The administration plans a 20 percent replacement for the amount of barrels released. Energy Secretary Chris Wright announced the drawdown of oil from the Strategic Petroleum Reserve as…
Read MoreCrude Oil
President Trump to Visit Venezuela and Meet with Interim President Rodriguez
The energy secretary recently traveled there to discuss potential energy deals. President Donald Trump announced his intention to visit Venezuela, concurrently commending interim leader Delcy Rodriguez. President Trump’s…
Read More
Administration Provides Oversight on Changes to Venezuelan Oil Industry
The interim president signed a law opening up privatization as the U.S. secretary of state testifies on the administration’s intentions before the Senate. President Donald Trump and Secretary…
Read More
U.S. Captures 6th Venezuelan Oil Tanker
U.S. Southern Command stated the vessel was attempting to defy U.S. sanctions against Venezuela. U.S. forces boarded and seized a Guyana-flagged crude tanker this past week that attempted…
Read MoreU.S. Forces Seize Sanctioned Oil Tankers
Crews are expected to face prosecution for transporting sanctioned Venezuelan oil. The U.S. military and Coast Guard announced that they seized two sanctioned oil tankers this week –…
Read MoreDOJ and FBI Announce Details of Oil Tanker Seized Under Judicial Warrant
The tanker, already under U.S. sanctions, sought to conceal its identity and location. The Department of Justice unsealed a warrant issued by a District of Columbia U.S. District…
Read More
Interior Department Releases Five-Year Plan for Offshore Drilling Leases
This new schedule represents the most active offshore oil and gas leasing plan in decades. The Interior Department recently released a five-year plan in support of offshore oil…
Read MoreEnergy Department Moves to Refill Strategic Petroleum Reserve
Contracts have been awarded to companies, and one million barrels of crude oil have been purchased. The Department of Energy (DOE) has awarded contracts to acquire approximately one…
Read MoreDOE to Purchase 1 Million Barrels to Refill Strategic Petroleum Reserve
Initiative begins long-term plan to strengthen U.S. energy security and rebuild reserves. The U.S. Department of Energy (DOE) recently announced it will buy one million barrels of domestically…
Read MoreTreasury Department Sanctions 50 More Iranian Entities
The fourth round of new sanctions seeks to pressure the oil and gas network. The Treasury Department’s Office of Foreign Assets Control (OFAC) recently announced sanctions on 50…
Read More