The U.S. national debt recently passed $40 trillion, hitting this monstrous milestone months ahead of Congressional Budget Office projections, in part due to tariff refunds increasing the total deficit. In March, the federal debt held by the public reached the size of U.S. annual gross domestic product, nearing its all-time peak from more than 80 […]
The Trump administration announced Friday that it has imposed sanctions on a Turkish financial institution as part of its latest effort to sever “critical financial lifelines” for the Iranian government. The actions against Golden Global Yatirim Bankasi Anonim Sirketi come after Treasury Secretary Scott Bessent last week launched “Operation Economic Outcast, ” Washington’s new effort […]
Argentina’s President Javier Milei threatened to impose sanctions on oil companies drilling near the Falkland Islands, after reiterating his claim that the territory under British control is Argentine. The Falklands are “historically and legally” Argentine, Milei said in a televised address, apparently emboldened by the recent hints from U.S. President Donald Trump that the U.S. […]
Crude oil prices extended their climb today and are set for a sharp weekly gain as the war in the Middle East continues with little chance of peace. At the time of writing, Brent crude was trading at $95.55 per barrel, and West Texas Intermediate was changing hands for $91.53 per barrel, as Iran and […]
Etu Energias agreed to acquire Chevron’s 31% operated interest in Angola’s Block 14 and its 15.5% non-operated interest in the adjoining Block 14K. The agreement carries a base cash price of $260 million and an economic effective date of January 1, 2026, according to the transaction terms reported by World Oil. The assets had initially […]
A U.S. oil company controlled by a Venezuelan business tycoon will replace Chinese and Russian operators of several Venezuelan oil fields, Reuters has reported, citing two unnamed U.S. officials. North American Blue Energy Partners, which is backed by the U.S. government, has been granted 14 oil deals by the Venezuelan government. The U.S. government will […]
Venezuela is closely examining plans to leave Opec, according to people familiar with the matter, delivering a fresh blow to the oil cartel it helped create more than six decades ago. The idea of an exit has been a topic in conversations with US officials, and no final decision has been made, said some of […]
JP Morgan and Santander will lead a fundraising operation for Argentina LNG, Bloomberg has reported, citing unnamed sources who said the total could reach $15 billion. One of these told the publication the companies involved in the project aimed to make a final investment decision by November. The Argentina LNG project is a partnership between […]
Iran has discovered more than 7.5 trillion cubic feet (212.4 billion cubic metres) of natural gas in a field in the southern Fars province, Oil Minister Mohsen Paknejad said on Sunday (August 23), according to state media. The discovery comes as Iran works to repair energy infrastructure damaged during its war with Israel and the […]
The reinstated U.S. blockade on Iranian oil exports is effectively preventing Tehran from exporting oil, making Iran’s oil volumes irrelevant for global oil market balances, Bob McNally, president of Rapidan Energy Group, told CNBC on Thursday. The U.S. brought back the blockade in the Gulf of Oman aimed at preventing Iran from exporting its oil […]