NorthAmOil - North America Oil & Gas

US refiners ramp up Venezuelan crude intake as global oil flows shift

Imports of Venezuela’s heavy crude — a key feedstock for complex Gulf Coast refineries — jumped sharply in early March, with volumes rising in a short span

Oil majors reassess Venezuela as price surge revives investment appeal

Once labelled “uninvestable” amid political turmoil, the country is being reconsidered due to its vast reserves

US weighs broader sanctions relief to unlock Venezuela oil output

The Trump administration is preparing additional measures to ease restrictions on Venezuela’s oil industry

PDVSA reappoints head of US units as Citgo control hangs in balance

The appointment remains largely symbolic for now. Asdrúbal Chávez cannot assume effective control without authorisation from the US Treasury’s Office of Foreign Assets Control

US eases Venezuela oil sanctions as Iran war drives crude prices higher

The Trump administration has issued a sweeping new sanctions licence allowing US companies to trade directly with Venezuela's state oil company, as surging crude prices driven by the conflict with Iran push Washington to hunt for new sources of crude

Japan’s JERA proposes LNG plant for Oahu as Tokyo grapples with energy strains

Japan’s largest power generation company has set out plans to develop a liquefied natural gas-fired plant on Oahu, positioning the project as a lower-cost alternative to oil-based generation.

Japan eyes Alaska oil tie-up as supply risks mount

Japan is preparing to use a forthcoming summit in the US to advance co-operation on crude production in Alaska, as Tokyo seeks to shore up energy security against mounting disruption linked to the conflict in Iran.

CIA advice and oil strategy shape Venezuela’s post-Maduro transition

In the lead-up to the US operation that resulted in the capture of Venezuelan president Nicolás Maduro, intelligence officials sought guidance from former Chevron executive Ali Moshiri on potential leadership scenarios in Caracas

Venezuela channels $300mn oil windfall to social protection programmes

Venezuela’s interim president, Delcy Rodríguez, said that the government had received $300mn in fresh revenues earmarked for a Social Protection Fund, derived from an extraordinary fuel-oil sale

Eni sees path for Venezuelan gas exports as sanctions ease

Italian energy group Eni SpA is exploring renewed prospects for Venezuelan gas exports, signalling a gradual re-entry of the Caribbean nation into global energy markets under a US-backed interim administration

Mexico-based Pemex's Deer Park refinery logs second straight annual loss despite operational rebound

Venture Global’s Plaquemines LNG plant in Louisiana gets approval to raise exports

Venture Global’s Plaquemines LNG has been granted authorization by US Secretary of Energy Chris Wright to increase exports by 13%.

Middle East conflict spurs LNG Canada to increase exports

Shell-operated LNG has stepped up production and cargoes exports as buyers in Asia scramble for supply in the midst of the conflict in the Middle East.

Venture Global takes FID on Phase 2 of CP2 plant in Louisiana

Company has raised $8.6bn in project financing for the expansion.

Venezuela’s oil revival hinges on winning back skilled diaspora

Venezuela’s push to restore its once-dominant oil industry is increasingly tied not only to securing fresh capital but also to persuading thousands of specialised workers who left during years of political turmoil and economic hardship to return

Venezuela signs gas supply deal with Repsol and Eni

The deal focuses on operations at Cardón IV, one of Latin America’s largest natural gas fields, which currently produces about 16.42mn cubic metres of gas per day

Asia and Europe to battle over dwindling LNG cargoes

Asian and European energy buyers are competing to secure increasingly scarce LNG cargoes after conflict in the Middle East disrupted shipments through the Strait of Hormuz, the Financial Times reported on March 12.

US considers temporary waiver of Jones Act to ease fuel price surge

The Trump administration is considering a temporary suspension of the century-old Jones Act as it seeks to curb sharply rising fuel prices triggered by the war in Iran, according to people familiar with the matter.

US prepares offshore transfer of seized Venezuelan crude near Texas

Authorities moved last month to claim ownership of the tanker Skipper and roughly 1.8mn barrels of oil on board after the vessel was intercepted in December

Venezuela’s Rodríguez appoints hydrocarbons minister

Paula Henao, previously vice minister of petroleum, takes over a portfolio Rodríguez herself had overseen since August 2024

Venezuela oil output tops 1mn barrels as recovery momentum builds

The increase pushed output back above the symbolic 1mn-barrel threshold, widely viewed as a key milestone in the country’s efforts to restore its energy industry after years of contraction

US LNG exporters to benefit from Middle East disruptions, but not to replace lost supply

US LNG producers stand to benefit from disruption in the Middle East but cannot immediately replace lost supply.

Trump announces first US refinery to be built in 50 years

US President Donald Trump announced this week that America First Refining would build the US’ first new oil refinery in 50 years, with India’s Reliance Industries Ltd (RIL) providing financial backing.

CNRL defers early spending on Jackpine oil sands mine expansion

Canadian Natural Resources Ltd has said that it will defer plans for CAD150mn ($110mn) worth of spending related to front-end engineering and design work on its Jackpine oil sands mine expansion project

Oil price tops $100 a barrel - again

Brent crude rose almost 9% in early Asian trading, surpassing $100 a barrel, despite the International Energy Agency (IEA) announcing late on March 11 that all 32 member countries would release up to 400mn barrels of oil.