Energy

Jan. 9 (UPI) — President Donald Trump and executives for several U.S. oil and gas companies discussed a potential $100 billion investment in Venezuela’s energy sector Friday after Venezuelan President Nicolas Maduro‘s capture.

Trump met with executives from Chevron, ConocoPhillips, ExxonMobil and other U.S. oil and gas firms and encouraged them to invest $100 billion to refine and sell seized Venezuelan oil, CBS News reported.

The president offered to guarantee the security of oil and gas companies if they returned to Venezuela, which decades ago seized infrastructure owned and built by U.S. firms when former President Hugo Chavez nationalized the country’s oil and gas industry.

With the backing of the United States and security assurances, Trump said the oil and gas companies would “get their money back and make a very nice return,” as reported by CNBC.

He offered to make a deal with the oil and gas companies as soon as Friday and said it would help to lower energy costs for U.S. consumers.

Venezuela has an estimated 303 billion barrels of proven reserves of crude oil, which equals about 17% of the world’s supply, according to the U.S. Energy Information Administration.

That amount is the most anywhere, but Venezuela’s nationalization of its oil and gas industry led to years of neglect and greatly reduced its daily output from 3.5 million barrels per day in the 1990s to about 800,000 per day now, according to the Kpler energy consulting firm.

For Venezuela to meet a 3 million barrels-per-day target, energy firms would have to invest more than $180 billion over the next 14 years, analysts with Rystad Energy said.

Such an investment level has U.S. oil and gas executives publicly expressing skepticism, although they do acknowledge the president’s proposal is an enticing offer.

Trump said a decision on the matter should be reached very soon, if not on Friday.

The United States government has said it aims to control Venezuelan oil sales indefinitely.

“We need to have that leverage and that control of those oil sales to drive the changes that simply must happen in Venezuela,” Energy Secretary Chris Wright said on Wednesday.

His comments come days after US forces abducted Venezuelan leader Nicolas Maduro on Saturday. Since then, the administration of US President Donald Trump has announced a deal under which Venezuela would turn over 30 million to 50 million barrels of sanctioned oil to the US to sell.

That comes against a backdrop of demands that Venezuelan government officials open up access to US oil companies or risk further military action.

On Friday, executives from several major oil companies, including ExxonMobil, ConocoPhillips, and Chevron, are slated to meet with the president to discuss potential investments in Venezuela.

Can the US control Venezuelan oil sales indefinitely?

“The US federal government can absolutely intervene, make demands, capture what it wants, and redirect those barrels accordingly. I don’t know of anything that would meaningfully interfere with the federal government if that’s what it decided to do,” Jeff Krimmel, founder of Krimmel Strategy Group, a Houston, Texas-based energy consulting firm, told Al Jazeera.

There are, however, geopolitical hurdles. The US has less leverage than it did more than two decades ago when the US military and its allies entered Iraq, another oil-rich country. Today, other superpowers could stand in the way in ways they did not in 2003.

“When we went into Iraq, we were living in a unipolar moment as the world’s only great power. That era is over. China is now a great power, and most experts consider it a peer competitor. That means it has ways to hurt the US economy and to push back militarily, including through proxy conflicts, if it chooses to oppose such actions,” Anthony Orlando, professor of finance and law at California State Polytechnic University, Pomona, told Al Jazeera.

China is the largest purchaser of Venezuelan crude, although it only imports about 4 percent of its oil from the South American nation.

“It’s a question of whether they want to draw a line in the sand with the United States and say, ‘You can’t do this, because if we allow it, you’ll keep pushing further,’” Orlando said.

“If you’re a minor power like Venezuela, not China or Russia, you’re a country vulnerable to US intervention. That creates an incentive to align more closely with China or Russia to prevent it from happening, and that’s not a good outcome for the United States,” Orlando continued.

In the days since Maduro’s abduction, members of the Trump administration have also renewed calls to take over Greenland.

How does this compare with Iraq?

The US intervention in Venezuela has been compared to its involvement in Iraq, which began under the administration of former President George W Bush in 2003. At the time, Iraq had the second-largest oil reserves in the world, with 112 billion barrels.

However, production was limited. Prior to the invasion, Iraq produced 1.5 million barrels per day (bpd), rising to 4.5 million bpd by 2018.

While the Iraqi government retained ownership of oil, US companies were often given no-bid contracts to operate there, including ExxonMobil and BP, and the majority of sales went to Asian and European markets.

In 2021, Iraq’s then-President Barham Salih claimed that an estimated $150bn in money stolen through corrupt deals had been “smuggled out of Iraq” since the 2003 US-led invasion.

Unlike during the Bush administration and its aims for Iraq’s oil, the Trump administration has been explicit about the role of oil in its attack on Venezuela.

“The difference between Iraq and this is that [Bush] didn’t keep the oil. We’re going to keep the oil,” Trump said in a conversation with MS Now anchor Joe Scarborough.

Comparatively, in 2002, prior to the US invasion, then-Secretary of Defense Donald Rumsfeld asserted that the operation to take control of post-war reconstruction had “literally nothing to do with oil”.

“When the Bush administration went into Iraq, they claimed it wasn’t about that, even though there was substantial evidence it was a factor. This time it’s more explicit, so it’s clear it will impact oil markets. [But] one lesson from the Iraq war is that it’s easier said than done,” Orlando, the professor, told Al Jazeera.

Will this benefit oil companies?

Analysts argue that investments in Venezuela might not actually benefit oil companies due to rising economic uncertainty, the need for major infrastructure improvements, and the fact that large companies like ExxonMobil and Chevron already have capital programmes planned for the remainder of the decade.

“Either [the companies] will have to take on more debt or issue more equity to raise the capital needed, or they’ll have to divert capital expenditures from other regions into Venezuela. In either scenario, I expect substantial shareholder pushback,” Krimmel, the energy consultant, said.

