSA. It is also pursuing an area in Monagas North that could provide diluents needed for its extra-heavy oil production. The Wall Street Journal previously reported that Chevron was close to securing rights to two additional heavy-oil fields.
The agreements would represent another step toward reopening Venezuela's energy sector to foreign investment, but the final list of companies and terms had not yet been finalized at the time of the Reuters report.
The biggest positive is greater access to Venezuela's enormous oil resources. The amended hydrocarbons framework could give foreign companies more control over their operations and improve their ability to monetize production. For Chevron Corporation (NYSE:CVX), additional acreage in the Orinoco Belt could provide a meaningful avenue to increase long-term Venezuelan production.
Chevron also has an advantage over companies entering Venezuela for the first time because it already operates joint ventures in the country. That existing infrastructure, relationships, and operational experience could allow it to capture opportunities more efficiently as the sector reopens. The Wall Street Journal has noted that Chevron is currently the only major U.S. oil company operating in Venezuela.
#agreements #Companies #energy
For Chevron Corporation (NYSE:CVX), the opportunity could be particularly significant. The company is seeking to add a block in Venezuela's Orinoco Belt, which could allow it to expand an existing joint venture with state-owned PDVSA. It is also pursuing an area in Monagas North that could provide diluents needed for its extra-heavy oil production. The Wall Street Journal previously reported that Chevron was close to securing rights to two additional heavy-oil fields.
The agreements would represent another step toward reopening Venezuela's energy sector to foreign investment, but the final list of companies and terms had not yet been finalized at the time of the Reuters report.
The biggest positive is greater access to Venezuela's enormous oil resources. The amended hydrocarbons framework could give foreign companies more control over their operations and improve their ability to monetize production. For Chevron Corporation (NYSE:CVX), additional acreage in the Orinoco Belt could provide a meaningful avenue to increase long-term Venezuelan production.
Chevron also has an advantage over companies entering Venezuela for the first time because it already operates joint ventures in the country. That existing infrastructure, relationships, and operational experience could allow it to capture opportunities more efficiently as the sector reopens. The Wall Street Journal has noted that Chevron is currently the only major U.S. oil company operating in Venezuela.
#agreements #Companies #energy
2 months ago
Venezuela has the largest proven oil reserves in the world, and its heavy crude is particularly well suited to the sophisticated refineries lining the U.S. Gulf Coast. More Venezuelan oil should help U.S. refiners, but that doesn't translate directly into lower prices at the pump.
Trump announced Friday that the U.S. had secured majority control over Venezuelan fields containing more than 65 billion barrels of oil, saying the agreement would greatly increase U.S. supply and substantially lower gasoline prices "long into the future." On Sunday, he added another destination for Venezuelan crude, saying Washington would soon start using it to refill the Strategic Petroleum Reserve.
The deal gives the U.S. access to an enormous oil resource, but the effect on gasoline prices will depend on how much additional Venezuelan crude can actually be produced and where those barrels go.
Venezuela is currently producing roughly 1.25 million bpd, while the new projects are targeting production above 1.5 million bpd. Getting substantially beyond that will require more drilling, extensive workovers, improved infrastructure, reliableF access to diluents and significantly more drilling rigs, according to Rystad.
Venezuelan crude's role in American refining is already substantial. U.S. imports from Venezuela averaged 637,000 bpd over the four weeks through Aug. 21, according to the EIA, reaching 662,000 bpd in the latest week. Venezuela was the second-largest U.S. crude supplier behind Canada during that period. Those barrels have become more useful as the U.S.-Iran war has disrupted crude and heavy fuel oil flows from the Middle East.
#venezuelan
Trump announced Friday that the U.S. had secured majority control over Venezuelan fields containing more than 65 billion barrels of oil, saying the agreement would greatly increase U.S. supply and substantially lower gasoline prices "long into the future." On Sunday, he added another destination for Venezuelan crude, saying Washington would soon start using it to refill the Strategic Petroleum Reserve.
The deal gives the U.S. access to an enormous oil resource, but the effect on gasoline prices will depend on how much additional Venezuelan crude can actually be produced and where those barrels go.
Venezuela is currently producing roughly 1.25 million bpd, while the new projects are targeting production above 1.5 million bpd. Getting substantially beyond that will require more drilling, extensive workovers, improved infrastructure, reliableF access to diluents and significantly more drilling rigs, according to Rystad.
Venezuelan crude's role in American refining is already substantial. U.S. imports from Venezuela averaged 637,000 bpd over the four weeks through Aug. 21, according to the EIA, reaching 662,000 bpd in the latest week. Venezuela was the second-largest U.S. crude supplier behind Canada during that period. Those barrels have become more useful as the U.S.-Iran war has disrupted crude and heavy fuel oil flows from the Middle East.
