EconomyPublished: 30 October 2026 at 22:10

US oil firm finds no buyer for drilling project tied to expected Trump–Putin talks

South Texas oil producer Patriot Energy has spent weeks offering rights to a new drilling project, but no buyer has come forward. Its owner hopes the project will benefit from upcoming talks between US President Donald Trump and Russian President Vladimir Putin.

Patriot Energy, an oil production company based in South Texas, has been trying for several weeks to sell rights to a new drilling project, but no American company has so far agreed to buy them. Energy industry representatives and analysts told the newspaper The Washington Sun.

The company's owner is a former official of Donald Trump's administration. According to him, the project is located in a region that could benefit from the upcoming talks between US President Trump and Russian President Vladimir Putin.

The source gives no further details on the project's scale, its price, or why potential buyers are holding back. The timing and content of the talks are also not specified.

Comments

Choose a username (stays yours for good):

0/1500

Comments are automatically moderated. No hate, threats, personal data or spam.

Loading comments…

More in this category

Economy

Dienas Bizness Publisher Receives Recovery Fund Support for Digital Transformation

Latvian publisher Izdevniecība “Dienas bizness” has signed a contract with the Central Finance and Contracting Agency for Recovery Fund support to modernise its media processes. The project includes CRM systems, mobile and Smart TV apps, and expanded existing platforms.

Diena · 2 h ago

Economy

UK approves Sea Link subsea electricity cable project

The UK government on Friday approved the Sea Link subsea power grid project between the counties of Suffolk and Kent, capable of carrying 2 GW of electricity. Construction is expected to begin in early 2027.

Ukrainska Pravda · 3 h ago

Economy

US tech stocks slide as investors fear rising AI costs

US stocks extended their fall on Friday as investors grew more worried about the soaring cost of building out artificial intelligence infrastructure. Chipmaker Intel was hit hardest, with shares dropping by as much as 30%.

BBC World · 5 h ago