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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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US developer Commonwealth LNG seals 20-year supply contract with Mercuria
Commonwealth LNG has finalized a 20-year sales agreement with Mercuria for annual deliveries of 1mn tonnes per year of LNG.
Vietnam voices concern over Cuba oil tariffs
Vietnam has expressed strong concern over a newly announced plan by the United States to levy additional tariffs on products from countries that supply oil to Cuba.
LNG buyers rethink portfolios as volatility becomes structural
LNG buyers are centralising procurement, expanding trading capability and rebalancing portfolios as price swings, geopolitics and supply growth reshape purchasing strategies, executives said at LNG2026.
LNG alliances move from contracts to co-creation
Partnerships across the LNG industry are becoming deeper, longer-term and more strategic as companies seek to share risk, secure financing and navigate geopolitical volatility, executives said at LNG2026.
Venezuela, India pledge broader ties as oil sector opens to foreign buyers
Venezuela and India agreed to deepen their bilateral relationship across multiple sectors following a call between interim president Delcy Rodríguez and Indian Prime Minister Narendra Modi
Exxon sees reform as prerequisite for any Venezuela return, CEO says
Exxon Mobil Corp remains reluctant to re-enter Venezuela despite the country’s vast crude reserves, pointing to years of nationalisations, policy instability and economic deterioration
Chevron beats estimates as Venezuela bets offset fourth-quarter profit drop
Chevron Corp posted a decline in fourth-quarter earnings but exceeded analyst expectations as cost controls and efficiency gains helped cushion the impact of softer oil prices heading into 2025
Oil service firms seen as early winners in push to revive Venezuela’s energy sector
Global oil service providers are emerging as likely early beneficiaries of President Donald Trump’s drive to restart Venezuela’s battered oil industry, even as large producers tread carefully
Venezuelan crude shipments jump in January as US retakes control of exports
The increase followed the capture of President Nicolás Maduro and the lifting of a naval blockade, a shift that enabled trading houses to take over most overseas shipments
US supplies EU with 60% of its LNG in January
The European Union received 60% of its LNG from the US in January.
Canadian energy firm assessing export facility at Port of Churchill
The push for an LNG export terminal on Hudson Bay is gaining momentum with Manitoba Premier Wab Kinew indicating that one of Canada’s largest energy firms is considering a facility at the Port of Churchill.
EU considers pivoting from the US to Canada and Qatar for LNG supply
Tensions over Trump’s threats to annex Greenland have spurred EU to seek to reduce its dependence on the US.
US lawmakers probe who benefits from Venezuelan oil under new export regime
US lawmakers are demanding greater transparency over Venezuela’s oil exports after Washington assumed control of the country’s crude sales following the capture of Nicolás Maduro earlier this month
US-based Valero expands Venezuelan crude intake as heavy oil becomes core feedstock
The company said it has sourced oil from all three sellers authorised by the US government, with volumes set to make up “a pretty large part” of its heavy crude intake through February and March
Citgo returns to Venezuelan crude as US-Caracas energy ties thaw
The US refiner has bought about 500,000 barrels of Venezuelan heavy crude for delivery in February, according to two people familiar with the transaction, who asked not to be identified
Venezuela steps up dollar sales as oil revenue deals with US take shape
Venezuela’s central bank said it has begun offering an additional $200mn in foreign currency to the local market, extending a series of dollar injections funded by hydrocarbon exports
US replaces Russia as Venezuela’s sole naphtha supplier
Naphtha cargoes bound for Venezuela in January have come exclusively from the US Gulf Coast, marking a sharp break from a trade that had been dominated by Russian supply
Rodríguez says US unfreezes Venezuelan assets after talks with Trump administration
Venezuela’s interim president, Delcy Rodríguez, said assets held in the United States have begun to be unfrozen following diplomatic contacts with the administration of President Donald Trump
Trump's Venezuela oil plan threatens Mexico's Pemex production, exports
Both countries primarily produce heavy sour crude.
ExxonMobil targets bringing more CCS projects online in 2026
ExxonMobil has provided an update on its progress in the carbon capture and storage (CCS) space, including milestones reached in 2025, as well as plans for 2026.
Glenfarne hits more milestones with Alaska LNG
Glenfarne has announced a series of moves related to the proposed Alaska LNG project.
ExxonMobil unit reportedly seeking buyers for certain Eagle Ford assets
ExxonMobil’s shale-focused subsidiary, XTO Energy, is reportedly looking for buyers for some of its assets in Texas’ Eagle Ford play.
Chevron ramps up Venezuelan crude flows to US
Chevron Corp. has sharply increased shipments of Venezuelan crude to the US, deploying its largest tanker fleet in nearly a year as Washington deepens its oversight of the country’s oil sector following the capture of Nicolás Maduro
Venezuela debt rally signals opening for historic restructuring after Maduro ouster
Venezuelan bonds, long treated by investors as a speculative bet on a deeply troubled economy, surged after a pre-dawn US operation in Caracas removed President Nicolás Maduro, reviving expectations of a sweeping debt overhaul
PetroChina steps back from Venezuelan crude as US takes control of exports
The move marks another pause in what was once a key supply relationship. Until early 2019, PetroChina was Venezuela’s largest single crude buyer, before US sanctions forced a halt to imports
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