January 5, 2026 - Oil & Gas 360

Continental Resources expands Vaca Muerta position through Pan American Energy agreement

January 5, 2026

(World Oil) – Continental Resources has signed an asset sale and purchase agreement with Pan American Energy to acquire non-operated interests in four blocks within Argentina’s Vaca Muerta shale play, further strengthening its footprint in one of the world’s most prolific unconventional basins. The assets are located in the Neuquén basin and will remain operated by Pan American Energy. Financial terms of the transaction

White hydrogen emerges as a wild card in the global clean energy race

January 5, 2026

(Oil Price) – The white hydrogen boom could be within sight based on recent finds in France, the United States, and other parts of the world. However, developers are still not sure of the costs involved with exploiting white hydrogen resources, as well as the technical challenges to accessing reserves, making the outlook uncertain. Unlike other low-carbon forms of hydrogen, such

U.S. blitz against Maduro rattles foreign oil claims worth billions

January 5, 2026

(Oil Price) – Billions of barrels of Venezuela’s oil claimed by major state-owned Chinese and Russian companies under current deals are now in doubt following the U.S. capture of Nicolas Maduro, according to investment bank Morgan Stanley. Oil giant and top Asian refiner China Petroleum & Chemical Corporation, or Sinopec, is entitled to as many as 2.8 billion of barrels under

Chevron shares jump as Trump signals Venezuela oil revival

January 5, 2026

(World Oil) – U.S. oil stocks jumped Monday after President Donald Trump pledged to revive the Venezuelan energy sector following the capture of Nicolás Maduro over the weekend. Chevron Corp., the only American oil major currently operating in the South American nation under special U.S. permission, surged as much as 6.3%, the most since April. ConocoPhillips and Exxon Mobil Corp.

About a dozen oil tankers have left Venezuela despite Trump blockade, data shows and sources say

January 5, 2026

(Investing) – About a dozen tankers loaded with Venezuelan crude oil and fuel have left the country’s waters in dark mode since the start of the year, according to documents seen by Reuters and industry sources including monitoring service TankerTrackers.com. The movements suggest a potential breaking of a strict blockade imposed by U.S. President Donald Trump before the dramatic capture of

U.S. oil blockade forces Venezuela’s PDVSA to slash production

January 5, 2026

(Oil Price) – Venezuela’s state oil firm PDVSA has started reducing oil production and has asked its joint ventures, including those with Chevron, to also cut output, as storage space is running out amid the U.S. naval blockade and oil export embargo. PDVSA has asked Petrolera Sinovensa, its joint venture with China National Petroleum Corporation (CNPC), as well as its joint

Chevron, US refiners’ shares surge after Trump’s move toward Venezuela oil

January 5, 2026

(BOE Report) – U.S. oil companies’ shares rose in premarket trading on Monday as investors bet that President Donald Trump’s move against Venezuela’s leadership would allow American firms greater access to the world’s largest oil reserves. Shares of Chevron, the only U.S. major currently operating in Venezuela’s oil fields, climbed 7.3%, while refiners Phillips 66, Marathon Petroleum, Valero Energy and PBF

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