Oil and Gas This Week | Happy New Year | Ep 395

Summary

Oil and Gas This Week | Happy New Year | Ep 395
Hosted by: Mark LaCour & Paige Wilson
Date: January 22, 2026

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Episode Overview

Mark LaCour and Paige Wilson kick off 2026 with industry insights, global headlines, and some candid commentary on oil and gas events shaping the new year. The hosts highlight key discoveries, geopolitical developments, and infrastructure projects, sharing both optimism and critical analysis throughout. Listener interaction—including a detailed review from a New York oilman—sparks discussion about regulatory pressures, industry misconceptions, and the realities of energy politics.

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Key Discussion Points and Insights

1. Show Returns & Audience Shoutouts

• The hosts celebrate their post-holiday return and acknowledge their global audience—especially a surprising ranking in Bolivia.
  Quote: “This podcast ranks number one in Bolivia. Thank you for our listeners there in the business section.”
  — Marc LaCour [00:52]

2. Industry Feedback and Regulatory Concern

• Listener “Richard” from New York submits a detailed review, discussing production challenges and his discomfort with anti-oil rhetoric from officials.
• Mark and Paige emphasize that while some public statements are concerning, politicians are learning the value of the industry as it impacts votes. Quote: “Not only are we not disappearing, we’re growing. And the same people that don’t like us support us with their checkbook.”
  — Marc LaCour [03:14]

3. Major News Stories

Massive Permian Basin Discovery

[03:46]

• US Geological Survey revealed enormous new oil & gas reserves beneath the Permian Basin (30 trillion cubic feet of gas, 2 billion barrels of oil).
• Mark lauds USGS for outpacing industry operators in discovery depth and scope. Quote: “The sun will run out of hydrogen before the earth will run out of oil and gas.”
  — Marc LaCour [03:54]

U.S. Completes First Venezuelan Oil Sale

[04:48]

• US brokering first sale of Venezuelan crude since regime change; focus on geopolitics and Venezuela’s infrastructure decay.
• Heavy, sour crude is challenging to refine; U.S. is one of the few with capacity and proximity. Quote: “Our current administration doesn’t want the oil. This is a piece of a bigger picture.”
  — Marc LaCour [04:55]
• Mark recounts a harrowing refinery tour in Venezuela: “I could smell benzene... Stuff was leaking on the ground all over the place. Honestly, things were held together with coat hanger wire.” [07:17]

Chevron’s Leviathan Gas Expansion

[08:50]

• Expansion off Israel to add 21 billion cubic meters/year of gas; joint ventures help offset risk.
• The Eastern Mediterranean is a growing natural gas hotspot.

Energy Transfer’s Transwestern Pipeline Expansion

[10:13]

• Pipeline diameter expansion will boost capacity to 2.3 Bcf/d; long-term strategy to increase access to California markets. Quote: “I think this is genius… even if I’m wrong about that, the expansion project could be financially in the black.”
  — Marc LaCour [10:19]

Continental Halts Bakken Drilling

[11:18]

• Continental Resources pauses drilling due to low prices; Mark and Harold Hamm disagree on how long oversupply will last (Mark: 6 months, Harold: 18). Quote: “This is what happens for every operator in the world. When prices get low enough, they quit working because it costs them money and they can’t make it back.”
  — Marc LaCour [11:21]

Oil Stable as Iran Fears Ease & Greenland in Spotlight

[12:35]

• Easing military concerns in Iran stabilizes oil markets.
• Discussion on potential economic control over Greenland and the geopolitics of resource extraction. Quote: “Whoever does that is going to end up controlling the economy, which eventually will end up controlling the politics.”
  — Marc LaCour [13:19]

Venezuelan Crude Rerouted to U.S. Refiners

[14:19]

• U.S. moves to benefit from Venezuela’s crude previously destined for China; Mark explains China’s “predatory” investments in Venezuela and Africa. Quote: “China doesn’t look at things in quarters or years or even decades. They’re looking at this very long term.”
  — Marc LaCour [15:24]

EU’s Growing Reliance on U.S. LNG

[16:59]

• EU could need up to 80% of LNG imports from the U.S. by 2030; hosts rebut negative media framing. Quote: “If you want anybody supplying your energy… it’s probably us.”
  — Marc LaCour [17:13]
• “Suck it, Piers Morgan.”
  — Paige Wilson [17:57]

ADNOC Gas Signs 10-Year LNG Deal with India

[19:05]

• $3B contract with HPCL (India) supports decades of growth and energy transition in the world's largest democracy.