Increased production will also require infrastructure improvements. Venezuelan oil is dense, which makes it more difficult and expensive to extract compared to oil from Iraq or the US.

Venezuelan oil is often blended with lighter grades from the US. It is comparable in density to Canadian oil, which, despite tensions between Ottawa and Washington, comes from a US ally with more modern extraction infrastructure.

“I don’t think Canada’s going to be too happy about all this,” Orlando said.

However, Chevron, the only US company currently operating in Venezuela, is seeking authorisation from Washington to expand its licence to operate in the country after the US placed restrictions on it last year, the Reuters news agency reported on Thursday, citing unnamed sources.

The US role in energy, particularly oil and gas, has surged in recent years amid the rise of fracking technology. The US is now the largest producer of oil in the world. But recent cuts to alternative energy programmes and increasing energy demands from the artificial intelligence industry have led Republicans to double down on expanding the oil and gas sector.

“There is an oil supply surplus. Even if we were in a supply deficit right now, military action in Venezuela wouldn’t unlock incremental barrels quickly. So even if you were trying to solve a short-term supply deficit, which, to be clear, we do not have, Venezuela wouldn’t be an answer because it would take too long and be too expensive to ramp production up,” Krimmel added.

While Venezuela holds the world’s largest oil reserves, the OPEC member represents only 1 percent of global oil output.

Currently, Chevron is the only US company operating in Venezuela. ExxonMobil and ConocoPhillips operated in Venezuela before Hugo Chavez nationalised the oil sector in 2007, leading to a downturn in production over years of disinvestment and poorly run facilities. In the 1990s, Venezuela produced as much as 3.5 million bpd. That has since fallen due to limited investment, with production averaging 1.1 million bpd last year.

“Venezuela’s infrastructure has deteriorated under both the Chavez and Maduro regimes. While they are extracting oil, returning to production levels from 10 or 20 years ago would require significant investment,” Orlando said.

Jan. 6 (UPI) — Venezuela will be turning over tens of millions of barrels of oil to the United States, President Donald Trump said Tuesday, days after the U.S. military seized the authoritarian president of the country, Nicolas Maduro.

Trump said Venezuela’s interim government, sworn in Monday, will be giving the United States between 30 million and 50 million barrels of “high quality, sanctioned oil.”

“This oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!” Trump said on his Truth Social platform.

It was unclear when the United States would receive the oil, but it will be brought to the United States aboard oil tankers.

Trump said Energy Secretary Chris Wright has been asked to “immediately” execute the plan.

“On it Mr. President,” Wright said in response on X.

“You have my attention to this matter.”

The U.S. military seized Maduro from Venezuela in an early morning operation on Saturday following months of military buildup around the country and an escalating Trump administration pressure campaign. He and his wife, Cilia Flores, were brought to the United States to face narcotrafficking and other drug-related charges.

The Trump administration has been enforcing a naval blockade on Venezuelan oil since mid-December, with Trump arguing the South American country’s oil and assets of U.S. companies were “stolen from us,” referring to Caracas’ decades-old nationalization of its oil industry.

Delcy Rodriguez, former vice president under Maduro, was sworn in as president of Venezuela on Monday. However, Trump has said that the United States will be “running” the South American nation, though other administration officials, including Secretary of State Marco Rubio, have attempted to soften that stance.

Rodriguez is “essentially willing to do what we think is necessary to make Venezuela great again,” Rubio said Monday.

Venezuela has the world’s largest oil reserves.

According to the U.S. Energy Information Administration, the United States consumed an average of 20.25 million barrels of petroleum per day in 2023.

Barcelona begin the defence of their Spanish Super Cup crown against Athletic Bilbao on Wednesday in Saudi Arabia.

Barcelona coach Hansi Flick said that retaining the Spanish Super Cup this week would be a boost for his team’s other ambitions this season.

The record 15-time champions face Athletic Bilbao on Wednesday in a semifinal clash at the King Abdullah Sports City stadium in Jeddah, Saudi Arabia.

Barca won the competition last season as the first part of a domestic treble, the first triumph of Flick’s reign, followed by triumphs in La Liga and the Copa del Rey.

“This tournament is a little bit different [to the equivalent competition] in Germany, but I like it,” said former Bayern Munich coach Flick.

“For us to win the Super Cup [last season] gave us a lot of energy for the rest of the season, and this is also what we want this year.”

Even though significant questions remain about their defending, Barcelona are the favourites to win the Super Cup and lead La Liga after nine consecutive top flight victories.

Despite being outplayed by neighbours Espanyol in a tense derby clash on Saturday, late goals and a sensational performance from stopper Joan Garcia helped the Catalans claim a 2-0 victory.

Flick insisted his team had to perform better at the back if they were to succeed in the sixth edition of the tournament in Saudi Arabia.

“It will not be an easy match [if] we make the same mistakes as on Saturday; it will not be easy, so we have to work on our things,” continued Flick.

“We have to play much better in the defence; we have to play connected as one team, and this is what I missed on Saturday, so we have to make things much better.”

Barcelona target Cancelo could be on the move from Saudi Arabia

Central defender Ronald Araujo could return to action this week after an extended mental health break.

The Uruguayan was granted leave for about a month following a red card in Barcelona’s 3-0 Champions League defeat by Chelsea in November.

“We will see this training [session] today, and I will also want to speak with him, so we have not decided how to do it tomorrow,” said Flick.

“I think it takes time, so if he feels ready for tomorrow, maybe we will change something, but at the moment, it’s not our plan to do this.”

Flick confirmed that Barcelona were close to signing Joao Cancelo from Al-Hilal, who is on loan until the end of the season, but the deal has not been completed.

