Trending News: Oil Rally Gives Russia an Excuse to Delay Crucial Budget ReformVenezuela Needs to “Rewire” Fiscal System to Attract Investment, ConocoPhillips CEO SaysWhite House Dismisses Insider Trading Claims in Oil MarketChina is Mapping the Ocean Floor as it Prepares for Submarine Warfare With the U.S.Microsoft President Says Building Data Centres Requires Trust of US CommunitiesOutage in Australia Adds to Global LNG CrunchForeign Funds Ditch $50 Billion in Asian Stocks as Oil Shock Dims ProspectsTanker Rates for Red Sea-Loading Saudi Crude PlungeValero Shuts Texas Refinery After Explosion Rocks Diesel Unit, Sources SayUnited Airlines Bets Bigger on Premium Travel as Iran War Drives Up Fuel CostsUS to Continue Iran Strikes, Pause Applies Only to Energy Sites, Semafor ReportsTotalEnergies axes US offshore wind projects, redirects $1bn to LNG and oilBCGA warns of risks from illegal nitrous oxide importsVideo | “Let’s make CCU more mainstream” – CO2 Value EuropeValero Shuts Major Refinery After Explosion as Fuel Markets TightenIndian Refiners Cautious Over Iranian Oil Despite U.S. WaiversUAE: Weaponizing Hormuz is Economic Terrorism Against the WorldEU–Australia trade deal to spur industrial gas and goods exportsJapan advances onboard carbon capture with latest approvalsJapan advances onboard carbon capture with latest approvalsOIL RISES as Supply Disruption Persists and Iran Denies US TalksCERAWeek: Mideast Situation Shows Need for Energy Diversification, Says Cheniere CEOJapan Moves to Release Oil Stockpiles as Energy Crisis DeepensTanker Carrying Iraqi Oil Crosses HormuzChina’s Green Energy Stocks Surge as Middle East War Upends Oil MarketsThis Is Not a Textbook Oil ShockRenergen advances Virginia helium project ahead of scheduleTop Stories Of The Day: NTPC UP Green Energy Seeks Solar-BESS EOI; KERC Notifies Demand Flexibility Rules and More…Iraq Achieves Improved Grid Stability With Record Power Supply And Infrastructure UpgradesUniper greenlit to build UK green hydrogen hubPragmatism not polarisation: securing Britain’s energy futurePragmatism not polarisation: securing Britain’s energy futureSolar First Completes 1MWp Rooftop Solar Project In Thailand With Advanced Mounting SolutionUnimot Energia i Gaz And 3T Office Park Sign 4-Year cPPA For Long-Term Green Energy Supply In PolandPowerChina Secures $1.9 Billion Solar And Storage Project In Abu DhabiChina’s Sinopec not Buying Iranian Crude despite U.S. WaiverOil Prices Spike as Iran Denies U.S. Talks and Traders Refocus on Supply RiskSaudi Arabia, Kuwait Push Energy Deals despite WarFirst beer carbonated with CO2 from DAC launches in CaliforniaDirect air capture is costly today but could be critical for future CO2 supplyBahrain urges UN Security Council to protect Strait of Hormuz “by all necessary means”Bahrain urges UN Security Council to protect Strait of Hormuz “by all necessary means”Europe’s Gasoline Exports Shift to Asia as War Roils Fuel MarketsLNG Exports Plunge to 6-Month Low as War Throttles SupplyTrump Says US Has ‘Major Points of Agreement’ in Talks With IranOil Prices Have Not Climbed Enough to Cause Demand Destruction, US Energy Secretary Chris Wright SaysWhy $100 Oil Won’t Break the American Consumer: McGeeverChevron CEO Says it Will Take Time for Energy to Recover From Middle East Production HitUS Needs More Energy Development to Power AI, Google President SaysGas Tankers Sail Through Hormuz to India, Most Ships Still Stuck, Data ShowsUS Energy Chief Tells CNBC a Further SPR Oil Release is UnlikelyOil Execs Warn of Long-Term Damage From Iran War as US Downplays CrisisNDA launches waste container standardisation initiativeUpgraded turbine monitoring system at Temelin 2Data centre to be built near planned Polish nuclear power plantUzbekistan and