Vietnam Secures $1.13B LNG Power Plant Loan

[20:21]

• Multi-bank funding for a 1,500MW LNG plant, signaling further LNG adoption in Asia-Pacific.

TechnipFMC Wins Mozambique FLNG Project

[21:36]

• TechnipFMC awarded major subsea contract for floating LNG off Mozambique, exemplifying the boom in global LNG infrastructure.

Chevron Houston Marathon’s Charitable Impact

[23:07]

• Chevron’s marathon initiative raised over $41M for local charities since 1995; the hosts praise industry’s overlooked community support. Quote: “Chevron doesn’t market this, doesn’t use this for PR… We’re going to do it for you.”
  — Marc LaCour [23:28]

4. Market Updates

Weekly Rig Count [25:44]

• U.S.: Down 1 (543)
• Canada: Up 29 (226)
• International: Down 8 (1,065)

5. Fun & Listener Engagement

• Giveaways for commenting on OGGN’s YouTube channel.
• Shoutouts for newsletter signups and LinkedIn interactions.
• Industry merchandise, including women’s leisurewear and kids’ clothes in high demand.
• Ongoing encouragement for community questions on future Q&A episodes.

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Notable Quotes & Memorable Moments

• “You don’t burn ExxonMobil three times.” — Marc LaCour [06:32], on the caution U.S. supermajors have with investing in Venezuela after past nationalizations.
• “If ten wells combined make two barrels a day, we consider that a good lease.” — Listener Richard’s review, as read by Paige Wilson [01:23], capturing small operator reality.
• “I could smell benzene. You’re not supposed to smell. Oh, no.” — Marc LaCour [07:17], vividly describing neglected Venezuelan refinery conditions.
• “It bothers me… the way our current administration worded the way we wanted to take care of Denmark.” — Marc LaCour [18:31], on the sensitive geopolitics around Greenland/EU.
• “We all want the world to be peaceful and we want the world to be prosperous… the sentiment is right, the way they articulate it could have been improved.” — Marc LaCour [18:54], discussing diplomacy and public messaging.

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Timestamps for Major Segments

• [00:27] – Welcome and global audience recognition
• [01:23] – Listener Richard’s lengthy review, discussion of regulatory fears
• [03:46] – Permian Basin mega discovery
• [04:48] – First post-Maduro Venezuelan oil sale and infrastructure discussion
• [07:17] – Venezuela refinery anecdote
• [08:50] – Chevron Leviathan Gas news
• [10:13] – Energy Transfer pipeline expansion
• [11:18] – Continental/Bakken drilling halt analysis
• [12:35] – Iran, Greenland, geopolitics’ effect on oil pricing
• [14:19] – Venezuela crude’s shift from China to US refiners
• [16:59] – EU’s growing U.S. LNG dependence
• [19:05] – ADNOC 10-year LNG contract with India
• [20:21] – Vietnam’s new LNG-fired power plant
• [21:36] – TechnipFMC’s floating LNG contract win
• [23:07] – Chevron Houston Marathon’s cumulative charity contributions
• [25:44] – Weekly rig count
• [26:05] – Show wrap-up, merchandise, and listener engagement

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Summary Takeaway

Episode 395 provides a rapid yet comprehensive round-up of new year’s oil and gas developments—from headline discoveries and shifting global supply chains to the impact of geopolitics and the generosity of industry leaders. Mark and Paige blend world-scale issues with down-to-earth anecdotes and listener stories, all while inviting ongoing participation and tackling even the trickiest headlines with humor and clarity. The tone remains conversational, candid, and optimistic, making the episode accessible and engaging for energy professionals and industry outsiders alike.

Transcript

[Marc LaCour]

Foreign. You're listening to the Oil and Gas this Week podcast with Marc LaCour and Paige Wilson. This is the show for busy oil pros who quickly want to keep their finger on the pulse of the industry.

[Paige Wilson]

You're listening to Oil and Gas this week. This is a show for busy oil pros who want to quickly keep their growing the pulse of the industry. Thanks for joining us for episode 395 and happy new Year, everybody.

[Marc LaCour]

Happy New Year, everybody. And yes, we're back. Yeah, we heard all of you. All one million billion of you. That said, where's the podcast? You said you would be back in the new year. It took us a little bit. We've been busy.

[Paige Wilson]

Well, not only that, we're both getting over being sick. I. You can probably still hear it in my voice.

