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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 and Colombia deepen energy talks as trade gradually recovers
The discussions, which included acting president Delcy Rodríguez, focused on strengthening bilateral ties and identifying concrete projects aimed at boosting regional energy security and supporting economic growth in both countries
Repsol cuts Venezuela exposure as impairments mount despite new US licences
The Spanish energy group said in its annual report that the remaining exposure is largely tied to receivables from state-owned PDVSA, financing provided to Petroquiriquire and stakes in projects including Cardón IV
US widens sanctions relief to allow tax payments by oil firms in Venezuela
To qualify, companies must route those payments into an account overseen by the United States
African Energy Chamber sets Venezuela mission to bolster cross-Atlantic oil and gas links
The visit is aimed at expanding cooperation in oil and gas, encouraging bilateral trade and identifying investment opportunities at a time when both sides are seeking to reinforce energy security
Geoex MCG releases offshore seismic data to support renewed exploration in Venezuela
The initial datasets are being offered under a specific licence from the US Office of Foreign Assets Control, in line with recent US measures that ease restrictions on energy-sector services
Shell steps up Venezuela gas project after US licenses ease energy curbs
The licenses allow the company to move forward with tangible activity at the Dragon field, a discovery in Venezuelan waters estimated to hold about 127bn cubic metres of gas, according to a company spokesperson
A Russian tanker is heading to Cuba. Will Trump let it through?
A tanker widely believed to be carrying Russian fuel is heading towards Cuba, potentially setting the stage for a fresh confrontation between Moscow and Washington as the island struggles under a de facto US fuel embargo.
Iraq signs deal with US Chevron to develop oil fields
Iraq signs major agreement with Chevron to develop its oil fields, driving future energy growth. A pivotal partnership for economic and industrial progress.
US investor with Trump ties reportedly signed deal on LNG tech with Novatek last year
US investor Gentry Beach, with ties to US President Donald Trump, said he signed an agreement in autumn 2025 with Russia’s Novatek on the joint development of a natural gas project in Alaska.
US energy diplomacy and Venezuela’s oil future
US Energy Secretary Chris Wright arrived in Venezuela on February 11 for a three-day visit and opened discussions with officials on the oil country's dilapidated oil sector and the future of state-owned oil company PDVSA.
Venezuela is again the US’s fifth-largest oil supplier but uncertainties remain
Venezuela has regained its position as the fifth-largest supplier of crude oil to US refineries during the first week of February 2026, according to data from the US government’s Energy Information Administration.
Venezuela’s oil sector attracts significant foreign interest but TotalEnergies opts out
This follows the US administration's capture of Maduro in January.
Trinidad sees Venezuela gas projects advancing after political shift
The projects are slated to be operated by Shell, BP and Trinidad’s National Gas Company, and are viewed as critical to supporting the twin-island nation’s energy sector
Repsol targets sharp rise in Venezuela oil output as operations restart
Speaking after the presentation of the company’s 2025 results, Imaz said the group is positioning itself to fully resume day-to-day operations in the country
Texas’ Golden Pass plant inches closer to producing first LNG
Exxon Mobil and QatarEnergy’s joint venture Golden Pass LNG moved another step closer to producing its first LNG after pulling in 300mn cubic feet of gas on February 18.
US firm Energy Transfer cancels offtake deals with customers for Lake Charles project
US LNG developer Energy Transfer has annulled several offtake agreements with buyers from its suspended Lake Charles LNG project.
Turkey hits out at energy field activities of Greece and Chevron, says Libya entitled to object too
Turkey on February 19 objected to energy field activities being conducted by Greece and US major Chevron (CVX.N).
Uzbekistan signs several big business deals during Mirziyoyev's Board of Peace trip to US
Gulf Oil says it will invest $150mn in creating network of at least 100 gasoline stations in Central Asian country.
US refiners weigh direct Venezuelan crude purchases to lift margins
The shift follows January approvals that allowed trading houses Trafigura and Vitol to export Venezuelan crude under a $2bn bilateral framework
Venezuela bonds hover in low 40s as oil recovery bets clash with heavy risks
Prices imply investor optimism about recovery, even as the macroeconomic backdrop remains weak, marked by scarce official data and an external debt burden described as extreme
Trump’s Venezuela oil push runs into big oil’s aversion to risk
The standoff reflects a deeper misreading of how the modern oil industry operates. Far from the swashbuckling image of early 20th-century wildcatters, today’s oil majors prioritise stability, scale and predictable returns
Revival of oil flows from Venezuela has started
Tankers carrying Venezuelan crude are once again moving into commercial trade lanes, delivering barrels to US Gulf Coast refineries and, through commodity traders, to Europe and potentially beyond.
Canada’s pipeline players riding high on gas, power demand
Pipeline companies Enbridge and TC Energy both beat analyst expectations with their fourth-quarter earnings.
Brazos Midstream to expand Midland Basin gas-gathering system
Brazos Midstream has announced that it was “significantly” expanding its natural gas gathering and processing system in the Permian’s Midland sub-basin.
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