“With Joao, maybe he can give us more options also as full-back, both sides in the offence, good quality, but [as far as] I know, it’s not done,” said Flick.

Cancelo spent the 2023-24 season on loan at Barcelona from Manchester City.

Athletic, eighth in La Liga, last won the Super Cup in 2021, beating Barcelona in the final, and have lifted the trophy on three occasions.

Only the Catalans and Real Madrid, with 13 triumphs, have a better record. On Thursday, Xabi Alonso’s Real Madrid face city rivals Atletico Madrid in the other Super Cup semifinal.

Jan. 6 (UPI) — The Department of Energy has announced it would award $2.7 billion in funding to three companies to increase domestic uranium enrichment over the next decade.

The announcement by the Department of Energy comes as President Donald Trump has sought to reinvigorate the United States’ nuclear energy industry as it moves away from foreign sources of energy.

However, the funding authority for the awards originated under President Joe Biden‘s Investing in America agenda and related legislation that aimed to increase uranium enrichment capacity in the United States to bolster U.S. energy security and resilience, while reducing dependence on Russian energy.

With the announcement, American Centrifuge Operating, General Matter and Orano Federal Services will each receive an award of $900 million.

ACO and GM will be tasked with creating domestic high-assay, low-enriched uranium enrichment capacity, while OFS will expand U.S. domestic low-enriched uranium enrichment capacity.

The three companies were chosen from six that were permitted last year to bid on future work.

“President Trump is catalyzing a resurgence in the nation’s nuclear energy sector to strengthen American security and prosperity,” Energy Secretary Chris Wright said in a statement.

“Today’s awards show that this administration is committed to restoring a secure domestic nuclear fuel supply chain capable of producing nuclear fuels needed to power the reactors of today and the advanced reactors of tomorrow.”

Orano said the funding marks a “key milestone” in accelerating the development of its $5 billion facility in Oak Ridge, Tenn.

According to the company, the United States imports two-thirds of the LEU needed to power the U.S. nuclear fleet from foreign sources, including Russia, and its new IKE facility will help reduce the United States’ dependence on Moscow, especially after the ban on Russian imports begins in 2028.

“The decision by the U.S. Department of Energy is a great source of pride as it identifies Orano as a proven nuclear fuel supplier,” Orano CEO Nicolas Maes said in a statement.

General Matter said under its contract with the Department of Energy, it will build domestic enrichment capacity that will help fuel “the next generation of American nuclear power” and enable “American leadership in AI, manufacturing and other critical industries.”

“Rebuilding U.S. domestic enrichment capacity will reduce our reliance on foreign providers, strengthen our nuclear industrial base and lower energy costs for utilities and consumers,” it said in a social media post.

“American reactors need American uranium. In partnership with the Department of Energy, we will deliver it.”

The administration of United States President Donald Trump is planning to meet with executives from US oil companies later this week to discuss boosting Venezuelan oil production after US forces abducted its leader, Nicolas Maduro, the Reuters news agency has reported, citing unnamed sources.

The meetings are crucial to the administration’s hopes of getting top US oil companies back into the South American nation after its government, nearly two decades ago, took control of US-led energy operations there, the Reuters news agency report said on Monday.

The three biggest US oil companies – Exxon Mobil, ConocoPhillips and Chevron – have not yet had any conversations with the Trump administration about Maduro’s ouster, according to four oil industry executives familiar with the matter, contradicting Trump’s statements over the weekend that he had already held meetings with “all” the US oil companies, both before and since Maduro was abducted.

“Nobody in those three companies has had conversations with the White House about operating in Venezuela, pre-removal or post-removal, to this point,” one of the sources said on Monday.

The upcoming meetings will be crucial to the administration’s hopes to boost crude oil production and exports from Venezuela, a former OPEC nation that sits atop the world’s largest reserves, and whose crude oil can be refined by specially designed US refineries. Achieving that goal will require years of work and billions of dollars of investment, analysts say.

It is unclear what executives will be attending the upcoming meetings, and whether oil companies will be attending individually or collectively.

The White House did not comment on the meetings, but said it believed the US oil industry was ready to flood into Venezuela.

“All of our oil companies are ready and willing to make big investments in Venezuela that will rebuild their oil infrastructure, which was destroyed by the illegitimate Maduro regime,” said White House spokesperson Taylor Rogers.

Exxon, Chevron and ConocoPhillips did not immediately respond to requests for comment from Reuters.

One oil industry executive told Reuters the companies would be reluctant to talk about potential Venezuela operations in group settings with the White House, citing antitrust concerns that limit collective discussions among competitors about investment plans, timing and production levels.

Political risks, low oil prices

US forces on Saturday conducted a raid on Venezuela’s capital, arresting Maduro in the dead of night and sending him back to the US to face narcoterrorism charges.

Hours after Maduro’s abduction, Trump said he expects the biggest US oil companies to spend billions of dollars boosting Venezuela’s oil production, after it dropped to about a third of its peak over the past two decades due to underinvestment and sanctions.

But those plans will be hindered by a lack of infrastructure, along with deep uncertainty over the country’s political future, legal framework and long-term US policy, according to industry analysts.

“While the Trump administration has suggested large US oil companies will go into Venezuela and spend billions to fix infrastructure, we believe political and other risks, along with current relatively low oil prices, could prevent this from happening anytime soon,” wrote Neal Dingmann of William Blair in a note.

Material change to Venezuelan production will take a lot of time and millions of dollars of infrastructure improvement, he said.

And any investment in Venezuelan infrastructure right now would take place in a weakened global energy market. Crude prices in the US are down by 20 percent compared with last year. The price for a barrel of benchmark US crude has not been above $70 since June, and has not touched $80 per barrel since June of 2024.