[Marc LaCour]

But yeah, excuse our voices between. When you travel globally like we do, sometimes you pick up global illnesses. Paige, you want to know something really cool? What do you want to know? Who has the number one podcast in the world in Bolivia, in business? Who? It's us. Oh, this podcast ranks number one in Bolivia. Thank you for our listeners there in the business section. So not just energy, not just all.

[Paige Wilson]

I don't even know where Bolivia is.

[Marc LaCour]

It's a beautiful country, actually. Actually, we have quite a few listeners over there, apparently. Yep. We also have a review. You want to read it?

[Paige Wilson]

Yeah. It's a long one. Thanks to Richard. 5 stars. Oil and gas conference. Last show is very good as usual. It's always fun to hear what's going on in the rest of the world of oil and gas, along with hearing Mark and Paige's opinions and predictions. We are in the small oil field of western New York known as the Bradford district, where secondary Recovery was established 100 years ago. And now we're just stripping the wells naturally. And if ten wells combined make two barrels a day, we consider that a good lease. There's a lot of oil down there. It just comes out very slow. But we're being optimistic and counting on Mark's predictions to come to pass. Oil's gonna go up. I was a little disturbed by the report from the conference where the public servant, public official or person in a regulatory body kept talking about how to get demand down. We may or may not need to get demand down, but the fact that a regulator would say that out loud is usually an indication that he is in a personal prejudice that calls for the end of the use of crude oil and natural gas. And it seems a conflict of interest to have someone like that in a position of authority that regulates the industry. My fears may be unfounded, but the books are full of stories of producers who have been made to suffer at the hands of state environmental agents who have an agenda. Thanks for all your work, Richard.

[Marc LaCour]

Richard, your fears are not unfounded. I have the same fears, except now not so much. Politicians are learning that the oil and gas industry not only is not going anywhere, but when you start messing with us, it costs them votes. And so they're switching their song. Paige, I don't remember where this happened. I think it happened when we were recording a podcast live at Orchestra. I think somebody came on stage and

[Paige Wilson]

I have a lot of things to say about that stage.

[Marc LaCour]

I remember the person which by the way, Richard, he's not a regulator, he's a PR person for a company, if I remember right. I have a lot of problems with people that like to say that sort of stuff publicly as well. But Richard and audience, the best thing is the people that don't like our industry can talk about how it needs to disappear or it is disappearing or renewables. Yeah, it doesn't matter. Not only are we not disappearing, we're growing. And the same people that don't like us support us with their checkbook. So just remember that one, Richard. Just smile every time you hear something like that. And thank you for the review and if you would like to leave a half a novel like Richard did, we were happy to read it because it was great. You got a five star review. Leave us a review and we'll absolutely read it on the air. Ready to get the news stories?

[Paige Wilson]

Yeah. Okay, first up, we have massive untapped oil and gas reserves discovered beneath the Permian. What will it take to tap it?

[Marc LaCour]

Yeah, so this is literally a bigger part of the Permian basin. At a much deeper depth than they normally drill, they found about 30 trillion cubic feet of gas and about 2 billion with a B barrels of oil. When I'm always saying, hey, the sun will run out of hydrogen before the earth will run out of oil and gas and that we haven't discovered all the reservoirs. The Permian is one of the oldest, most prolific basins on Earth. And we just made another discovery. Just deeper down people, it doesn't end. No worry about ever running out of common sense. Yeah. But this U.S. geological Survey, they've already accessed the available reserves and they've made this enormous discovery. Now the interesting to me page with all the operators there been operating, nobody else found it but our government, it's using the opposite way. So I'm going To tell you right now, a big huge shout out to USGS for actually finding this when nobody else did. Hats off men and women that work over there. You did a really great job. Yeah. And this is just wonderful news. What's next?

[Paige Wilson]

Next up we have US complete first sale of Venezuelan oil valued at 500 million with an official say.

