Pakistan's top oil refiners see profits surge more than 1,860%
Pakistan's four largest listed oil refineries saw their combined profits soar by more than 1,860 per cent in the quarter ending September 2026,...
The White House has instructed U.S. military forces to concentrate largely on enforcing a “quarantine” on Venezuelan oil exports for at least the next two months, a U.S. official told Reuters, signalling that Washington is prioritising economic pressure over direct military action against Caracas.
Speaking anonymously on Wednesday, the official said military options remain on the table, but the immediate focus is on tightening sanctions to achieve the White House’s objectives.
Although President Donald Trump has been deliberately vague in public about his goals for Venezuela, Reuters has reported that he has privately urged President Nicolás Maduro to leave the country. Trump said on Monday that it would be wise for Maduro to step down.
According to the official, the measures already in place have placed significant strain on Maduro’s government, with the expectation that Venezuela could face a severe economic crisis by late January unless it agrees to major concessions to the United States.
Trump has accused Venezuela of fuelling drug trafficking into the U.S., and his administration has for months been targeting vessels originating from South America that it claims were carrying narcotics. These actions have been widely criticised by several countries as extrajudicial.
The president has also repeatedly threatened to strike drug infrastructure on land and has authorised covert CIA operations aimed at Caracas.
So far this month, the U.S. Coast Guard has seized two oil tankers in the Caribbean, both carrying Venezuelan crude. The remarks from the White House official followed a Reuters report that the Coast Guard was awaiting reinforcements to attempt a third seizure of an empty sanctioned vessel, the Bella-1, after an initial effort on Sunday failed.
Venezuela’s ambassador to the United Nations, Samuel Moncada, responded on Tuesday by saying: “The threat is not Venezuela. The threat is the U.S. government.”
The official did not clarify what it meant in practice for the military to focus “almost exclusively” on interdicting Venezuelan oil, noting that most U.S. military operations worldwide are unrelated to maritime enforcement.
Nonetheless, the Pentagon has built up a substantial military presence in the Caribbean, deploying more than 15,000 troops, including an aircraft carrier, 11 additional warships and over a dozen F-35 fighter jets. While some of these assets can support sanctions enforcement, others are not well suited to such missions.
On Tuesday, the United States told the United Nations it would impose and enforce sanctions “to the maximum extent” to deny Maduro access to resources.
Earlier this month, Trump ordered a “blockade” of sanctioned oil tankers entering and leaving Venezuela. However, the White House official’s use of the term “quarantine” appears to echo language from the 1962 Cuban missile crisis, when President John F. Kennedy’s administration avoided the word “blockade” to prevent escalation. As former defence secretary Robert McNamara later explained: “We called it a quarantine because blockade is a word of war.”
Iranian Supreme Leader Ayatollah Khamenei has ordered Iran's armed forces to respond to any threat immediately and without geographical limits in statements posted to social media platforms on Saturday (31 October).
Gen Z protests swept 34 German cities on Saturday (31 October) over education and living costs. Violence erupted in Frankfurt, where shops were looted and police reported Molotov cocktail attacks.
A six-day humanitarian ceasefire in the Russian-held Ukrainian town of Oleshky ended on Sunday, 1 November, after facilitating aid deliveries and civilian evacuations.
Thousands protested in Albania's capital, Tirana, on Saturday (31 October), demanding Prime Minister Edi Rama's resignation over perceived corruption allegations and dissatisfaction with the government over a lack of jobs and poor education standards.
Saudi Aramco's acquisition of a 49 per cent stake in artificial intelligence (AI) company HUMAIN is putting a spotlight on a wider investment question: why are some of the world's biggest energy companies moving deeper into AI, and what do they expect to gain?
ADIPEC 2026, the world's largest energy event, opened in the UAE capital on Monday, bringing governments and energy companies together at a time of heavy pressure on global supply.
The U.S. administration has reportedly proposed restarting Russian gas supplies to Europe through Ukraine as part of efforts to secure an energy ceasefire ahead of winter.
Israeli forces have withdrawn from the entire city of Hebron in the southern West Bank after a 10-day military operation that displaced thousands of Palestinians and left homes demolished, infrastructure damaged and businesses disrupted, according to the city's governor.
The United Nations is ending its 35-year peacekeeping mission in Western Sahara after the Security Council failed to agree on renewing its mandate, UN Secretary-General António Guterres announced on Sunday.
Kimi Antonelli became Formula One's youngest world champion at 20 years and 68 days old on Sunday when he finished third for Mercedes in a red-flagged and restarted Mexico City Grand Prix won by Red Bull's Max Verstappen.
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