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The publication continues to provide weekly coverage of upstream, midstream and downstream news, spanning shale oil and gas, LNG, oil sands, transport by pipeline and rail, company performance and regional energy policy – on both national and state or provincial levels. NorthAmOil provides regular updates on the status of major proposed projects in both the US and Canada. The publication also looks at more distant prospects, such as offshore Arctic drilling.
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US-backed firm to displace Chinese and Russian oil operators in Venezuela
A US-backed energy company is set to assume control of Venezuelan oil projects that have been run by Chinese and Russian interests
Trump signals Exxon return to Venezuela as oil industry reopens to foreign firms
ExxonMobil may be preparing to re-enter Venezuela, nearly 20 years after leaving the country, as the Trump administration pushes to revive its oil industry and bring international energy companies back
India boosts Venezuelan oil imports to highest level since 2020
India sharply increased purchases of Venezuelan crude in August, taking shipments from the South American producer to their highest level since 2020 as refiners responded to the easing of US sanctions
Chevron plans Venezuela expansion as Trump pushes new oil deal
Chevron is preparing to expand its operations in Venezuela, according to a US official, as President Donald Trump accelerates efforts to bring American companies back into the country’s oil industry
Trump says Venezuela will decide whether to remain in OPEC
US President Donald Trump said Venezuela’s future in OPEC will be determined by Caracas, leaving open the possibility that the country could reconsider its membership after Washington secured a major role in the nation’s oil industry
Venezuela Communist Party rejects US oil pact, calls it ‘savage plunder’
Venezuela’s Communist Party rejected a 25-year oil agreement between Caracas and Washington, accusing the government of transferring control over the country’s resources without public scrutiny or constitutional oversight
Machado casts Venezuela as energy ally as oil deal reshapes sector
Venezuelan opposition leader María Corina Machado said the country could become a major driver of energy and commercial growth across the Western Hemisphere
Eni backs Venezuela energy revival as US expands oil role
Eni SpA said it is engaging with Venezuelan authorities as the country prepares for a major reshaping of its energy industry, with the US seeking a larger share of control over crude production
Ted Cruz calls for Venezuela elections to advance alongside US oil deal
US Senator Ted Cruz called for free and democratic elections in Venezuela to move forward alongside a new oil agreement with Washington, arguing that economic cooperation should not delay the country’s political transition
China seeks protection for oil interests in Venezuela after US deal reports
China called on August 31 for its interests in Venezuela to be protected after reports suggested a landmark oil agreement between Caracas and Washington could alter control of fields operated by Chinese companies
US Energy Secretary Wright heads to Caracas as Venezuela oil deals accelerate
US Energy Secretary Chris Wright is scheduled to travel to Caracas as Washington moves to deepen its involvement in Venezuela’s oil industry, with a series of agreements expected to be unveiled during the visit
Sempra starts FERC process for Port Arthur LNG expansion
The proposed project would add four liquefaction trains – Trains 5-8 – with capacity of up to around 27mn tonnes per year.
Trump’s Venezuela oil deal puts Betancourt at centre of US energy push
The proposed arrangement would give the US an effective 55% share of production from the venture, while NABEP would manage operations
Trump’s Venezuela oil deal faces legal hurdles before $100bn investment
President Donald Trump’s sweeping oil agreement with Venezuela is facing questions over its legal foundation and ability to survive political changes, UBS said in a note.
Venezuela expects $209bn from 25-year US oil agreement, Rodríguez says
Venezuela expects to generate about $209bn from a 25-year oil agreement with the US, as the government seeks to expand crude production beyond 1.5mn barrels a day and attract investment into an industry battered by sanctions
Opposition leader warns Venezuela oil windfall must reach citizens, not ‘a few’
Edmundo González cautioned that the revenues expected from Venezuela’s new energy agreement with the US may fail to translate into broader economic gains for the population
Chevron, Eni and other energy firms near new Venezuela deals
Chevron, GE Vernova, India’s ONGC, Italy’s Eni and Colombia’s GeoPark are closing in on agreements that could deepen foreign involvement in Venezuela’s energy industry, following months of negotiations over oil, gas and power projects
Trump to meet US refiners as Venezuela deal targets $100bn oil investment
President Donald Trump is preparing to meet executives from major US refiners as Washington and Caracas advance a 25-year energy pact designed to channel as much as $100bn of private capital into Venezuela’s oil industry
US LNG feedgas demand hits highest level since April
Demand for natural gas to be used as feedstock at US LNG terminals reached its highest level on August 27 since April.
Creditors form committee to prepare for Venezuela debt restructuring
Companies with unpaid claims against Venezuela are forming a committee to coordinate their interests ahead of the country’s planned debt restructuring, according to the group’s legal and financial advisers
India’s ONGC plans $200mn Venezuela oilfield revival after US license
ONGC is betting $200mn on a sharp recovery in production from Venezuela’s San Cristobal oilfield, with a goal of eventually taking output back to levels last seen before sanctions and years of underinvestment
High gas prices prevent European traders from filling empty tanks
Europe has ten weeks to fill its gas tanks and a price curve that punishes anyone who tries.
Texas oil and gas employment drops in July
Oil and gas employment in the upstream sector in Texas declined by 1,200 jobs between June 2026 and July 2026.
Tallgrass announces open seasons for Pony Express, Seahorse pipeline capacity
US midstream player Tallgrass released separate announcements last week about open seasons on two of its pipelines.
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