[Marc LaCour]

Yeah, so since Paige and I took our holiday and came back, whole bunch of stuff has happened at high level. Before I get into this article, I want to talk a little about Venezuela. First thing is Venezuela has a large reservoir of very heavy, very sour crude. That oil is valuable. Unfortunately, it's not valuable today. That oil is better fitted for making road toppings and shingles for houses than jet fueled diesel or petrochemicals. It takes a lot of technology to refine it. The US is one of the few countries in the world that can refine it. And Venezuela is right down the street. And a lot of people that don't understand our industry saying that our current political administration is basically taking over Venezuela for the oil. We don't want the oil. Our current administration doesn't want the oil. This is a piece of bigger picture. This involves the geopolitics with Cuba and the rest of the world in Venezuela, with Guyana, with Trinidad and Tobago. There's a lot going on here. This is much more than the US just wanting Venezuelan want. Like I said, we don't really want it right now. And if we did want it, there's no way to get it off the ground in bulk in order to make some money. However, this is the first sale the US government has made since we've removed the president of Venezuela. Maduro is actually sitting in a jail cell somewhere, probably listen to this podcast. You also know that our president met with a bunch of U.S. oil and gas executives just recently and basically all the rest of them had to push Darren woods up, the CEO of ExxonMobil to talk first. And Darren woods told the President that he had assets seized not once but twice with the nationalization of Venezuela. And they're not fricking going back until they have promises that there's going to be political stability there for a long time and they need to invest.

[Paige Wilson]

Are you blame them?

[Marc LaCour]

No, not at the worst thing they could do is go back for a third time, invest a billion dollars and then within a couple years it's nationalizing it kicked out again. They're not going to be burned. You don't burn ExxonMobil three times. The White House needs to be able to figure out A way to assure the EPC companies and the super majors, not just the US and European super majors, but also nationalized oil companies around the world, that they can provide political stability for at least 50 years. Not 10, not 20, not 30, 50. And then maybe these big companies will make an investment in Venezuela. I really hope so. I had a chance to tour Venezuela a million years ago and Paige, I walked into a refinery. This is after the nationalization last time. And I've been in a bunch of refineries around the world and this was the scariest refinery I've ever been to. First thing.

[Paige Wilson]

Oh, I don't doubt that.

[Marc LaCour]

I could smell benzene. You're not supposed to smell. Oh, no. Stuff was leaking on the ground all over the place. Honestly. Things were held together with coat hanger wire.

[Paige Wilson]

Oh my God.

[Marc LaCour]

There was steam being let loose everywhere. There was valves that had no packing. One of their three crackers literally was laying on the ground sideways. It was horrible. And this was a long time ago. Ago. Venezuela needs a lot of investment in infrastructure that they don't have the money to do. If somebody makes that infrastructure like us or maybe some other companies or countries, it'll help the Venezuelan people who have been poor and taken advantage of for 20 years now. They've been selling oil basically to buy beans and rice to feed their people. You can't get medical supplies, you can't get books. Damn sure. Yeah, it's really horrible over there. I'm really hopeful for the Venezuelan people this goes in the right direction. But back to the sale of $500 million. Our current president brokered this deal. The goal is to actually take this heav heavy sour crude, sell it and then take that money and then use that money to go back and turn and help grow the infrastructure which will help the Venezuelan people. It's way too early to see where this is going to go, but we will absolutely keep an eye on this. And I have my fingers crossed for the people of Venezuela.

[Paige Wilson]

Yeah, absolutely. I've seen a lot of jokes about America just going wherever the oil is. So it's refreshing to hear the true facts about what is really going on.

[Marc LaCour]

A lot of people out there. There is some truth to having conflicts and wars fought over oil, but it's not really over oil. It's around the economic might that brings st. It brings to our energy grid bigger stuff. But it's too early to figure out where this is going. Although it is very interesting to have.

[Paige Wilson]

It sounds strategic.

[Marc LaCour]

Yeah. Very interesting thing to have happen while we were taking a Break.

[Paige Wilson]

Yeah, yeah. And much more to go around after that. All right, Chevron takes final investment decision on Leviathan Gas expansion.

[Marc LaCour]

Yeah. So this is off the coast of Israel, if I remember correctly, the eastern Mediterranean is becoming a hot, interesting natural gas. Yeah, no, this is great. This is great for everybody. This is going to help have other countries and companies be able to compete against OPEC in their own backyard. This project is. They're going to expand of what they've already done. So they're going to drill more additional offshore wells, more subsea tiebacks, more infrastructure, more processing and treatment facilities on the platform itself. They want to increase total natural gas delivery to Israel and that part of the world by 21 billion cubic meters annually, which is amazing. This is about 10 miles offshore Israel. And there's a working interest. So we're talking about Chevron right now, but New Med Energy and. And if I remember right, Ratio Energies also own a percentage of this. And if you ever wonder why, there's usually joint ventures and big offshore projects like this, it basically mitigates the risk. This way, Chevron, if something really bad happen, doesn't lose all the money that they have partners that also can lose money, which then spreads that financial risk around. At the same time, they knock it out of the park. They all benefit of it. You also remember Chevron is the operator of two blocks around Egypt. And like I said, that part of the Mediterranean is a hotbed. It's going to continue to grow. But good job for Chevron for making the final investment decision on this. I think they're going to knock it off the park.

