NorthAmOil - North America Oil & Gas
Chevron’s Venezuela comeback faces political headwinds and market risks
Chevron has restarted its operations in Venezuela amid persistent political tensions between Washington and Caracas, raising concerns over the long-term stability of the US major’s Venezuelan projects
IEA warns that output at existing oil and gas fields is falling faster than expected
Analysis of thousands of reservoirs shows that many of the largest conventional fields have already peaked, while unconventional sources such as shale need constant drilling to maintain production.
Panama Canal plans $8bn gas pipeline to link Atlantic and Pacific by 2027
The Panama Canal Authority is advancing discussions on a multi-billion-dollar gas pipeline across the isthmus, a project it expects to begin constructing in 2027 as part of its broader 2025–2035 strategic plan.
Delaware court opens Venezuela’s Citgo sale battle as creditors vie for control
A high-stakes auction over shares in Citgo Petroleum’s US parent company, owned by Venezuela, began in a Delaware courtroom, setting the stage for a contentious showdown between creditors and potential buyers
Indonesia reviews US fuel imports as domestic shortages persist
Indonesia’s Trade Minister, Budi Santoso, has confirmed that plans to import petroleum products from the United States remain under inter-ministerial review
Delaware court upholds Amber Energy bid in Citgo sale dispute
A Delaware court rejected Canadian miner Gold Reserve’s attempt to block Amber Energy, an Elliott Investment Management subsidiary, from proceeding with its bid for the parent company of Venezuelan-owned refiner Citgo Petroleum
Baker Hughes to supply liquefaction equipment for Rio Grande LNG plant in Texas
US energy technology firm Baker Hughes has been selected by engineering company Bechtel Energy to supply liquefaction equipment for NextDecade’s Rio Grande LNG plant.
Monkey Island LNG inks deal with McDermott and offtake MoU
Louisiana-based Monkey Island LNG has signed a deal with McDermott to provide front-end engineering and planning services.
ExxonMobil expects EU to shift from LNG spot market to long-term deals
Bloc’s pledge to buy $750bn of US energy exports paves the way for multi-decade LNG deals to be signed.
Citgo auction hinges on US court ruling over PDVSA 2020 bond
The long-running auction of Citgo Petroleum, the US-based refining arm of Venezuela’s PDVSA, has entered a decisive stage with a sharp split emerging among creditors
Maduro accuses US of using military deployment to seize Venezuela’s resources
According to Maduro, the United States is eyeing control of oil and gas reserves located in the Caribbean basin, alongside gold deposits, fertile farmland and water resources
JERA joins in on Alaskan LNG action
JERA has signed a non-binding deal to buy 1mn tpy of LNG from the planned $44bn Alaska LNG project, giving the long-delayed venture new momentum.
Cenovus to sell WRB Refining interest to Phillips 66 for $1.4bn
Cenovus Energy announced on September 9 that it had agreed to sell its 50% interest in the WRB Refining to its existing partner in the joint venture, Phillips 66.
Strathcona sweetens MEG offer in effort to outbid Cenovus
Strathcona Resources announced on September 8 that it was amending its takeover offer for MEG Energy.
US LNG gathers even more momentum
Various US LNG projects are making progress, led by a final investment decision on Rio Grande LNG Train 4.
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