NorthAmOil - North America Oil & Gas
Chevron ramps up Venezuelan crude flows to US
Chevron Corp. has sharply increased shipments of Venezuelan crude to the US, deploying its largest tanker fleet in nearly a year as Washington deepens its oversight of the country’s oil sector following the capture of Nicolás Maduro
Venezuela debt rally signals opening for historic restructuring after Maduro ouster
Venezuelan bonds, long treated by investors as a speculative bet on a deeply troubled economy, surged after a pre-dawn US operation in Caracas removed President Nicolás Maduro, reviving expectations of a sweeping debt overhaul
PetroChina steps back from Venezuelan crude as US takes control of exports
The move marks another pause in what was once a key supply relationship. Until early 2019, PetroChina was Venezuela’s largest single crude buyer, before US sanctions forced a halt to imports
Venezuela prepares to resume LPG exports under US-backed oil deal
Vitol and Trafigura were granted the first US licences earlier this month to handle cargoes tied to the roughly $2bn agreement, which seeks to draw down inventories that accumulated after the US imposed an oil blockade in December
Chevron signals willingness to support Venezuela oil reform talks
Chevron’s representative in Venezuela said the US oil producer is ready to keep contributing its operational experience as the country moves forward with plans to overhaul its hydrocarbons framework
US Chevron demands better terms to buy Lukoil’s Iraq oilfield
US oil major Chevron is pressing Iraq to improve the economic returns of the giant West Qurna 2 oilfield as a condition for acquiring the project from Russia’s Lukoil.
US gas price surge sends ripples across global LNG market
It highlights how weather events in North America now ripple quickly through global gas and LNG markets.
Venezuela courts oil majors as parliament weighs hydrocarbons law rewrite
Venezuela’s interim president Delcy Rodríguez met with executives from oil companies including Repsol, Chevron and Shell
US weighs broad sanctions licence to accelerate Venezuela oil revival
The move is intended to streamline approvals after a flood of licence requests from companies seeking to operate alongside state-owned PDVSA.
Venezuela oil law revamp falls short of capital needed for sector overhaul
Venezuela’s proposed overhaul of its hydrocarbons law is designed to ease the expansion of companies already operating in the country and draw in fresh investors
Baker Hughes sees Venezuela upside but ties expansion to legal clarity
Baker Hughes said Venezuela could become a meaningful source of revenue, though any scale-up would hinge on firm guarantees around security, workforce protection and a clearly defined legal and regulatory environment
Former presidential candidate warns Venezuela reset may stop at oil deal
Henrique Capriles Radonski has re-emerged as a key voice in Venezuelan politics after taking a seat in the new National Assembly following the removal of Nicolás Maduro
Delcy Rodríguez backs hydrocarbons law reform to drive growth for Venezuela
Venezuela’s proposed reform of its Organic Hydrocarbons Law will underpin economic growth while safeguarding state ownership of the country’s energy resources, acting president Delcy Rodríguez said
SLB signals Venezuela expansion as clients eye return
SLB is preparing to scale up activity in Venezuela and is fielding approaches from customers weighing a return to the country, according to comments from Chief Executive Officer Olivier Le Peuch
US policy shift clouds court-ordered sale of Venezuela-owned Citgo
Efforts by the United States to exert greater control over Venezuela’s oil sector are complicating the court-mandated auction of Citgo, the US refiner owned by the South American country’s state oil group
US naphtha deliveries mark early step in Venezuela’s heavy oil restart
US-sourced naphtha has begun arriving in Venezuelan waters, a concrete early move toward reviving the country’s long-impaired heavy crude production
US explores rapid oil revival plan for Venezuela with Chevron and service giants
The US is holding talks with Chevron Corp. and leading oilfield service providers on a pared-down strategy to lift Venezuelan crude output quickly, sidestepping the enormous capital required for a full industry overhaul
Venezuelan oil heads back to Europe as Trump administration pushes sales
Shipping data shows the tanker Poliegos sailing to load oil in Venezuela before heading to an Italian port, with Vitol Group listed as the cargo owner
First Venezuelan oil cargo sails directly to US under new supply arrangement
A tanker loaded with Venezuelan crude has departed directly for a Louisiana port, marking the inaugural shipment to reach the United States without Caribbean transfer under Washington's control of the South American nation's petroleum sales
