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LATEST ARTICLES
Togo: WEN-Africa Concludes Conference On Gender Inequalities In Energy
The Women in Energy Network-Africa (WEN-Africa) has concluded its 2026 conference in Lomé, the capital of the Republic of Togo.
The conference focused on reducing gender inequalities in the energy sector.
The event brought together institutional partners under the theme: “Addressing Gender Inequalities in Energy: Partnerships for Sustainability.”
The conference, which ended on Wednesday, included panel discussions led by partner institutions and energy sector representatives from several African countries.
Speakers highlighted WEN-Africa’s mission and progress since its launch, and shared partner experiences.
Participants also reviewed the benefits of joining the platform, existing best practices, and the impact of partnerships in narrowing gender gaps in the energy sector in sub-Saharan Africa.
The conference was attended by several dignitaries, including Kwawu Mensan Gaba, the World Bank’s Energy Global Practice Manager for Western and Central Africa, and Robert Koffi Messan Eklo, Togo’s Minister Delegate for Energy and Mineral Resources.
Gaba said the platform aims to strengthen women’s participation in energy policy, planning, and operations, build technical and leadership skills, and foster partnerships that support inclusive and sustainable energy development.
He added that the initiative also seeks to help women and young people use energy access to develop economic activities, support education, improve health outcomes, and drive innovation in their communities.
Eklo welcomed the Lomé meeting as a step toward greater equality in the sector.
“By gathering here in Lomé, we are taking a collective step to ensure that Africa’s energy transition is not only clean and resilient but also inclusive and gives women their full place,” he said.
Launched in February 2024, WEN-Africa is supported by the World Bank and aims to increase women’s participation and employment in Africa’s energy sector in partnership with international institutions.
Nigeria: TotalEnergies To Sell 10% Stake In Renaissance JV To Vaaris
TotalEnergies EP Nigeria, a subsidiary of the French multinational oil and gas company TotalEnergies, has signed a Sale and Purchase Agreement (SPA) with Vaaris Resources JV Co. Ltd. for the sale of its 10 per cent non-operated interest in the Renaissance JV licences in Nigeria.
The Renaissance JV, formerly known as the SPDC JV, is an unincorporated joint venture comprising Nigerian National Petroleum Company Limited (55 per cent), Renaissance Africa Energy Company Ltd. (30 per cent, operator), TotalEnergies EP Nigeria (10 per cent) and Agip Energy and Natural Resources Nigeria (5 per cent). The JV holds 18 licences in the Niger Delta.
Vaaris Resources JV Co. Ltd. is a consortium of Nigerian oil and gas players made up of three marginal field operators and three industry service providers.
In a statement issued on Wednesday, TotalEnergies said that under the agreement with Vaaris, TotalEnergies EP Nigeria will sell its 10 per cent participating interest, together with all related rights and obligations, in 15 Renaissance JV licences that are mainly oil-producing.
Production from these licences represents approximately 16,000 barrels of oil equivalent per day as TotalEnergies’ share in 2025.
The agreement further provides that TotalEnergies EP Nigeria will transfer to Vaaris its 10 per cent participating interest in the remaining three Renaissance JV licences, which are primarily gas-producing—OML 23, OML 28 and OML 77—while TotalEnergies will retain full economic interest in these licences. These assets currently account for about 50 per cent of Nigeria LNG’s gas supply.
The completion of the transaction remains subject to customary conditions, including regulatory approvals.
Angola: 200,000 bpd Lobito Refinery Progresses With 23% Of Work Completed
Angolan President João Lourenço on Tuesday paid a working visit to the 200,000-barrels-per-day Lobito Petroleum Refinery, reaffirming his personal commitment to strengthening the country’s energy security.
The President was accompanied by the Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, and other government officials.
The Lobito Refinery, a strategic Sonangol project, is being developed in two phases.
The first phase is scheduled for completion in 2027, while the second phase is expected to be fully completed in 2029.
So far, more than US$1.4 billion of the initial US$8 billion capital investment has been spent on the project, with overall work progress estimated at about 23 per cent.
Upon completion, the refinery will produce diesel, gasoline, aviation fuel, as well as gas for energy self-consumption and sulphur for industrial use, ensuring efficiency, quality and environmental sustainability.
Welcoming the President to the project site, Benguela Governor Manuel Nunes Júnior described the visit as a “political gesture of great importance” that honours the province and strengthens the “sense of national belonging.”
