On March 31, 2025 The Trump administration revoked permits and waivers allowing Western energy firms, including Global Oil Terminals, Spain’s Repsol, and France’s Maurel et Prom, to operate in Venezuela. This move further isolates Venezuelan President Nicolás Maduro from global oil markets. Affected companies must wind down operations by May 27, while Global Oil Terminals, led by Harry Sargeant III, must cease financial transactions with PDVSA by April 2 and settle outstanding debts for asphalt oil purchases.

The decision also impacts Venezuelan gas companies with PDVSA contracts and is part of U.S. efforts to pressure Maduro’s regime into democratic reforms. Previously, the U.S. Treasury had issued various permits to international oil and gas firms despite sanctions. Chevron was also given a May 27 deadline to conclude its operations in Venezuela. The U.S. Treasury Department, White House, and State Department declined to comment, while affected companies have not immediately responded.

Visit: https://worldoil.com/news/2025/3/31/trump-revokes-permits-for-u-s-foreign-oil-firms-in-venezuela/

On April 02, 2025, Chevron finalized the sale of a 70% interest in its East Texas shale gas assets to TG Natural Resources LLC (TGNR) for $525 million. The deal includes $75 million in cash and a $450 million capital carry to fund Haynesville development. Chevron will retain a 30% non-operated working interest in a joint venture with TGNR, along with an overriding royalty interest. TGNR is primarily owned by Tokyo Gas (93%) and Castleton Commodities International LLC (7%).

This transaction is expected to generate over $1.2 billion in value for Chevron at current Henry Hub prices through the capital carry, retained working interest, and royalty interest. It aligns with Chevron’s plan to divest $10-15 billion in assets by 2028, optimizing its global energy portfolio while maintaining future upside through the joint venture.

Visit: https://worldoil.com/news/2025/4/1/chevron-sells-70-stake-in-haynesville-shale-assets-to-tokyo-gas-for-525-million/

On April 02, 2025 INEOS Energy completed its acquisition of CNOOC Energy Holdings U.S.A. Inc.’s Gulf of Mexico assets, boosting its global production to over 90,000 barrels of oil equivalent per day (boed)**. This marks INEOS’ third major U.S. investment in three years, following a 1.4 mtpa LNG deal with Sempra (2022)** and the purchase of Chesapeake Energy’s South Texas assets (2023) The acquired portfolio includes non-operated deepwater assets (Appomattox and Stampede), mature fields, and supporting infrastructure, strengthening INEOS’ U.S. offshore presence alongside its onshore operations.  

With over $3 billion invested in U.S. energy assets, INEOS Energy emphasizes a dual-track strategy: securing traditional energy supplies while advancing carbon storage initiatives. The company actively trades oil, gas, power, and carbon credits, while expanding its LNG and CCS (Carbon Capture and Storage) investments. This acquisition reinforces INEOS’ commitment to balancing energy demand with sustainability during the transition to lower-carbon solutions.

Visit: https://worldoil.com/news/2025/4/2/ineos-acquires-oil-and-gas-assets-in-u-s-gulf-from-cnooc/ 

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