Last mentioned: Mar 19, 2026
Russian Shipment Confirmed
First Russian tanker of the year prepares to offload crude to stabilize the thermoelectric grid.
Sanctions Eased
Trump administration announces relaxation of oil export restrictions on Venezuela.
Fuel Rationing
Cuban government implements strict fuel rationing for private vehicles and public transport.
First Gas Target
Projected date for the first commercial gas flows from Venezuelan waters to Trinidadian processing plants.
Iran Conflict Escalates
Outbreak of hostilities in the Middle East threatens global oil supply chains.
National Grid Collapse
Cuba suffers a total nationwide blackout lasting several days due to fuel shortages and plant failure.
Technical Surveys
Subsea imaging and pipeline route assessments begin for the Dragon-to-Hibiscus link.
Dragon Field Agreement
Venezuela signs a 30-year license with Shell and NGC for gas exploration and production.
OFAC License Issued
US Treasury grants license for Trinidad to develop gas with Venezuela.
Matanzas Fire
Lightning strike triggers massive fire at Cuba's main oil storage facility, destroying four tanks.
Sanctions Imposed
US imposes sweeping sanctions on PDVSA to pressure the Maduro regime.
Cuba is preparing for the arrival of its first Russian oil shipment of the year, providing a critical lifeline to its failing power grid. The delivery comes as the island nation faces its most severe energy shortage in decades, driven by infrastructure decay and dwindling supplies from traditional partners.
The Trump administration has announced a significant easing of oil sanctions on Venezuela, a strategic move designed to bolster global energy supplies during the ongoing war with Iran. This policy shift prioritizes domestic energy security and global market stability over previous regime-change objectives in Caracas.
Venezuela is increasingly pivoting toward its massive, untapped natural gas reserves, which hold the potential to rival its world-leading oil sector in strategic importance. With the seventh-largest gas reserves globally, the nation is seeking regional partnerships and sanctions relief to transform from an oil-dependent economy into a major regional gas exporter.