Global oil markets may be dominated by concerns about a glut, but producers have found some support in buying from China and India, spurred by a wave of US sanctions on Russian energy https://t.co/35nbpTnDZw ...

President Donald Trump said proposed Senate legislation to sanction countries conducting business with Russia would be “okay with me,” his strongest indication yet that he would support a monthslong push to strangle Moscow’s funding https://t.co/quXRbcCo0U ...

The steadfast US stance on sanctions against Serbia’s sole refiner has left Belgrade facing a stark choice: seize the company from Russia, or risk running out of crude, its energy minister said https://t.co/Hzg0Lyj9DC ...

The Trump administration extended a sanctions waiver for some Lukoil transactions as it steps up engagement with foreign governments and potential buyers over the Russian oil firm’s international assets https://t.co/gAh0P0vtYP ...

Russia’s oil shipments through the Arctic Ocean are encountering increasing delays because of US sanctions https://t.co/MbNDQZtY8d ...

Venezuela Oil Sector & US Involvement - US military buildup off the coast of Venezuela raises questions about potential regime change or negotiation for Maduro's exit [1][2] - Chevron is the biggest American operator in Venezuela, highlighting US interest in the country's oil reserves [4] - Potential scenarios include a negotiated exit for Maduro, a Noriega-style extraction, or a Seal Team Six operation [2] Venezuelan Oil Production & Recovery - Venezuela's oil production has declined significantly from its peak of 4 million barrels a day to around 500,000 barrels a day [1][5] - Rebuilding Venezuela's oil infrastructure after Maduro's removal is seen as a way to reduce reliance on Iranian and Russian oil [5][6] - Degradation of PDVSA, infrastructure issues, and massive debt pose significant challenges to a quick recovery of Venezuela's oil sector [6][7] - Sanctions relief might yield a couple hundred thousand barrels, but a return to million-barrel-a-day gains is a long-term prospect [9] Global Oil Market & Investment - Oil prices are up slightly but still below $60, influencing the performance of oil and gas stocks [10] - Lack of investment in the oil sector suggests a potential bottoming out of oil prices in the longer term [11] - Sanctions on key Russian oil exporters, Rosneft and Lukoil, are scheduled to take effect on November 21st [12] - Spare capacity in the oil market is a key factor to watch, especially with potential US military operations in Venezuela [12]

The US imposed its toughest ever energy sanctions on Moscow last month, blacklisting state-run Rosneft and privately owned Lukoil https://t.co/VVeeyNd8KH ...

Sanctions - The US imposed sanctions on dozens of companies and individuals across Asia and the Middle East [1] - The sanctioned entities are accused of supporting Iran's ballistic missile and drone manufacturing industry [1]

Core Points - Vantage Drilling has canceled a contract for drilling with Lukoil, a Russian oil major, due to U.S. and British sanctions [1][2][3] - The cancellation of the 260-day contract for the drillship Platinum Explorer was announced on October 19, shortly after sanctions were imposed on Lukoil [3] - Lukoil's overseas operations are facing significant challenges, highlighted by its declaration of force majeure at its Iraqi oil field [2] Company Summary - Vantage Drilling's contract cancellation is a direct consequence of applicable sanctions making performance unlawful [3] - Lukoil holds an 85% interest in the Trident and Est Rapsodia blocks in Romania, which are significant for gas exploration [4] - The Trident gas discovery is estimated to contain at least 30 billion cubic meters of gas, attracting interest from other energy majors like Shell and OMV [5] Industry Summary - The situation reflects the broader impact of sanctions on Russian energy companies and their ability to operate internationally [2][3] - The cancellation indicates a shift in the energy landscape, as European companies seek to replace Russian gas supplies with domestic production [5] - The Black Sea remains a critical area for gas exploration, with major energy firms looking to tap into new resources [5]

Canada announced new sanctions on Russia, affecting drone makers and 100 vessels from the country’s “shadow fleet.” https://t.co/SXNUms03Vc ...