Oil

Guyana is poised to become the fourth-largest offshore oil producer in the world, placing it ahead of Qatar, the United States, Mexico and Norway.

Authorities in Venezuela have charged with corruption a businessman who is a fugitive in a separate U.S. money laundering case targeting a top ally of President Nicolás Maduro.

The U.N.'s World Court in the Hague has sided with Guyana's request for a ruling on its 124-year-old border dispute with Venezuela — which involves a lot of oil.

The new representative of Venezuela’s opposition in the U.S. is urging the Biden administration to start relaxing crippling oil sanctions on Nicolas Maduro’s government or risk seeing the socialist-run country turn into another Cuba with Washington scapegoated for increasing authoritarianism and economic hardships.

Dozens of obscure brokers are at the center of a new crackdown in Venezuela on corruption in the state-run oil industry that has government insiders scurrying for cover.

Venezuela’s attorney general says 21 people, including senior officials in President Nicolás Maduro's government and business leaders, have been arrested in connection with a corruption scheme involving international oil sales.

Exxon earned nearly $56 billion in profit last year, the biggest annual profit any Western oil company has ever seen. Chevron set its own record with $35 billion in profit.

Exxon's climate research decades back painted an accurate picture of global warming, according to a new scientific paper. Still, the oil company continued climate-denying policy efforts.

Royalties on oil and natural gas, along with lease payments on millions of acres of land, are helping the University of Texas, which is in second place, narrow the gap with Harvard.

The Department of Energy has another 400 million barrels in its strategic reserves, which the White House said it can pull from in the future if necessary.

After the cartel said it would cut oil production by 2 million barrels per day starting next month, the White House said it's time to look at the longstanding partnership with Saudi Arabia.

The 2 million bpd cut in oil production was backed by Saudi Arabia and could benefit Russia. The OPEC+ meeting took place as much of the world is battling soaring energy costs and rising inflation.