NorthAmOil - North America Oil & Gas

Oil falls below $112 as markets weigh fresh US threats against Iran

Oil prices fell on May 20 as markets weighed the latest US threat to resume strikes on Iran, with Brent crude falling below $112 a barrel and West Texas Intermediate approaching $105.

Datanálisis sees Venezuelan economy expanding despite early-year slowdown

The research firm cautioned that the broader impact of oil revenue flows would take time to materialise because of collection cycles within the energy industry and delays linked to treasury accounts where funds are deposited

Pakistan makes first US crude imports as energy ties expand

Pakistan has imported 6mn barrels of crude oil from the US for the first time in the current fiscal year, in a move that highlights a gradual widening of energy links between Islamabad and Washington.

Minister: LNG Canada will decide on FID for Phase Two by end of year

Shell-operated LNG Canada will make a final investment decision (FID) on its Phase Two expansion before the end of the year.

Glenfarne’s Alaska LNG secures supply deal with ConocoPhillips

Alaska LNG has inked a 30-year natural gas supply deal with US energy giant ConocoPhillips.

Venezuela unveils draft oil rules to guide foreign investment push

Venezuela has begun circulating draft regulations linked to its newly approved hydrocarbons law, providing fresh details on how private companies would operate in the country’s oil and gas sector as Caracas moves to loosen decades of state control

Trump-linked investment firm launches $200mn SPAC focused on Venezuela

The initiative was registered with the US Securities and Exchange Commission as part of a broader strategy targeting Latin American markets viewed as entering a phase of economic recovery and renewed investment activity

Venezuela could sustain 4mn barrels a day for decades, banker says

Venezuela possesses the geological and technical capacity to raise oil production to as much as 4mn barrels per day (bpd), although reaching those levels would require years of infrastructure rebuilding and operational recovery

Caturus takes FID on Louisiana project Commonwealth LNG

Positive FID comes one month after Caturus announced the project had achieved full commercialization.

Egypt’s imports of US natural gas surge 190% y/y in January-February 2026

Egypt’s imports of US natural gas surged by around 190% year-on-year (y/y) during the first two months of 2026, reaching 82.1bn cubic feet compared with 28.3bn cubic feet in the same period of 2025, according to data from the US Department of Energy

Pakistan imports 6mn barrels of US crude

Pakistan imported 6mn barrels of crude oil from the United States for the first time during the current fiscal year as Islamabad moves to deepen energy cooperation with Washington.

US-Venezuela trade climbs as oil exports drive recovery in ties

According to a report released by the Venezuelan-American Chamber of Commerce and Industry, bilateral trade reached $3.29bn during the first three months of the year, compared with $2.68bn in the same period a year earlier

Venezuela oil output extends recovery as US rapprochement spurs investment

Venezuela seeks to block Citgo sale as rising oil prices lift valuation

In a May 12 filing to Judge Leonard Stark, attorney Alexandra Cumings said stronger valuations across the refining sector now imply Citgo could be worth at least $15.1bn

Permian Basin royalty firm EagleRock raises $320mn in IPO

EagleRock Land, a land management royalty company that controls surface acreage in the US’ Permian Basin, has raised $320.1mn in its initial public offering.

Keyera closes Plains acquisition despite challenge from Competition Bureau

Canada’s Keyera has completed the acquisition of Plains Midstream Canada despite Canada's federal Competition Bureau launching a challenge against the transaction.

Minerals player WhiteHawk files for IPO, discloses 615% revenue increase

Natural gas mineral and royalty business WhiteHawk has filed for an initial public offering (IPO) of its common stock.

Cheniere highlights impact of Middle East conflict in first-quarter earnings

Cheniere posted a first-quarter net loss of $3.5bn despite also achieving higher revenue and record quarterly exports.

Lavrov accuses US of seeking to expel Russian oil firms from global markets

Russian Foreign Minister Sergey Lavrov has accused the United States of “deliberately pushing” Russian oil companies out of international markets, including by seeking to take over Rosneft's cooperation with Venezuela.

US to account for two-thirds of EU LNG imports this year and 80% by 2028: IEEFA

Europe is becoming increasingly dependent on LNG from the US, with US supplies expected to account for around two-thirds of the continent’s LNG imports this year.

Bulgaria's Bulgargaz picks Shell for US LNG delivery

Bulgarian state gas supplier Bulgargaz announced this week it had selected Shell to deliver an LNG cargo from the US under a tender aimed at securing supply for the summer season.

EU set to soften methane regulation amid crisis

The EU is preparing to soften enforcement of its methane emissions rules for oil and gas imports as the Iran war drives renewed fears over Europe’s energy security.

Repsol receives first Venezuelan crude shipment under gas supply agreement

The arrangement is intended to secure the long-term sustainability of gas production at Cardón IV, the offshore project jointly operated by Repsol and Italy’s Eni

Ex-PDVSA chief El Aissami testifies in secretive Venezuelan corruption trial

Proceedings, which began on April 20 nearly two years after El Aissami’s arrest, are being held behind closed doors with no access granted to the press

Venezuela’s oil transparency push faces doubts as questions persist over PDVSA funds

Efforts by Venezuela’s new leadership to present a more transparent oil sector are drawing scrutiny as limited disclosures and allegations of past corruption continue to cloud the management of the country’s main source of revenue