A barrel of oil cost more than $130 in the leadup to the US housing crisis in 2008.

Chevron is the only US major currently operating in Venezuela’s oil fields.

Exxon and ConocoPhillips, meanwhile, had storied histories in the country before their projects were nationalised nearly two decades ago by former Venezuelan President Hugo Chavez.

Conoco has been seeking billions of dollars in restitution for the takeover of three oil projects in Venezuela under Chavez. Exxon was involved in lengthy arbitration cases against Venezuela after it exited the country in 2007.

Chevron, which exports about 150,000 barrels per day of crude from Venezuela to the US Gulf Coast, meanwhile, has had to carefully manoeuvre with the Trump administration in an effort to maintain its presence in the country in recent years.

A US embargo on Venezuelan oil remained in full effect, Trump has said.

The S&P 500 energy index rose to its highest since March 2025, with heavyweights Exxon Mobil rising by 2.2 percent and Chevron jumping by 5.1 percent.

United States President Donald Trump has promised to “take back” Venezuela’s oil reserves and unleash them onto the global market after abducting Venezuelan President Nicolas Maduro.

But exploiting the Latin American country’s vast reserves would face a host of big hurdles, from decrepit infrastructure and legal obstacles to leadership uncertainty in Caracas and an excess supply of oil in the global market, experts say.

Venezuela possesses the world’s largest known oil reserves – estimated to be some 303 billion barrels – but currently produces only a tiny fraction of global output. Its estimated output was 860,000 barrels per day (bpd) in November, less than 1 percent of the world’s total, compared with 3.7 million bpd during peak production in 1970.

The oil sector’s decline has been blamed on the combined effects of US sanctions and years of underinvestment, mismanagement and corruption under Maduro and his left-wing predecessor, Hugo Chavez.

While the Trump administration could boost supply in the short term by lifting sanctions, restoring Venezuela’s output to anything near peak levels would require huge investment and likely take years, according to energy analysts.

‘Venezuela’s oil infrastructure is in poor shape’

Oil prices moved only slightly in trading on Monday amid market expectations that output would remain largely unchanged for the foreseeable future.

“Venezuela’s oil infrastructure is in poor shape overall, due to lack of maintenance for both equipment and oilfield wells,” Scott Montgomery, a global energy expert at the University of Washington, told Al Jazeera.

“The state oil company, PDVSA, is well known to suffer from corruption and lack of expertise – many well-trained people have left the country to work elsewhere – and has been unable to invest in the country’s petroleum sector,” Montgomery added.

Thomas O’Donnell, an energy and geopolitical analyst based in Berlin, Germany, estimated that Venezuela could return to peak production in five to seven years in the “absolute best” circumstances, including a peaceful transfer of power.

“Longer term, if things are sorted out, yes, Venezuela can become one of the world’s biggest producers of oil. As far as how long that takes, that has all to do with the transition and what is put in place to manage that – both the country’s security and also to manage the investments,” O’Donnell told Al Jazeera.

Mixed messaging from Trump administration

Trump’s administration has provided conflicting messages on Washington’s exact plans for Venezuela and its oil reserves.

On Saturday, Trump said the US would “run” Venezuela and that US oil companies were ready to invest billions of dollars to build up the country’s dilapidated infrastructure and “get the oil flowing”.

In interviews with US media on Sunday, US Secretary of State Marco Rubio sought to downplay Trump’s remarks about controlling the country, saying the president was referring to “running policy” and his plans related to spurring private investment, “not securing the oilfields”.

Trump later on Sunday said Washington was “in charge” of the country and was “dealing with” members of the acting administration without providing details.

Under international law, the US has no claim of ownership over Venezuela’s oil reserves, as sovereign states possess the right to control and use their natural resources under the United Nations-endorsed Principle of Permanent Sovereignty over Natural Resources.

Foreign investors, however, can claim compensation when authorities seize their assets.

ExxonMobil and ConocoPhillips were awarded $1.6bn and $8.7bn, respectively, in international arbitration following the Chavez government’s 2007 nationalisation of the oil sector. Caracas did not pay out in either case.

US oil giants, including Chevron, ExxonMobil, and ConocoPhillips, have not commented directly on Trump’s claims about planned investments in Venezuela.

Chevron is the only large US oil company currently operating in Venezuela, the result of an exemption to US sanctions first granted by the administration of former President Joe Biden.

Consultancy Rystad Energy, based in Oslo, Norway, has estimated that Venezuela’s oil sector would need about $110bn in capital investment to return to its mid-2010s output of about 2 million bpd.

Patrick De Haan, an analyst at energy price tracker GasBuddy, said companies may be reluctant to commit to large investments in the country when global oil prices are hovering around $60 a barrel due to a glut of supply.

“It will take a longer amount of time than many likely realise. Oil companies in a low-priced environment of today would likely be cautious investing billions with oil prices already low,” De Haan told Al Jazeera.

“In addition, Trump seizing Maduro could lead to loyalists sabotaging efforts to increase output. A lot would have to go right to yield the most optimistic timelines.”

US companies are likely to carefully weigh political developments in Venezuela following their experiences with the Chavez government’s expropriation of their assets.

“Oil companies are not likely to rush into a situation where the state is in turmoil, security is lacking, and no clear path forward for political stability exists,” the University of Washington’s Montgomery said.

Maduro due in court in New York

Interim President Delcy Rodriguez, who was Maduro’s deputy, is now leading the country following a ruling by Venezuela’s Supreme Court.

Maduro is scheduled to appear in a New York court on Monday to face charges related to alleged drug trafficking and working with criminal gangs.

Venezuela’s government has condemned the Trump administration over Saturday’s bombing and overthrow of Maduro, labelling his capture a “cowardly kidnapping”.

