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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’s oil billions expose the price of US control
The Trump administration’s refusal to provide a clear account of more than $13bn in Venezuelan oil revenue is becoming increasingly difficult to defend.
Venezuela’s top court clears Halliburton to resume oilfield services operations
Venezuela’s Supreme Court of Justice authorised Halliburton to restart operations in the country, saying the continued suspension of the US oilfield services company’s activities could damage state assets
Trump deflects questions over $13bn in Venezuelan oil revenue
US President Donald Trump declined to provide details about the whereabouts of at least $13bn in proceeds from Venezuelan oil sales administered by the US government since Nicolás Maduro was captured in January
Argent LNG granted export authorisation for Louisiana project
The US Department of Energy has granted an export permit to free-trade countries to Argent LNG for its proposed Louisiana project.
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.
Canada’s FortisBC granted key approval for Tilbury LNG expansion
Canadian natural gas utility Fortis BC has received the go ahead from British Columbia’s provincial government to proceed the project following the exemption of the requirement for a Certificate of Public Convenience and Necessity.
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.
Chevron sues Ecuador in US court to enforce $224mn arbitration award
US oil major Chevron and its subsidiary TexPet have opened a new chapter in their long-running dispute with Ecuador.
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.
Japan doubles oil imports in June
Middle Eastern deliveries rose to around 1.2mn bpd from just over 800,000 bpd in May, but remained 40.6% lower year on year.
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.
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