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Trump nominates oil advocate Kathleen Sgamma to lead BLM, aiming to prioritize drilling and mining on public lands.

Trump taps oil industry insider to oversee drilling on public lands

President Donald Trump has nominated oil and gas advocate Kathleen Sgamma to lead the Interior Department’s Bureau of Land Management, the agency tasked with managing millions of acres of public lands and waters for the benefit of all Americans.

The nomination of Sgamma, who heads a Denver-based oil and gas industry trade group called the Western Energy Alliance, heralds a seismic shift in the management of roughly 245 million acres of public property – about one-tenth of the nation’s land mass.

If confirmed by the Senate, she would be a key architect of Trump’s “drill, baby, drill” agenda alongside Interior Secretary and “energy czar” Doug Burgum. An MIT graduate who previously worked in consulting, she has previously advocated for the BLM to prioritize oil and gas drilling, hardrock mining and livestock grazing on public lands nationwide.

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Source: The Detroit News

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India agrees to buy more US fossil fuels, combat aircraft, and ease tariffs after Modi-Trump meeting at the White House.

Modi hails Trump ‘mega-partnership’ as India pledges to buy more US oil and gas

India has agreed to buy more American fossil fuels and combat aircraft, and to ease tariffs on imported goods, after its prime minister Narendra Modi and US president Donald Trump met at the White House on Thursday.

Mr Trump had repeatedly threatened to impose punitive tariffs against India if it did not make concessions to shrink the trade deficit between the two countries. Hours before the two leaders met, Mr Trump complained about the climate for American businesses in India and threatened tariffs against any country that puts high duties on US imports.

“Prime minister Modi recently announced the reductions to India’s unfair, very strong tariffs that limit us access to the Indian market, very strongly,” Mr Trump said. “And really it’s a big problem I must say.”

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Source: Independent

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The IoT in oil & gas market valuation is predicted to surpass USD 5B by 2034, reported in a research analysis by Global Market Insights Inc.

Internet of things in oil & gas market to reach $5Bn by 2034

The Internet of Things in oil & gas market valuation is predicted to surpass USD 5 billion by 2034. This is from a report in a research analysis by Global Market Insights Inc.

The increasing focus on real-time monitoring, operational efficiency, and improved safety measures are key factors. It will be driving the adoption of IoT technologies in the industry.

Companies in the oil and gas sector are embracing IoT solutions. It is to enhance asset management, streamline production processes, and ensure better environmental compliance. As these technologies become more integrated into operations, strategic partnerships are helping speed up their implementation across various functions within the industry. IoT applications are revolutionizing operations by enabling the collection of real-time data, remote monitoring, and predictive maintenance, which in turn boosts operational performance and safety standards. These advancements allow companies to detect potential issues early, reducing risks and minimizing downtime.

Green technologies and sustainability

The growing emphasis on green technologies and sustainability is accelerating the adoption of IoT in oil and gas operations. As environmental concerns and regulatory pressures intensify, the sector is increasingly turning to IoT solutions to optimize energy usage and track emissions. IoT technologies also help detect hazards, such as gas leaks, and monitor environmental impacts, contributing to sustainable practices. This not only reduces operational costs but also aligns with broader goals for energy efficiency, carbon footprint reduction, and long-term sustainability.

The IoT’s role in promoting greener, more sustainable operations is significant, as it supports the industry’s transition to eco-friendly practices. The green technology market is projected to generate substantial revenue by 2032, reflecting a robust annual growth rate of over 19%. This expansion highlights the growing importance of sustainability in the oil and gas sector.

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Source: Global Newswire

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US energy firms this week added oil and natural gas rigs for a second week in a row for the first time since July 2024

U.S drillers add oil and gas rigs for second week in a row, Baker Hughes says

U.S drillers and energy firms this week added oil and natural gas rigs for a second week in a row for the first time since July 2024, energy services firm Baker Hughes said in its closely followed report on Friday.

The oil and gas rig count, an early indicator of future output, rose by four to 586 in the week to February 7.

Despite this week’s rig increase, Baker Hughes said the total count was still down 37 rigs, or 6% below this time last year.

Baker Hughes said oil rigs rose by one to 480 this week, while gas rigs increased by two to 100.

