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The United States oil and gas market is one of the largest and most dynamic in the world. It is a major source of energy for the country, and it also plays a significant role in the global economy. The United States is a net exporter of natural gas, but it is a net importer of oil. In 2023, the United States produced an average of 11.9 million barrels of oil per day (bpd) and consumed an average of 20.2 million bpd. The United States also produced an average of 95.5 billion cubic feet of natural gas per day (cf/d) and consumed an average of 85.7 billion cf/d.
The United States government is a major purchaser of oil and gas products and services. In 2022, the federal government spent over $100 billion on oil and gas, accounting for approximately 10% of total government procurement spending. Oil and gas procurement by the federal government is essential for a variety of purposes, including powering federal facilities, operating vehicles, and heating buildings.
The main oil and gas products and services procured by the United States government include:
Crude oil
Refined petroleum products (e.g., gasoline, diesel fuel, jet fuel)
Natural gas
Natural gas liquids
Oil and gas exploration and production services
Oil and gas pipeline transportation services
Oil and gas refining and storage services
The top authorities for United States oil and gas procurement include:
The Defense Logistics Agency (DLA)
The General Services Administration (GSA)
The Department of Energy (DOE)
The Department of Veterans Affairs (VA)
The Department of Transportation (DOT)
The top winners of United States oil and gas procurement include:
ExxonMobil
Chevron
Shell
BP
ConocoPhillips
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