North America
News
January 08, 2026
ExxonMobil, ConocoPhillips and other major U.S. oil firms are examining potential roles in Venezuela’s energy sector following the ouster of Nicolás Maduro, Energy Secretary Chris Wright said.
News
January 07, 2026
Lower oil prices reduced Exxon’s fourth-quarter results by up to $1.2 billion, partially offset by stronger refining margins, as the supermajor becomes the first to flag earnings pressure ahead of reporting season.
News
January 07, 2026
Canadian heavy crude prices weakened after the Trump administration said it would market Venezuelan oil globally, raising concerns about renewed competition for US Gulf Coast refiners and wider heavy crude price discounts.
News
January 07, 2026
U.S. Energy Secretary Chris Wright says the United States will control Venezuelan oil exports indefinitely, using sales revenue to support economic rebuilding and leverage reforms.
News
January 07, 2026
Energy NL has announced the passing of Bob Cadigan, its CEO from 2008 to 2017, remembering his advocacy for offshore Newfoundland and Labrador suppliers and his drive to expand local expertise into global markets.
News
January 06, 2026
IPAA is asking the U.S. Environmental Protection Agency to revise Subpart W methane reporting rules, saying current definitions and emission factors create disproportionate costs for small and marginal-well operators.
News
January 06, 2026
TechnipFMC has been awarded an iEPCI contract by bp for the 20,000-psi Tiber development in the Gulf of America Paleogene, extending the subsea contractor’s backlog in one of the basin’s most technically demanding frontiers.
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.
