NorthAmOil - North America Oil & Gas
US-controlled Venezuelan oil sales could top $10bn a year, Wright says
Wright said about $1bn in oil has already been sold, with contracts in place to market an additional $5bn in the coming months
Venezuela’s oil reset spurs cautious optimism under Washington’s watch
Any recovery, however, is set to advance slowly and on Washington’s terms. Analysts say the US is likely to oversee as much as 70% of Venezuela’s oil-related cash flow, closely tracking how revenues move through the economy
Venezuela bond prices signal uneven recovery ahead of restructuring
A report from Bank of America says the focus is shifting from the overall recovery value to how losses and gains are apportioned among bondholders, depending on legal terms, litigation risks and, above all, unpaid interest
Venezuela reclaims fifth spot among US crude suppliers
Shipments averaged 153,000 barrels per day (bpd), down 13% from the previous week but still sufficient to overtake rival suppliers and restore the country’s ranking among Washington’s key energy partners
Canadian minnow Condor Energies discovers previously missed natural gas reservoir at Uzbek legacy field
Canadian minnow Condor Energies (TSX: CDR) has discovered a previously missed natural gas reservoir at a legacy field in Uzbekistan.
Detention of US oil engineer heightens tensions over Venezuela energy revival
Romero, 86, was taken into custody on February 13 at Maracaibo airport as he prepared to fly to Caracas for meetings with international oil companies
Trump rejects claims of unauthorised US mediation in Venezuela oil talks
Writing on Truth Social, Trump said only individuals formally approved by the State Department can represent the US government, dismissing suggestions of unofficial mediation
PDVSA tightens oil sales as licensing uncertainty slows exports
The stance comes despite Washington issuing a broad authorisation in January to allow oil exports, alongside specific permits for traders including Trafigura and Vitol
Venezuela property market stirs as post-Maduro optimism lifts prices
Across oil-producing regions, coastal cities and tourist hubs, agents report price increases of between 20% and 50%
US shifts Venezuelan oil proceeds from Qatar to Treasury account
The change follows Washington’s decision to take control of Venezuela’s oil exports after the capture of former president Nicolás Maduro in a US-led military operation last month
Venezuela creates twin funds to channel oil revenue
According to a statement from the Presidential Press Office, the revenues will be split between two dedicated financial vehicles with distinct mandates
Chevron could lift Venezuelan output to 300,000 barrels a day, US energy chief says
Wright made the remarks after visiting oil fields operated by the company in the country, pointing to the Orinoco Oil Belt as central to any production increase
US energy chief unveils $100mn plus Chevron investment
Wright said the investment is intended to double output within 12 to 18 months and increase it fivefold over the next five years, as Washington seeks to accelerate a recovery in the country’s energy sector
Oil majors in talks with Venezuela over recovery of expropriated assets
The discussions mark a potential shift in relations between Caracas and foreign producers that suffered billions of dollars in losses
Valero plans Venezuelan crude imports in March
The move would make Valero one of the first refiners to restart purchases following the consolidation of a $2bn supply agreement between the US government and Venezuela’s interim administration
US forces board Venezuela-linked tanker in Indian Ocean
The vessel, the Veronica III, was operating under a Panamanian flag, according to the US Treasury Department, and was intercepted after a long-distance pursuit
US refiners get boost as Venezuelan heavy crude re-enters market
Sour crude differentials began to widen in mid-2025 and stayed elevated through the fourth quarter as supplies expanded, including from OPEC+ producers, the company said
Venezuela denies report of crude shipment to Israel
The statement was intended to rebut claims that Caracas had resumed oil sales to Israel after a halt that has been in place since mid-2020
TotalEnergies rules Out Venezuela return despite Trump push for oil investment
The French producer exited Venezuela in 2022 and sees no change in the strategic factors that drove that decision
BP seeks US approval to revive cross-border gas project with Venezuela
Interim Chief Executive Officer Carol Howle said the company is focused on securing the licence required to unlock the resource
Russia seeks US clarification on Venezuela oil curbs excluding Moscow and Beijing
Russia said it will press the US for clarification after Washington introduced new restrictions on Venezuela’s oil industry that exclude Russian and Chinese participation, a move the Kremlin described as “blatant discrimination”
Rodríguez hints at future US trip after energy talks in Caracas
Venezuela’s interim president Delcy Rodríguez said she expects to travel to the United States at some point following talks in Caracas with US Energy Secretary Chris Wright
Gold Reserve taps Cantor Fitzgerald for capital raise ahead of Venezuela return
The miner previously ran the Brisas gold mine until the asset was taken over by the Venezuelan state in 2009
US signals openness to China deals in Venezuela
The US is prepared to accept deals involving “legitimate” Chinese companies in Venezuela, even as it seeks to prevent arrangements Washington views as damaging
Venezuelan crude cargoes signal possible return to European refineries
Three cargoes of Venezuelan crude are crossing the Atlantic and indicating destinations in Italy and Spain
North Macedonia to import US LNG under new reciprocal trade framework with Washington
North Macedonia will begin purchasing US liquefied natural gas once the new gas interconnector with Greece is completed.
Saudi Aramco signs 20-year purchase agreement with Commonwealth LNG
Saudi Aramco has inked a long-term sales and purchase agreement with Commonwealth LNG.
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