NorthAmOil - North America Oil & Gas
UAE withdraws from OPEC following years of frustration
The UAE will officially leave the OPEC alliance in May, driven by mounting frustrations over production quotas that constrained its expanded capacity.
Venezuela’s hydrocarbons reform seen as first step, with key gaps still to fill
Venezuela’s newly approved Hydrocarbons Law is being viewed by analysts as an initial move toward creating a more appealing framework for investors
Chevron sees progress in Venezuela oil reforms but warns more needed
Mike Wirth said the shift “moves things in a positive direction,” but added it is “probably not enough to bring in the level of investment that would be desirable”
Venezuela moves to streamline oil permits
The initiative follows a meeting between Ecosocialism Minister Alfred Nazaret Ñáñez and Hydrocarbons Minister Paula Henao, where both sides agreed to coordinate efforts to manage environmental liabilities linked to hydrocarbon production
Venezuela debt outlook supported by oil gains as risks persist, Oxford Economics says
Emerging-market debt tied to oil exporters such as Venezuela is proving resilient amid turmoil in the Middle East, buoyed by stronger crude prices and a firmer US dollar, according to Oxford Economics
Amber Energy pledges $11bn Citgo investment pending US approval
Amber Energy has outlined plans to invest as much as $11bn in Citgo Petroleum, contingent on securing US authorisation to take control of the refiner, as the future of one of Venezuela’s most valuable overseas assets hangs in the balance
Repsol, Eni plan gradual gas output increase in Venezuela
Spain’s Repsol and Italy’s Eni are advancing plans to raise natural gas production at Venezuela’s Cardon IV field to 18.27mn cubic metres per day from about 580mn, as part of a broader push to expand the country’s energy output
Venezuela courts Barbados investment to bolster energy output
Venezuela’s acting president, Delcy Rodríguez, has invited Barbados to invest in the South American nation’s oil and gas sector, as part of a push to deepen regional energy integration and raise hydrocarbon production
Venezuela oil services firms reactivate idle rigs amid contract overhaul
Oilfield service providers are beginning to mobilise long-idled drilling equipment in Venezuela as a sweeping review of oil and gas contracts fuels expectations of renewed upstream activity following January’s reform of the hydrocarbons law
Golden Pass LNG ships first cargo to Belgium
Golden Pass LNG, the joint venture between QatarEnergy and ExxonMobil has shipped its first cargo.
Enbridge’s $4bn LNG pipeline gets federal approval
The Canadian government has given the greenlight to infrastructure firm Enbridge to expand an existing natural gas pipeline in British Columbia, national media agency CBC reported on April 24.
Market not willing to pay premium for low-cabon LNG Canadian producer says
Canada’s flagship LNG project says Ottawa’s stringent regulations are impacting competitiveness.
Venezuelan business group pushes for $800mn monthly FX support plan
Venezuela’s leading commerce association has called on the government to channel up to $800mn a month from oil revenues into the foreign exchange market
EIA expects US gas exports to grow almost 30% by 2027
The US Energy Information Administration (EIA) has forecast that US natural gas exports – consisting of LNG exports and pipeline gas shipments to Mexico – will continue to rise this year and in 2027.
New offshore player 1947 Oil & Gas enters US Gulf
A new oil and gas company, 1947 Oil & Gas, has entered the US Gulf of Mexico by agreeing to acquire Renaissance Offshore.
Canadian producers continue to prioritise shareholders over new investment
Canada’s producers have indicated that they will continue to prioritise shareholders ahead of any significant new investment.
Eni, Repsol secure Venezuela deal to launch gas exports by 2031
The deal allows the companies to more than double production at a field in the Gulf of Venezuela and export liquefied natural gas through a floating terminal
Follow us online