He described the refinery as an “investment of historic dimension” that will create opportunities for young people, increase household incomes and boost local entrepreneurship.
In his remarks, Minister Diamantino Azevedo stressed that the refinery forms part of a medium- and long-term strategic vision for Angola’s oil sector aimed at achieving energy autonomy.
Ghana: Premix Fuel Price Drops Significantly In January 2026
The price of premix fuel recorded a significant reduction of 16 per cent, effective January 1, 2026, compared with the previous price review conducted on October 1, 2025, according to the National Petroleum Authority (NPA).
Premix fuel, a blend of gasoline and condensate, is used to power outboard motors by artisanal fishermen in Ghana.
The decline in price is favourable to end users, particularly fisherfolk, as it helps reduce operating costs within the fishing industry.
The product was priced at GH¢5.3557 per litre during the same period last year, representing an approximate year-on-year reduction of 18 per cent.
The price reduction is largely attributable to the strong performance of the Ghana cedi against the US dollar, coupled with a notable decline in international gasoline prices, which form the primary component of premix fuel production.
Additionally, the government subsidises premix fuel by 50 per cent. As a result, the National Petroleum Authority reviews the price quarterly to ensure the subsidy remains within the approved 50 per cent threshold.
Bulk Import, Distribution and Export Companies (BIDECs) are reimbursed for any under-recoveries incurred as a result of the subsidy intervention. The periodic release of funds to settle outstanding under-recoveries is intended to ensure uninterrupted supply of premix fuel nationwide.
In this regard, the government had, as of the end of December 2025, released a total of GH¢115.96 million to clear under-recoveries accrued up to September 2025.
As of October 2025, national premix fuel consumption stood at 27,414,000 litres, according to data from the National Petroleum Authority.
Canadian Oil Tycoon Proposes Aiding US In Venezuela’s Oil Revival
A Canadian tycoon who heads one of North America’s fastest-growing oil companies is advocating for his country to lend its heavy-oil expertise to the United States as it seeks to rebuild Venezuela’s oil industry.
The comments by Adam Waterous, one of Canada’s most aggressive oil industry dealmakers and the executive chair of Strathcona Resources (SCR.TO), show a surprising willingness to support U.S. President Donald Trump despite his trade war with Canada and the potential for Venezuelan crude to displace some Canadian oil in the U.S. market.
Canada is the world’s fourth-largest oil producer. It is the top global producer of heavy crude oil, similar in quality to Venezuelan oil, which it pumps from its oil sands.
Waterous said Canada’s decades of experience extracting oil sands crude make it uniquely qualified to assist in Venezuela, and gives Canada something to offer Trump ahead of expected trilateral trade talks later this year.
“We are better positioned than any country in the world, by far, to help rebuild,” Waterous said in an interview.
“I would expect, but I don’t know, that an offer of assistance would probably be welcome.”
Strathcona is not looking to invest in Venezuela, Waterous said. But helping to rebuild Venezuela’s oil industry is an opportunity for Canada to help the United States at a time when Trump’s trade policy has strained relations between the two countries, he said.
Willing to send technical team
Trump summoned U.S. oil executives last week to the White House to discuss Venezuela. No Canadian companies attended.
“I didn’t get invited, and it’s not the Canadian industry’s role to call Donald Trump and say, ‘do you want some help?’ But I do think there’s an opportunity,” Waterous said.
Waterous — who attended Harvard University and has U.S. links through former President George W. Bush’s son-in-law Henry Hager, who serves as Strathcona’s managing director — said he would quickly assemble a technical team from his company to go to Venezuela if asked.
“I’m sure there’s not a heavy oil company in Canada that would say no,” he said.
Strathcona is Canada’s fifth-largest oil producer, which Waterous — a former banker as well as the founder and managing partner of private equity firm Waterous Energy Fund — built from scratch.
The company uses steam-assisted technology to extract heavy oil from its assets in the Cold Lake region of Alberta as well as Lloydminster, Saskatchewan.
Known for his aggressive deal-making and outspoken style, the billionaire Waterous shook up Canada’s oil patch last year by launching a heated takeover fight for MEG Energy with larger oil sands competitor Cenovus.
While he was ultimately unsuccessful in purchasing MEG, Waterous later announced he aims to more than double Strathcona’s production to 300,000 bpd by 2035 — a rate of growth that would far exceed any of the company’s peers.