Russia, China, Iran and Brazil, among other countries, have accused Washington of violating international law, while nations including Israel, Argentina and Greece have welcomed Maduro’s forced removal.

OPEC, which sets limits on production for its 12 members, including Venezuela, is another factor in the Latin American country’s potential oil output.

“Venezuela is a member of OPEC, and like many countries, may become more actively subject to quotas if output climbs,” De Haan said.

Phil Flynn, a market analyst at the Price Futures Group, said reviving Venezuela’s oil production would face “significant challenges”, but he was more bullish about the near-term prospects than other analysts.

He said the market could conceivably see a couple of hundred thousand more barrels a day coming online in the coming months.

“We’ve not had a free Venezuela, and sometimes the US energy industry has the capability to do a lot more than people give them credit for,” Flynn told Al Jazeera.

Jan. 4 (UPI) — A far-left activist group sent police a letter taking credit for setting fire to part of a power plant near Berlin, leaving nearly 50,000 customers in the dark, as a protest against the fossil fuel industry.

The German activist group Vulkangruppe, or Volcano Group, acknowledged in a 2,500-word letter that it set a fire on Saturday near the Lichterfelde heat and power station, damaging high-voltage cables to “cut the juice to the ruling class,” The Guardian reported.

On Sunday morning, Stromnetz Berlin, the power company that owns the station, reported that roughly 45,000 homes and 2,200 businesses had lost power in the outage, Deutche Welle reported.

The power company said that while some connections have been turned back on in small waves, some customers may not have their electricity until as late as Thursday afternoon.

Some schools may also be closed for the part of the week because they do not have power, The BBC reported.

“We are expecting damage costing millions to plants and machines and owing to high losses in revenue,” Alexander Schirp, director of the regional business associations in Berlin and Brandenburg, said of the arson.

“This is a serious problem and stokes a feeling of insecurity in the business world,” he added.

Early Saturday, cables near the power plant were spotted burning and incendiary devices were later found to have caused the inferno.

In the aftermath, several hospitals and health care facilities received emergency generators, but many people had to be moved from either facilities or their own homes because there was no power.

Vulkangruppe said in the letter, which police have said is credible, that they set the fire in an “act of self-defense and international solidarity with all those who protect the Earth and life.”

The group condemned “greed for energy” by burning fossil fuels for the ever-growing electricity needs of humanity, and specifically called out the massive, and exponentially growing, use of electric for artificial intelligence computing.

“We are contributing to our own surveillance and it is comprehensive. The tech corporations are in the hands of me with power, which we give them,” the group wrote, calling the fire an “action in the public interest.”

Vulkangruppe previously took credit for a fire that was set at Tesla’s Gigafactory in Berlin in March 2024.

That arson included deliberately setting fire to a high-voltage electric pole, which damaged the electric line and cut power to the surrounding area, including the plant, officials said at the time.

Jan. 2 (UPI) — Danish renewable energy giant Orsted filed suit Thursday against the Department of Interior because it paused its lease on a $5 billion off-shore wind farm in Rhode Island.

Orsted’s Revolution Wind project is 87% complete, and “is expected to be ready to deliver reliable, affordable power to American homes in 2026,” a press release said.

Orsted shares jumped more than 4% on the lawsuit news, CNBC reported.

The administration put a halt to the project last month. The Interior Department announced it would pause the leases of five offshore wind farms being built on the East Coast.

Besides Revolution Wind, the projects are Vineyard Wind 1, Coastal Virginia Offshore Wind, Sunrise Wind and Empire Wind. The projects are in New England, Virginia and New York. Revolution Wind is a joint venture between Orsted and Global Infrastructure Partners’ Skyborn Renewables. It’s about 15 miles off the coast of Rhode Island.

Secretary of the Interior Doug Burgum announced on X in December: “Due to national security concerns identified by @DeptofWar, @Interior is PAUSING leases for 5 expensive, unreliable, heavily subsidized offshore wind farms! ONE natural gas pipeline supplies as much energy as these 5 projects COMBINED.”

The department explained in a press release that “unclassified reports from the U.S. government have long found that the movement of massive turbine blades and the highly reflective towers create radar interference called ‘clutter.’ The clutter caused by offshore wind projects obscures legitimate moving targets and generates false targets in the vicinity of the wind projects,” it said.

But Orsted argues that, “Revolution Wind has spent and committed billions of dollars in reliance upon, and has met the requests of, a thorough review process. Additional federal reviews and approvals included the U.S. Coast Guard, U.S. Army Corps of Engineers, National Marine Fisheries Service, and many other agencies.”

Revolution Wind faces “substantial harm” from the lease suspension order, Orsted said. “As a result, litigation is a necessary step to protect the rights of the project.”

Orsted’s other project, Sunrise Wind, which also had its lease suspended, “continues to evaluate all options to resolve the matter, including engagement with relevant agencies and stakeholders and considering legal proceedings,” Orsted said. Sunrise Wind is about 30 miles off the coast of New York.

President Donald Trump has made it clear that he dislikes wind energy, calling the turbines “ugly” and saying the noise they make causes cancer.

On Aug. 22, the administration ordered Orsted to stop construction on Revolution Wind to “address concerns related to the protection of national security interest of the United States.”

On Aug. 29, the Department of Transportation announced it was cutting about $679 million in funding to 12 wind farms, calling the projects “wasteful.”

Orsted then filed suit in September to reverse the stop-work order. In that filing, it said the project had already spent $5 billion.

The move opens key assets to private investment and comes as Petroperu faces mounting losses and debt.

Peru’s government has approved an emergency decree allowing private investment in parts of the state-owned oil company Petroperu, as authorities move to stabilise a firm weighed down by mounting losses and debt.

President Jose Jeri announced the decision shortly before the beginning of the new year.

