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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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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
Venezuela prepares to resume LPG exports under US-backed oil deal
Vitol and Trafigura were granted the first US licences earlier this month to handle cargoes tied to the roughly $2bn agreement, which seeks to draw down inventories that accumulated after the US imposed an oil blockade in December
Chevron signals willingness to support Venezuela oil reform talks
Chevron’s representative in Venezuela said the US oil producer is ready to keep contributing its operational experience as the country moves forward with plans to overhaul its hydrocarbons framework
US Chevron demands better terms to buy Lukoil’s Iraq oilfield
US oil major Chevron is pressing Iraq to improve the economic returns of the giant West Qurna 2 oilfield as a condition for acquiring the project from Russia’s Lukoil.
US gas price surge sends ripples across global LNG market
It highlights how weather events in North America now ripple quickly through global gas and LNG markets.
Venezuela courts oil majors as parliament weighs hydrocarbons law rewrite
Venezuela’s interim president Delcy Rodríguez met with executives from oil companies including Repsol, Chevron and Shell
US weighs broad sanctions licence to accelerate Venezuela oil revival
The move is intended to streamline approvals after a flood of licence requests from companies seeking to operate alongside state-owned PDVSA.
Venezuela oil law revamp falls short of capital needed for sector overhaul
Venezuela’s proposed overhaul of its hydrocarbons law is designed to ease the expansion of companies already operating in the country and draw in fresh investors
Baker Hughes sees Venezuela upside but ties expansion to legal clarity
Baker Hughes said Venezuela could become a meaningful source of revenue, though any scale-up would hinge on firm guarantees around security, workforce protection and a clearly defined legal and regulatory environment
Former presidential candidate warns Venezuela reset may stop at oil deal
Henrique Capriles Radonski has re-emerged as a key voice in Venezuelan politics after taking a seat in the new National Assembly following the removal of Nicolás Maduro
Delcy Rodríguez backs hydrocarbons law reform to drive growth for Venezuela
Venezuela’s proposed reform of its Organic Hydrocarbons Law will underpin economic growth while safeguarding state ownership of the country’s energy resources, acting president Delcy Rodríguez said
SLB signals Venezuela expansion as clients eye return
SLB is preparing to scale up activity in Venezuela and is fielding approaches from customers weighing a return to the country, according to comments from Chief Executive Officer Olivier Le Peuch
US policy shift clouds court-ordered sale of Venezuela-owned Citgo
Efforts by the United States to exert greater control over Venezuela’s oil sector are complicating the court-mandated auction of Citgo, the US refiner owned by the South American country’s state oil group
US naphtha deliveries mark early step in Venezuela’s heavy oil restart
US-sourced naphtha has begun arriving in Venezuelan waters, a concrete early move toward reviving the country’s long-impaired heavy crude production
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