#venezuelan
2 months ago
Sullivan named CVX and XOM among prospective participants in a 25-year Venezuelan lease deal, but warned real production is years away.
Venezuela's output collapsed from 3.2 to 1.2 million barrels per day since 1997, leaving 65 billion barrels stranded without capital or expertise.
Act now: the **** yst who called NVIDIA in 2010 just named his top 10 AI stocks — and Exxon Mobil didn't make the cut. Grab the names FREE today.
CNBC's Brian Sullivan walked viewers through the announced U.S.-Venezuela oil arrangement Monday, delivering a simple message for investors: the headline reserve number is enormous, and the timeline to real production might not be as long as some would expect.
"Venezuela, 65 billion barrels proven reserves on the part of this deal. Venezuela obviously has more. The U.S. under this would control 55% of that," Sullivan said, framing a reported 25-year lease structure valued at $100 billion-plus in investment by U.S. energy companies.
#billion #lease
Venezuela's output collapsed from 3.2 to 1.2 million barrels per day since 1997, leaving 65 billion barrels stranded without capital or expertise.
Act now: the **** yst who called NVIDIA in 2010 just named his top 10 AI stocks — and Exxon Mobil didn't make the cut. Grab the names FREE today.
CNBC's Brian Sullivan walked viewers through the announced U.S.-Venezuela oil arrangement Monday, delivering a simple message for investors: the headline reserve number is enormous, and the timeline to real production might not be as long as some would expect.
"Venezuela, 65 billion barrels proven reserves on the part of this deal. Venezuela obviously has more. The U.S. under this would control 55% of that," Sullivan said, framing a reported 25-year lease structure valued at $100 billion-plus in investment by U.S. energy companies.
#billion #lease
2 months ago
Trump's Venezuela deal grants U.S. companies majority control of 65 billion barrels, pushing total U.S.-accessible proven reserves to 7.1% of global supply.
Venezuela's extra-heavy crude demands specialized refining and major infrastructure repairs, meaning production gains will take years rather than months to reach consumers.
Chevron's existing Venezuelan joint ventures and strong free cash flow position it as the clearest near-term beneficiary of the new hydrocarbons framework.
Act now: the ******* yst who called NVIDIA in 2010 just named his top 10 AI stocks — and Chevron didn't make the cut. Grab the names FREE today.
Oil markets have spent 2026 wrestling with supply disruptions, Strategic Petroleum Reserve drawdowns to multi-decade lows, and stubborn pump prices that refuse to cooperate with political calendars.
#NVIDIA #chevron #strategic #petroleum
Venezuela's extra-heavy crude demands specialized refining and major infrastructure repairs, meaning production gains will take years rather than months to reach consumers.
Chevron's existing Venezuelan joint ventures and strong free cash flow position it as the clearest near-term beneficiary of the new hydrocarbons framework.
Act now: the ******* yst who called NVIDIA in 2010 just named his top 10 AI stocks — and Chevron didn't make the cut. Grab the names FREE today.
Oil markets have spent 2026 wrestling with supply disruptions, Strategic Petroleum Reserve drawdowns to multi-decade lows, and stubborn pump prices that refuse to cooperate with political calendars.
#NVIDIA #chevron #strategic #petroleum
2 months ago
India's state-owned Oil and Natural Gas Corporation (ONGC) plans to invest about $200 million to revive production at the San Cristobal oilfield in Venezuela, which it shares with Venezuelan state oil firm PDVSA, Indian outlet Economic Times reported on Wednesday, citing sources with knowledge of the development.
ONGC's overseas unit ONGC Videsh Ltd (OVL) holds stakes in some Venezuelan oil projects, including a 40% interest in the San Cristobal oilfield, in which PDVSA owns the remaining 60%.
Earlier this month, ONGC secured a license from the U.S. Office of Foreign ******* ets Control (OFAC) to return to Venezuela.
India's largest oil and gas company has a 40% stake in the San Cristobal oil project and an 11% stake in the Carabobo project but has been forced to curb activity significantly amid a barrage of U.S. sanctions on the South American country in recent years.
Now that the license has been secured, ONGC plans to develop the oilfield. The $200-million budget for reviving production at San Cristobal in the Orinoco Belt would be given the green light once the Indian firm and PDVSA sign an agreement on an investment plan.
#venezuela #Indian #state
ONGC's overseas unit ONGC Videsh Ltd (OVL) holds stakes in some Venezuelan oil projects, including a 40% interest in the San Cristobal oilfield, in which PDVSA owns the remaining 60%.
Earlier this month, ONGC secured a license from the U.S. Office of Foreign ******* ets Control (OFAC) to return to Venezuela.