Trade review pending
The Canada-United States-Mexico Agreement, which has shielded much of Canada’s exports from U.S. tariffs, is up for joint review this year, and some investors have suggested a potential increase in Venezuelan oil flows to the United States could weaken Canada’s leverage.
Canadian Prime Minister Mark Carney raised the prospect of reviving the Keystone XL oil pipeline from Alberta to the United States during a meeting with Trump earlier this year as he sought a way to address painful U.S. tariffs on steel, autos and other goods.
Waterous said Canada should now try to use its heavy crude expertise. The long-term risk of the U.S. buying Venezuelan crude also increases the need for Canada to diversify its markets and build another pipeline to the Pacific, he said.
Canada exports about 90% of its crude to the U.S., but market analysts have suggested a significant increase in Venezuelan heavy crude production would directly compete over time with Canadian barrels refined on the U.S. Gulf Coast.
A spokesperson for Canada’s natural resources ministry said the ministry had not offered Trump help with Venezuela’s oil sector.
The discount on heavy Canadian crude to U.S. oil widened by 14% last week, while shares of Strathcona and other Canadian heavy oil producers fell on investor worries about a revival of Venezuela’s oil sector.
Oil Prices Surge Amid Russia Terminal Attacks And Iran Protests
Oil prices spiked on Tuesday amid drone strikes at the Novorossiysk terminal on Russia’s Black Sea coast and protests in Iran, a major OPEC member, as concerns grew about potential disruptions to global oil supplies.
Two oil tankers waiting to load crude from some of Kazakhstan’s biggest oilfields were hit by drones at the marine terminal of the Caspian Pipeline Consortium, according to a Reuters report.
This coupled with unrest in Iran, a significant oil-producing country, sent shockwaves through the market, with prices rising sharply in response.
WTI was trading around $58 per barrel while Brent traded at $63 per barrel on Monday.
However, as at 16:00 GMT on Tuesday, WTI traded at $61 per barrel while Brent traded at $65 per barrel. Analysts warned that any disruption to Iran’s oil exports could have far-reaching implications for global energy markets.
“Iran’s situation is being closely watched by market players, given its importance in the global oil landscape,” said a market analyst.
“The protests add another layer of uncertainty to an already volatile market.”
As a result, oil prices jumped, with some analysts predicting further price hikes if the situation in Iran escalates.
Ghana: COMAC Decries GRA’s Slow Pace In Addressing Serious Regulatory Concerns
The Chamber of Oil Marketing Companies (COMAC) has expressed outrage over what it describes as the Ghana Revenue Authority’s (GRA) failure to treat with urgency key regulatory concerns formally submitted for resolution, despite the gravity of the issues involved.
According to the Chamber, it recently drew the attention of the GRA to a significant discrepancy in its system regarding the due date for tax remittance on petroleum product liftings—an issue COMAC believes poses a serious threat to stability and fairness in the petroleum downstream sector.
The Chamber noted that despite repeated requests for regulatory intervention, its concerns continue to be overlooked.
“This error exposes oil marketing companies to unnecessary compliance risks and potential penalties, undermining confidence in the fairness and consistency of the tax administration process,” COMAC said in a statement signed by its Chief Executive Officer and Industry Coordinator, Dr. Riverson Oppong.
COMAC described the continued lack of response and corrective action as a disregard for the legitimate concerns of industry stakeholders.
It further observed that the situation not only disrupts the operations of oil marketing companies but also sets a troubling precedent for regulatory engagement within Ghana’s petroleum sector.
The Chamber emphasized that the ongoing regulatory lapses pose serious challenges not only to industry players but also to consumers, the broader national economy, and international investor confidence.
It warned that failure to address the issue could result in fuel supply disruptions, price instability, reduced investor confidence, and wider economic ripple effects.
In view of these concerns, COMAC has demanded immediate and transparent action from the GRA, including the reduction of excessive bureaucracy that hampers effective and timely decision-making, correction of the tax remittance due date in the GRA system to reflect the approved regulatory timeline, and prompt resolution of all outstanding requests for regulatory intervention submitted by member companies.
The Chamber reaffirmed its commitment to full compliance, transparency, and continued partnership with the GRA.
Meanwhile, an official of the Ghana Revenue Authority has told this portal that the Authority is already working to address the concerns raised by the Chamber.
