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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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House Democrats seek answers on US stake in Venezuelan oil firm
Senior House Democrats are pressing the Trump administration for details of a US-backed Venezuelan oil agreement, escalating congressional scrutiny over a deal that could give Washington an equity position in North American Blue Energy Partners
Qatar’s UCC considers expanding Venezuela oil and gas presence
Qatar’s UCC Oil and Gas Holding is weighing a broader push into Venezuela, looking beyond the offshore gas venture that marked its entry into the country as the government seeks foreign partners to revive its energy industry
GeoPark seeks Venezuela diluent supply ahead of Orinoco start
GeoPark Ltd. is working with Venezuela’s state oil company on a supply arrangement that could determine how quickly it can ramp up its first project in the country
Venezuela oil revival draws interest despite power and output constraints
Venezuela’s push to revive its oil industry is attracting interest from foreign producers, but companies looking to expand are confronting infrastructure and operational problems that have already forced some to revise their plans
Canada’s energy regulator approves Trans Mountain tolls settlement
The Canada Energy Regulator announced this week that it had approved the tolls settlement for the Trans Mountain oil pipeline system.
BP reported to have explored acquisition of Devon assets before backing away
BP reportedly explored a potential acquisition of Devon Energy’s Eagle Ford shale assets in South Texas but ultimately decided not to proceed.
Shell takes FID on LNG Canada Phase 2
Shell and its partners have made a final investment decision on Phase 2 of LNG Canada.
Venezuela’s oil revival faces power, technology and talent shortages
Venezuela’s push to attract foreign investment and increase oil production faces major constraints in electricity, technology, supply chains and skilled labour, issues repeatedly highlighted at the Venezuela International Oil and Gas Summit
Venezuela’s oil deals keep billions outside public oversight
Venezuela’s system for managing strategic resources continues to rely on confidential agreements that keep significant flows of money outside conventional public oversight, with oil, gold and food imports forming three prominent channels
US eases some Venezuela energy restrictions with updated OFAC licences
The changes allow companies to advance work on prospective oil, gas, petrochemical and electricity projects, although some activities will still require separate approval from OFAC
Brazil’s Petrobras locks in US LNG supply for 22 years
Brazilian state-controlled oil company Petrobras has signed a 22-year agreement to purchase liquefied natural gas from US exporter Cheniere Marketing, securing about 800,000 tonnes per year under a free-on-board arrangement.
South Korea investment package turns towards Alaska LNG
South Korea’s large US investment package is increasingly being directed towards Alaska LNG, potentially giving the long-delayed project a major new source of financing despite lingering questions over its commercial viability.
US reaffirms Guyana support as ruling approaches in Essequibo territorial dispute
The United States has reaffirmed its support for Guyana’s “territorial integrity” as an ICJ ruling on Venezuela’s claim to the oil-rich Essequibo region approaches, despite the sharp improvement in Washington-Caracas relations.
Shell takes FID on LNG Canada Phase 2
Shell has taken a final investment decision on the second phase of LNG Canada, clearing an expansion that will double the British Columbia export terminal’s capacity to 28mn tonnes per year.
Tecnimont wins FEED contract for 25mn-tpy Argent LNG project in US
Italy’s MAIRE Tecnimont has secured a front-end engineering and design (FEED) contract for Argent LNG’s planned 25mn tonnes per year export terminal at Port Fourchon in Louisiana.
Power deficit cripples Venezuela’s oil heartland of Zulia as infrastructure falters
Daily life in Maracaibo has been rendered unpredictable as Zulia state struggles with a severe electricity shortfall, forcing residents to navigate routine blackouts lasting anywhere from six to 16 hours
How Alejandro Betancourt rebuilt his Venezuelan oil empire
Alejandro Betancourt, a controversial Venezuelan businessman often labeled a "bolichico", has emerged as a key player in the oil sector restructuring promoted by the Donald Trump administration in Venezuela
Europe’s diesel dependence exposed by threatened US export restrictions
Europe successfully replaced Russian diesel after 2022, but it did so by becoming increasingly dependent on distant suppliers, particularly the US.
UK's Grangemouth petchems firm marks decade of reliance on US shale ethane
UK petrochemicals firm INEOS has marked ten years since the first cargo of US shale-derived ethane arrived at its Grangemouth petrochemical complex in Scotland, highlighting the site’s long-term dependence on transatlantic feedstock supplies.
US criticises Europe over slow emergency oil-stock releases
Stalled Citgo sale holds a key to US leverage and Venezuela’s economic recovery
A court-mandated $9bn transaction to sell Citgo Petroleum Corp. to Elliott Management and startup affiliate Amber Energy has ground to a halt, as the US Treasury Department continually shields the Houston-based refiner from seizure by creditor
Venezuelan crude output could reach around 1.6mn barrels per day by 2028, says Rystad
Venezuela’s upstream petroleum industry is drawing its most diverse array of international energy companies and foreign capital in decades
Gas-tastrophe! Global energy chiefs drill for more while their own seeps away
The global gas industry is spending billions of dollars drilling new fields, constructing LNG terminals and securing supply routes while allowing huge quantities of the commodity it already produces to leak, vent or burn into the atmosphere.
Venezuela solidifies rank as second-largest foreign crude supplier to US
Early data from the Energy Information Administration reveals that this volume marks a 228% expansion over figures from the corresponding span in 2025.
US fills Europe's diesel gap as Trump weighs export ban
Europe has swapped one diesel dependency for another, and its new main supplier, the US, is now debating whether to stop selling.
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