India's largest oil and gas company has a 40% stake in the San Cristobal oil project and an 11% stake in the Carabobo project but has been forced to curb activity significantly amid a barrage of U.S. sanctions on the South American country in recent years.
Now that the license has been secured, ONGC plans to develop the oilfield. The $200-million budget for reviving production at San Cristobal in the Orinoco Belt would be given the green light once the Indian firm and PDVSA sign an agreement on an investment plan.
#venezuela #Indian #state
2 months ago
BOGOTA, Colombia (AP) — Colombian President Abelardo de la Espriella has promised to deport thousands of migrants who are in the country without residence permits, mainly Venezuelans, as he attempts to make significant changes to the nation's immigration policies that he says will reduce crime.
De la Espriella, who was sworn into office three weeks ago, said that he would order the country's national immigration service to conduct raids with Colombian police as early as this week. He announced the new policy in a video released on Sunday night in his X account where he spoke of multiple measures to reduce crime and confront criminal groups.
The ultra conservative leader, who is closely aligned with the U.S. President Donald Trump, said that law enforcement will first target migrants who are "committing crimes" and then, those who are living in the country without regular status.
"I will not accept any illegal immigrants, wherever they come from," de la Espriella said in the video. "They will have to leave and be deported. It is a political decision I am taking responsibility for."
Most migrants living in Colombia come from neighboring Venezuela, a nation that lost about a fifth of its population over the past decade as Venezuelans fled a repressive regime that oversaw years of economic turmoil, and a 75% contraction in the nation's GDP.
#without
De la Espriella, who was sworn into office three weeks ago, said that he would order the country's national immigration service to conduct raids with Colombian police as early as this week. He announced the new policy in a video released on Sunday night in his X account where he spoke of multiple measures to reduce crime and confront criminal groups.
The ultra conservative leader, who is closely aligned with the U.S. President Donald Trump, said that law enforcement will first target migrants who are "committing crimes" and then, those who are living in the country without regular status.
"I will not accept any illegal immigrants, wherever they come from," de la Espriella said in the video. "They will have to leave and be deported. It is a political decision I am taking responsibility for."
Most migrants living in Colombia come from neighboring Venezuela, a nation that lost about a fifth of its population over the past decade as Venezuelans fled a repressive regime that oversaw years of economic turmoil, and a 75% contraction in the nation's GDP.
#without
3 months ago
A Bloomberg report on August 18 revealed that BP plc (NYSE:BP) has become the latest foreign company to enter the Venezuelan oil trade, with the tanker Monte Lema loading 400,000 barrels of heavy fuel oil for the British energy giant. The oil is being supplied by the state-owned PDVSA. The strategic move places BP among a select group of companies, including trading giants Trafigura and Vitol, with direct access to Venezuelan oil.
The development comes a few days after it was announced that the London-based company would partner with two other firms to develop the second phase of the Loran gasfield, in one of the first large-scale foreign investments in the South American country since the ouster of Nicolás Maduro earlier this year. That said, while the consortium has secured the official exploration and production license, the project remains in the pre-FID phase.
The developments come after President Trump called for global oil companies to invest in Venezuela and help restore and modernize its dilapidated oil infrastructure. The South American nation is sitting on the largest proven crude oil reserves in the world, accounting for roughly 17% of the global total. However, the oil-rich country's government nationalized major heavy oil projects in 2007, forcing foreign operators into minority stakes or outright seizing their **** ets.
As a relatively early mover, BP plc (NYSE:BP) stands to gain a lot from a gradual revival of Venezuelan oil output. The company appears to be positioning itself across multiple areas of Venezuela's energy value chain – from exploration to production, to trading and international marketing. It means that the energy giant could benefit from the country in many ways as it reconnects with global energy markets.
Moreover, BP's entry into the Venezuelan oil trade could give it an opportunity to capture trading margins in addition to upstream earnings. This could be particularly beneficial for the company as it could potentially leverage its already existing refining, marketing, shipping, and trading infrastructure in the region. Although Trafigura and Vitol have an early foothold in Venezuela's oil trading business, BP's large integrated energy business gives it a significant competitive edge.
#energy #company #vitol
The development comes a few days after it was announced that the London-based company would partner with two other firms to develop the second phase of the Loran gasfield, in one of the first large-scale foreign investments in the South American country since the ouster of Nicolás Maduro earlier this year. That said, while the consortium has secured the official exploration and production license, the project remains in the pre-FID phase.
The developments come after President Trump called for global oil companies to invest in Venezuela and help restore and modernize its dilapidated oil infrastructure. The South American nation is sitting on the largest proven crude oil reserves in the world, accounting for roughly 17% of the global total. However, the oil-rich country's government nationalized major heavy oil projects in 2007, forcing foreign operators into minority stakes or outright seizing their **** ets.