Russia mark SMR construction progressTrump’s Iran War Oil Shield is Cracking: BoussoHigh Oil Prices Could Force Fed To Raise RatesGoldman Sachs Raises 2026 Brent Crude Average Price Forecast by $8 to $85 a Barrel, WTI to $79 a BarrelOil Plummets 8% as Trump Postpones Hormuz Deadline ThreatChinese Oil Giants Rethink Iranian Crude After US WaiverZombie Tankers Appear in Hormuz as War Fuels Traffic ChaosOver 60% of California hydrogen stations offline after gaseous supply disruptionTrump Reports ‘Productive Conversations’ with IranPodcast | Live from Rotterdam: Europe’s CO2 supply risk and the biogenic pushUK and China firms use CO2 for low-carbon polyols at Chinese plantUMOE launches China production and ships first hydrogen cylinders to AustraliaOil Plunges After Trump Postpones Strikes on Iranian Power PlantsSaudi Aramco Boss Pulls Out of Major International Energy Conference Due to Iran ConflictTrump Puts Off Threat to Bomb Iran Power Grid, Iranian Agency Denies Report of Talks to End WarIndia Holds Fuel Prices Steady Even as Oil Basket Soars Above $155IEA Signals Readiness for Another Emergency Oil ReleaseGoldman Boosts Oil Price Forecast by $8 for Brent and $7 for WTIIndian LPG Cargoes Pass Through Strait of HormuzSaudi Arabia Slashes Oil Supply to Asia as War Chokes Export RouteKuwait Awards $1.6 Billion Contract To Modernize Sabiya Power Station And Strengthen National Power GridMAHAGENCO Invites Bids For 300 MW Phase-II Grid-Connected Solar PV Projects In MaharashtraQatarEnergy Missile Strikes May Cause $100B Revenue LossChina firm commissions small cryogenic nitrogen unit in VenezuelaTop Stories Of The Day: CERC Unveils Storage Tariff Rules; POWERGRID Clears ₹705 Cr Plan and MoreEntergy Arkansas Strengthens Statewide Electric Grid With Pole Upgrades And Infrastructure ImprovementsGlobal Oil Shock Sparks Urgent Call For Electrification, Low-Carbon Fuels, And Strategic Energy Planning In AustraliaSinexcel Commissions First Sirius 135K Energy Storage Project in ThailandBlack Moon Energy signs helium-3 deal with US DOEBM Greentech Eyes Strong Growth With Solar-BESS Shift And Diversified Green PortfolioOil Prices Ease As US Pulls Out All Stops To Secure SupplyOil Markets Brace for Volatility as Trump’s Iran Deadline Fuels Escalation FearsFears of helium ‘tsunami’ but market holds up for nowIran, Trump Exchange Threats over HormuzCRUDE OIL’S CATCH-22: Pricing for Trump TACO Trade Makes it Less Likely: RussellAsian Refiners Pay Record Premiums for Non-Middle East CrudeU.S. Bets on Natural Gas to Power 10 GW AI Buildout in OhioIran to Completely Close Hormuz if Trump Executes Threats on Iranian Energy, Revolutionary Guards SayVietnam, Russia sign agreement on new nuclear plantThe Nuclear Company launches nuclear services subsidiaryUEC expands output at Wyoming mine, initiates conversion facility licensing processKazatomprom preparing Akdala deposit’s next stepsApplication submitted for Swedish SMR plantOil Prices Set to Rise Further on Monday as Mideast War EscalatesUS Allows 30-Day Sale of Iran Oil at Sea in Bid to Tame Prices
Wed. Mar 25th, 2026
Trending News: Oil Rally Gives Russia an Excuse to Delay Crucial Budget ReformVenezuela Needs to “Rewire” Fiscal System to Attract Investment, ConocoPhillips CEO SaysWhite House Dismisses Insider Trading Claims in Oil MarketChina is Mapping the Ocean Floor as it Prepares for Submarine Warfare With the U.S.Microsoft President Says Building Data Centres Requires Trust of US CommunitiesOutage in Australia Adds to Global LNG CrunchForeign Funds Ditch $50 Billion in Asian Stocks as Oil Shock Dims ProspectsTanker Rates for Red Sea-Loading Saudi Crude PlungeValero Shuts Texas Refinery After Explosion Rocks Diesel Unit, Sources SayUnited Airlines Bets Bigger on Premium Travel as Iran