North America
News
January 06, 2026
Expectations that Venezuela could quickly rebound to historic output near 3 MMbpd are running into hard infrastructure and capital barriers, according to commentary from global analyst firms.
News
January 05, 2026
Analysts say Venezuela’s political upheaval is unlikely to disrupt global crude supply in the near term, but uncertainty around sanctions, exports and investment could reshape upstream dynamics in 2026 and beyond, with Chevron viewed as best positioned among U.S. majors.
News
January 05, 2026
U.S. Energy Secretary Chris Wright is expected to meet with oil industry executives this week to discuss the potential revival of Venezuela’s oil sector, as companies weigh long-term investment risks following recent political upheaval.
News
January 05, 2026
Chevron and other U.S. oil stocks climbed after President Donald Trump pledged to revive Venezuela’s oil industry following the capture of Nicolás Maduro. Analysts say Chevron, which operates under a U.S. sanctions waiver, is best positioned to benefit, though rebuilding Venezuela’s aging oil infrastructure could take years.
News
January 04, 2026
U.S. Secretary of State Marco Rubio said Washington’s oil “quarantine” is giving the U.S. significant leverage over Venezuela, as sanctioned crude shipments are seized and exports constrained.
Article
December 2025
How is U.S. President Trump's upstream oil and gas record shaping up after 11 months? In a new column, World Oil editor-in-chief Kurt Abraham grades policy wins on LNG, leasing and permitting against rising costs, market headwinds and price pressure on U.S. producers.
News
January 02, 2026
Baker Hughes has completed the closing of its surface pressure control JV with Cactus, marking a shift in ownership and capital allocation within the upstream equipment sector.
News
December 31, 2025
Venezuela’s oil output in the Orinoco Belt has fallen 25% as U.S. enforcement efforts block exports, forcing PDVSA to shut wells amid limited storage capacity.
News
December 31, 2025
Harbour Energy has been appointed operator of the Zama offshore oil project in Mexico, a 750-MMboe development approved by SENER and backed by Pemex and Talos Energy.
News
December 30, 2025
Venezuela has begun shutting oil wells in the Orinoco Belt as U.S. blockade measures halt crude flows, forcing PDVSA to cut production by an estimated 25% due to storage constraints.
News
December 30, 2025
Bollinger Shipyards has secured a contract to build four U.S. Coast Guard Arctic Security Cutters, advancing U.S. icebreaking capabilities and Arctic operational presence.
News
December 29, 2025
U.S. ports are receiving Venezuelan crude despite a partial maritime blockade, with several Chevron-chartered tankers successfully unloading cargo and more en route. The activity highlights Chevron’s continued ability to move oil under its U.S. license as geopolitical tensions escalate and foreign vessels remain stalled offshore.
News
December 23, 2025
Subsea7 has secured a $50–$150 million subsea installation contract from LLOG Exploration for the Buckskin South Expansion in the U.S. Gulf, with offshore work planned for 2026–27.
News
December 22, 2025
Baker Hughes has received a notice to proceed to supply six liquefaction trains for the 9.5-MMtpa Commonwealth LNG export project in Cameron, Louisiana.
News
December 22, 2025
Harbour Energy has agreed to acquire deepwater operator LLOG for $3.2 billion, entering the U.S. Gulf and adding long-life, oil-weighted offshore assets.
News
December 22, 2025
Kolibri Global Energy said production at its Tishomingo field in Oklahoma has exceeded 6,000 boed as new Barnes and Velin wells begin flowing back.
News
December 22, 2025
Shell and INEOS Energy have made a new oil discovery in the Gulf of America after confirming high-quality oil at the Shell-operated Nashville well in the deepwater Norphlet play.
News
December 18, 2025
The U.S. House has passed the bipartisan SPEED Act, advancing sweeping federal permitting reform aimed at streamlining NEPA reviews and accelerating energy and infrastructure projects. Industry groups are now urging swift Senate action in 2026.
News
December 18, 2025
California Resources Corporation has completed its all-stock combination with Berry Corporation, strengthening its California-focused portfolio with long-life, low-decline conventional assets and adding development upside in the San Joaquin Basin and Uinta Basin.
News
December 18, 2025
Japan Petroleum Exploration Co. has agreed to acquire Verdad Resources’ tight oil and gas assets in the Denver-Julesburg basin for about $1.3 billion, marking a major expansion of JAPEX’s North American upstream portfolio. The deal is expected to significantly boost production and proved reserves, with development planned into the early 2030s.
News
December 16, 2025
The Railroad Commission of Texas has named longtime regulator Mark Evarts as director of its Oversight and Safety Division, strengthening leadership over pipeline safety and gas market oversight statewide.
