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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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Russian gasoline prices now 8% pricier than US
Russian gasoline becomes 8% more expensive than US fuel as Moscow takes 60% of pump prices in taxes and levies.
Trump’s new Monroe Doctrine push puts Venezuela’s oil future at centre of market risks
Wood Mackenzie analysts said Venezuelan output could recover relatively quickly if operational support and financing improved
US pressure on Maduro revives trading frenzy in Venezuela’s defaulted PDVSA bonds
Escalating US pressure on Nicolás Maduro’s government has reignited investor attention on Venezuela’s long-defaulted sovereign and oil company debt
Western majors lobbying Ukraine to stop attacks on CPC oil export route, says analyst
Kazakhstan agrees new deal to pipe crude to China in response to drone raid that damaged Black Sea shipment terminal.
US threat spurs potential Venezuela supply shock, lifting heavy crude prices
A potential US military intervention in Venezuela could materially lift global oil benchmarks by removing a significant source of heavy crude from the market, according to analysis from Rystad Energy
US Chevron negotiates with Iraq to take over West Qurna-2 from Lukoil
Iraq has held discussions with US major Chevron over potential cooperation in developing the country’s oil and gas sector, as Baghdad moves to identify an operator to replace Russia’s Lukoil at the giant West Qurna-2 oilfield
Northern Iraqi oil arrives in US amid hope of energy market stability
Crude from the Kurdistan region has arrived in the US after months of shutdown, following a hard-won deal to reopen the strategic pipeline.
New Fortress Energy and Puerto Rico finalise 7-year LNG deal
US LNG developer New Fortress Energy has received final approval from Puerto Rico authorities to conclude a 7-year LNG supply deal.
Turkey extends expiring Russian gas import contracts by year, announces plans to invest in US gas production
Turkey has extended its expiring Russian gas import contracts by a year, energy minister Alparslan Bayraktar announced on December 4.
Venezuelan oil shipments edge higher despite operational strains and US pressure
Venezuela lifted crude and fuel exports to roughly 921,000 barrels per day (bpd) in November 2025
Canada’s Enbridge unveils 2026 financial guidance
Canada-based pipeline firm Enbridge is targeting adjusted earnings before interest, income taxes and depreciation (EBITDA) of CAD20.2-20.8bn ($14.5-14.9bn) in 2026.
Alberta, Ottawa enter new era of energy collaboration
The federal government of Canada and provincial government of Alberta have signed an energy agreement.
Targa expands in US’ Permian Basin with Stakeholder acquisition
US midstream player Targa Resources has struck a deal for a wholly owned subsidiary to acquire Stakeholder Midstream for $1.25bn in cash.
Tensions rise as Venture Global accuses Shell of campaign of destruction
After a lengthy arbitration case that ruled in Venture Global’s favour, the bad blood between the two LNG rivals appears to be getting worse.
Oil markets eye Venezuela as JPMorgan flags transition risk to global supply
The bank’s latest outlook links renewed speculation over institutional change in Caracas to the US military build-up in the Caribbean and rising geopolitical pressure on Nicolás Maduro
Venezuela condemns US court approval of $5.9bn Citgo sale as “barbaric dispossession”
Venezuela has slammed a United States court decision authorising the sale of oil company Citgo to settle billions of dollars in debt, calling the move "fraudulent" and a violation of its sovereign assets.
US LNG plants use record level of natural gas three days in a row
Demand for feedgas at US LNG plants soared to a record high on November 28.
Woodfibre LNG receives second floatel to house workers
Woodfibre LNG has welcomed a second floatel to accommodate workers at its site.
Surging US and Russian LNG exports push gas prices to 18-month low
LNG prices in Europe have dropped to their lowest levels in 18 months, thanks to surging supply and subdued demand across the continent.
Chevron confronts higher legal risk in Venezuela after US terror designation
Chevron Corp. and a small group of foreign oil producers are navigating a tougher landscape in Venezuela after Washington labelled the Cartel de los Soles a foreign terrorist organisation
US gas exports to Mexico hit all-time high in May amid rising power demand
Pipeline deliveries of US natural gas to Mexico climbed to an unprecedented 7.5 billion cubic feet per day (Bcf/d) in May 2025, driven by rising fuel needs in Mexico’s power sector, the US Energy Information Administration (EIA) said on Friday
Venezuela appeals to OPEC for support as tensions with US escalate
Nicolás Maduro has called on OPEC to intervene as Venezuela faces what he describes as “growing and illegal threats” from the United States and President Donald Trump
Venezuela’s Vice President calls for cooperation in energy sector
Her remarks came as she criticised the US Southern Command’s military presence, arguing that disputes over energy assets should be resolved through legal frameworks rather than force
PDVSA Ad Hoc moves to appeal US court’s approval of $5.9bn Citgo bid
Venezuela’s PDVSA Ad Hoc Board sharply criticised a ruling by US Judge Leonard Stark that endorsed a $5.9bn bid for PDV Holding, the parent company of Citgo Petroleum
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