As a relatively early mover, BP plc (NYSE:BP) stands to gain a lot from a gradual revival of Venezuelan oil output. The company appears to be positioning itself across multiple areas of Venezuela's energy value chain – from exploration to production, to trading and international marketing. It means that the energy giant could benefit from the country in many ways as it reconnects with global energy markets.
Moreover, BP's entry into the Venezuelan oil trade could give it an opportunity to capture trading margins in addition to upstream earnings. This could be particularly beneficial for the company as it could potentially leverage its already existing refining, marketing, shipping, and trading infrastructure in the region. Although Trafigura and Vitol have an early foothold in Venezuela's oil trading business, BP's large integrated energy business gives it a significant competitive edge.
#energy #company #vitol
3 months ago
Venezuela's new petroleum minister sees her South American home not as a dilapidated former oil giant, but as an emerging energy economy ripe for U.S. and foreign investments in new oil and gas exploration, both onshore and offshore.
Paula Henao, who took over as the hydrocarbons minister in March after the forced U.S. removal of former leader Nicolás Maduro, told an overflowing Houston energy audience on Wednesday that Venezuela is much more than just its famed heavy-grade crude oil. There are more than 916 exploration opportunities awaiting foreign investment, she said, including natural gas and other untapped oil basins. She cited an estimated 192 trillion cubic feet of natural gas reserves, as well as the country's world-leading proven oil reserves of more than 300 billion barrels.
"It's an entire world waiting to be discovered, just waiting for us to reach these agreements so we can develop these new areas," Henao said in Spanish to the crowd at the posh Post Oak Hotel in Houston.
Henao and leaders of the Venezuelan state oil company, PDVSA, were in Houston this week for meetings and a showcase event in advance of a bigger Venezuela Energy Week in February in Caracas.
"Go to Venezuela to invest, go to Venezuela to develop businesses there," said PDVSA Vice President Jovanny Martinez, also speaking in Spanish. "We are at the right place at this historical moment. We have the energy that the world requires."
#venezuela #henao
Paula Henao, who took over as the hydrocarbons minister in March after the forced U.S. removal of former leader Nicolás Maduro, told an overflowing Houston energy audience on Wednesday that Venezuela is much more than just its famed heavy-grade crude oil. There are more than 916 exploration opportunities awaiting foreign investment, she said, including natural gas and other untapped oil basins. She cited an estimated 192 trillion cubic feet of natural gas reserves, as well as the country's world-leading proven oil reserves of more than 300 billion barrels.
"It's an entire world waiting to be discovered, just waiting for us to reach these agreements so we can develop these new areas," Henao said in Spanish to the crowd at the posh Post Oak Hotel in Houston.
Henao and leaders of the Venezuelan state oil company, PDVSA, were in Houston this week for meetings and a showcase event in advance of a bigger Venezuela Energy Week in February in Caracas.
"Go to Venezuela to invest, go to Venezuela to develop businesses there," said PDVSA Vice President Jovanny Martinez, also speaking in Spanish. "We are at the right place at this historical moment. We have the energy that the world requires."
#venezuela #henao
3 months ago
Following the Washington-led removal of Venezuela's previous president, Nicolás Maduro, from office on 3 January this year, U.S. firms are pushing hard to keep increasing oil production from the hydrocarbons giant, in line with President Donald Trump's grand plans for the country within his new world order. The foundation for such output increases is extremely solid, as Venezuela still holds the world's largest proven crude reserves -- roughly 303 billion barrels, or about 17% of the global total. Most of this is extra-heavy crude oil from the Orinoco Belt that requires more technical expertise to handle than lighter grades but is cheaper to lift and often more profitable to process, with the challenge lying in transporting, upgrading, and refining it, not extracting it. Moreover, of its 14 supergiant oil fields, 11 retain more than half of their original reserves. Once up and running to something approaching full capacity, the country is to play a key role in the 'Americas' geographical sphere -- one of three such regions, as delineated recently in the U.S.'s '2025 National Security Strategy' -- so where are we now in this development arc following comments in the past week or so from U.S. oil and gas giant, Chevron?
