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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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Venezuela holds July 28 deadline for oil contract overhaul as talks accelerate
Venezuela is pressing foreign oil companies and other partners of state producer PDVSA to complete the restructuring of their contracts by July 28
PDVSA reclaims direct oil sales as refiners challenge global traders
The move puts the state oil producer at odds with traders including Vitol and Trafigura, which currently account for a large share of Venezuelan exports
Batista brothers acquire Venezuelan oil stake as US-backed reopening draws investors
Brazilian billionaires Joesley and Wesley Batista are expanding their presence in Venezuela’s oil sector as US-backed efforts to reopen the country’s energy industry attract new private investment
Former PDVSA president questions US control of Venezuela oil revenue
Venezuela’s oil exports generated an estimated $14.3bn in the first half of 2026, but the destination and management of those proceeds remain unclear, according to former Petróleos de Venezuela President Rafael Ramírez
Venezuela bondholder group grows as investors prepare for debt talks
Investors holding Venezuela’s defaulted debt are building a broader coalition as prospects for a potential restructuring improve following the US capture of Nicolás Maduro
KOIL makes Brazil offshore debut
US-based KOIL Energy has secured its first contract in Brazil, winning a subsea umbilical maintenance project that marks its entry into the country's deepwater offshore market.
Repsol CEO says Venezuela debt talks can wait as company prioritises production
Repsol Chief Executive Officer Josu Jon Imaz said the Spanish energy company is focused on expanding oil and gas output in Venezuela rather than resolving billions of euros in historical debt owed by state oil producer PDVSA
Repsol expects four more Venezuela oil shipments by year-end
Repsol expects to receive four additional cargoes of Venezuelan crude before the end of the year as part of agreements that allow the Spanish energy company to expand gas and oil operations in the country while recovering outstanding payments
Trump administration faces questions over $13bn in Venezuelan oil revenue
The Trump administration is facing mounting scrutiny over more than $13bn in Venezuelan oil revenue collected since January, with lawmakers and economists pressing Washington to disclose how the money is being managed
OPEC and the next surplus
A post-war return of constrained barrels could tip today’s uneasy balance into oversupply, forcing OPEC+ back into a market-share struggle it may no longer control.
Azeri private oil firm makes first foray into US upstream sector
The company said it was the first private Azerii group to own and operate upstream assets in the US.
Michigan regulators reissue permits for Line 5 tunnel
The Michigan Department of Environment, Great Lakes, and Energy has reissued the permit for Enbridge's Great Lakes Tunnel Project.
Chevron, BP evacuate some Gulf workers ahead of Tropical Storm Bertha
Chevron and BP evacuated some of their staff from platforms in the US Gulf of Mexico this week as Tropical Storm Bertha approached the region, but the disruption ultimately proved minor.
Magnolia to buy WildFire in $4.1bn Eagle Ford-focused deal
Magnolia Oil & Gas has agreed to acquire WildFire Energy for around $4.06bn.
Pacific Coast Energy nears deal to develop Venezuela oil fields with PDVSA
Pacific Coast Energy Co. is nearing an agreement with Venezuela's state oil company to take part in developing crude fields in the country's east, as Caracas moves to accelerate deals with foreign investors to revive production
Lionheart targets Venezuela oil revival with $400mn investment plan
Lionheart Capital is positioning itself to become an early private investor in Venezuela's oil sector, pursuing a transaction valued at about $400mn that would give the Miami-based firm exposure to one of the country's mature producing assets
Petrovietnam eyes stronger Canada ties to advance energy transition
Petrovietnam is looking to strengthen energy co-operation with Canada as Vietnam accelerates its transition towards cleaner and more diversified energy sources.
Oregen Energy appoints Michael Simpson to board as it advances Namibia exploration strategy
Canadian oil and gas investor Oregen Energy has appointed energy policy and regulatory specialist Michael Simpson to its board of directors as the company advances its offshore exploration interests in Namibia's Orange Basin.
Alaska wildcatter sets sights on Venezuela in new frontier oil bet
The Texan wildcatter behind Alaska’s Pikka oil discovery is preparing to explore for crude in Venezuela after agreeing a draft deal with authorities
Venezuela targets 1.4mn barrels a day of oil output by year-end
Venezuela expects crude production to approach 1.4mn barrels per day by the end of 2026, Acting President Delcy Rodríguez said, outlining an expansion plan as the government seeks to generate additional revenue for the country's reconstruction
Cheniere’s Corpus Christi plant gets approval to introduce fuel gas to Train 7
The US’s largest LNG exporter Cheniere Energy has been given the green light by federal regulators to add hot oil and fuel gas into Train 7 at its Corpus Christi facility.
Canada’s Cedar LNG gets approval to increase future production capacity
Cedar LNG has received approval from British Columbia’s environmental regulator to raise its future production capacity.
Argentina's Vaca Muerta crude expands into Asian markets as US demand declines
Crude oil produced at Argentina's Vaca Muerta shale formation is reaching new markets in China and Southeast Asia as exports diversify away from the United States.
Venezuela sees 17% oil production growth by 2028, with execution key
Venezuela's oil industry is entering a new stage of its recovery, with attention turning from regulatory change and market access to the more difficult task of delivering sustained increases in production
India’s Venezuelan oil imports hold firm as refining capacity expands
Indian ports received 10.1mn barrels of Venezuelan crude in June, nearly unchanged from May's 10.2mn barrels and well above April's 8.3mn and March's 900,000 barrels. Another 7.7mn barrels are scheduled to arrive in July
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