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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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Carlyle withdraws from Russian oil firm Lukoil’s asset sale as US-backed bidders emerge
US private equity firm Carlyle Group is no longer actively pursuing the acquisition of Russian oil producer Lukoil's international assets.
Mexico's reliance on US pipeline gas hits record as storage gap leaves power sector exposed
Mexico imported a record average of 6.8Bcf/d of US natural gas between January and July 2026, up 1.8% year on year, according to the US Energy Information Administration (EIA).
Venezuela’s PDVSA targets 1.3mn bpd by year-end
Venezuela’s state oil company PDVSA aims to raise crude production to 1.3mn barrels per day (bpd) by the end of 2026
Colombian billionaire turns Venezuelan oil contract into $515mn GeoPark stake
Colombian billionaire Jaime Gilinski is using a newly secured Venezuelan oil contract to strengthen his grip on GeoPark Ltd.
Cuba condemns US seizure of $2.8mn in fuel shipments bound for island
Cuba has accused the US of threatening governments and businesses involved in supplying fuel to the island after American authorities seized or detained 90 biodiesel shipments worth about $2.8mn
Reliance makes India top non-US buyer of Venezuelan oil
Reliance Industries (NSE: RELIANCE), the conglomerate controlled by Indian billionaire Mukesh Ambani, has become the largest purchaser of Venezuelan crude outside the US.
PDVSA says fuel supplies remain secure after fire at Venezuela's Cardón refinery
Venezuela’s state oil company PDVSA said domestic fuel distribution would continue without disruption after a fire forced an emergency shutdown at the Cardón refinery in Falcón state
Venezuela oil recovery may take a decade and billions in investment, ConocoPhillips says
Venezuela faces a prolonged and costly path to restoring its oil industry to historical production levels, with recovery likely to take at least 10 years and require tens of billions of dollars in investment, according to ConocoPhillips chief
Pacific Coast Energy targets 40,000 bpd in Venezuela within six months
Pacific Coast Energy Co. has begun operating in Venezuela’s oil fields and aims to more than double its current output within six months, as smaller companies move to revive production under new opportunities in the country’s energy sector
Venezuela’s oil GDP seen growing as much as 18% in 2026, economist says
The outlook reflects a combination of stronger international prices and larger output compared with 2025. The war in Iran has pushed oil prices to recent highs, allowing Venezuela to benefit from improved market conditions alongside rising production
Reliance drives Indian oil imports from Venezuela to seven-year high
Reliance Industries is emerging as the main buyer of Venezuelan crude in India, capitalising on discounted prices and renewed access to supplies as the US eases restrictions on the South American nation’s oil industry
US intercepts 90 Cuba-bound biodiesel shipments worth nearly $3mn
US authorities intercepted 90 shipments of biodiesel bound for Cuba, worth nearly $3mn and containing more than 600,000 gallons, in Houston and South Florida before the cargo left the country, as Washington steps up enforcement of sanctions on Havana
Chevron to offload certain midstream assets in exchange for amended Bakken midstream terms
Chevron has agreed to restructure the terms of its Bakken midstream contracts and establish new DJ Basin midstream contracts while transferring its ownership interests and general partner position in Hess Midstream and DJ Basin midstream assets.
Suncor to sell stakes in three Eastern Canadian oilfields to Ithaca
Suncor Energy has agreed to sell its stakes in the Terra Nova, White Rose and West White Rose oilfields offshore Eastern Canada to UK-based Ithaca Energy.
Canada to fast-track Pacific Link pipeline project review in potential boost to oil sands investment
Ottawa has announced that it is listing the proposed Pacific Link oil pipeline as a project of national interest, putting it on course for an expedited regulatory review process.
Venezuela advances gas plans with BP as Shell eyes Loran opportunities
Venezuela is stepping up planning for its natural-gas sector, with the hydrocarbons ministry and BP Exploration Caribbean Limited reviewing development work at the Cocuina field as they prepare an operational roadmap for 2027
South Korean officials say no agreement yet on Alaska LNG investment despite Trump announcement
South Korean officials warned this week that their country had not yet committed to investing in the proposed Alaska LNG project.
Centrica, Ksi Lisims LNG enter HoA for long-term LNG supply
The UK’s Centrica Energy has entered into a heads of agreement to buy 1mn tonnes per year of LNG from the proposed Ksi Lisims project in Canada.
MidOcean secures more than $4bn to fund LNG growth strategy
MidOcean Energy has secured more than $4bn to help fund its LNG growth strategy.
Venezuela oil exports drop 9% in September as freight costs rise
Venezuela’s oil exports declined almost 9% in September as higher maritime freight costs pushed buyers to seek deeper discounts and contributed to delays in loading cargoes
OPEC+ holds November oil supply steady as Venezuela backs market stability
OPEC+ will keep crude production unchanged in November, extending the supply level set in September for a second straight month as the alliance continues to monitor global market conditions
Eni, Repsol weigh outside investment in Venezuela’s Perla gas field
Eni SpA (Milan: ENI) and Repsol SA (Madrid: REP) are weighing a sale of part of their interests in Venezuela’s Perla natural gas project as they seek additional capital to expand the offshore field
Rodríguez meets Baker Hughes CEO on Venezuela gas projects
The discussions brought together Baker Hughes executives with representatives of Venezuelan-rooted Lindsayca and Canadian energy company New Stratus Energy, both of which have experience in gas developments
Brazil’s Eneva targets Venezuela gas with eye on power, liquids and mature fields
Brazilian energy producer Eneva SA (B3: ENEV3) is looking to turn Venezuela’s largely untapped natural gas resources into a range of commercial products
Venezuela oil exports to US surge 170% as Citgo returns
Venezuelan crude shipments to the US surged 170% in the first seven months of 2026, with Citgo Petroleum returning as a buyer after a seven-year absence and helping drive a sharp recovery in bilateral oil trade
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