Trump said after Maduro’s removal that major U.S. oil companies are ready to invest billions to revive Venezuela’s battered oil sector, though analysts warn restoring production will require massive, long-term investment despite the country’s vast reserves.
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The US Treasury has sanctioned four companies and four oil tankers linked to Venezuela’s “shadow fleet” as Trump ramps up pressure on Maduro. Exports have already halved due to a blockade—aimed at stopping oil profits funding alleged drug trafficking.
Despite a U.S. blockade and a sharp fall in exports, at least two oil tankers have reached Venezuela in recent days, underscoring PDVSA’s push to build floating storage and keep crude flowing—mainly to China to repay debt.
U.S. tariffs and diplomatic claims put India’s balancing act between cheap Russian oil and American demands under the spotlight as officials and industry await hard data on import cuts.
Iran will become a regional hub for energy trading by expanding its energy commerce, the country’s first vice president said.
Iran’s oil sales volume remains strong and continues at previous levels, Oil Minister Mohsen Paknejad said on Thursday.
The White House has directed U.S. forces to prioritize enforcing a quarantine on Venezuelan oil for the next two months. This signals Washington’s preference to pressure Caracas through economic leverage rather than military action.
Iraq’s supply of gas from Iran has been halted, the electricity ministry said on Tuesday, adding that the stoppage was due to the shutdown of some generating units and load shedding at others.
The U.S. intercepted an oil tanker off Venezuela just days after President Donald Trump ordered a “total and complete blockade” on sanctioned vessels, Homeland Security Secretary Kristi Noem confirmed.
The second conference on “Understanding the Indian Market and Trade Opportunities” was held on Wednesday at Iran’s Trade Promotion Organization, focusing on Iran–India economic ties and trade opportunities for 2026.
Iran and Belarus held the third virtual meeting of their joint oil industry working group to review progress and explore new opportunities for cooperation, focusing on implementing the bilateral oil memorandum of understanding between Iran’s Oil Ministry and Belarus’ Belneftekhim petrochemical association.
Indian Prime Minister Narendra Modi and Russian President Vladimir Putin reaffirmed their energy partnership in New Delhi, with Russia pledging steady fuel supplies to India despite U.S. sanctions and tariffs on discounted crude imports.
President Masoud Pezeshkian said all revenue generated from the fuel price reform plan will be spent entirely on improving people’s livelihoods and that not a single rial may be used for other government purposes.
Chinese Foreign Minister Wang Yi and UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan met in Abu Dhabi to pledge deeper cooperation in investment, energy, and infrastructure.
The head of Iran’s parliamentary Energy Committee said diversifying the country’s fuel mix is essential and has been clearly outlined in the Seventh Five-Year Development Plan.
President Masoud Pezeshkian reaffirmed Tehran’s commitment to implementing a comprehensive strategic cooperation agreement with Russia, saying Iran is determined to put the signed accord into effect and expects Moscow to expedite and finalize its part of the process.
India boosted Russian crude imports to €2.6 billion in November, reinforcing its role as Moscow’s second-largest buyer and channeling discounted oil into rising exports to Australia and sanction-hit Western markets.
President Masoud Pezeshkian, speaking at Shahid Beheshti University’s Student Day, condemned sectoral imbalances and urged fair gasoline pricing to safeguard vulnerable Iranians.
Putin vowed to keep Russia a “reliable supplier” of fuel to India despite U.S. pressure over the Ukraine war.
Venezuela’s crude and fuel exports climbed 3% in November to 921,000 barrels per day, the third-highest monthly level of 2025, Reuters reports.
