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the venezuela shock matters for crude because the opec member holds the world’s largest reserves and produces mostly heavy crude, a thick grade that requires specialized refineries. output averaged about 1.1 million barrels per day last year, roughly 1% of global supply, and exports have largely flowed to china since u.s. sanctions curtailed u.s. buying, reuters reported. trump said the united states would be strongly involved in the sector, but analysts said any sustained production recovery from sanctions relief would take time given decaying infrastructure and years of underinvestment. reuters

brent settled at $60.75 a barrel on friday, down 10 cents, and u.s. west texas intermediate ended at $57.32, also down 10 cents. with crude futures closed for the weekend, traders will gauge how much risk premium — the extra price paid to cover potential supply outages — gets added when trading resumes, after both benchmarks fell nearly 20% in 2025. “oil prices are locked in this long-term trading range,” said phil *****, senior analyst at price futures group, as the market heads into sunday’s opec+ meeting where traders expect the group to keep pausing planned output increases in the first quarter. reuters

Oil traders are bracing for the next crude-futures open after U.S. forces struck Venezuela and captured President Nicolas Maduro, while state company PDVSA said production and refining were operating normally. Two people familiar with PDVSA operations said the attack did not damage oil facilities, though the port of La Guaira near Caracas was badly hit. A U.S. tanker blockade announced in December and the seizure of two Venezuelan crude cargoes already pushed exports to roughly half their November pace, according to monitoring data and internal documents. Reuters

Venezuela’s authoritarian government has accused the US of risking plunging Latin America into chaos with “an extremely serious” act of “imperial aggression” after Donald Trump reportedly ordered strikes against the South American country.

Explosions, loud noises and low-flying aircraft were heard in the Venezuelan capital of Caracas in the early hours of Saturday amid reports that Trump had ordered the attack. In a statement, Venezuela’s government confirmed that Caracas had come under attack, as well as three other states: Miranda, La Guaira and Aragua.

“The only objective of this attack is to seize control of Venezuela’s strategic resources, in particular its oil and minerals,” it said, calling on the international community to denounce what it called a flagrant violation of international law that put millions of lives at risk.

In its note on BP’s poaching of Meg O’Neill to be its next chief executive, Lex observes that the “new broom at BP will have a great deal of sweeping to do” (December 19) and suggests that its global network of 21,000 petrol stations is largely untouched.

This is not wholly true; BP has disposed of more than half its European retail networks and most downstream operations in Africa and Asia since its 1970s peak, and the remaining chains are generally well positioned for their targeted convenience market.

Meanwhile in “Inside a failed green revolution” (The Big Read, December 11) you note that investors expect the pivot to renewable energy to be reversed, yet BP’s electric vehicle charging network (BP Pulse) is a market leader in many countries, including potential growth markets such as India through Jio-bp, its joint venture with Reliance Industries.

The logical answer would appear to be not to chip away by selling assets piecemeal (as with the recent sale of petrol stations in the Netherlands or its proposed sale of Castrol) but simply to split the company into two. The downstream part could take on fuel marketing, convenience, EV charging, lubricants and any remaining solar activities, separated from the oil and gas production.

Justified concerns over climate would fall mainly with the upstream half. However they are fuelled, it seems unlikely that private cars — and the need to refuel or recharge — are going to disappear soon.

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Sorry for repeating

Reuters is reporting the case and India's $30 billion claim for the first time. Reliance Industries said in a statement that the contents of the Reuters report were "factually incorrect" and "there is no claim of $30 billion against Reliance and BP

Sending positive vibes for all holders of Bp in 2026. (Where is my £6.40. 🫣

A Very Very Happy New Year

🥳🥳🥳🥳🥳🥳🥳🍾🍾🍾🍾🍾🍾🧑‍🎄🧑‍🎄🧑‍🎄🧑‍🎄🧑‍🎄🧑‍🎄

Https://www.fool.co.uk/2025/12/30/is-the-bp-share-price-about-to-shock-us-all-in-2026/

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Stock MarketStock Market NewsIndia's Reliance Industries says there is no $30 billion claim against company, BP

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Is BP stock attractive after the announcement?

Analysts show a constructive tilt with 10 Buy and 5 Hold ratings and a $41.50 consensus target versus a recent price of $34.31. The deal supports deleveraging, but valuation is mixed with a 58.46 P/E and 18.10 EV/EBITDA. A better entry may follow confirmed debt paydowns and a break above the 50-day average.

Https://meyka.com/blog/bp-stock-today-december-26-6b-castrol-sale-speeds-deleveraging-2612/

Oil being shorted big time not helping

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We need to move to US

A Very Good Morning Denby

On my way to Hampton for Xmas

Have a fantastic holiday

🧑‍🎄🧑‍🎄🧑‍🎄🧑‍🎄🧑‍🎄🧑‍🎄

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