The waiver allowing the sale of Russian oil has been extended for another 30 days, and is expected to generate about $150 million per day. U.S. Treasury Secretary…
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Energy Department Awards Contracts from SPR for Emergency Exchange
Members of the International Energy Agency are seeking to relieve oil supply disruptions. The Department of Energy announced the awarding of contracts for the exchange of roughly 53.3…
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Secretary of State Provides Update on Venezuela
The situation in Venezuela is said to have stabilized, and recent developments are provided from the lens of the federal official. Secretary of State Marco Rubio recently offered…
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Pakistani Minister Confirms U.S. Negotiating Indirectly with Iran
Iran allowed oil tankers to pass through the Strait of Hormuz as a sign of good faith. Pakistani Foreign Minister Ishaq Dar confirmed that the United States is…
Read MoreEnergy Department to Draw Down SPR as Part of IEA Coordinated Oil Release
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…
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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…
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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…
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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…
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