Growth in oil output from the U.S. Permian basin, the country’s top oilfield, is expected to slow by at least 25% this year despite President Donald Trump’s vow to maximize production, energy executives forecast on Thursday.

While the U.S. is already the world’s top oil producer with output of about 13.2 million barrels per day (bpd) in 2024, total U.S. production growth has slowed in recent years, climbing only about 280,000 bpd last year.

<p class=”yf-1pe5jgt”>The oil and gas rig count declined by about 5% in 2024 and 20% in 2023 as lower U.S. oil and gas prices over the past couple of years prompted energy firms to focus more on paying down debt and boosting shareholder returns while increasing drilling efficiencies to raise output.

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Source: yahoo!finance

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Chevron expects 2025 oil and gas production to rise 6-8% from 2024's 3.34 MMboe/d, according to executives on Jan. 31.

Chevron forecasts 2025 Permian production to climb 9-10%

Chevron Corp., Houston, is forecasting 2025 total oil and gas production will climb 6-8% from last year’s nearly 3.34 MMboe/d, executives said Jan. 31. That growth is expected to pick up in second-half 2025 thanks to projects in the Gulf of Mexico and Kazakhstan but Permian basin assets also are expected to grow production about 10% despite receiving less investment.

Speaking after Chevron reported its fourth-quarter results—net income of $3.24 billion on revenues of $52.2 billion—chairman and chief executive officer Mike Wirth and chief financial officer Eimear Bonner said they are focused on capital efficiency and expect Chevron to grow its free cash flows by $2 billion by end-2026.

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Source: Oil & Gas Journal

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Oil prices have fallen for the second consecutive week, but a major bullish catalyst may be looming in early February.

Why oil prices could spike in February

Oil prices have fallen for the second consecutive week, but a major bullish catalyst may be looming in early February.

Oil prices are set to finish this week some $2 per barrel lower than a week ago as the January ICE Brent futures contract expires just below $77 per barrel. However, the second straight weekly decline could be cut short very quickly if Donald Trump’s February 1 deadline for Canada and Mexico leads to the US slapping punitive 25% sanctions. If the threat does become a reality, the oil bulls will not stop until Brent is back above $80 per barrel.

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Source: Oil Price

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China's oil demand may peak as it shifts to green energy, while Trump pushes U.S. to boost fossil fuel production.

Chinese oil peak demand meets ‘drill, baby, drill’

What happens when the world’s largest oil producer goes all-out to boost production just as the appetite of the world’s largest oil importer may be peaking? Demand of Chinese oil— which has accounted for half of all world oil demand growth over three decades — shows signs of levelling off thanks to slowing economic expansion and an epochal shift to green power and electric vehicles. Returning US President Donald Trump has, meanwhile, declared a national energy emergency intended to boost fossil fuel output, and begun to reverse the Biden administration’s green agenda. In theory, these dynamics might lead to an oil glut and falling prices. The reality is more complex.

The US-China divergence is at root about competing visions of energy security. Beijing’s embrace of renewable energy reflects less a noble conversion to saving the planet, and more a strategic determination to reduce dependence on imported oil. Conversely, alongside the popularity of his “drill, baby, drill” mantra among consumers balking at the costs of the green transition, Trump does not want the US to rely on a green energy supply chain dominated by China.

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Source: Financial Times

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Trump's first-day executive order aimed to boost US energy by easing oil and gas restrictions and revoking Biden's climate policies.

American energy – Trump signs executive order to unleash it

U.S. President Donald Trump signed on his first day in office an executive order to unleash American energy by easing the barriers to oil and gas extraction and production and revoking a series of climate orders by President Biden.

As pledged in the campaign and widely expected to take place on President Trump’s first day in office, the executive order follows the declaration of a national energy emergency.

The declaration includes measures to expedite the delivery of energy infrastructure, emergency approvals by agencies “to facilitate the identification, leasing, siting, production, transportation, refining, and generation of domestic energy resources, including, but not limited to, on Federal lands.”

In the executive order, the President’s sweeping new energy policy is to “encourage energy exploration and production on Federal lands and waters, including on the Outer Continental Shelf, in order to meet the needs of our citizens and solidify the United States as a global energy leader long into the future.”