The measure permits the reorganisation of Petroperu into one or more asset units, opening the door to private participation in key operations. That includes those at the flagship Talara refinery, which recently underwent a $6.5bn upgrade.

Beyond the refinery, Petroperu operates or holds concessions for six crude oil blocks with limited production, alongside a nationwide fuel distribution and marketing network.

In a statement, Peru’s Ministry of Energy and Mines said the decree seeks to “ensure compliance with financial obligations through technical management of its assets, laying the foundation for Petroperu to become a self-sustaining company”.

The ministry said the company’s financial position “is particularly sensitive”, citing accumulated losses of $479m between January and October 2025, as well as debts to suppliers totalling $764m through December.

Those figures come on top of reported losses of $774m in the previous year.

Petroperu’s financial strain has been compounded by debt linked to the Talara refinery modernisation, which ultimately cost double its original estimate and led to the company losing its investment-grade credit rating in 2022.

Since then, the government has repeatedly stepped in to support the firm, providing about $5.3bn in financing between 2022 and 2024.

The company, which is seen as crucial to Peru’s energy security, has also faced environmental scrutiny.

Authorities declared an “environmental emergency” and launched an investigation following an oil spill along a stretch of the country’s northern coastline in 2024, affecting an estimated 47 to 229 hectares (about 116 to 566 acres).

The Petroperu restructuring effort comes amid persistent political instability in Peru. Several presidents have failed to complete full terms in recent years, including Dina Boluarte, who was impeached by Congress in October.

Her successor, Jeri, has struggled to steady leadership at Petroperu, appointing three board chairs in just three months.

The move comes as Peru faces continuing political volatility, economic uncertainty and public pressure for stronger oversight of state institutions.

Venezuela’s National Assembly has passed a law enacting harsh penalties for those who support or help finance blockades and acts of piracy, including up to 20 years in prison.

The legislation was passed on Tuesday after the United States seized oil tankers linked to Venezuela, acts that the government of President Nicolas Maduro has denounced as lawless acts of piracy.

“This law seeks to protect the national economy and avoid the erosion of living standards for the population,” lawmaker Giuseppe Alessandrello said, while presenting the law before the National Assembly, controlled by Maduro’s governing party.

The US has carried out a series of increasingly aggressive measures over the past several months, deploying sizeable military forces to Latin America, seizing oil tankers, killing dozens of people in military strikes on what it says are drug-trafficking boats, and threatening land strikes on Venezuela itself.

The legality of some of those acts, such as the seizure of oil tankers in international waters, is contested. Others, such as the strikes against alleged drug traffickers, are widely considered illegal.

“We are in the presence of a power that acts outside of international law, demanding that Venezuelans vacate our country and hand it over,” Samuel Moncada, Venezuela’s representative at the United Nations, told the Security Council (UNSC) during a meeting on Tuesday.

“The threat is not Venezuela,” he added. “The threat is the US government.”

China and Russia also criticised US actions. Russia’s ambassador, Vassily Nebenzia, said that the Trump administration was creating a “template” for the use of force that could be used against other Latin American countries in the future.

“We saw clear support for Venezuela from Russia and China, but also from Colombia, and even from some other member states, talking about how the US needs to abide by international law and calling for de-escalation,” Al Jazeera correspondent Gabriel Elizondo said from the UN.

He added that several Latin American countries with right-wing governments, such as Argentina, Panama and Chile, appeared to side with the US.

“The bottom line here is that we have not gotten any better sense from the United States on what their endgame is here, where they plan to take this,” he added.

The Wall Street Journal reported on Tuesday that the US military had moved special operations aircraft and cargo planes with troops into the Caribbean this week.

“We have a massive armada formed, the biggest we’ve ever had, and by far the biggest we’ve ever had in South America,” Trump told reporters on Monday.

Maduro has said the US is seeking to topple his government and seize control of Venezuela’s large oil reserves, which members of the Trump administration have falsely claimed rightfully belong to the US. Trump said on Monday that the US would retain the oil seized from the tankers as well as the tankers themselves.

Addressing the UNSC, the US ambassador, Mike Waltz, said that oil sales were a “primary economic lifeline for Maduro and his illegitimate regime”, repeating an unsubstantiated claim that Maduro oversees a vast criminal enterprise that traffics drugs to the US.

“The single most serious threat to this hemisphere, our very own neighbourhood and the United States, is from transnational terrorist and criminal groups,” Waltz said.

The US pressure campaign has become a useful pretext for the Venezuelan government’s efforts to crack down on internal dissent.

Rights groups have said that Maduro’s government has become more repressive since the presidential election in July 2024, in which Maduro claimed victory despite the widespread doubts about the credibility of the results. The opposition has maintained it was the true winner, and few countries have recognised Maduro’s victory.

Dec. 23 (UPI) — At least four law officers were injured Tuesday in La Paz during clashes between marchers from the Central Obrera Boliviana, the country’s largest labor federation, and police as protests intensified over the government’s decision to end fuel subsidies.

President Rodrigo Paz issued a decree Dec. 18 eliminating fuel subsidies that had been in place for nearly 20 years. He also declared an “economic, financial and social emergency” to justify the reform and paired the measure with a 20% increase in the minimum wage to cushion its impact.

As a result of the decision, gasoline and diesel stopped being sold at state-controlled prices of about 53 cents per liter and shifted to prices reflecting the real cost of imports, leading to increases of nearly 200% for consumers.

According to reports by the Bolivian newspaper El Deber, the incidents that left police officers injured occurred near Plaza Murillo, close to the government palace, when miners and transport workers attempted to approach areas secured by law offivers.

The Ministry of Government said the injured officers were attacked with stones and blunt objects while carrying out public order duties.

