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Between US demands for its crude, tankers threatened with seizure, storage tanks at overflow risk and bewildered local authorities, the outlook for Venezuela's oil industry has never been murkier.In the country's key oil port at Maracaibo, on the northwestern border with Colombia, few tankers are waiting to either load or venture out into the Caribbean — where American ships including the USS Gerald Ford, the world's biggest aircraft carrier, are waiting."They have oil that is stuck in Venezuela; they can't move it because of our quarantine and because it's sanctioned," US Secretary of State Marco Rubio said on Wednesday."We are going to take between 30 and 50mn barrels of oil," he added. "We're going to sell it in the marketplace — at market rates, not at the discounts Venezuela was getting."What that means for Venezuela's oil prospects is anyone's guess, not least in the volatile political landscape after President Nicolas Maduro's seizure by US forces on narco-trafficking allegations.But Washington is definitely banking on long-term control, according to Energy Secretary Chris Wright."We're going to market the crude coming out of Venezuela, first this backed-up stored oil, and then indefinitely," Wright said on Wednesday.State-owned Petroleos de Venezuela (PDVSA) acknowledged Wednesday that it had entered "negotiations" to sell oil to the US, on what it said would be the same terms as for other foreign customers."The process... is based on strictly commercial transactions under terms that are legal, transparent and beneficial for both parties," it said.But the statement came as US forces seized two more tankers, after previously seizing two others after Maduro's capture.Most shipping firms are holding back, either waiting at Maracaibo or avoiding it, even as a few tankers try to get past the US cordon.Since Trump imposed a full oil embargo in 2019, Venezuela has relied largely on a "shadow fleet" to sell mainly to China, Russia and Iran, a prospect highly uncertain after the US incursion.One tanker anchored in the Maracaibo bay on Wednesday, the Nord Star, is owned by Corniola and operated by Krape Myrtle, both based in Hong Kong and targeted by US sanctions."The shadow fleet is still operating, it's risky but it's getting out," one industry source based in Maracaibo told AFP.But with most tankers blocked, storage tanks at Maracaibo are nearly filled to the brim, threatening devastating overflows even as derricks keep pumping to the south and east of the port's massive inland lake.One operator, requesting anonymity, said local authorities "are ordering partner firms to cut output while waiting for tankers that will take the oil".The partner firms, known as "co-enterprises", were created under former strongman leader Hugo Chavez to join forces with energy groups from China, Russia, Belarus and other allies.Venezuela produces around 1mn barrels per day, above the 350,000 barrels immediately after Trump imposed a full oil embargo in 2019, though that was eased in 2023 after Russia's invasion of Ukraine.But it remains far below potential for a country with the world's largest known oil reserves, and exploration suggests further huge fields could yet be found.Caracas used to pump 3.5mn barrels daily but creaking infrastructure and scant investment make a return to that level unlikely in the short term — unless Trump makes good on his pledge to get US energy groups back into the country soon.Experts said it is likely that Trump will call and end to the US sanctions and embargo once his goals are met.For David Smilde, a Latin America specialist at Tulane University in Louisiana, Venezuela has always wanted to sell oil to the US at market value, instead of "sanctioned oil at a big discount using ghost tankers".In that sense, US companies coming into Venezuela would be "actually quite desirable", he said.But if the the US "really takes this oil and then does what it wants and maybe uses it to pay itself for the cost of an ongoing military operation, and none of it goes back to Venezuela... that could cause a problem", he said. 

Supreme leader Ayatollah Ali Khamenei Saturday acknowledged the economic demands of protesters in Iran, where demonstrations have spread to more than two dozen cities, even as he warned there would be no quarter for “rioters”. The protests began last Sunday as an expression of discontent over high prices and economic stagnation, but have since expanded to include political demands.Iranian media have reported localised violence and vandalism in the west of the country in recent days. “During clashes in Malekshahi, Latif Karimi, a member of the IRGC, was killed while defending the country’s security,” Mehr news agency said. Malekshahi is a county of about 20,000 residents with a large Kurdish population, where “rioters attempted to enter a police station”, according to separate news agency Fars, which added that “two assailants were killed”. Mehr earlier reported a member of the Basij paramilitary force was also killed during another protest in western Iran after being “stabbed and shot” by “armed rioters”. The protests have affected, to varying degrees, at least 30 different cities, mostly medium-sized, according to an AFP tally based on official announcements and media reports. At least 12 people have been killed since Wednesday in clashes, including members of the security forces, according to a toll based on official reports. Speaking to worshippers gathered in Tehran for a religious holiday, Khamenei said the protesters’ economic demands in the sanctions-hit country were “just”. “The shopkeepers have protested against this situation and that is completely fair,” he added. But Khamenei nonetheless warned that while “authorities must have dialogue with protesters, it is useless to have dialogue with rioters. Those must be put in their place.”The first deaths were reported on Thursday as demonstrators clashed with authorities. The Tasnim news agency, citing a local official, also reported a man was killed on Friday in the holy city of Qom, south of Tehran, when a grenade he was trying to use exploded “in his hands”. 

Qatar General Electricity and Water Corporation (Kahramaa) and Qatar Free Zones Authority (QFZ) have officially launched the Umm Al Houl 3 primary substation to supply Qatar Free Zones authority. The milestone underscores the ongoing partnership between both entities to advance national power infrastructure and enhance energy reliability across Qatar's free zones.The newly commissioned 132/11 kV substation, with a total capacity of 80 MVA, significantly enhances grid reliability and ensures a stable and efficient power supply to support the growing energy demands of both new and existing investors in sectors such as logistics, manufacturing, and emerging technologies.Located in Al Wakra area, it also supports Qatar's wider transmission network serving major industrial and service hubs.Developed under a Memorandum of Understanding (MoU) between QFZ and Kahramaa in 2021, the project underscores their ongoing collaboration to strengthen Qatar's investment environment through world-class, sustainable infrastructure that supports expanding business and logistics activities across the free zones.Umm Al Houl 3 Substation enhances the efficiency and stability of Qatar's electricity transmission network and expands capacity to meet future urban and industrial demand. Equipped with advanced digital systems for monitoring and control, as well as modern protection technologies, it strengthens grid reliability and reduces outages. The substation's design and operations follow the highest environmental standards, reducing carbon emissions and promoting sustainability in line with Kahramaa's future-ready vision.Director of Kahramaa's Technical Affairs Sector, Ahmed Nasser al-Naser, said: "The inauguration of Umm Al Houl 3 Substation embodies Kahramaa's strategic vision to lead the electricity and water sector through innovative projects that ensure service continuity and excellence. This facility supports the needs of Qatar's growing economic and service sectors and reflects our ongoing commitment to advancing sustainable infrastructure in line with the country's national development plans."Acting Chief Zones Development at QFZ, Abdulla al-Rewaily, commented: "The inauguration of the Umm Al Houl 3 Substation is a key milestone in the ongoing development of Umm Alhoul Free Zone as a strategic base for advanced industry and maritime operations. Robust, future-ready infrastructure remains central to QFZ's mission to create a globally competitive environment where businesses can grow, innovate, and connect. Our collaboration with Kahramaa reflects the strength of national partnerships in enabling sustainable growth and advancing the objectives of Qatar National Vision 2030."Qatar Free Zones Authority (QFZ) remains focused on expanding and modernising the infrastructure that underpins its dynamic industrial ecosystem. Through ongoing collaboration with leading national partners such as Kahramaa, QFZ continues to enhance the efficiency, reliability, and sustainability of the free zones' operating environment to meet the needs of existing and future investors.