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.

With this episode, Oil & Gas Journal kicks off a new series within the ReEnterprised podcast: The Business.

In these sponsored The Business episodes, Oil & Gas Journal will talk with companies across the energy space about their latest activities.

In this episode, "Rapid Response Fabrication: Delivering When It Matters Most," we are joined by Dan Creech, executive vice-president of strategy and business development for Enerfab Process Solutions.

Listen in to learn about Rapid Response Fabrication, how it was developed, and how it’s executed to get operations safely back underway in the shortest time possible.

In this Market Focus episode of the Oil & Gas Journal ReEnterprised podcast, Conglin Xu, Managing Editor-Economics, discusses how energy policies of the new Trump administration are reshaping the domestic and global energy landscape.

Since his inauguration, Pres. Trump has has wasted no time in rolling out orders and policies, and the energy sector is already feeling the effects.

In this episode, Xu dives into key developments and what they mean for the market, starting with the administration's stated priority to boost domestic energy production through deregulation and accelerated permitting.

Enjoy the episode and want to read more about these and other government actions that impact the oil and gas landscape? Find more coverage at OGJ.com/general-interest/government.