Police said a miner was detained for allegedly throwing fireworks and dynamite. Labor leaders, meanwhile, criticized using tear gas to disperse demonstrators.

Union leaders warned that protests will continue unless their main demand is met — the repeal of the decree that eliminated fuel subsidies.

Bolivia’s Human Rights Ombudsman’s Office said that after the fuel price changes, fares for interdepartmental, interprovincial and urban transportation rose by as much as nearly 200% in several regions, according to La Razón.

After inspections at transport terminals and hubs in La Paz, Cochabamba and Santa Cruz, the ombudsman’s office documented widespread and unilateral fare hikes that in many cases doubled or even tripled prices, directly affecting the cost of living for Bolivian families.

El Deber reported that similar protests were recorded in Santa Cruz, including temporary road blockades and clashes with police, amid growing public anger over the impact of higher fuel prices on transportation and household expenses.

Authorities reiterated calls for dialogue and warned they will not tolerate violence, while unions said they will maintain mobilizations until the government reviews the measure.

Motorcyclists wearing pirate costumes rode through Caracas in a protest against US President Donald Trump, after Washington ordered the seizure of Venezuelan oil tankers under a blockade targeting vessels linked to sanctions.

A rural Texas community says nonstop noise from a bitcoin mine is destroying their lives. Residents in Hood County describe the 24/7 hum of cooling fans as “torture,” while operators defend the project as a major jobs and tax boost. Al Jazeera’s Phil Lavelle says AI data centres may bring even bigger battles ahead.

BUENOS AIRES, Dec. 19 (UPI) — Argentina has formally created the Secretariat of Nuclear Affairs, a significant structural shift in the country’s national energy strategy under President Javier Milei, aimed at positioning Argentina as a global energy leader and attracting large-scale investment.

In announcing the move, the government highlighted the country’s strengths for developing a nuclear plan, including its pool of highly trained human capital and vast, low-temperature lands in Patagonia seen as suitable for hosting artificial intelligence data centers. These advantages, officials said, allow for a combination of clean nuclear energy and cutting-edge technology.

The plan will roll out in stages. The first phase involves building small modular reactors, or SMRs, at the Atucha Nuclear Power Plant site, already underway, to ensure nationwide energy supply and reduce power outages.

SMRs produce stable and low-cost electricity, making them well-suited to power AI data centers, and would position Argentina as a regional hub for digital innovation and nuclear energy exports.

In the second phase, the government plans to develop uranium reserves to meet domestic demand and turn Argentina into an exporter of high-value nuclear fuels.

The Economy Ministry summed up the strategy in a recent statement, saying the government aims to “turn Argentina into the ‘Saudi Arabia of uranium.'”

This ambitious goal is based on the country’s uranium reserves, estimated at 36,483 tons identified and concentrated in provinces such as Mendoza, San Juan and Chubut, according to a report by the National Mining Secretariat.

Those reserves could generate significant export volumes and position Argentina as a key supplier in a growing global market driven by the energy transition.

However, physicist Alberto Baruj urged caution.

“Argentina has enough uranium for its reactors for decades. It does not have the extraordinary reserves found in other countries. Talking about being the Saudi Arabia of uranium is an exaggeration that I cannot support from a technical standpoint,” Baruj told UPI.

Baruj said Argentina could export uranium, thanks to its processing capacity. However, “it makes no sense to do so with raw ore. It would be far more convenient to process it for use in domestic reactors, including small modular reactors such as the domestically designed CAREM.”

The new nuclear institutional framework will also be tasked with leading policy on the exploitation of rare earth elements, minerals critical for batteries, cellphones and green technology, as well as nuclear minerals, in coordination with other government agencies.

It will promote collaboration among mining companies, provincial governments and private actors to increase production of these resources and drive investment, working alongside the Mining Secretariat to advance nuclear mining projects, material processing and technological applications.

“The Secretariat of Nuclear Affairs is taking on roles that previously belonged to the National Atomic Energy Commission, which blurs the agency’s place within the institutional structure,” a respected nuclear sector source who requested anonymity told UPI.

In their view, amid a budget crisis at the commission, the creation of a new body “further endangers what has historically been the center of Argentina’s nuclear activity. The inclusion of rare earth exploitation comes as a surprise within a nuclear affairs secretariat.”

Baruj also questioned the need for the new agency, saying its stated purpose, coordinating the nuclear sector, already falls by law under the National Atomic Energy Commission.

“It is possible that with the creation of the Secretariat, the government is seeking greater political control over the sector,” Baruj said. But, he added, creating a new secretariat is unnecessary if each institution fulfilled its assigned role.

“The massive loss of technical personnel with extraordinary capabilities must be reversed. But above all, the salary issue must be resolved, because the commission pays the lowest wages in the entire science and technology sector,” he said.

Baruj said the priority should be to ensure continuity of key projects such as completion of the RA-10 multipurpose reactor, its associated neutron beam laboratory, the CEARP Proton Therapy Center and the heavy water industrial plant.

“Argentina’s nuclear sector has sufficient capacity and depth to take on and carry out these projects. What is lacking, precisely, is political will,” he said.Based o

Singapore has reported a growing number of “rogue” or “shadow fleet” tankers operating off its shores in and around one of the world’s busiest maritime corridors.

According to Lloyd’s List Intelligence data cited by international maritime authorities, at least 27 such ships transited the Singapore Strait in early December, with another 130 clustered nearby around Indonesia’s Riau Archipelago.

While traffic through the strait remains dense and appears outwardly routine – more than 80,000 vessels pass through it each year – ship-spotters and analysts say the profile of some of the ships using these waters has recently changed.

Why are so many ‘rogue’ tankers appearing near Singapore?

