Overview
- At the Middle East Gas conference in Dubai, more than 150 executives from major producers and banks outlined plans to expand regional gas systems, including integrated pipelines and LNG capacity.
- Industry leaders said the region must add about 14 billion cubic feet per day by 2030 to reach roughly 86 bcf/d and meet fast-rising electricity needs.
- Aramco reported it is executing a program to raise saleable gas capacity 80% by 2030 versus 2021, targeting about 6 million barrels of oil equivalent per day and an extra $12–$15 billion in operating cash flow.
- OPEC’s December report kept global oil-demand growth forecasts at 1.3 million barrels per day for 2025 and 1.4 million barrels per day for 2026, highlighted continued non-OPEC supply growth, and noted OECD inventories below five-year averages.
- ExxonMobil lifted its profit and cash-flow outlook through 2030, set production guidance at 5.5 million barrels of oil equivalent per day for 2030, and cut five-year low‑carbon spending to $20 billion.