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Oil Sales

All articles tagged with #oil sales

politics1 month ago•443 min saved

Trump Admin Routes Venezuelan Oil Proceeds to Qatar, Raising Transparency Concerns

Hundreds of millions from Venezuelan oil sales are being held in a Qatar-based account rather than US banks or direct transfers to Caracas; the first sale yielded about $500 million and more are expected, with Qatar acting as intermediary to funnel funds to Venezuelan banks for food, medicine and small businesses under US oversight. Experts warn the arrangement may reduce transparency and could be used to aid the Maduro regime, while officials say the proceeds will fund government operations and essential needs in Venezuela.

via CNN|

#oil-sales #politics #qatar

politicsenergy2 years ago•2 min saved

"US Funding Bill Prohibits China's Access to Strategic Petroleum Reserve Oil"

The U.S. funding legislation includes a measure that would prevent China from purchasing oil from the Strategic Petroleum Reserve, reflecting bipartisan concern over competition with China. This move comes after President Biden's announcement of a sale of 180 million barrels of SPR oil to address soaring gasoline prices following Russia's invasion of Ukraine. The bill, which lays out funding for government segments, is set for a House vote before the Senate considers it, with the issue of SPR oil sales to China remaining a contentious topic.

via Reuters|

#bipartisan-sentiment #china #oil-sales

politics2 years ago•2 min saved

Senate Votes to Block Sale of Strategic Oil Reserves to China and Iran, Citing National Security Concerns

The Senate has passed an amendment to the National Defense Authorization Act that would prohibit the sale of oil from the Strategic Petroleum Reserve (SPR) to China, North Korea, Iran, and Russia. The amendment, spearheaded by Senators Ted Cruz and Joe Manchin, aims to prevent the sale of emergency oil reserves to adversaries. The move comes after concerns were raised about the Biden administration selling nearly a million barrels from the reserve to a Chinese state-controlled crude giant. The House had previously passed a similar measure, with bipartisan support.

via The Daily Wire|

#china #iran #oil-sales