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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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Commonwealth LNG granted 20-year export authorization
US LNG developer Commonwealth LNG has been given approval for a 20-year export license for non-free trade agreement countries from the Department of Energy.
Iraq’s oil exports to US decline sharply in first week of January, EIA reports
US crude oil imports from Iraq fell in the first week of January 2026, average US crude oil imports from nine major suppliers rose to 5.667mn barrels per day (bpd).
Methane leaks cloud Trump’s push to revive Venezuela’s oil industry
The emissions underscore both lost income and deep operational risks, complicating President Donald Trump’s efforts to draw major US producers back after the capture of Nicolás Maduro
US seizes fifth tanker as Trump tightens control over Venezuelan oil flows
A US maritime crackdown on sanctioned tankers is disrupting Venezuela’s shadow fleet and altering the destination of the country’s crude exports
US blockade stalls Venezuela’s shadow fleet
A US maritime crackdown on sanctioned tankers is disrupting Venezuela’s shadow fleet and altering the destination of the country’s crude exports
Gold Reserve challenges Citgo sale as it reviews Venezuela return plans
The miner said it has also begun reviewing and updating security arrangements to support possible negotiations for a safe return to operations in the country, as conditions evolve after Maduro’s capture
Trump’s Venezuela move exposes China’s reliance on sanctioned oil supplies
Donald Trump’s intervention in Venezuela has unsettled Chinese crude buyers by highlighting Washington’s capacity to disrupt oil flows from countries under US sanctions, intensifying concerns in Beijing that Iran could be next
US oil majors seek guarantees as Trump pushes Venezuela investment drive
US oil companies are pressing Washington for firm legal and financial assurances before committing significant capital to Venezuela
Trump offers Venezuelan crude to China and Russia under US control
US President Donald Trump said on January 9 that China and Russia are welcome to buy Venezuelan crude oil managed by Washington
Chevron, Vitol and Trafigura compete for Venezuelan oil
Global oil companies and trading houses are competing for US government contracts to export Venezuelan crude, as Washington moves to control the country’s oil sales following the capture of Nicolás Maduro
US pressure deepens uncertainty for Venezuela’s stricken oil sector
Venezuela’s oil industry is entering a period of acute uncertainty as US pressure intensifies following Washington’s intervention and the capture of Nicolás Maduro
Canada weighs impact of potential oil revival in Venezuela
Higher imports of Venezuelan crude to the US and beyond could displace oil coming from Canada.
Venezuelan authorities to send 30mn-50mn barrels of sanctioned crude to the US
US President Donald Trump announced on January 6 that Venezuelan authorities will turn over 30mn to 50mn barrels of sanctioned crude to the US, redirecting exports from China to the US.
Venezuela’s oil will cost US oil firms billions in investment before earning dollar one
US President Donald Trump says that the US will help take over running Venezuela and get the oil sector back on its feet so everyone can “make lots of money.” But there has been underinvestment in the South American country’s vast oil reserves.
Harbour to enter US Gulf with LLOG acquisition
Harbour Energy has agreed to acquire LLOG Exploration from LLOG Holdings for $3.2bn, giving it a presence in the US Gulf of Mexico.
COMMENT: US control of Venezuelan oil can earn Indian refineries optimal margins
Reliance's Jamnagar refining complex is a 1.4mn barrel per day facility incorporating proprietary cracking and coking capacity, and was architecturally engineered for Venezuelan heavy-sour crude processing
US presses Venezuela to sever ties with China and allies
The administration of US President Donald Trump has informed Venezuela’s interim president, Delcy Rodríguez, that Caracas must end economic relations with China, Russia, Iran and Cuba as part of conditions for restarting oil production and sales.
Delcy Rodríguez’s calculated ascent reshapes Venezuela’s power centre
Former diplomats describe Rodríguez as firmly ideological but tactically flexible, with a clear grasp that any economic turnaround would hinge on reviving Venezuela’s oil industry
TechnipFMC wins contract for BP’s Tiber project in US Gulf
TechnipFMC has been awarded an integrated engineering, procurement, construction and installation contract by BP for the offshore Tiber project in the US Gulf of Mexico.
Fitch sees limited near-term upside for Venezuelan oil
Renewed US involvement in Venezuela could eventually help revive the country’s oil industry and open the door for American producers, if policy shifts allow greater foreign participation
Oil slides further after Trump flags Venezuelan crude shipments to US
Oil extended losses in early Asian trading on January 6 after President Donald Trump said Venezuela would send millions of barrels of crude to the US, with proceeds from the sales placed under his control
PDVSA says it is in advanced talks with US on crude sales
Petróleos de Venezuela SA said it is holding advanced discussions with the United States over the sale of crude oil, signalling a potential expansion of energy trade ties following the capture of Nicolás Maduro
Chinese buyers cut Venezuelan crude intake as US blockade lifts prices
Chinese refiners have reduced purchases of Venezuelan crude after a narrowing price discount eroded the appeal of barrels from the sanctioned producer
Eni, Repsol chase $6bn as Venezuela oil deals unravel
The two companies jointly own the offshore Perla gas field and had provided fuel and diluents to state producer PDVSA, which relied on them to move its extra-heavy crude. Payment was made in oil.
Venezuela oil shipments to US set to continue as sanctions eased
Venezuela is set to ship sanctioned crude oil to the US on an open-ended basis after Washington agreed to selectively ease restrictions to allow the crude to be sold on international markets
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