North America
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.
News
December 16, 2025
Shell has sanctioned a waterflood project at its Kaikias field in the U.S. Gulf, targeting an estimated 60 MMboe of additional recoverable resources and extending production from the Ursa hub into the next decade.
News
December 15, 2025
Chevron has lowered prices for Venezuelan crude sold to U.S. refiners after a tanker seizure in the Caribbean added pressure to an already weak Gulf Coast market. The move comes amid heightened U.S. enforcement actions and softer global oil prices.
News
December 15, 2025
Seadrill is adding new backlog with contract awards in the U.S. Gulf of America/Mexico and Angola, securing follow-on work for three rigs and extending operations into 2027 while avoiding idle time between campaigns.
News
December 15, 2025
Buccaneer Energy is moving ahead with a new waterflood program at its Fouke area assets in Texas, aiming to double or triple recoverable volumes. The plan includes converting two wells for injection, reinstating production at Turner #1, and advancing development work over the next six months.
News
December 12, 2025
The EIA expects U.S. crude production to edge down to 13.5 million bpd in 2026, ending four years of growth as lower prices and regional declines offset gains in the Permian.