[Paige Wilson]

All right, next up we have energy transfer to upsized transwestern pipelines. Desert Southwest expansion project.

[Marc LaCour]

So if you read this, they're talking about increasing the diameter of the pipe physically, which is going to increase the capacity to about 2.3 billion cubic feet per day. There's a lot of demand for this natural gas in that part of the country. Valero people. California, Valero just laid off literally today, a bunch of people as they shut down that refinery. California, you're running out of ways to get hydrocarbons to your state. Got a feeling energy transfer is looking at this a bit more strategically than just increasing the size of the pipe. Oh, yeah. I think this project is. They're gonna upsize it, which they're doing. They're gonna spend the money. It's not a small investment. I think it's over $5 billion. And I think what they're trying to do is get large amount of natural gas that can move quickly closer to California. If I'm right about that energy transfer, I promise I won't tell anybody, except that too many people just heard me say it. I think this is genius. And even if I'm wrong about that, the expansion project Cells could be financially in the black. So it be good. Good job, energy transfer.

[Paige Wilson]

All right, next up, we have Ham to halt drilling in the Bakken shale.

[Marc LaCour]

Hey, Harold, you and I agree on this 100%. Prices have gotten so low that Continental is pulling out of the Bakken. They're going to quit drilling there until prices come back. There's a lot of people out there looking at this as doom and gloom. Oh, my God, Harold. Ham is pulling out. They'll never go back. It's the end of. No. This is not what's going on. This is what happens for every operator in the world. When prices get low enough, they quit working because it costs them money and they can't make it back. When prices go up, they go back to working. Now, Harold, Ham and I agree on the fact that there's not enough back supply to fill the demand. As we use up this oversupply, it's the time that him and I disagree upon. We'll see who's right. Harold thinks it's gonna be 18 months before we eat up that oversupply, and then we're gonna be in the opposite problem. There's not enough backfill. There's enough drilled, uncompleted wells, and prices go through the roof. You're not gonna be able to hire enough people. You're not gonna be able to find parts and pieces. I don't think it's 18 months. I think it's six months. Harold, I met you. I don't actually know you, but we should have a side bet on who gets this.

[Paige Wilson]

He also should come on the industry leaders podcast, to be quite frank.

[Marc LaCour]

Yeah, 100%, if you work Continental. Let's get Harold on Paige's show, the industry podcast. He is an amazing guy. I've heard him speak a million times.

[Paige Wilson]

Yeah.

[Marc LaCour]

Super smart. And actually, he's one of the pioneers of hydraulic fracking.

[Paige Wilson]

I know.

[Marc LaCour]

That's why I'm like, let's get him on your show, people. Help us make that happen.

[Paige Wilson]

All right, next up, oil studies. As Iran supply fears ease and Greenland moves into the spotlight.

[Marc LaCour]

I'm sorry, people, I have to talk about it. I don't want to, but I have to. Yeah, even I was a little bit worried about what was going on in Iran. It's still Going on. I thought the US was going to step in militarily. That option is still on the table, but I don't think they will. Which means that the instability that would cause by the US coming in and what production Iran has left being tanked is not going to happen. So prices have stabilized. However, the Greenland thing, The rest of the world. The rest of the world, I'm sorry, in the way our current administration has verbalized the way that we want to take over Greenland.

[Paige Wilson]

No kidding.

[Marc LaCour]

Because it sounds really horrible.

[Paige Wilson]

It sounds really bad.

[Marc LaCour]

Yeah. The reality is somebody is going to have a major economic and mining interest in Greenland. And whoever does that is going to end up controlling the economy, which eventually will end up controlling the politics. And whether you like it or not, it's going to be somebody other than Denmark and it's not going to be Greenland. Do you want China to do it?

[Paige Wilson]

No.