According to chief financial officer Eimear Bonner, during a recent earnings call, the U.S. supermajor has increased its oil production in Venezuela from 40,000 barrels per day (bpd) to 250,000 bpd over the past few years. And, based solely on its three current joint ventures in the country, output has risen over just the past six months by 12% year on year to 280,000 bpd. This followed the mid-April announcement of an **** et-swap agreement with Petróleos de Venezuela, S.A. (PDVSA), under which Chevron received an additional 13.21% interest in the Petroindependencia joint venture, increasing its total stake to 49%. The U.S. firm's other two joint ventures include Petropiar (in which a Chevron subsidiary holds a 30% interest and has the rights to develop the adjacent Ayacucho 8 area in the Orinoco Oil Belt), and Petroindependiente (in which it has a 25.2% non-operated interest in the west of the country). Looking ahead, Bonner added that Chevron expects its production across Venezuela to rise by 50% between now and the end of 2028, which would bring the total up to 420,000 bpd. Across the country as a whole, July saw average crude oil production by Venezuelan state oil company PDVSA and its foreign partners increase by 20,000 bpd to 1.21 million bpd, according to Ministry of Hydrocarbons data. Nearly all of this is now exported, compared to an average of 847,000 bpd in 2025. That said, back in the early 2000s, Venezuela's crude production was running at over 3 million barrels per day.
#crude #past #joint
According to chief financial officer Eimear Bonner, during a recent earnings call, the U.S. supermajor has increased its oil production in Venezuela from 40,000 barrels per day (bpd) to 250,000 bpd over the past few years. And, based solely on its three current joint ventures in the country, output has risen over just the past six months by 12% year on year to 280,000 bpd. This followed the mid-April announcement of an **** et-swap agreement with Petróleos de Venezuela, S.A. (PDVSA), under which Chevron received an additional 13.21% interest in the Petroindependencia joint venture, increasing its total stake to 49%. The U.S. firm's other two joint ventures include Petropiar (in which a Chevron subsidiary holds a 30% interest and has the rights to develop the adjacent Ayacucho 8 area in the Orinoco Oil Belt), and Petroindependiente (in which it has a 25.2% non-operated interest in the west of the country). Looking ahead, Bonner added that Chevron expects its production across Venezuela to rise by 50% between now and the end of 2028, which would bring the total up to 420,000 bpd. Across the country as a whole, July saw average crude oil production by Venezuelan state oil company PDVSA and its foreign partners increase by 20,000 bpd to 1.21 million bpd, according to Ministry of Hydrocarbons data. Nearly all of this is now exported, compared to an average of 847,000 bpd in 2025. That said, back in the early 2000s, Venezuela's crude production was running at over 3 million barrels per day.
#crude #past #joint
3 months ago
By Laura Gottesdiener, Ayose Naranjo and Stefanie Eschenbacher
HAVANA, Aug 11 (Reuters) - Gasoline at $38 a gallon sold from cramped apartments. Diesel hawked on Instagram by a celebrity model to a reggaeton soundtrack. Six decades after Fidel Castro's revolution, all of a sudden, capitalist cracks are appearing in Cuba's communist energy sector.
Under Washington's crippling oil embargo against Cuba, an exception that allows U.S. firms to export fuel to private Cuban businesses has kickstarted a chaotic black market and pried the lid off an energy sector tightly controlled by the state ever since Dwight Eisenhower was in the White House.
Oil shipments from Cuba's traditional suppliers Venezuela and Mexico ended abruptly after the U.S. ousted Venezuelan President Nicolas Maduro in January. U.S. Coast Guard cutters patrol the waters off Cuba, while sanctions and threats have dissuaded tankers from even setting sail.
The embargo has hobbled essential state-run services like the healthcare system, public transport and schools. But under the Commerce Department exception, a trickle of gasoline and diesel is reaching private restaurants, retailers and taxis, the first significant landings of U.S. fuel on the Caribbean island since Castro nationalized refineries after the 1959 revolution.
#cuba #gasoline #energy
HAVANA, Aug 11 (Reuters) - Gasoline at $38 a gallon sold from cramped apartments. Diesel hawked on Instagram by a celebrity model to a reggaeton soundtrack. Six decades after Fidel Castro's revolution, all of a sudden, capitalist cracks are appearing in Cuba's communist energy sector.
Under Washington's crippling oil embargo against Cuba, an exception that allows U.S. firms to export fuel to private Cuban businesses has kickstarted a chaotic black market and pried the lid off an energy sector tightly controlled by the state ever since Dwight Eisenhower was in the White House.
Oil shipments from Cuba's traditional suppliers Venezuela and Mexico ended abruptly after the U.S. ousted Venezuelan President Nicolas Maduro in January. U.S. Coast Guard cutters patrol the waters off Cuba, while sanctions and threats have dissuaded tankers from even setting sail.
The embargo has hobbled essential state-run services like the healthcare system, public transport and schools. But under the Commerce Department exception, a trickle of gasoline and diesel is reaching private restaurants, retailers and taxis, the first significant landings of U.S. fuel on the Caribbean island since Castro nationalized refineries after the 1959 revolution.
#cuba #gasoline #energy
3 months ago
Venezuelan Olympic weightlifting silver medalist Julio Mayora hoisted 151 kilograms (330 pounds) to win two gold medals this weekend at the 2026 Central American and Caribbean Games in Santo Domingo.
