NorthAmOil - North America Oil & Gas
Shell starts third Silvertip phase at Perdido in US Gulf
Shell has begun producing from the third phase of its Silvertip project in the US Gulf of Mexico, tying two new wells back to the Perdido spar it operates.
Ozona, Marubeni sanction carbon storage project in Texas
US carbon storage developer Ozona CCS and Japanese trading house Marubeni (TSE: 8002) have taken a final investment decision (FID) on the Pawnee Carbon Sequestration Project in Bee County, Texas.
Trump revives idea of Venezuela becoming 51st US state amid oil deal
Donald Trump revived his proposal to make Venezuela the 51st US state, suggesting the South American country could eventually elect a governor instead of a president as Washington expands its access to Venezuelan oil
Howard Energy to buy Iron Horse Midstream from Sixth Street
San Antonio-based Howard Energy Partners (HEP) has signed a definitive agreement to buy Oklahoma gas gatherer and processor Iron Horse Midstream from investment firm Sixth Street.
Trump showcases Venezuelan crude as he courts Texas voters
With fuel prices threatening Republican prospects ahead of the November 3 legislative elections, Trump made stops in Corpus Christi and Lubbock to showcase the administration’s efforts to increase oil access and reduce production costs
Venezuela’s Rodríguez criticises Russia’s exclusion from global gas trade
Venezuelan interim President Delcy Rodríguez criticised efforts to restrict Russia’s role in international gas markets, arguing that excluding major producers raises costs for consumers and undermines cooperation across the energy industry
First NABEP Venezuelan oil shipment arrives in Texas for US refiners
The first shipment of Venezuelan crude under an agreement between Washington and North American Blue Energy Partners (NABEP) reached Texas on October 27, with the US government set to sell the oil to refineries operated by ExxonMobil and Citgo
Ovintiv to acquire Logan Energy in Montney move
Ovintiv has struck a deal to acquire all of the outstanding shares of Canada’s Logan Energy.
TotalEnergies enters 26 Chevron-operated offshore leases in US Gulf
France’s TotalEnergies has acquired a 25% working interest in 26 offshore exploration leases in the US Gulf of Mexico that are operated by Chevron.
EQT to buy Range, creating US shale gas giant
EQT is buying Range Resources in an all-stock deal valued at around $13bn.
Russia says US is in talks to use its LNG technology in Alaska
The US is in active talks to use Russian technology for an LNG plant in Alaska, Kremlin deputy chief of staff Maxim Oreshkin said on October 28.
Trump says Venezuela sent 1mn barrels of oil as a ‘gift’
US President Donald Trump said Venezuela had sent a tanker carrying 1mn barrels of crude oil as a “gift,” as his administration moves to expand American control over the country’s petroleum resources
US appeals court upholds defaulted PDVSA bonds, increasing pressure on Citgo
A US appeals court upheld the validity of Venezuela’s defaulted 2020 oil bonds, strengthening creditors’ claims tied to Citgo Petroleum and potentially increasing pressure on the US-based refiner
Eni eyes year-end approval for Venezuelan oil project targeting 1mn bpd
Eni SpA is moving towards a final investment decision by the end of 2026 on the first phase of a Venezuelan heavy-oil development that could eventually produce 1mn barrels per day
Venezuelan firms install first locally made oil pumping unit
Alvorada Oil & Gas and Dinatel Group have introduced Venezuela’s first domestically manufactured oil pumping unit
Sulzer signs five-year strategic alliance with Venezuela’s PDVSA
Sulzer AG has signed a five-year strategic agreement with Venezuela’s state oil company PDVSA, creating a framework for potential orders across the producer’s operations as the country seeks investment to expand and modernise its energy industry
Putin says Russia ready to extend billions in Venezuela energy investment
Russia is prepared to continue investing in Venezuela’s energy industry, where Russian companies have already committed billions of dollars, President Vladimir Putin said at a gas-exporting nations summit in Moscow
NABEP lifts Venezuela oil output as it prepares to double active rigs
North American Blue Energy Partners has increased oil production in Venezuela by about 20,000 barrels per day (bpd) since August and plans to double the number of active rigs in its projects
Machado’s homecoming adds pressure on US-backed talks in Venezuela
Venezuelan opposition leader María Corina Machado is willing to meet interim President Delcy Rodríguez, her party’s spokeswoman said, as her return after 10 months in exile adds pressure to negotiations over the country’s political future.
US LNG exports swing towards Europe as Asian deliveries fall in August
US LNG exports shifted sharply towards Europe in August, with deliveries to the region climbing by 34% month on month while shipments to Asia fell by 21%, according to new government data.
China’s Huayou acquires Ghana lithium project rights, assumes $66mn funding commitment
Chinese mining group takes over Elevra Lithium’s interests in Ewoyaa, while its separate $210mn takeover of Atlantic Lithium awaits final approvals.