Nigeria: Generator Fumes Kill Family Of Six In Ogale Community, Rivers State
The Rivers State Police Command has launched an investigation into the death of a family of six, including both parents, who reportedly died after inhaling fumes from a generator in the Ogale community of Eleme Local Government Area, Rivers State.
According to Punch, the incident occurred after the family allegedly operated a generator inside their living room overnight.
This portal understands that the couple kept the generator indoors due to fears that it could be stolen.
Residents of the community told Punch that the generator ran throughout the night from Saturday into Sunday while the family slept.
Community members suspect that the victims died from inhaling generator fumes, as they were found lifeless in various positions inside the house.
“They were found dead in different positions. It is a very unfortunate incident, and we are calling on the police to carry out a proper investigation,” a resident was quoted as saying.
Confirming the incident on Monday, the spokesperson for the Rivers State Police Command, Grace Iringe-Koko, said investigations were ongoing.
“Yes, I can confirm the incident,” Iringe-Koko said.
“From the information available, the generator was kept in the living room because the family feared it would be stolen.
“Investigations are ongoing.”
Ghana: Independent Power Generators Confirm Payment Of Nearly US$400m In Legacy Debt To Members
The Independent Power Generators (IPGs) of Ghana have confirmed the payment of US$392,810,714 in legacy arrears owed to their member companies by the Government of Ghana as of the end of 2025.
Despite the settlement, this publication understands that the State still owes approximately US$1.1 billion to fully clear all outstanding debts owed to independent power producers.
According to the IPGs, the settlement of the arrears represents a major milestone in restoring financial stability and operational confidence across Ghana’s power sector.
In a statement, the group said the achievement reflects decisive leadership, disciplined fiscal management, and a clear commitment by government to resolving inherited structural challenges that have constrained the sector for several years.
The IPGs particularly recognised the strategic role played by the Ministry of Finance in mobilising and deploying significant financial resources to stabilise the sector, as well as the Ministry of Energy and Green Transition for the disciplined implementation of the Cash Waterfall Mechanism (CWM) and other reforms that have improved payment performance to service providers.
“These actions have sent a powerful signal to both domestic and international investors that Ghana is firmly committed to honouring its contractual obligations, strengthening sector governance, and rebuilding credibility in its power market,” the statement said.
“As a result, investor confidence in Ghana’s energy sector has been meaningfully restored, positioning the country to attract new capital, technology, and long-term partnerships,” it added.
The IPGs reaffirmed their unwavering commitment to Ghana’s energy security, economic transformation, and industrial development, pledging full cooperation with government and sector agencies to sustain reliable power supply, support ongoing reforms, and promote efficiency, transparency, and value for money across the power value chain.
“We remain confident that the collaborative spirit demonstrated in the resolution of these legacy arrears will continue to guide the Government–IPG partnership toward a future of energy sustainability, financial discipline, and shared prosperity for the people of Ghana,” the statement concluded.
Gambia: Celebrated Energy Professional Cany Jobe Appointed Director-General Of Petroleum Commission
The President of The Gambia, H.E. Adama Barrow, has appointed the country’s celebrated young female energy professional, Cany Jobe, as the new Director-General of the Petroleum Commission, the national regulatory body for the upstream and midstream petroleum sectors.
She replaces Mr. Jerreh Barrow, the immediate past Director-General of the Petroleum Commission.
Prior to her appointment, Ms. Jobe served as Director of Exploration at The Gambia National Petroleum Corporation (GNPC), where she advised government on oil, gas, and new energy exploration, and led the implementation of GNPC’s technical partnerships with international energy companies.
She was recently honoured at the MSGBC Oil, Gas and Power 2025 Conference with the Industry Pioneer Woman Award, in recognition of her leadership, technical expertise, and contributions to Africa’s upstream sector, as well as her commitment to frontier basin development, collaboration, and opportunities for women in the energy industry.
With her appointment, Cany Jobe becomes the third woman leading an upstream petroleum regulatory authority in West Africa, following Ghana’s Victoria Emeafa Hardcastle of the Petroleum Commission and Nigeria’s Oritsemeyiwa Eyesan, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Ms. Jobe brings over 18 years of experience in the energy sector to her new role, having worked in countries including China, Taiwan, Venezuela, and Australia.
She is a trained petroleum engineer with a Master of Engineering in Oil and Gas from the University of Western Australia, a Master of Project Management from Glasgow Caledonian University in Scotland, and a Bachelor of Science in Materials and Mineral Resources Engineering and Management from the National Taipei University of Technology in Taiwan.
