NorthAmOil - North America Oil & Gas
Venezuela pitches new crude law to lure private investment, potential oil investors want more control
Venezuela’s interim president Delcy Rodríguez moved to court oil companies by unveiling a revamped Hydrocarbons Law designed to attract private capital and accelerate crude exports.
Greenland crisis heightens concerns about Europe’s heavy reliance on US energy
In some quarters, the US has met more than 60% of Europe’s demand for LNG.
US’ Western Midstream announces renegotiated Occidental deal, new ConocoPhillips agreement
Western Midstream Partners has renegotiated its natural gas-gathering and processing contracts with Occidental Petroleum in the Permian Basin’s Delaware sub-basin, while also entering into new agreements with ConocoPhillips.
Cenovus reportedly considering sale of Alberta conventional assets
Canada’s Cenovus Energy is reportedly considering a sale of conventional oil and gas assets in Alberta’s Deep Basin.
Mitsubishi to enter US' Haynesville shale with Aethon acquisition
Mitsubishi is buying US shale gas assets from Aethon Energy Management for $5.2bn
Argent LNG signs strategic agreement with contractor Maire Tecnimont
Argent LNG has signed a term sheet with Italian firm Maire Tecnimont to secure its support in developing the 25mn tonnes per year LNG facility located in Port Fourchon, Louisiana.
Venezuelan crude re-emerges in Caribbean as US reshapes oil trade
Ship-tracking data show that two vessels unloaded about 2.5mn barrels of Merey crude over a recent weekend into storage facilities in Saint Lucia and Curaçao, which are being used as transit hubs for onward sales
Fitch warns Venezuela oil revival faces long road despite sanctions relief
The ratings agency said that even with the sale of stored crude and a potential easing of sanctions, production would struggle to rise much beyond 1mn barrels per day in the short term, with little impact on global supply
Lechería energy hub plan runs up against Venezuela’s infrastructure strains
The initiative, led by the mayor’s office in Urbaneja, draws on recent changes to the Hydrocarbons Law that open the door to greater private and overseas participation in the sector
Russia says US yet to free crew from seized tanker in Atlantic
The US has yet to release two Russian sailors detained after American forces seized a Russian-flagged oil tanker in the North Atlantic this month, Russia’s foreign minister said
Venezuela scraps fuel import taxes under Delcy Rodríguez decree
Venezuela’s government has waived value-added tax, import duties and customs regime fees on imports and domestic sales of hydrocarbon-derived fuels, extending relief to state-run, mixed-capital and private companies
US oil services firms eye entry to Venezuela
SLB, the world’s largest oilfield services firm, is in talks to expand its operations in Venezuela and is positioned to compete for early contracts under a plan by US President Donald Trump to revive the country’s oil sector.
Shell and Mitsubishi considering selling stakes in LNG Canada
Shell and Japan’s Mitsubishi are exploring options to unload parts of their stakes in LNG Canada.
Canada’s Woodfibre LNG receives two new modules
Woodfibre LNG has reached another key milestone with the arrival of two modules in Squamish, British Columbia.
Hanwha signs MOU to support Newfoundland LNG project
South Korea’s Hanwha Group has inked a Memorandum of Understanding with Canada’s Fermeuse Energy to jointly advance the Newfoundland and Labrador LNG project.
Venezuela signs first-ever LPG export contract under interim government
Interim president Delcy Rodríguez announced the agreement during an event broadcast on state television
India’s MRPL weighs Venezuelan crude as Russian oil imports halt
The company is no longer processing Russian barrels and is reviewing alternative sources that meet both regulatory and commercial requirements
Oil majors seek more control as Venezuela weighs energy revival
International oil companies are urging swift action from Washington and Caracas to restart Venezuela’s oil industry, making clear that any new investment hinges on greater control over the barrels they produce
Syria to attract US oil investment, including Chevron
The Syrian Petroleum Company (SPC) announced that new US oil companies are preparing to invest in Syria’s oil sector, including Chevron.
Venezuela pitches new hydrocarbons law to lure private oil investment
Rodríguez said energy cooperation with Washington would rest on “decency, dignity, and independence,” pledging that revenues generated under the new framework would be channelled back to Venezuelans
Enverus sees slow rebound for Venezuela oil output despite vast reserves
Venezuela’s oil production is expected to recover only gradually in the years ahead, even after the capture of long-time leader Nicolás Maduro, according to industry consultancy Enverus
Halliburton signals swift return to Venezuela as oil services firms eye early entry
Chief Executive Officer Jeff Miller said the company can act faster than oil producers because its business model avoids the heavy, long-term capital commitments typically required before returns materialise
CIA chief meets Venezuela’s interim leader as Caracas signals shift on oil policy
The discussions focused on improving communication and explored potential economic cooperation, with Washington stressing that “Venezuela can no longer be a safe haven for US adversaries"
US seizes tanker linked to Venezuelan oil trade in latest Caribbean interdiction
The ship, formerly known as the Veronica, was boarded and seized in the Caribbean Sea, the Coast Guard said in a social media post that included footage of US personnel descending from a helicopter onto the deck
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