Canada’s Woodfibre LNG reaches 75% complete, targets mid-2027
Canada’s Woodfibre LNG is nearing completion with the project 75% finished construction.
Canada’s Ksi Lisims and Germany’s SEFE finalise 20-year LNG deal
Germany’s Securing Energy for Europe and Canada’s Ksi Lisims LNG project have finalised their 20-year LNG supply deal.
Canada and Turkey announce strengthening of LNG ties
Canada and Turkey have inked a joint statement to strengthen cooperation in LNG.
Pakistan seeks US investment in refineries, LNG supply
Pakistan has invited US financial institutions to invest in its refinery upgrade programme, while signalling interest in expanding cooperation on liquefied natural gas (LNG) supplies.
QatarEnergy turns to US LNG as disruption threatens long-term supply
QatarEnergy is searching for LNG supply to plug supply gaps in both the short-term and long-term.
India's Jamnagar refinery becomes key to US diesel supply
Washington is turning to India's Jamnagar refinery to process heavy Venezuelan crude and add diesel to global markets as US fuel prices rise ahead of mid-term elections.
Sheinbaum backs stalled $3.5bn Mexico Pacific LNG terminal
Mexican President Claudia Sheinbaum has backed a $3.5bn liquefied natural gas (LNG) export terminal on the country's Pacific coast that environmental groups have stalled in the courts.
TechnipFMC signs MoU with BP for 20K subsea systems in Gulf of Mexico
TechnipFMC (NYSE: FTI) has signed a memorandum of understanding (MoU) with BP Exploration & Production Inc.
Citgo raises 2026 profit outlook to as much as $8bn on refining boom
Citgo Petroleum has increased its 2026 earnings forecast by nearly $2bn as strong fuel margins boost the profitability of the Venezuelan-owned refiner’s US operations
Oilfield service firms expand hiring as Venezuela’s recovery gathers pace
International oilfield service companies are recruiting workers and preparing equipment for Venezuela, signalling early progress in a US-backed effort to revive the country’s oil industry.
Trump’s Venezuela oil pact gives US broad control with few guarantees for Caracas
A deal between the Trump administration and Venezuelan oil businessman Alejandro Betancourt gives Washington a 35% stake in North American Blue Energy Partners (NABEP) and extensive rights over its production
US refiner Valero posts $6.8bn quarterly profit
Valero Energy Corporation (NYSE: VLO) earned $6.8bn attributable to stockholders in the third quarter of 2026, or $23.89 per share, the Texas-listed refiner announced on October 21.
Martin Midstream posts third-quarter loss, revises guidance
Martin Midstream Partners (Nasdaq: MMLP) raised its full-year 2026 adjusted EBITDA guidance to $94mn after third-quarter earnings beat its internal forecast, the partnership said on October 21.
India set to receive 13.6mn barrels of Venezuelan oil in October
India is poised to receive 13.6mn barrels of Venezuelan crude in October, including cargoes still at sea, signalling a recovery in a trade that contracted sharply in recent years, according to a statement from S&P Global Energy
TechnipFMC, BP sign 20K subsea equipment deal for US Gulf projects
TechnipFMC (NYSE: FTI) has signed a memorandum of understanding with BP Exploration & Production Inc., a unit of BP p.l.c.
Venezuela’s terms of trade seen improving 23% in 2026, ECLAC says
The outlook reflects higher international prices for hydrocarbons and other raw materials, which are expected to increase Venezuela’s purchasing power in foreign markets and lift income generated through international trade
Kalypso, Offshore Data Center partner to monetise offshore gas for AI infrastructure
Kalypso Offshore Energy and Offshore Data Center plan to place AI computing facilities beside offshore natural gas resources, including on ageing platforms marked for removal, the two US companies announced on October 19.
Halliburton profit slips to $417mn amid US industry disruption
Halliburton (NYSE: HAL) reported net income attributable to the company of $417mn, or $0.50 per diluted share, for the third quarter of 2026, down from $534mn, or $0.64, in the second quarter, the US oilfield services company...
Saturn to acquire Corex as Canada’s M&A wave continues
Canada’s Saturn Oil & Gas announced this week that it had agreed to acquire privately held Corex Resources.
Chevron confirms start of process to explore sale of older Gulf assets
Supermajor Chevron confirmed to media this week that it was exploring a potential sale of some of its older assets in the US Gulf of Mexico.
Albertans reject proposal for separation from Canada in referendum
A majority of Albertans voted to remain part of Canada in this week’s referendum, rejecting a proposal to hold a legally binding vote on separation.
South Korea faces cost risk on Alaska LNG project
A liquefied natural gas project in Alaska that Washington wants South Korea to help fund could cost far more than its developer projects.
Follow us online