Conglin Xu

3 weeks ago | ogj.com | Conglin Xu

General InterestEconomics & MarketsOPEC+ accelerates oil supply hike amid tariff tensionsThe OPEC+ alliance unexpectedly announced a larger-than-anticipated supply boost for May, triggering a market-wide reaction. ID 352180676 © Zimmytws | Dreamstime.comOn Apr. 3, the OPEC+ alliance unexpectedly announced a larger-than-anticipated supply boost for May, triggering a market-wide reaction.

3 weeks ago | ogj.com | Conglin Xu

In this latest Market Focus episode of the Oil & Gas Journal ReEnterprised podcast, Conglin Xu, Managing Editor, Economics, dives into insights from the latest Oil & Gas Journal capital spending report. According to the OGJ annual capital spending survey, the combined capex of six major oil companies—ExxonMobil, Chevron, Shell, BP, Equinor, and TotalEnergies—is projected to be US$108-112 billion in 2025.

3 weeks ago | ogj.com | Conglin Xu |Laura Bell-Hammer

According to Darren Woods, ExxonMobil chairman and chief executive officer, through 2030, the operator plans to deploy about $140 billion to major projects and the Permian basin development program. “We expect this capital to generate returns of more than 30% over the life of the investments,” said Woods.

4 weeks ago | ogj.com | Conglin Xu |Laura Bell-Hammer

Natural gas inventory ended the quarter at 3,438 bcf, compared with a 5-year average of 3,224 bcf. US LNG exports averaged 12.64 bcfd during the quarter, compared with 12.97 bcfd in the previous year's fourth quarter. A sample of 13 companies based in Canada, including oil and gas producers and pipeline operators, recorded combined income of $4.9 billion (Can.) in fourth-quarter 2024. In the fourth quarter of the prior year, this group’s combined earnings were $9.96 billion.

1 month ago | ogj.com | Conglin Xu

PodcastsMarket Focus: How Trump energy policies are reshaping the domestic and global energy landscapeIn this episode, Conglin Xu, Managing Editor-Economics, discusses how energy policies of the new Trump administration are reshaping the domestic and global energy landscape.