US control of Venezuela oil risks debt clash with China
American oversight of Venezuelan petroleum exports has trapped oil cargoes Beijing was using to service debt, potentially creating a superpower confrontation that could complicate the South American nation's path out of default
Argentina ships first US-bound crude oil cargo via new Trafigura pipeline
A tanker carrying 71,000 cubic metres of crude oil from Argentina's Neuquén Basin has departed for the United States through a newly constructed pipeline,marking the first major export via infrastructure designed to unlock shipments from Vaca Muerta
Trump tightens grip on Venezuelan oil revenues as trading interest grows
The White House has established a dedicated fund to receive income from crude sales, with payments routed through US-controlled accounts and disbursed at the president’s discretion
US rules out troop protection for oil firms as Venezuela reopens to investment
The Trump administration does not intend to provide direct security for oil companies operating in Venezuela, Energy Secretary Chris Wright said, pushing back against speculation that US troops could be deployed to address safety concerns
Valero, Phillips 66 buy Venezuelan crude in first US refinery deals since Maduro ouster
Valero Energy Corp. has purchased a cargo of Venezuelan crude, marking one of the first transactions by US Gulf Coast refiners under Washington’s agreement with Caracas to allow exports of up to 50mn barrels
Venezuela’s vast oil reserves face scrutiny as investment interest grows
Venezuela’s assertion that it holds more than 300bn barrels of oil continues to be challenged by industry specialists, even as the figures underpin renewed interest from the White House and major oil producers
Trafigura makes first Venezuelan crude sale under US-backed supply deal
Trafigura has completed the sale of its first cargo of Venezuelan crude under a supply agreement that allows up to 50mn barrels to be exported following Nicolás Maduro’s capture
Venezuelan tankers surface near Puerto Rico following US seizures
The vessels — the supertanker M Sophia and the smaller Galileo — were spotted by witnesses and confirmed by data from Tankertrackers.com after weeks of uncertainty following their detention
IEA: Europe to import record supplies of LNG
The International Energy Agency projects that Europe will import a record level of LNG in 2026, the organization announced in its quarterly Gas Market Report.
Trump threatens 100% tariff on Canadian goods over China deal
Trump threatens 100% tariff on all Canadian imports if Canada allows China to use it as transit point for goods entering the United States, warning of economic consequences.
Venture Global wins arbitration case against Repsol
Venture Global’s beatdown stock soared 14% after the ruling.
Vitol taps onshore tanks to move Venezuelan crude as exports stall
Vitol Group has lifted its first cargo of Venezuelan oil directly from onshore storage, a step aimed at unclogging logistics and creating room for higher output after exports slumped
Trump uses Davos stage to hail Venezuela oil deal after Maduro capture
Donald Trump used his appearance at the World Economic Forum in Davos on January 21 to underscore a sharply transactional approach to global politics
Halliburton signals readiness to return to Venezuela as oil plans take shape
Chief executive officer Jeffrey Miller said oil and gas are critical for Venezuela, noting the US company has operated there since 1938, despite pulling out in 2019 after sanctions were imposed
Venezuela business group backs FX measures as oil cash returns to economy
Interim president Delcy Rodríguez said the country has already received $300mn from crude exports under a 50mn-barrel supply agreement with Washington
US sees scope for 30% lift in Venezuela oil output, US energy secretary tells executives
Venezuela’s oil production could rise by as much as 30% from current levels of about 900,000 barrels per day (bpd) over the short to medium term
US seizes seventh Venezuela-linked oil tanker in Caribbean sanctions drive
The vessel, identified as the Sagitta, was detained as part of Operation Southern Spear, the military said
Venezuela banks resume FX interventions after oil cash inflows from US trade
Venezuela’s banking sector restarted foreign-exchange interventions on January 20 after more than a month on hold, following the arrival of fresh hard-currency inflows linked to renewed oil trade with the US
Venezuela lawmakers advance hydrocarbons overhaul
Parliamentary speaker Jorge Rodríguez said the bill, promoted by acting president Delcy Rodríguez, is designed to speed up gains in production from the OPEC member
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