Not so long ago, he was using his superhuman strength to lift up concrete blocks to rescue victims from the double earthquakes that devastated his home country.
Mayora hails from La Guaira, the northern coastal Venezuelan state that was hit hardest by the June 24 double earthquakes, with respective magnitudes of 7.2 and 7.5 on the Richter scale.
The powerful earthquakes killed over 6,000 people and reduced dozens of buildings to rubble -- including people and places known to Mayora.
He dedicated his two gold medals to the victims of the earthquakes.
#venezuelan #medals #victims #olympic
Not so long ago, he was using his superhuman strength to lift up concrete blocks to rescue victims from the double earthquakes that devastated his home country.
Mayora hails from La Guaira, the northern coastal Venezuelan state that was hit hardest by the June 24 double earthquakes, with respective magnitudes of 7.2 and 7.5 on the Richter scale.
The powerful earthquakes killed over 6,000 people and reduced dozens of buildings to rubble -- including people and places known to Mayora.
He dedicated his two gold medals to the victims of the earthquakes.
#venezuelan #medals #victims #olympic
3 months ago
President Donald Trump has always loved the idea of taking other countries' oil by force. And he claims to have accomplished that goal in Venezuela. The war there "lasted 48 minutes, and we paid for the war with what we've taken out many, many, many times. Where have you heard that before? You haven't heard that before. That's the old fashioned way, right? The old-fashioned way. To the victor belong the spoils," Trump told a crowd in Las Vegas on Wednesday.
That's not how other officials advertised U.S. oversight of Venezuelan oil. "We're the bankers, we don't direct the funds," Secretary of the Treasury Scott Bessent told the Economic Club of Minnesota in January. "This is the oil of the people of Venezuela," Secretary of State Marco Rubio testified to Congress a few weeks later, claiming that the U.S. government was making sure that "the needs of the Venezuelan people can be met" through oil sales.
In a way, they're both right. Shortly after the U.S. military operation in Venezuela on January 3, 2026, the two countries cut a deal to put sanctioned Venezuelan oil revenues under the control of the U.S. Treasury. The money still belongs to Venezuela on paper, but it's controlled by U.S. officials for all practical purposes—and trying to get any transparency on where it's going has been like pulling teeth.
The oil deal demonstrates the raw, unaccountable, and global power that economic sanctions give to the U.S. Treasury. Neither the American nor the Venezuelan people have a clear picture of what's going on. The case of Venezuela also shows how, despite invoking Ronald Reagan's anticommunism, the Trump administration is much more concerned with imposing direct economic control than nurturing free markets. After all, the Venezuelan oil deal is a U.S. partnership with a socialist dictatorship.
Over the past two decades, the U.S. Treasury had imposed sanctions on the Venezuelan oil and banking sectors, preventing Venezuela's state-owned oil company from exporting to North America and its socialist government from dealing in U.S. dollars. After the January 2026 operation, the Venezuelan leadership cut a deal. The Trump administration issued sanctions exemptions and even shielded Venezuelan money from U.S. lawsuits. In exchange, Venezuela began putting its oil revenues into bank accounts in the "custody" of the U.S. Treasury.
#january
That's not how other officials advertised U.S. oversight of Venezuelan oil. "We're the bankers, we don't direct the funds," Secretary of the Treasury Scott Bessent told the Economic Club of Minnesota in January. "This is the oil of the people of Venezuela," Secretary of State Marco Rubio testified to Congress a few weeks later, claiming that the U.S. government was making sure that "the needs of the Venezuelan people can be met" through oil sales.
In a way, they're both right. Shortly after the U.S. military operation in Venezuela on January 3, 2026, the two countries cut a deal to put sanctioned Venezuelan oil revenues under the control of the U.S. Treasury. The money still belongs to Venezuela on paper, but it's controlled by U.S. officials for all practical purposes—and trying to get any transparency on where it's going has been like pulling teeth.
The oil deal demonstrates the raw, unaccountable, and global power that economic sanctions give to the U.S. Treasury. Neither the American nor the Venezuelan people have a clear picture of what's going on. The case of Venezuela also shows how, despite invoking Ronald Reagan's anticommunism, the Trump administration is much more concerned with imposing direct economic control than nurturing free markets. After all, the Venezuelan oil deal is a U.S. partnership with a socialist dictatorship.
Over the past two decades, the U.S. Treasury had imposed sanctions on the Venezuelan oil and banking sectors, preventing Venezuela's state-owned oil company from exporting to North America and its socialist government from dealing in U.S. dollars. After the January 2026 operation, the Venezuelan leadership cut a deal. The Trump administration issued sanctions exemptions and even shielded Venezuelan money from U.S. lawsuits. In exchange, Venezuela began putting its oil revenues into bank accounts in the "custody" of the U.S. Treasury.