War Drives Up Fuel CostsUS to Continue Iran Strikes, Pause Applies Only to Energy Sites, Semafor ReportsTotalEnergies axes US offshore wind projects, redirects $1bn to LNG and oilBCGA warns of risks from illegal nitrous oxide importsVideo | “Let’s make CCU more mainstream” – CO2 Value EuropeValero Shuts Major Refinery After Explosion as Fuel Markets TightenIndian Refiners Cautious Over Iranian Oil Despite U.S. WaiversUAE: Weaponizing Hormuz is Economic Terrorism Against the WorldEU–Australia trade deal to spur industrial gas and goods exportsJapan advances onboard carbon capture with latest approvalsJapan advances onboard carbon capture with latest approvalsOIL RISES as Supply Disruption Persists and Iran Denies US TalksCERAWeek: Mideast Situation Shows Need for Energy Diversification, Says Cheniere CEOJapan Moves to Release Oil Stockpiles as Energy Crisis DeepensTanker Carrying Iraqi Oil Crosses HormuzChina’s Green Energy Stocks Surge as Middle East War Upends Oil MarketsThis Is Not a Textbook Oil ShockRenergen advances Virginia helium project ahead of scheduleTop Stories Of The Day: NTPC UP Green Energy Seeks Solar-BESS EOI; KERC Notifies Demand Flexibility Rules and More…Iraq Achieves Improved Grid Stability With Record Power Supply And Infrastructure UpgradesUniper greenlit to build UK green hydrogen hubPragmatism not polarisation: securing Britain’s energy futurePragmatism not polarisation: securing Britain’s energy futureSolar First Completes 1MWp Rooftop Solar Project In Thailand With Advanced Mounting SolutionUnimot Energia i Gaz And 3T Office Park Sign 4-Year cPPA For Long-Term Green Energy Supply In PolandPowerChina Secures $1.9 Billion Solar And Storage Project In Abu DhabiChina’s Sinopec not Buying Iranian Crude despite U.S. WaiverOil Prices Spike as Iran Denies U.S. Talks and Traders Refocus on Supply RiskSaudi Arabia, Kuwait Push Energy Deals despite WarFirst beer carbonated with CO2 from DAC launches in CaliforniaDirect air capture is costly today but could be critical for future CO2 supplyBahrain urges UN Security Council to protect Strait of Hormuz “by all necessary means”Bahrain urges UN Security Council to protect Strait of Hormuz “by all necessary means”Europe’s Gasoline Exports Shift to Asia as War Roils Fuel MarketsLNG Exports Plunge to 6-Month Low as War Throttles SupplyTrump Says US Has ‘Major Points of Agreement’ in Talks With IranOil Prices Have Not Climbed Enough to Cause Demand Destruction, US Energy Secretary Chris Wright SaysWhy $100 Oil Won’t Break the American Consumer: McGeeverChevron CEO Says it Will Take Time for Energy to Recover From Middle East Production HitUS Needs More Energy Development to Power AI, Google President SaysGas Tankers Sail Through Hormuz to India, Most Ships Still Stuck, Data ShowsUS Energy Chief Tells CNBC a Further SPR Oil Release is UnlikelyOil Execs Warn of Long-Term Damage From Iran War as US Downplays CrisisNDA launches waste container standardisation initiativeUpgraded turbine monitoring system at Temelin 2Data centre to be built near planned Polish nuclear power plantUzbekistan and Russia mark SMR construction progressTrump’s Iran War Oil Shield is Cracking: BoussoHigh Oil Prices Could Force Fed To Raise RatesGoldman Sachs Raises 2026 Brent Crude Average Price Forecast by $8 to $85 a Barrel, WTI to $79 a BarrelOil Plummets 8% as Trump Postpones Hormuz Deadline ThreatChinese Oil Giants Rethink Iranian Crude After US WaiverZombie Tankers Appear in Hormuz as War Fuels Traffic ChaosOver 60% of California hydrogen stations offline after gaseous supply disruptionTrump Reports ‘Productive Conversations’ with IranPodcast | Live from Rotterdam: Europe’s CO2 supply risk and the biogenic pushUK and China firms use CO2 for low-carbon polyols at Chinese plantUMOE launches