Core Viewpoint - Libya's government has signed a long-term oil development agreement with major Western producers, indicating a renewed ambition for energy expansion and investment confidence [1] Investment Scope - The agreement secures over $20 billion in foreign-backed funding and is projected to generate net revenue exceeding $376 billion over its 25-year lifespan [2] - The development aims to increase national oil production capacity by up to 850,000 barrels per day, marking one of Libya's largest upstream commitments in recent years [2] Current Output Levels - Waha Oil's daily production typically ranges between 340,000 and 400,000 barrels, with fluctuations based on security conditions and infrastructure stability [3] - Waha Oil operates as a subsidiary of Libya's state-run National Oil Corporation and manages five major oil and gas fields along with several producing satellite sites [3] Additional Energy Agreements - Libya has signed a memorandum of understanding with Chevron Corp and confirmed a cooperation deal with Egypt's oil ministry, reflecting stronger ties with global energy partners [4] - These agreements are seen as evidence of Libya's reopening to international capital [4] Upcoming Milestones - Libya will announce results from its first exploration bid round in over 17 years on February 11, highlighting its status as one of Africa's largest oil producers and a member of OPEC [5]

Donald Trump on Saturday said he would impose a 100% tariff on all Canadian imports if the North American country makes a trade deal with China.Beside that tariff threat, another Trump foreign policy maneuver to make news on Saturday involved the president announcing the US had taken the oil that was on recently seized Venezuelan tankers.The US president wrote on social media that if the Canadian prime minister, Mark Carney, “thinks he is going to make Canada a ‘Drop Off Port’ for China to send goods and pr ...

The United States is in talks with Chevron , other crude producers, and major oilfield service providers about a plan to quickly raise Venezuela's crude production, Bloomberg News reported on Saturday citing senior administration officials. ...

Core Viewpoint - The United States has seized oil from Venezuelan tankers and plans to process it in U.S. refineries, as stated by President Donald Trump in a recent interview [1] Group 1 - The U.S. government is actively taking control of oil resources from Venezuela, indicating a significant shift in energy sourcing and geopolitical strategy [1] - The processing of seized Venezuelan oil in U.S. refineries suggests an increase in domestic oil supply and potential impacts on the U.S. oil market [1]

A more immediate upswing in Venezuelan crude flows would align with several priorities for Trump, who has prized American energy dominance both as a source of leverage globally and political capital at home, where he is seeking to allay cost-of-living concerns ahead of critical midterm elections in November. A supply boost from Venezuela, however modest, is seen as not only helping to check crude and gasoline prices, but also expanding the US’s leeway to move against Iran without jolting the market.A repres ...

Economic Growth and Oil Politics - The American economy is experiencing a significant boom, with growth rates potentially exceeding 5 percent, driven by declining oil prices and rising wages [5][6][7] - Gasoline prices and various oil-related costs are decreasing, contributing to an increase in disposable income for the middle class, estimated at an additional $1,500 due to lower inflation and tax refunds [6] - The decline in oil prices is seen as beneficial for the American economy, while negatively impacting Russia and China by eliminating cheap oil discounts for China [4][5] Geopolitical Strategy - President Trump's actions are perceived as reducing the influence of Russia and China in the Western hemisphere, with potential regime changes in countries like Venezuela and Cuba [2][3] - The negotiation for military access in Greenland is part of a broader strategy to enhance American security and sovereignty in the region, reminiscent of historical military arrangements [3] - The Trump administration's approach is characterized as a modern interpretation of the Monroe Doctrine, aiming to prevent foreign interference in the Americas [3] Diplomatic Maneuvering - Trump's diplomatic efforts are viewed as effective in outmaneuvering Russian and Chinese interests globally, positioning the U.S. as a dominant player on the world stage [8] - The administration's strategy is described as a successful chess game, with Trump securing various international deals that bolster American influence [1][8]

Oil major Exxon Mobil's subsidiary XTO Energy is seeking buyers for some of its assets in the Eagle Ford shale basin in South Texas, an Exxon spokesperson confirmed to Reuters in a statement. ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

CALGARY, Alberta, Jan. 23, 2026 (GLOBE NEWSWIRE) -- NuVista Energy Ltd. (TSX: NVA) ("NuVista") and Ovintiv Inc. (NYSE, TSX: OVV) ("Ovintiv") are pleased to announce that today at NuVista's special meeting (the "Meeting") of holders ("NuVista Shareholders") of common shares of NuVista ("NuVista Shares"), NuVista Shareholders voted in favour of the previously announced plan of arrangement (the "Transaction") involving NuVista, NuVista Shareholders, Ovintiv Canada ULC ("Ovintiv Canada") and Ovintiv Inc. At the ...

CALGARY, AB, Jan. 23, 2026 /PRNewswire/ - NuVista Energy Ltd. (TSX: NVA) ("NuVista") and Ovintiv Inc. (NYSE: OVV) (TSX: OVV) ("Ovintiv") are pleased to announce that today at NuVista's special meeting (the "Meeting") of holders ("NuVista Shareholders") of common shares of NuVista ("NuVista Shares"), NuVista Shareholders voted in favour of the previously announced plan of arrangement (the "Transaction") involving NuVista, NuVista Shareholders, Ovintiv Canada ULC ("Ovintiv Canada") and Ovintiv Inc. At the Mee ...