Shangyou Nie

2 months ago | explorer.aapg.org | Shangyou Nie

2025 might turn out to be a mildly active and transitionary year for the oil and gas industry as the world adapts to President Trump’s return to the White House, slow demand growth for oil and gas and a potential partial return of Russian oil and gas to the global market. But just how eventful the year might be will depend on how several key factors shake out in the months ahead. Will Consolidation Continue at Similar Rates?

Dec 1, 2024 | explorer.aapg.org | Shangyou Nie

Many believe the American oil and gas industry will benefit significantly from a second Trump administration, and the market has supported that prediction thus far: Some oil stocks rose more than 3.5 percent after the election results broke. President Trump has not been shy to show his support for the fossil fuel industry and his distaste for the focus on climate change, seeing it as detrimental to the U.S. economy.

Nov 1, 2024 | explorer.aapg.org | Shangyou Nie

BP is reportedly refocusing toward oil and gas. Current CEO Murray Auchincloss will allegedly update BP’s strategy in February 2025 to remove the target of reducing its oil and gas production by 25 percent by 2030. In its 2023 update, BP said it plans to retain some upstream assets from which it was previously planning to divest and will increase capital investment in oil and gas by at least $1 billion annually.

Oct 2, 2024 | energypolicy.columbia.edu | Shangyou Nie |Erica S. Downs

China’s latest Natural Gas Development Report shows the nation made gains last year in efforts to restructure its natural gas market, increasing domestic production and consumption; boosting imports of liquefied natural gas; adopting technologies to boost domestic exploration and production and cut emissions; and reforming pipeline transmission tariffs.[1] The new tariffs are likely to help grow natural gas supplies, reduce end-user costs and increase consumption.

Oct 1, 2024 | explorer.aapg.org | Shangyou Nie

On Aug. 12, 2024, Chevron and its partner TotalEnergies brought the Anchor oil field onstream using 20K technology, which enables production in reservoirs at pressures of more than 20,000 pounds per square inch. Successful and safe deployment of 20K technology by Chevron, BP, Shell and others could unlock more than 2 billion barrels of previously inaccessible hydrocarbon reserves, setting new production records in the Gulf of Mexico. But it has been a long road to get here.