#january
3 months ago
The market's top rental bat is reportedly off the board. Contact wizard Luis Arraez is heading from San Francisco to Philadelphia, according to ESPN's Jeff Passan. The 29-year-old Venezuelan has been one of the game's most unique position players for a while now. He strikes out and whiffs less often than anyone, but also barrels the ball up less than anyone. Call him a throwback, call him an old soul, call him overrated, but Arraez is a phenomenal change of pace for a Phillies lineup that strikes out far too often.
Since the beginning of time, it seems, the Phillies and their president of baseball operations Dave Dombrowski have been searching for a right-handed outfielder come deadline time. Arraez, a lefty infielder, is neither of those things, but he's good enough with the stick that the defensive fit is a secondary concern.
But it's still an area Dombrowski and skipper Don Mattingly need to get sorted. For the past few seasons, Philly has had a static infield alignment of Bryce Harper at first, Bryson Stott at second, Trea Turner at short and Alec Bohm at third. Kyle Schwarber's presence keeps the DH spot clogged up with home runs. Arraez has been adamant about staying at second base ahead of another trip to free agency this winter. So how does he slot in? There are a bevy of options.
Harper, as recently as last week, expressed a willingness to move back to the outfield, where he spent the early years of his career. That would push Bohm to first, Stott to third and give Arraez the everyday second base job. Bohm could also move to the bench, or get dealt elsewhere before Monday's 6 p.m. ET deadline. Another path, as reported by The Athletic's Matt Gelb, would be trying the fleet-footed Stott in the outfield.
It wasn't that long ago — literally last winter — that Arraez was considered a below-average first baseman. But he signed with the Giants, in part, to prove that he could still handle the keystone, which he has. Still, it's worth noting he's graded out closer to average over the past few months following an elite defensive April.
#bohm #call
Since the beginning of time, it seems, the Phillies and their president of baseball operations Dave Dombrowski have been searching for a right-handed outfielder come deadline time. Arraez, a lefty infielder, is neither of those things, but he's good enough with the stick that the defensive fit is a secondary concern.
But it's still an area Dombrowski and skipper Don Mattingly need to get sorted. For the past few seasons, Philly has had a static infield alignment of Bryce Harper at first, Bryson Stott at second, Trea Turner at short and Alec Bohm at third. Kyle Schwarber's presence keeps the DH spot clogged up with home runs. Arraez has been adamant about staying at second base ahead of another trip to free agency this winter. So how does he slot in? There are a bevy of options.
Harper, as recently as last week, expressed a willingness to move back to the outfield, where he spent the early years of his career. That would push Bohm to first, Stott to third and give Arraez the everyday second base job. Bohm could also move to the bench, or get dealt elsewhere before Monday's 6 p.m. ET deadline. Another path, as reported by The Athletic's Matt Gelb, would be trying the fleet-footed Stott in the outfield.
It wasn't that long ago — literally last winter — that Arraez was considered a below-average first baseman. But he signed with the Giants, in part, to prove that he could still handle the keystone, which he has. Still, it's worth noting he's graded out closer to average over the past few months following an elite defensive April.
#bohm #call
3 months ago
CARACAS (AP) — Venezuelans are watching the start of a round of U.S.-backed talks between the ruling party and the opposition on Saturday with cautious optimism after several previous negotiations failed to bring reconciliation.
The latest talks follow the January capture of then-President Nicolás Maduro by U.S. forces, and will focus on strengthening democracy and restoring rights after nearly three decades of socialist rule.
The talks will be led by members of Venezuela's overwhelmingly pro-government National **** embly and a group of former opposition lawmakers who previously attempted to oust Maduro. U.S. officials say they will have a facilitating role.
"I hope these people (the government) finally understand that we won't move forward with the usual arbitrary actions; they must respect agreements," said Soraida Martínez, a 58-year-old homemaker. "Both sides need to make concessions for the good of the country."
Saturday's meeting comes nearly seven weeks after a gathering in Caracas between National **** embly chief Jorge Rodríguez — the brother of Acting President Delcy Rodríguez — and former lawmaker Dinorah Figuera, who briefly returned to Venezuela after nearly eight years in exile.
#talks #caracas #maduro #assembly
The latest talks follow the January capture of then-President Nicolás Maduro by U.S. forces, and will focus on strengthening democracy and restoring rights after nearly three decades of socialist rule.
The talks will be led by members of Venezuela's overwhelmingly pro-government National **** embly and a group of former opposition lawmakers who previously attempted to oust Maduro. U.S. officials say they will have a facilitating role.
"I hope these people (the government) finally understand that we won't move forward with the usual arbitrary actions; they must respect agreements," said Soraida Martínez, a 58-year-old homemaker. "Both sides need to make concessions for the good of the country."