Conflict in Ukraine and the Middle East has sparked a surge in Western sanctions on oil exports from countries such as Russia and Iran. The European Commission and the United States Trump administration have both recently renewed or extended sanctions against Venezuelan oil, as well.

As a result, a parallel, unofficial maritime network has emerged to keep sanctioned oil moving.

The Singapore Strait is a vital artery for global maritime trade, carrying about one-third of the world’s traded goods at some point along their journeys. For tankers at sea, it is almost unavoidable – the strait is a natural gateway between the Indian Ocean and the South China Sea, also a busy trade artery.

The Maritime and Port Authority monitors vessel movements within Singaporean waters. But international law limits what action it can take once ships move into the high seas – in effect, international waters – allowing shadow fleets to thrive in regulatory grey zones.

In recent weeks, suspect shipping activity has been noted just beyond Singapore’s territorial waters – roughly 22.2 kilometres from its coast – in international waters, just outside of the city state’s law enforcement reach.

What are ‘shadow fleets’ and how do they avoid sanctions?

As a result of record sanctions by Western governments in recent years over Russia’s war in Ukraine, Iran’s nuclear programme and, most recently, United States President Donald Trump’s campaign against Venezuela, the number of falsely flagged ships globally has more than doubled this year to more than 450, most of them tankers, according to the International Maritime Organization database.

All vessels at sea are required to fly a flag showing the legal jurisdiction governing their operations in international waters. The body which grants ship nationalities is the UN Convention on the Law of the Sea (UNCLOS).

A shadow ship, or “ghost” ship, is typically an ageing vessel with obscure ownership. These vessels frequently change flags – for instance, when the US seized the tanker, Skipper, off the coast of Venezuela earlier this month, the government of Guyana, Venezuela’s neighbour, said it was “falsely flying the Guyana flag”, and clarified that it was not registered in the country.

Operators of shadow ships also falsify registration details, broadcast false geo-location codes, or even switch off tracking systems altogether to evade detection and skirt UNCLOS laws.

These vessels typically carry sanctioned oil and other restricted goods such as military equipment. They often conduct risky ship-to-ship transfers of cargo under the cover of night to avoid detection. This can create serious safety and environmental risks.

Additionally, most of the tankers are owned by shell companies in jurisdictions such as Dubai, where rapid buying and selling by anonymous or newly formed firms can take place, making it even harder to trace their origins.

Jennifer Parker, a specialist in maritime law at Australia’s University of New South Wales, said the increasing number of shadow fleets presents a “real challenge”.

Parker told Al Jazeera that “finding out who owns them and who insures them has been incredibly difficult because of the [murky] paper trail around them”.

She added that “often they would do what is called bunkering, which is the process of transferring fuel at sea between ships. So that makes it hard to track where that ship has actually come from and where that oil has come from.”

She added: “Sometimes, what they do is actually mix oil, so you will have a legitimate ship that will do a ship-to-ship transfer at sea with a shadow fleet and they will mix the oil so it becomes hard to really trace where that oil has come from … to avoid sanctions.”

What sort of problems do these tankers cause?

When ageing, uninsured vessels are involved in accidents, it can lead to environmental disasters like oil spills.

According to Bunkerspot, a specialist maritime publication, a shadow tanker spill, which can cause enormous damage to water, wildlife and local coastlines, can cost up to $1.6bn in response and cleanup alone.

Last December, Russian authorities scrambled to contain an oil spill in the Kerch Strait caused by two 50-year-old tankers which had been damaged during a heavy weekend storm. The scale of the environmental damage and the associated cleanup costs remain unclear.

In addition to vessel collisions, they can cause environmental damage through chemical leaks and illegal waste dumping.

Who uses shadow fleets the most?

Russia is the primary beneficiary of ghost fleet trading. Moscow has largely maintained its oil exports despite Western sanctions, ensuring steady revenue for its war in Ukraine. Though not to the same extent, Iran and Venezuela also sell fossil fuels using ghost fleets.

China and India, currently the largest buyers of Russian crude, benefit from steep discounts, often purchasing oil well below the Western-imposed $60 per barrel price cap, which was imposed in December 2022 following Russia’s invasion of Ukraine.

Tracking by S&P Global and Ukrainian intelligence shows that Russia relied heavily on its shadow tanker fleet in 2025. India has been the main destination, importing about 5.4 million tonnes (or 55 percent of Russian crude oil sales via shadow tankers) between January and September.

China has taken a smaller but still significant share of about 15 percent. Overall, most Russian seaborne crude now moves outside Group of Seven (G7)-compliant shipping, underscoring the shadow fleet’s central role in this trade.

What actions have governments taken against shadow fleets?

To avoid enforcement of sanctions, many shadow tankers have moved out of major shipping lanes. In part, this is down to European authorities now requiring physical inspections during ship-to-ship transfers, making it riskier for these vessels to operate on conventional routes.

For instance, Denmark, Sweden, Poland, Finland and Estonia recently began carrying out insurance checks on tankers transiting the Gulf of Finland and the waters between Sweden and Denmark. This is aimed at ensuring compliance with 2022 sanctions on Russian oil.

Meanwhile, in July 2025, the United Kingdom imposed measures – such as restrictions on access to UK ports, insurance and financial services – on 135 shadow fleet vessels and two linked firms, aiming to reduce Russia’s shipping capacity and cut its energy earnings.

In the US, President Donald Trump has warned that comparable measures will follow if Russia refuses to agree to a ceasefire in Ukraine, raising the prospect of closer transatlantic coordination with the UK and Europe against shadow fleets.

Israeli Prime Minister Benjamin Netanyahu has announced ‘the largest gas deal in Israel’s history’, worth around $35 billion, with Egypt. Cairo has been a vocal critic of Israel’s genocide in Gaza, but experts say the country is facing an energy crisis.