China production and ships first hydrogen cylinders to AustraliaOil Plunges After Trump Postpones Strikes on Iranian Power PlantsSaudi Aramco Boss Pulls Out of Major International Energy Conference Due to Iran ConflictTrump Puts Off Threat to Bomb Iran Power Grid, Iranian Agency Denies Report of Talks to End WarIndia Holds Fuel Prices Steady Even as Oil Basket Soars Above $155IEA Signals Readiness for Another Emergency Oil ReleaseGoldman Boosts Oil Price Forecast by $8 for Brent and $7 for WTIIndian LPG Cargoes Pass Through Strait of HormuzSaudi Arabia Slashes Oil Supply to Asia as War Chokes Export RouteKuwait Awards $1.6 Billion Contract To Modernize Sabiya Power Station And Strengthen National Power GridMAHAGENCO Invites Bids For 300 MW Phase-II Grid-Connected Solar PV Projects In MaharashtraQatarEnergy Missile Strikes May Cause $100B Revenue LossChina firm commissions small cryogenic nitrogen unit in VenezuelaTop Stories Of The Day: CERC Unveils Storage Tariff Rules; POWERGRID Clears ₹705 Cr Plan and MoreEntergy Arkansas Strengthens Statewide Electric Grid With Pole Upgrades And Infrastructure ImprovementsGlobal Oil Shock Sparks Urgent Call For Electrification, Low-Carbon Fuels, And Strategic Energy Planning In AustraliaSinexcel Commissions First Sirius 135K Energy Storage Project in ThailandBlack Moon Energy signs helium-3 deal with US DOEBM Greentech Eyes Strong Growth With Solar-BESS Shift And Diversified Green PortfolioOil Prices Ease As US Pulls Out All Stops To Secure SupplyOil Markets Brace for Volatility as Trump’s Iran Deadline Fuels Escalation FearsFears of helium ‘tsunami’ but market holds up for nowIran, Trump Exchange Threats over HormuzCRUDE OIL’S CATCH-22: Pricing for Trump TACO Trade Makes it Less Likely: RussellAsian Refiners Pay Record Premiums for Non-Middle East CrudeU.S. Bets on Natural Gas to Power 10 GW AI Buildout in OhioIran to Completely Close Hormuz if Trump Executes Threats on Iranian Energy, Revolutionary Guards SayVietnam, Russia sign agreement on new nuclear plantThe Nuclear Company launches nuclear services subsidiaryUEC expands output at Wyoming mine, initiates conversion facility licensing processKazatomprom preparing Akdala deposit’s next stepsApplication submitted for Swedish SMR plantOil Prices Set to Rise Further on Monday as Mideast War EscalatesUS Allows 30-Day Sale of Iran Oil at Sea in Bid to Tame Prices
Wed. Mar 25th, 2026

Venezuela Needs to “Rewire” Fiscal System to Attract Investment, ConocoPhillips CEO Says

venezuela refinery 1200x810

(Reuters) – Venezuela needs to “completely rewire” its fiscal system to attract new investment, ConocoPhillips CEO Ryan Lance said on Tuesday at the CERAWeek conference in Houston, underscoring the challenges facing the country’s oil industry in the wake of President Nicolas Maduro’s capture in January.

Lance called a reformed hydrocarbon law in the OPEC-member country “woefully inadequate” and said the country needed to guarantee contract durability to attract large-scale investment.

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Following the U.S. capture and removal of Maduro from office, President Donald Trump has called on oil firms to spend $100 billion to rebuild Venezuela’s energy industry, which has suffered from long-standing underinvestment.29dk2902l

Venezuela owes ConocoPhillips $12 billion stemming from the expropriation of the company’s assets in 2007, Lance said, adding that his focus was on recouping those losses.

Lance’s comments echoed those of Chevron CEO Mike Wirth on Monday, who said the new hydrocarbon law had broad fiscal terms that required specific incentives.

Reporting by Sheila Dang in Houston; Writing by Liz Hampton; Editing by David Gregorio

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