Saturday's meeting comes nearly seven weeks after a gathering in Caracas between National **** embly chief Jorge Rodríguez — the brother of Acting President Delcy Rodríguez — and former lawmaker Dinorah Figuera, who briefly returned to Venezuela after nearly eight years in exile.
#talks #caracas #maduro #assembly
3 months ago
The San Francisco Giants are expected to be one of the biggest sellers in baseball this season. And on Sunday night, less than 24 hours before the trade deadline, the Giants finally got started. According to a report by Robert Murray, the Giants are trading right-handed starter Tyler Mahle to the Atlanta Braves in exchange for right-handed reliever Anthony Molina.
It's a modest return, but that's to be expected for Mahle, who has been having a difficult season. The veteran, who turns 32 next month, has a 5.13 ERA and a 4.38 FIP on the year. But he's a proven entity who was excellent last year, and has been pitching much better lately. Whether as a starter or in long relief, Mahle can add value to an Atlanta team chasing the postseason.
As for the player coming to San Francisco, Molina is on the 40-man roster, but has spent the bulk of the season in AAA. He debuted in 2024 and pitched that season and the 2025 season with the Colorado Rockies, where he amassed a 6.96 ERA and a 5.14 FIP in 52 games and 94.1 innings.
Atlanta claimed Molina off of waivers this last offseason, then designated him for ******* ignment and outrighted him to AAA, before adding him back to the roster on May 1. He's only pitched five innings across three games for the Braves Major League team, but has pitched extensively for their AAA squad this year. Atlanta has experimented with using Molina as a starter in the Minors, and in 17 games this year (and nine starts), the Venezuelan has a 3.78 ERA and a 4.14 FIP, with 53 strikeouts and 20 walks in 52.1 innings.
While Molina hasn't been particularly good, he is intriguing, and he's still only 24 years old (he also has another option year remaining after this season). He has four pitches that he's thrown more than 17% of the time this year: a fastball that averages 96.5 mph, a curveball, a changeup, and a slider. We'll see if the Giants send him to AAA Sacramento or put him in the Majors … and whether they view him as a starter or a reliever (I would ******* ume the latter).
#innings
It's a modest return, but that's to be expected for Mahle, who has been having a difficult season. The veteran, who turns 32 next month, has a 5.13 ERA and a 4.38 FIP on the year. But he's a proven entity who was excellent last year, and has been pitching much better lately. Whether as a starter or in long relief, Mahle can add value to an Atlanta team chasing the postseason.
As for the player coming to San Francisco, Molina is on the 40-man roster, but has spent the bulk of the season in AAA. He debuted in 2024 and pitched that season and the 2025 season with the Colorado Rockies, where he amassed a 6.96 ERA and a 5.14 FIP in 52 games and 94.1 innings.
Atlanta claimed Molina off of waivers this last offseason, then designated him for ******* ignment and outrighted him to AAA, before adding him back to the roster on May 1. He's only pitched five innings across three games for the Braves Major League team, but has pitched extensively for their AAA squad this year. Atlanta has experimented with using Molina as a starter in the Minors, and in 17 games this year (and nine starts), the Venezuelan has a 3.78 ERA and a 4.14 FIP, with 53 strikeouts and 20 walks in 52.1 innings.
While Molina hasn't been particularly good, he is intriguing, and he's still only 24 years old (he also has another option year remaining after this season). He has four pitches that he's thrown more than 17% of the time this year: a fastball that averages 96.5 mph, a curveball, a changeup, and a slider. We'll see if the Giants send him to AAA Sacramento or put him in the Majors … and whether they view him as a starter or a reliever (I would ******* ume the latter).
#innings
3 months ago
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Record performance was driven by exceptional operational reliability and commercial execution across all three segments amid significant geopolitical volatility.
Refining margins benefited from a constructive environment characterized by low global product inventories and limited excess refining capacity.
The U.S. Gulf Coast remains a primary strategic advantage due to abundant domestic production and access to diverse feedstocks, including Canadian and Venezuelan crudes.
Renewable Diesel and Ethanol segments saw structural tailwinds as the RVO and D4 RIN values increased at a rate faster than feedstock fat prices.
#segments #tell
Record performance was driven by exceptional operational reliability and commercial execution across all three segments amid significant geopolitical volatility.
Refining margins benefited from a constructive environment characterized by low global product inventories and limited excess refining capacity.
The U.S. Gulf Coast remains a primary strategic advantage due to abundant domestic production and access to diverse feedstocks, including Canadian and Venezuelan crudes.
Renewable Diesel and Ethanol segments saw structural tailwinds as the RVO and D4 RIN values increased at a rate faster than feedstock fat prices.
#segments #tell