The Executive Order

The President’s executive order also aims to establish the U.S. position as the leading producer and processor of non-fuel minerals, including rare earth minerals, “which will create jobs and prosperity at home, strengthen supply chains for the United States and its allies, and reduce the global influence of malign and adversarial states.”

The new policy also includes the elimination of the “electric vehicle (EV) mandate” and the promotion of true consumer choice, which is essential for economic growth and innovation, by removing regulatory barriers to motor vehicle access. The measure would ensure a level regulatory playing field for consumer choice in vehicles, the Trump White House said.

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Source: Oil Price

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South Korea plans to boost U.S. oil and LNG imports amid Middle East tensions and Trump’s energy export policies.

South Korea considering buying more US oil and gas, industry minister says

South Korea is interested in importing more U.S. oil and gas to diversify energy sources and ensure stable supplies given tensions in the Middle East, the country’s industry minister Ahn Duk-geun said on Thursday.

The government may need to increase support for the purchase of non-Middle East oil, he told reporters in Seoul.

His comments come as U.S. President-elect Donald Trump, who takes office on Jan. 20, has vowed to impose tariffs of 10% on global imports into the U.S., and said the European Union should step up U.S. oil and gas imports or face tariffs on the bloc’s exports, including on goods such as cars and machinery.

In 2024, South Korea posted a record $55.7 billion trade surplus with the United States, up 25.4% from a year earlier.

South Korea was the world’s fourth-largest buyer of crude oil and the third-biggest liquefied natural gas (LNG) importer.

South Korea has deepened its reliance on crude oil imports from the Middle East, which accounted for 72% of total imports in 2023, up from 60% in 2021, according to the energy ministry.

For LNG, South Korea imported 47.2 million metric tons of the super-chilled fuel in 2024, of which 5.7 million metric tons were from the U.S., according to data from analytics firm Kpler.

Other LNG-importing countries such as Vietnam could also buy from the U.S. to ease its large trade surplus with the world’s top economy, said a senior Hanoi-based diplomat.

The U.S. is the world’s top LNG exporter.

Sources said that Trump plans to make it easier for some LNG producers to seek export permit renewals, while his pick to head the U.S. Energy Department told senators that his first priority is expanding domestic energy production, including LNG.

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Source: Natural Gas World

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OPEC projects

OPEC projects robust oil demand growth for 2025 and 2026

The Organization of Petroleum Exporting Countries (OPEC projects) has released its latest Monthly Oil Market Report (MOMR) that covers major issues affecting global oil markets and provides the outlook for crude oil market developments. OPEC has reiterated its earlier forecast that global oil demand will expand at a robust clip at 1.4 mb/d in 2025, largely driven by strong non-OECD (Organization for Economic Co-operation and Development) growth. OPEC sees non-OECD demand growth clocking in at 1.3 mb/d, compared with just 0.1 mb/d for the 38-member international alliance. According to OPEC, this robust demand will continue in 2026 with global oil demand forecast to grow by 1.4 mb/d Y/Y. Again, non-OECD countries will do the heavy lifting with demand growth expected to come in at 1.3 mb/d vs. 0.1 mb/d for OECD.

On the supply side, OPEC has forecast non-DoC liquids supply (i.e., liquids supply from countries not participating in the Declaration of Cooperation) to grow by 1.1 mb/d Y/Y in 2025, mainly driven by production growth in the United States, Brazil, Canada, and Norway. Non-DoC liquids supply growth in 2026 is expected to clock in at 1.1 mb/d, mainly driven by the U.S., Brazil and Canada. Meanwhile, DoC supply of natural gas liquids (NGLs) and non-conventional liquids are forecast to grow by about 90 tb/d Y/Y in 2025, to average 8.4 mb/d, and by 0.1 mb/ Y/Y in 2026 to average 8.5 mb/d.

The Declaration of Cooperation (DoC) is a loosely coupled organization that started in 2016. It constitutes the coordination between OPEC member countries with 11 non-OPEC oil producing countries (now 10 – Equatorial Guinea became an OPEC Member in May 2017) in a concerted effort to stabilize the global oil market. DoC was effective for an initial period of six months, but has been extended multiple times thanks to its success.

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Source: Oil Price

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