She is also a regular participant in some of the world’s most influential petroleum and energy forums, where she speaks on Africa’s emerging basins, with particular emphasis on the MSGBC Basin, which includes The Gambia. Commenting on her appointment, Ms. Jobe expressed gratitude to President Adama Barrow for the confidence reposed in her to serve her country and the continent. According to her, the Petroleum Commission has a critical mandate to protect the national interest by regulating the upstream and midstream petroleum sectors in a manner that is technically sound and aligned with national development priorities. “As I prepare to assume this role, my focus will be on strengthening regulatory systems, building institutional capacity, reinforcing transparency, and ensuring that the sector is managed responsibly and in the long-term interest of the Gambian people,” she said. She added that as The Gambia continues to position itself within the MSGBC Basin, it is essential that the regulatory framework inspires confidence, balances investor interests with national priorities, and upholds the country’s sovereign rights over its natural resources. Ms. Jobe said she looks forward to working closely with the Ministry of Petroleum and Energy, industry stakeholders, and technical teams to ensure that petroleum development—when it occurs—delivers sustainable and measurable value for the Gambian people.Ghana: Gov’t Clears US$1.47bn Energy Sector Debt, Assures Era Of Accumulated Arrears Is Over
The Government of Ghana has paid approximately US$1.47 billion to clear accumulated energy sector debts, restoring financial stability to the sector as of December 31, the Ministry of Finance announced in a statement on Monday.
The cleared obligations include a US$597.15 million World Bank guarantee, US$480 million owed to gas suppliers ENI and Vitol, and US$392.8 million owed to nine Independent Power Producers (IPPs) operating in the country.
According to the Ministry, these debts posed some of the gravest risks to Ghana’s fiscal and financial stability.
In a detailed breakdown, the Ministry of Finance stated that Karpowership Ghana Co. Ltd received US$120 million; Cenpower Generation Co. Ltd, US$59.44 million; Twin City Energy (Amandi), US$37.99 million; Early Power Ltd, US$42 million; BXC Company Ltd, US$10.56 million; Meinergy Technology, US$8.82 million; Sunon Asogli Power Ghana Ltd, US$54 million; AKSA Energy Limited, US$30 million; and Cenit Energy Ltd, US$30 million.
The Ministry also disclosed that government has held constructive engagements with Tullow Ghana Limited and its Jubilee Field partners, agreeing on a comprehensive roadmap to guarantee full payment for all gas off-taken.
“Beyond clearing inherited arrears, and through the disciplined implementation of the Cash Waterfall Mechanism by the Ministry of Energy, Government has remained current on nearly all IPP invoices for 2025 and is firmly committed to further improving payment performance across all IPP obligations going forward,” the Ministry said.
The Ministry added that government will continue to enforce fiscal discipline in the energy sector, assuring stakeholders that the era of uncontrolled debt accumulation has come to an end.
The Government of Ghana reassured the general public, industry stakeholders, and international partners of its commitment to sustaining financial discipline and long-term stability in the energy sector.
Egypt Exports 150,000 Cubic Metres Of LNG For TotalEnergies To Canada
Egypt has exported approximately 150,000 cubic metres of liquefied natural gas (LNG) on behalf of French multinational energy company TotalEnergies, with the cargo destined for Canada.
The LNG shipment was loaded at the EDCO LNG Complex and transported aboard the vessel LNG Endeavour, according to the Egyptian Ministry of Petroleum and Mineral Resources.
The Ministry explained that the export of multiple LNG shipments forms part of a broader strategy to encourage foreign partners to increase investment in upstream gas development, boost domestic gas production, and enhance value addition and economic returns.
The initiative also aims to strengthen Egypt’s position as a regional hub for natural gas trading and export.
Ghana: Energy Minister Dr. Jinapor Inspects AKSA’s Gas-Fired Power Plant At Anwomaso In Ashanti Region
Ghana’s Minister for Energy and Green Transition, Dr. John Abdulai Jinapor, has inspected the Turkish power firm AKSA’s combined-cycle natural gas–fired power plant at Anwomaso near Kumasi in the Ashanti Region, following the successful completion of its tie-in to the national transmission grid by the Ghana Grid Company (GRIDCo).
The plant, which is being developed in two phases with a combined installed capacity of 350 megawatts (MW), is expected to inject an initial 141MW of power into the national grid.
