President Donald Trump plans to import previously sanctioned Venezuelan oil into the U.S., tearing up the global energy playbook and underscoring the seriousness of the administration’s ambition to dominate the Western Hemisphere. China may be the ultimate target of this “Donroe Doctrine”- Trump's rebranding of a 19th-century doctrine that asserted Washington's zone of influence in the Americas. But U.S. oil companies could become the unintended casualties. Caracas has agreed to export up to $2 [Read more]
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Oil prices rise after US inventory draw, Venezuela in focus
Oil prices rose on Thursday, after two days of declines, as a larger-than-expected draw in U.S. crude inventories provided some impetus for investors to buy futures while they monitor developments in Venezuela. Brent crude futures climbed 24 cents, or 0.40%, to $60.20 a barrel by 0343 GMT, while U.S. West Texas Intermediate crude was at $56.21 a barrel, up 22 cents, or 0.39%. Both benchmarks fell more than 1% for a second day on Wednesday with market participants expecting ample global supply [Read more]
Trump considers taking control of Venezuela’s PDVSA, lower oil prices to $50 a barrel, WSJ reports
U.S. President Donald Trump and his advisers are planning an initiative to dominate the Venezuelan oil industry for years to come, and the president told aides he believes his efforts could help lower oil prices to $50 a barrel, the Wall Street Journal reported on Wednesday. A plan under consideration includes the U.S. exerting some control over Venezuela's state-run oil company PDVSA, including acquiring and marketing the bulk of the company’s oil production, the report said, citing people [Read more]
Chinese refiners expected to replace Venezuelan oil with Iranian crude, traders say
Chinese independent refiners are expected to switch to heavy crude from sources including Iran in coming months to replace Venezuelan shipments halted since the U.S. removed the country's president, traders and analysts said. Caracas and Washington agreed to export up to $2 billion worth of Venezuelan crude to the United States, President Donald Trump said on Tuesday, after U.S. forces captured Venezuelan President Nicolas Maduro over the weekend. That arrangement is likely to curtail [Read more]
When New Pipelines Are Harder Than Regime Change – Canada’s Energy Policy Competitiveness In Question – The Time To Act Is Now
There are moments when a country should pause and ask itself how it became so strategically inept. The United States deciding it is easier to re-engage Venezuela—manage a political transition, assume geopolitical risk, and ship oil across the ocean by tanker—than to expand pipeline infrastructure from its closest ally should be one of those moments for Canada. This is not a compliment. It is an indictment. Canada possesses the world’s third-largest proven oil reserves, a stable democracy, [Read more]
Tuktu Resources Ltd. Announces Corporate and Operations Update
Calgary, Alberta--(Newsfile Corp. - January 7, 2026) - Tuktu Resources Ltd. (TSXV: TUK) ("Tuktu" or the "Company"), a junior oil and gas producer based in Calgary, Alberta, is pleased to announce its 2026 corporate strategy centered on its Monarch oil play as well as an operations update. Tuktu's streamlined 2026 plan in the Monarch area focuses on improving well targeting using seismic, pursuing low-cost well workovers to de-risk the play, cutting overhead, and evaluating the divestment of its [Read more]
Prairie Provident Resources Announces Operations Update
CALGARY, Alberta, Jan. 07, 2026 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. (“Prairie Provident” or the “Company”) (TSX:PPR) provides an operational update on its drilling program in its Princess and Michichi areas. The Company successfully drilled and completed one Ellerslie multi-leg open hole horizontal well, 102/03-24-018-11W4M, in its Princess core area. The well’s initial production results are summarized in the following table: Well Identifier Days from Spud to [Read more]
Canadian crude at 18-month low versus WTI as Venezuelan turmoil rattles market
The discount on Western Canada Select to North American benchmark West Texas Intermediate futures grew on Wednesday to its widest point in 18 months as investors digested U.S. President Donald Trump's deal to import up to $2 billion worth of Venezuelan crude. WCS for February delivery in Hardisty, Alberta, settled at $14.45 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared with $13.80 on Tuesday. It was the widest discount Canadian heavy crude has settled at [Read more]
Chevron in talks with US government for expanded Venezuela license, sources say
Oil producer Chevron is in talks with the U.S. government to expand a key license to operate in Venezuela so it can increase crude exports to its own refineries and sell to other buyers, four sources close to the negotiations said on Wednesday. The talks come as Washington and Caracas progress in negotiations to supply up to 50 million barrels of Venezuelan oil to the United States and President Donald Trump presses American oil companies to invest in the South American country's energy [Read more]
Exxon signals fall in fourth-quarter upstream profit
U.S. oil major Exxon Mobil said on Wednesday that lower crude oil prices could cut its fourth-quarter upstream earnings by about $800 million to $1.2 billion. Oil prices declined 9.2% during the three months ended December 31, as concerns about oversupply and tariffs outweighed geopolitical risks. Brent crude futures shed about 19% in 2025, the most substantial annual percentage decline since 2020 and their third straight year of losses, the longest such streak on record. U.S. West Texas [Read more]
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