The Oil & Gas Journal ReEnterprised podcast addresses issues facing the petroleum industry in a way that highlights its transformation in light of the energy transition to a net-zero carbon future, as well as the ongoing evolution to a more inclusive and equitable society, With in-depth perspectives from OGJ editors and guests from all facets of the business, the podcast will explore and discuss the ways operators, service companies, and their employees from this historically very traditional industry are working through and finding solutions to these more progressive, nontraditional issues.
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The Oil & Gas Journal ReEnterprised podcast addresses issues facing the petroleum industry in a way that highlights its transformation in light of the energy transition to a net-zero carbon future, as well as the ongoing evolution to a more inclusive and equitable society, With in-depth perspectives from OGJ editors and guests from all facets of the business, the podcast will explore and discuss the ways operators, service companies, and their employees from this historically very traditional industry are working through and finding solutions to these more progressive, nontraditional issues.
Market Focus: Insights from Oil & Gas Journal's latest capital spending survey
Oil & Gas Journal ReEnterprised
12 minutes 24 seconds
7 months ago
Market Focus: Insights from Oil & Gas Journal's latest capital spending survey
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 special report on capital spending.
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. This marks a decrease from $113.7 billion in 2024 and $114.7 billion in 2023 and remains significantly lower than the pre-pandemic level of $123 billion in 2019.
Notably, majors are scaling back on earlier aggressive investments in renewables.
From shifting strategies among oil majors to merger and acquisition activity in the shale sector to new developments in the refining sector and the Canadian oil industry, there’s a lot to unpack.
Oil & Gas Journal ReEnterprised
The Oil & Gas Journal ReEnterprised podcast addresses issues facing the petroleum industry in a way that highlights its transformation in light of the energy transition to a net-zero carbon future, as well as the ongoing evolution to a more inclusive and equitable society, With in-depth perspectives from OGJ editors and guests from all facets of the business, the podcast will explore and discuss the ways operators, service companies, and their employees from this historically very traditional industry are working through and finding solutions to these more progressive, nontraditional issues.