The Minister was accompanied by officials of the Ministry, including the Chief Director, as well as the Deputy Chief Executive Officer of GRIDCo, Ing. Frank A. Otchere.
The visit follows an earlier inspection of the facility by the Deputy Minister for Energy, Richard Gyan-Mensah, in December 2025.
Other power plants under construction within the Anwomaso enclave—notably CENIT Energy’s 330MW facility—alongside the Volta River Authority’s K1TPP, which is already on the grid, are expected to significantly boost electricity supply to homes, businesses, and industries, particularly across Ghana’s middle belt.
The inspection reaffirms the government’s commitment to expanding generation capacity, improving system reliability, and ensuring long-term energy security.
Addressing officials during the inspection, Dr. Jinapor described the grid connection as a major milestone in the government’s agenda to expand generation capacity and stabilize the country’s power system.
According to officials present, he noted that the successful grid integration represents a critical step toward strengthening Ghana’s electricity infrastructure.
Integration of the AKSA Anwomaso Power Plant began in December 2025, following extensive preparatory works and test runs.
The plant comprises three generation units, which were activated in phases to ensure system stability and smooth synchronization with the national grid.
The first unit was commissioned in late December, with the remaining units brought on stream sequentially after technical assessments were completed.
Construction of the facility commenced in March 2024 after AKSA signed a 20-year Power Purchase Agreement (PPA) with the Electricity Company of Ghana (ECG) for the 350MW power plant.
The inspection reaffirms the government’s commitment to expanding generation capacity, improving system reliability, and ensuring long-term energy security.
Addressing officials during the inspection, Dr. Jinapor described the grid connection as a major milestone in the government’s agenda to expand generation capacity and stabilize the country’s power system.
According to officials present, he noted that the successful grid integration represents a critical step toward strengthening Ghana’s electricity infrastructure.
Integration of the AKSA Anwomaso Power Plant began in December 2025, following extensive preparatory works and test runs.
The plant comprises three generation units, which were activated in phases to ensure system stability and smooth synchronization with the national grid.
The first unit was commissioned in late December, with the remaining units brought on stream sequentially after technical assessments were completed.
Construction of the facility commenced in March 2024 after AKSA signed a 20-year Power Purchase Agreement (PPA) with the Electricity Company of Ghana (ECG) for the 350MW power plant. US President Donald Trump Declares National Emergency To Secure Revenues From Venezuelan Oil Assets
United States President Donald Trump on Friday signed an executive order to protect U.S.-held funds derived from Venezuelan oil sales, the White House said, according to reports.
The order declares a national emergency aimed at safeguarding Venezuelan oil revenue held in U.S. Treasury accounts from attachment or judicial claims.
The fact sheet accompanying the order states that Trump’s decision is intended to use Venezuela’s vast oil reserves “to advance U.S. foreign policy objectives” and to prevent those funds from being seized by creditors or courts.
The action follows a meeting in Washington on Friday where Trump urged top oil executives to invest in Venezuela’s energy sector.
The reception was cautious, with the chief executive of ExxonMobil describing Venezuela as “uninvestable” without significant legal and commercial reforms.
Several major oil companies, including ExxonMobil and ConocoPhillips, left Venezuela in the 2000s after refusing terms that would have ceded majority control of assets to the state.
These firms have long-standing efforts to recoup billions in compensation for expropriated assets, and they have expressed concern about taking part in new ventures under current conditions.
Chevron is currently the only major U.S. firm still licensed to operate in Venezuela’s oil sector.
Trump’s executive order declares a national emergency “to safeguard Venezuelan oil revenue held in U.S. Treasury accounts from attachment or judicial process,” blocking any judgment, lien, garnishment, or other judicial action against these funds.
The move places the revenues under special protection to prevent them from being seized by courts or creditors.
“President Trump is preventing the seizure of Venezuelan oil revenue that could undermine critical U.S. efforts to ensure economic and political stability in Venezuela,” the White House said.
Venezuela, once a major crude supplier to the United States, has seen its oil production decline sharply due to years of underinvestment and sanctions, contributing only a small fraction of global oil output in recent years.
Trump has framed Venezuela’s oil assets as a strategic resource to help lower U.S. energy costs and strengthen U.S. influence in the region.
The executive order comes one week after U.S. forces carried out an operation in Venezuela that resulted in the capture of President Nicolás Maduro—a move that has drawn international attention and controversy.