[Marc LaCour]

You want the US to do it? None of the European countries can get together nor have enough capital or engineering expertise to actually do this sort of thing. And boy, I'm going to get some hate mail for that one. But sorry, I'm not sure where this thing with Greenland's go. But just like drilling in the Arctic, you got to figure out somebody's going to do it some point in the future. Somebody's got to end up owning the economy of Denmark. Not Denmark, I'm sorry, Greenland in the future. You just got to figure out who you want that to be. However, even this Greenland sovereignty discussion is affecting commodities, including oil and gas. Right? So in a weird way, trying to price crude natural gas right now is as much of a guessing game as it's ever been. We will keep eye on this and

[Paige Wilson]

see where it goes. We don't have much of a choice. All right. Venezuelan crude rerouting favors US refiners over China.

[Marc LaCour]

All right. You can read this article. It's a bunch of cool stuff about the US military and Maduro's arrest and what's going on. Caracas and Venezuela used to be a major producer, blah, blah, blah. Let me tell you the reality. China invested a lot in Venezuela on purpose.

[Paige Wilson]

I thought so.

[Marc LaCour]

Almost think of it as those loans that make loans in your car title. It's predatory, right? They charge amazing different crazy amount of interest, crazy money. They figured out that you could get a loan for your car title and you'll make just enough money to be able to pay your bills and then you'll need to borrow from them again and they keep pulling from your paycheck and it's endless Trap. Venezuela did the same thing with China, although it had nothing to do with car titles, had to do with China investing money in Venezuela at. In terms that Venezuela couldn't pay back. So what happens is China then owns their oil production, the oil that Venezuela was shipping out a lot of.

[Paige Wilson]

Now I understand what's going on.

[Marc LaCour]

Yep, yep. And now that we have stopped that and stopped what they did, it's no longer we routed to China. Like I said earlier.

[Paige Wilson]

Sorry, China.

[Marc LaCour]

Yeah. Like I said earlier, the US is one of the few countries that can properly refine that heavy sour crude. We don't want to right now because there's an oversupply in the market. And like I said, there's enough asphalt in the world today and enough roof shingles. But somewhere in the future that won't be the case. And this will be a profitable thing. This oil that was going to China now will come to the U.S. now we have to figure out the economics, the business agreements, the tariffs and the international rules and regulations to Venezuela to be able to ship that oil to the us. Chevron was doing this off and on for years, but they're doing it at a penalty of profit. They didn't make the profit they should have made. This would be once it's the right time. This could be much higher profit. This is a, I think, in some ways, a very smart move by the US government. I don't think China is a threat to the US and Europe. From a military point of view, they could be. But what it really is, it's an economic game. And China doesn't look at things in quarters or years or even decades. They're looking at this very long term. And I think there's an economic battle going on between Europe, the US and China, and we're gonna see who China needs to fuel it. Economic. And this is one of the ways they were doing it. It's not just Venezuela that China went into cut deals where it actually benefits China. It's other countries, a lot of countries in Africa as well. I think this is a smooth move by the US to counter that. And at the same time, the rates that we'll pay Venezuela for their crude, and if we decide to start mine, it will be much more than what China was paying, which is to help the people there. If we can keep corruption out of it, which. That's the hard part.

[Paige Wilson]

Yeah, that's the hard part. What a way to start the year with this show.

[Marc LaCour]

I'm telling you, it keeps going.

[Paige Wilson]

All right, next up, we got EU could rely on you for up to 80% of LNG imports by 2030. Report warns.

[Marc LaCour]

Yeah, read that last two words again.

[Paige Wilson]

Imports by 2030. Report warns.

[Marc LaCour]

Why do you write this as it warns?

[Paige Wilson]

It's media.

[Marc LaCour]

I know. Let me tell you, Europe, even though they have abundant natural gas all around them and they even could frack, they have some of the right geology, they choose not to. They have to buy natural gas from somewhere and forever. Russia supplied natural gas and Russia had a chokehold in Europe. Now we're supplying it. It's actually a good thing that we're supplying up to 80 of their natural gas needs through LNG up until 2030. So it shouldn't say report warns. It should say report celebrates Europe. If you want anybody supplying your energy freezing desk, it's probably us. You got to remember a long time ago, we were you and then we had that little fight thing in 1776. But we still love you. This is not the EU having some type of horrible reliance on us. LNG. This is EU partnered with us.

[Paige Wilson]

Suck it, Piers Morgan.

[Marc LaCour]

Yes, we can supply them with energy instead of Russia. I talked about this. Must have been a decade ago I started talking about this and it's actually, actually happening. It's an amazing thing. It's a positive thing. There's still some cost concerns because we're still early in that journey. So the LNG that's being shipped to Europe is more expensive than the natural gas that was shipped by pipeline from Russia. Give us a couple of years and we'll get that price down probably below what Russia was shipping natural gas in a pipeline for. I love this. This should continue. And it just, it bothers. The only thing that bothers me is because of the way our current administration worded the way we wanted to take care of Denmark. Now Europe.

