Try GOLD - Free
Venezuela to send $2.8 bn worth of oil to US: Trump
Business Standard
|January 08, 2026
His energy secretary says US will control Venezuela oil exports
US President Donald Trump said Venezuela would relinquish as much as 50 million barrels of oil to the US, worth roughly $2.8 billion at the current market price, announcing the cargoes would be sold with proceeds benefiting both countries.
The announcement late on Tuesday, which came with few details, marked a significant step up for the US government as it seeks to extend its economic influence in Venezuela and beyond after the capture of leader Nicolas Maduro over the weekend. It is also a blow to China, previously the top buyer of the country’s oil and a close partner. “I am pleased to announce that the Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the USA,” Trump wrote on social media.
This story is from the January 08, 2026 edition of Business Standard.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Business Standard
Business Standard
Epic plans $150 million investment in Odisha for export ecosystem
Hong Kong-headquartered global apparel major Epic Group will invest $150 million to set up a new textiles and technical textiles manufacturing facility in Odisha as part of its next strategic leap.
1 min
May 07, 2026
Business Standard
'Avatar' suit focuses on hot topic in AI age: A character's face
An actress accused director James Cameron of stealing her likeness for a digitally created, blue-skinned warrior princess
3 mins
May 07, 2026
Business Standard
Banks expect MSME credit spurt from ECLGS 5.0 amid war shadow on growth
The MSME loanbook
3 mins
May 07, 2026
Business Standard
Centre to push for PM SHRI rollout in Bengal, TN, Kerala
The Ministry of Education is making a fresh attempt to roll out the Centre’s flagship PM Schools for Rising India (PM-SHRI) scheme in the three states of West Bengal, Tamil Nadu and Kerala, according to officials.
1 mins
May 07, 2026
Business Standard
HOME INSURANCE Individual plan better than society’s for full fire cover
Recent fires in highrise residential buildings across the National Capital Region have raised concerns about the safety preparedness of homeowners.
2 mins
May 07, 2026
Business Standard
Banks seek promoters’ skin in the game for Vi funding
Want guarantees from group companies, capital infusion backstop
4 mins
May 07, 2026
Business Standard
RIL plans Jamnagar refinery shutdown starting late May
A refinery maintenance takes three to four weeks to conclude
1 mins
May 07, 2026
Business Standard
Bondada may invest ₹10K cr for 25 Gw RE goal
Bondada Engineering, a ₹2,800 crore solar engineering, procurement and construction company, is eyeing investments of around ₹10,000 crore over four years to meet its 2030 target of 25 Gigawatt (Gw) renewable energy (RE) capacity.
2 mins
May 07, 2026
Business Standard
How government should use AI
BOOK REVIEW
3 mins
May 07, 2026
Business Standard
Alpha Corp to invest ₹750 cr in EIL’s stressed assets after SC approval
Delhi-based realty firm Alpha Corp Development said on Wednesday that it would invest ₹750 crore in stressed assets of Earth Infrastructure Ltd (EIL) spread across Greater Noida and Gurugram, with a total revenue potential of ₹1,200 crore.
1 min
May 07, 2026
Listen
Translate
Change font size