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Chevron Nears Deal To Expand Venezuela Oil Operations
Chevron Nears Deal To Expand Venezuela Oil Operations
Venezuela could soon become a much bigger part of Chevron’s global oil business, according to Bloomberg.
The company is reportedly nearing an agreement to take control of operations at two large crude-producing areas in the country’s Carabobo region, adding access to substantial heavy-oil resources.
The potential expansion comes as Washington seeks to attract more American capital to Venezuela’s energy sector and boost the country’s output. Chevron already has an established presence there through a partnership with state oil company PDVSA, making it the only...
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Mar 30, 2026 / Tyler Durden
Global Demand Destruction: Subsidies, Empty Gas Stations, Rationing, Flight Cancelations, Export Limits, Price Controls
Global Demand Destruction: Subsidies, Empty Gas Stations, Rationing, Flight Cancelations, Export Limits, Price Controls
In the past two weeks we have discussed demand destruction as a result of soaring oil prices (here and here), and we are increasingly seeing anecdotal evidence of just that (here is a table from Goldman we showed previously, laying out where demand destruction is most acute).
We start, as always, with Asia which has emerged as ground zero of the global energy crisis - as a reminder last week we first presented a map by JPMorgan's...
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Aug 7, 2026 / Tyler Durden
Both Iranian & Israeli Officials Call Out 'Paper Tiger' Saudi Arabia
Both Iranian & Israeli Officials Call Out 'Paper Tiger' Saudi Arabia
Regional rivals and enemies are calling out Saudi Arabia as a "paper tiger" which must rely on others for protection and defense needs.
Criticisms of Riyadh are being issued on the same day the kingdom signed a major security pact with the other major Muslim-dominant nations of Pakistan and Turkey. Formally called the Makkah Joint Defense Agreement, it is essentially a NATO-style agreement for the 'Muslim world' - given that it stipulates and formalizes that an armed attack on any of the countries will...
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Jul 7, 2026 / Tyler Durden
Monaco Bombing Attack Suspect Shot Dead In Ukraine, Intelligence Officer In Custody
Monaco Bombing Attack Suspect Shot Dead In Ukraine, Intelligence Officer In Custody
The saga of the Monaco package bomb attack carried out last week against an exiled Ukrainian oligarch just got even wilder and more mysterious, as the prime suspect has been found shot dead near Kiev.
The Guardian reports that "Ukrainian prosecutors said on Tuesday the woman had been found with a gunshot wound to the head and that two men had been arrested in connection with the case, including an officer with Ukraine’s military intelligence agency (HUR) and a former...
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