[Paige Wilson]

Yeah, I know.

[Marc LaCour]

And Europe, we all love you. We all want the world to be peaceful and we want the world to be prosperous. Regardless of how our government words things, just know the common American people does not want us to go and take over people's sovereign land. We just don't and we won't. Regardless of what our current administration says, the thought and the sentiment is right. The way they articulate it could have been improved upon greatly.

[Paige Wilson]

Absolutely. Absolutely.

[Marc LaCour]

That was a good way of me being politically correct. If you want to hear me not be politically correct, listen to behind the Curtain after the show.

[Paige Wilson]

All right, next up we have adnoc gas signs 3 billion with a B10 year LNG supply deal with HPCL.

[Marc LaCour]

HPCL. That's India once again another booming economy in the world. India is the largest democracy in the world. The energy needs are going through the roof. They're trying to bring and India has some really, really poor people. They're trying to bring their poor people up to more middle class. They're growing. They'll pass China both up GPD and population if they haven't already haven't checked today. This is fantastic. This is ADNOC g deepening their relationship with India, the two countries. India is going to be a long term buyer of energy and whether that's coal, oil, natural gas, whatever they need it for their people and that growth will continue to go up. In fact, I suspect India's need for energy will surpass China too in my lifetime, which is amazing to even think about. So this is just ADNOC making a long term agreement with several Indian companies. I think it's about $20 billion worth of LNG that they've agreed to broker between the two of them. And then by 2029, which is not that far away, Adnoc expects to be send 15 to 16 million cubic feet of LNG capacity to Indian buyers, which is fantastic. The more we get this global infrastructure built to be able to move LNG around the world, the better it is for everybody. What's next?

[Paige Wilson]

Vietnam's EVN secures 1.13 billion loan for LNG fired powered plant I've been to

[Marc LaCour]

Vietnam, it's a wonderful country. It does bother me. There's Hilton Hotels and Burger Kings there now. Nothing against Burger King, Hilton Hotels which by the way Hilton, you're a hotel

[Paige Wilson]

choice unless it's in Minnesota.

[Marc LaCour]

Anyway. Yeah, stay tuned behind the curtain for that one too. Basically here's Vietnam borrowing money. It's actually several banks pulled together which are normally competitors and actually work together as not competitors to get $1.13 billion to build an LNG fired electrical generation plan. This is great. Vietnam's going to buy LNG on the open market. Some of that LNG will come from us. Congratulations Chevron for seeing that need in Asia Pacific way before I did. And this way they can ramp up their power generation, provide electricity to their people. This is going to help their economy grow. It's help with education, helps with things like hospitals, medical care. Just a great thing. They're going to build a 1500 megawatt power plant. These three banks are funding it and it's scheduled to be open by 2030 which is not that far away. This is just another sign of how around the world LNG is The fuel of choice. And countries and companies are actually building the infrastructure to be able to use it effectively. Which is a perfect example right here. What's next?

[Paige Wilson]

Next, Technique FMC wins major subsea scope on Mozambique FLNG project. What's flng?

[Marc LaCour]

So fling. So F is floating. This is just an LNG project. Floating instead of being terrestrial. And I've always loved the fact that our industry makes acronyms out of everything. If you're any other industry. You said you had a fling. People will think about you a little bit differently in this industry. Anyway, Technique fmc, who I've had a love affair with the legacy FMC company

[Paige Wilson]

for My daughter's a contractor there.

[Marc LaCour]

Oh, that's right. Sure enough, I forgot about that. Anyway, they got a EPC contract from any for this floating LNG project offshore Mozambique. Mozambique's been hot natural gas for years. Somebody has to do something natural gas that comes out of the ground to be able to move it around the world. And that's what Technique FMC is doing right here. Tell you what, when you look at especially floating LNG facilities and especially the infrastructure you need on the ships, technically leads the world. Anyway, under his contract, Technique FMC will manufacture, install with flexible flow lines, the risers, subsea manifolds, plets, umbilicals, all this stuff they're really good at. I love the fact that they booked this project for a little while. Companies like Technip FMC were really suffering. They didn't have enough orders on the books. And I haven't touched base with them this year yet. It's still early in the year, but I suspect that they have probably a lot more orders on the books now than they've had in the last couple years, which is great. Keeps people employed, keeps the company running, allows them to do research and development. So hats off Technip FMC for winning this fling project in Mozambique, as weird as it sounds.

