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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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Greenland and Denmark reject US envoy appointment as threat to territorial integrity
Denmark PM Frederiksen and Greenland Premier Nielsen reject US envoy appointment demanding respect for territorial integrity as Trump ally status creates difficult situation for Copenhagen.
PDVSA restarts loading as US blockade threat keeps Venezuela exports stalled
Crude shipments have dropped sharply from the more than 900,000 barrels a day exported in November, following last week’s US seizure of a sanctioned tanker
Venezuela’s defence minister slams US Caribbean presence, warns of energy risks
Padrino said the region remains open to cooperation, trade and free navigation, rejecting the idea that it is closed to US interests.
US oil quarantine puts Venezuela’s sanctions-evasion network at risk
The administration’s partial embargo focuses on tankers already sanctioned by the US Treasury, threatening a system officials say funds Nicolás Maduro and supports the country’s fragile economy
Trump tests oil industry appetite for a post-Maduro Venezuela
The Trump administration has discreetly approached US oil companies to gauge whether they would consider re-entering Venezuela in a post-Nicolás Maduro era
US blockade puts Russian naphtha shipments to Venezuela at risk
Russian exports of naphtha to Venezuela are coming under strain after US President Donald Trump ordered a blockade of sanctioned tankers entering or leaving the country
Chevron’s Venezuela deal faces scrutiny as sanctioned trader benefits
Internal data from PDVSA showed that an oil trading firm tied to a sanctioned Panamanian businessman has sold all of the crude the Venezuelan state received from Chevron’s largest field since exports resumed this summer
Canadian oil sands giants unveil plans to ramp up output in 2026
Canada’s four leading oil sands producers are all targeting higher output next year, though some are cutting capital spending at the same time.
BP announces first oil from Atlantis Drill Center 1 expansion in US Gulf
BP has achieved first oil from the Atlantis Drill Center 1 expansion project in the US Gulf of Mexico.
Shell sanctions Kaikias waterflood project in US Gulf
Shell has taken a final investment decision on a waterflood project at its offshore Kaikias field in the US Gulf of Mexico.
Oil prices jump after Trump orders blockade of Venezuelan tankers
Brent and West Texas Intermediate both gained more than 2% before giving up part of the advance
Chevron cuts Venezuelan crude prices after US seizure raises supply risks
The company sold a batch of Venezuelan oil on December 11, a day after the seizure of a vessel off Venezuela’s coast, at lower prices than cargoes offered earlier in the week
Asian buyers push Venezuela to deepen oil discounts
Asian refiners are pressing Venezuela to offer sharply lower prices for its crude as abundant discounted supplies from Russia and Iran crowd the market and rising geopolitical risks add to buyer caution
Venezuela bond rally builds on hopes of political change
Prices have climbed to about 33 cents on the dollar, up roughly 40% since early October, as the Trump administration steps up pressure on Caracas
Condor to accelerate gas development activities in Uzbekistan by mobilising second drilling rig
Canada-based Condor Energies Inc (TSX: CDR) said on December 16 in a press release that it intends to accelerate natural gas development activities in Uzbekistan by mobilising a second drilling rig.
Asian LNG spot prices sink to two-year low
India’s Russian oil imports: a complex picture of contradictory claims
Indian refiners appear set to take in substantial volumes of Russian crude this December, confounding predictions that new Western sanctions would sharply curtail flows.
Energy Transfer to take FID on Lake Charles project in early 2026
US pipeline operator Energy Transfer will take a final investment decision on its Lake Charles LNG facility in Louisiana.
Ovintiv inks deal for Cedar LNG capacity
US petroleum company Ovintiv has inked a deal for liquefaction and transportation capacity at Pembina Pipeline’s Cedar LNG facility.
Oil slides as Venezuelan disruptions clash with fears of global oversupply
Losses extended declines from last week, when markets were weighed down by forecasts pointing to excess supply in the years ahead
Dozens of tankers near Venezuela face US seizure risk
Samir Madani, chief executive of Tanker Trackers, said 37 vessels listed by the US Treasury’s Office of Foreign Assets Control are still operating in Venezuelan waters, with only limited departures in recent days
PDVSA alleges cyberattack as tensions with US escalate over oil seizure
In a statement, the company said the attempted attack formed part of Washington’s “public strategy to seize Venezuelan oil through force and piracy.”
OPEC points to drop in Venezuelan output as data gap and export risks grow
OPEC said production slipped 2.8% to 934,000 barrels per day (bpd) based on secondary sources, while Venezuela’s Ministry of Hydrocarbons reported a 0.9% increase to 1.14mn bpd
Venezuela accuses US of ‘international piracy’ over tanker seizure
Venezuela’s government condemned the United States for seizing a massive oil tanker off its coast
Venezuela’s oil potential remains limited despite US pressure
Talk of a political shift in Venezuela has intensified as the US bolsters its military footprint offshore, with analysts at RBC flagging the possibility of regime change as early as the first quarter of 2026
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