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Saudi Aramco wants to become a major liquefied natural gas player, especially in the US as its LNG capacity nearly doubles.

Saudi Aramco to sign US LNG agreements during crown prince’s visit to Washington, sources say

Sources familiar with the matter told Reuters that Saudi Aramco is set to sign two U.S. liquefied natural gas supply deals. This is with Woodside Energy and Commonwealth LNG when Saudi Arabia’s Crown Prince Mohammed bin Salman visits Washington next week.

Saudi Aramco, the world’s largest oil exporter, wants to become a major liquefied natural gas player. This is especially in the United States, where they will almost double LNG capacity over the next four years.

It has already signed deals with other U.S. players, including NextDecade’s Rio Grande LNG.

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Source: Oil & Gas 360

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The IEA predicts an increase in oil and gas consumption through 2050, with the US set to remain the world’s largest producer.

IEA predicts increase in oil and gas consumption by 2050

The International Energy Agency’s (IEA) World Energy Outlook predicts an increase in oil and gas consumption through 2050, with the US set to remain the world’s largest producer.

The IEA projected that oil demand could reach around 113 million barrels per day (mbbl/d) by mid-century, an increase of roughly 13% from 2024 consumption.

The agency also predicted that global liquefied natural gas (LNG) capacity could expand to roughly 1.02 trillion cubic metres.

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Source: yahoo!finance

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The total number of active drilling rigs for oil and gas in the US rose this week, Baker Hughes reported Friday.

Oil and gas rig count ticks up in the US as production hits new high

The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday. Let’s talk more about oil and gas rig count.

The total rig count in the US rose to 548 this week, according to Baker Hughes, down 37 from this same time last year.

The number of active oil rigs stayed the same in the reporting period, according to the data, at 414. Year over year, this represents a 65-rig decline. The number of gas rigs rose by 3 to 128, which is 26 more than this time last year. The miscellaneous rig count fell by 1 to 6.

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Source: Oil Price

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British oil giant BP on Tuesday reported third-quarter net profit of $2.21 billion, beating analyst expectations.

BP beats third-quarter profit expectations on higher oil and gas production

British oil giant BP on Tuesday reported stronger-than-expected third-quarter profit as higher crude and gas production outweighed a weak oil trading result. Does BP beats third-quarter? Let’s see.

The London-listed oil and gas major posted underlying replacement cost profit, used as a proxy for net profit, of $2.21 billion for July-September period. That beat analyst expectations of $2.03 billion, according to an LSEG-compiled consensus.

BP’s third-quarter net profit came in at $2.3 billion last year and $2.35 billion in the second quarter of 2025.

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Source: CNBC

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ExxonMobil acquired 80,000+ net acres in the Permian Basin from China’s Sinochem, boosting its U.S. oil footprint.

ExxonMobil adds to Permian portfolio with 80,000-acre buy

ExxonMobil adds more than 80,000 net acres in the Permian basin from Chinese state-owned conglomerate Sinochem, the US supermajor revealed Friday in its quarterly earnings report.

The deal was struck sometime in the third quarter, according to them, which did not reveal specific financial terms for the agreement.

However, chief financial officer Kathy Mikells said ExxonMobil made “a couple of acquisitions” in the quarter that totalled $2.4 billion.

“The transaction provides control of drilling locations and opportunities to further deploy our technology to drive greater returns,” ExxonMobil chief executive Darren Woods said on Friday during the company’s third quarter earnings call.

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Source: upstream

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Energy Secretary Chris Wright said the US is prepared to sell more oil and natural gas to China if Beijing cuts back on purchases from Russia.

USA Energy Sec says USA is ready to sell more oil, gas to China

Chris Wright, the USA Energy Sec is saying that the US is ready to sell more oil and natural gas to China if Beijing reduces its purchases from Russia.

“There’s so much space for mutually beneficial deals between the US and China,” Wright said Thursday during a Bloomberg Television interview, noting that the US is the world’s largest oil and gas exporter, while China is the biggest importer.

The energy secretary plans to travel to Asia within weeks, or possibly sooner, following President Donald Trump trip to the continent this week.

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Source: Rigzone

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Chevron CEO Mike Wirth discusses how US energy dominance ties to national security while praising Trump-era policies.

Chevron CEO applauds Trump administration’s energy policy shift during Permian Basin tour

In an exclusive conversation with FOX Business’ Maria Bartiromo during a tour of the Permian Basin, Chevron CEO Mike Wirth said America’s vast energy resources are not just an economic advantage – but also a matter of national defense – while praising President Donald Trump’s energy initiatives.

Wirth said, “Energy security and national security are linked,” in a preview of his interview on “Sunday Morning Futures,” which will air in full on “Mornings with Maria” Monday.

“He continued that an abundance of natural resources blesses the U.S.” “And we now have an administration that wants to see the energy industry invest in those resources to make sure that America’s energy strength translates into economic strength and competitiveness and, importantly, security.”

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Source: Fox Business

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ExxonMobil currently produces 1.5M bpd from its Permian Basin holdings, with plans to increase that to 2.3 million barrels per day by 2030.

ExxonMobil targets 2.3 million barrels a day in Permian by 2030

ExxonMobil targets set officials, like all other oil and gas producers, are closely watching the current economic climate. The company recently announced a reduction of 2,000 jobs — none in the U.S. — as part of a long-term restructuring plan.

“We are worried about prices,” said Rich Dealy, vice president, Permian Basin, with ExxonMobil.

Addressing Hart Energy’s Dug Permian conference, he continued, “Our depth of inventory is impressive even at current prices.”

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Source: mrt

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China’s strong oil buying supports global prices, stabilizes markets, and strengthens energy security amid U.S. and OPEC+ changes.

China is soaking up oil imports, and the US and Russia are reasons why

There is a mystery at the heart of the global oil market and oil imports. China has soaked up a torrent of oil imports this year, filling tanks and underground caverns. Without this, prices would be much lower. But why is Beijing snapping up oil it doesn’t obviously need? How much is it going to keep buying? And for how long?

The first part of the puzzle is exactly how much crude the Middle Kingdom has absorbed. It does not release figures for storage capacity or volumes, so they have to be estimated. Its aboveground tanks can be assessed by satellite, but a growing portion of its capacity is now below-ground. The amount going into storage can be approximated by looking at the difference between the sum of imports and domestic production on the one hand, and the amount refined on the other.

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Source: The National

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India plans to boost US oil and gas imports to diversify energy sources amid U.S. criticism of its Russian oil buys.

India seeks to import more US oil and gas under pressure from Trump to stop Russian oil purchases

India seeks to import more US oil and gas and to step up purchases of crude oil and natural gas from the U.S. as it diversifies its energy supplies and confronts criticism by U.S. President Donald Trump over its imports of discounted Russian oil.

Trump said Wednesday that Indian Prime Minister Narendra Modi had personally assured him his country would stop buying Russian oil, in a move that might add to pressure on Moscow to negotiate an end to the war in Ukraine.

“There will be no oil. He’s not buying oil,” Trump said. The change won’t take immediately, he said, but “within a short period of time.”

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Source: AP News

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