[Paige Wilson]

All right, last one. Chevron Houston's marathon has raised over 41 million for local Houston charities since its inception in 1995.

[Marc LaCour]

So the Chevron Houston Marathon just happened recently? No, Paige and I did not run in the marathon.

[Paige Wilson]

Oh, absolutely not.

[Marc LaCour]

And no, we will not run a marathon unless somebody much bigger than us is chasing us.

[Paige Wilson]

Exactly.

[Marc LaCour]

Help. However, hats off for everybody that competed. I love the fact that Chevron's been doing this for so long, since 1995. The money goes back to local charities in the Houston area. And then I thought it'd be cool. So I actually found a link to the leaderboard. So if you Want to go in and see which companies participated, which one of their runners place and how much money they each raise. It's really interesting. The link will be in the show notes as well. Love the fact that Chevron's doing stuff like this. And as usual, Chevron doesn't market this, doesn't use this for pr. They don't honk their own horses horn. We're going to do it for you. So Chevron, thank you Hong Kong for doing this and making the Houston area charities helping them feed the homeless and help with medical care and all the other million one things these charities need to do. Without Chevron's help, they wouldn't be able to do it. So thank you Chevron.

[Paige Wilson]

That's what's amazing about our industry.

[Marc LaCour]

Yep, pause time for the mid roll ad. Hey, if you're listening, if you comment on any video that's on our YouTube channel and then send us a screenshot to marketing.com we will send you an Ogg and HARDTAP laptop stick, a temporary tattoo. So in the show notes will be a link to our YouTube channel or kids love those. Search for Oggn on YouTube, comment on any video, I don't care what it is. And then send a Screenshot to marketing gn.com where you left your comment and we will send you free of charge OGGN hard hat and laptop sticker and a temporary tattoo. People are loving this. I got Paige mailed a few of them out the other day. We have a few more sitting in our inbox right now. Remember, just go.

[Paige Wilson]

I'm going to charge you all for stamps.

[Marc LaCour]

Y' all go to our YouTube channel, leave a comment, we'll throw some swag your way. Oh also when you get the temporary tattoo, if you post a picture on social with a temporary tattoo, we'll send you an OGGN shirt which does cost a few dollars. Speaking of costing stuff, if you want to sign up for our two newsletters, we have our monthly oil and gas events newsletter. We take all the oil and gas conferences, trade shows, private events that nobody knows about. Puts in your inbox once a month. Charge you nothing. And often in that newsletter is discount tickets or sometimes free tickets to stuff. So sign up for that, especially if you're in sales and marketing. It's very useful. Then we have our weekly update newsletter. Newsletter. That one just is kind of fun. We have some recipes in the oil field. You get an inside scoop on what's going on inside of oggn. We have new sponsors for both those newsletters. So congratulations to both of them for helping make this stuff possible. Weekly rig count. Paige, where are we?

[Paige Wilson]

Well, we're down 1 in the United States at 5:43. We're up 29 in Canada at 226.

[Marc LaCour]

Amazing what happens to ground freezes. Sign up for our LinkedIn company page.

[Paige Wilson]

I didn't feel finish.

[Marc LaCour]

Oh, I'm sorry. Go ahead.

[Paige Wilson]

Internationally, we're down 8 at 1065. Somebody's excited about finishing up.

[Marc LaCour]

Sign up for our LinkedIn company page. That way you can find out how Paige makes fun of me when we're not on the microphone. And also all the other stuff that we're doing. Merchandise. We're the number one oil and gas merchandise store online store on the planet. Go check it out. I got Paige working on some leisure wear for women that we're going to brand pretty soon, so stay tuned for that. Our kids clothes is what sells the most. If you're like myself or any of our experts, come speak at your event. It's a new year year. I'm already starting to be book up for keynotes in 2026. I just find both humbling and amazing at the same time. First Friday, Q and A. You know the drill.

[Paige Wilson]

I think we got one coming up.

[Marc LaCour]

Don't we submit a question? If we read your question on the air, you get a big shout out. Remember, the goal is not to stump Paige and I, but to help educate your peers. God, seems weird to say this, but you ready to get out of here? Because it is the longest we've done. I know. Remember folks, do great work, pay it forward and we will see you next time.

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