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Petrofac has officially taken over operatorship of the Northern Endeavour FPSO facility on behalf of the Australia Government, marking a major milestone in the landmark decommissioning contract. View the full article
CGG S.A. and Topicus.com Inc. announced that CGG has entered into an agreement with Topicus and Vela Software, for the sale of CGG’s GeoSoftware business. The closing of this transaction remains subject to mutually agreed closing conditions. View the full article
Employment in the U.S. oilfield services and equipment sector rose by an estimated 7,450 jobs in December, despite the slow hiring in overall U.S. jobs, according to preliminary data from the Bureau of Labor Statistics and analysis by the Energy Workforce and Technology Council. View the full article
Environmental activists in Argentina are trying to prevent new oil exploration in the resource-rich South American nation just days after forcing a governor in Patagonia to reverse course on silver mining. View the full article
OPEC and its allies don’t want crude prices to climb to $100 a barrel, and are reviving production quickly enough to prevent global markets from “overheating,” Oman’s oil minister said. View the full article
Enterprise Products Partners LP agreed to buy Navitas Midstream Partners LLC from Warburg Pincus LLC for $3.25 billion in cash to add natural gas pipeline and processing assets in the Permian Basin, the world’s most prolific shale basin. View the full article
CGG announced phase three of its dual-azimuth multi-client 3D survey in the Northern North Sea. Initial data from the phase three acquisition are expected to be available in early 2023, and final processed data in early 2024. View the full article
U.S. annual oil production is set to rise to a record next year as shale producers continue to boost output. View the full article
Oil jumped by the most in month after Jerome Powell’s comments to the Senate Banking Committee appeared to be less hawkish than the Federal Reserve had recently telegraphed. View the full article
Libya’s oil exports, already sharply curtailed following a blockade by paramilitaries in the west, are set to fall further after bad weather closed ports in the east. View the full article
Inmarsat, a leader in global, mobile satellite communications confirmed the successful launch of its first Inmarsat-6 satellite, I-6 F1, by Mitsubishi Heavy Industries from the JAXA Tanegashima Space Center in Japan. View the full article
The OPEC+ alliance is set for an easy meeting this week as it cruises to the conclusion of a two-year pact on oil supplies. The respite won’t last long. View the full article
Haitian-American oil tycoon Emmanuel Fritz Paret, CEO of Paret Mining LLC, has acquired a 10,000-acre oil reserve in Bowling Green, Kentucky. View the full article
The gasoline market is painting a picture of tight supplies this summer -- the last thing Joe Biden will want to see as he tries to contain high fuel prices. View the full article
Equinor ASA will make a $1.8 billion impairment on its Mariner field after slashing reserve estimates for the U.K. North Sea oil deposit. View the full article
Schlumberger and Cognite, two leaders in technology innovation, announced a strategic partnership to integrate Schlumberger’s Enterprise Data Solution for subsurface with Cognite Data Fusion, Cognite’s open industrial DataOps platform. View the full article
The substantial fall of US crude oil stockpiles has not excited the oil price yet, buckling the familiar trend.
The positive news has been overshadowed by a myriad of factors, according to seasoned market watchers.
Some of the key reasons are as follows:
· The Federal Reserve makes it known the inevitability of its continuing support to revive the battered economy
· The outbreak of Covid-19 clusters again in China in the middle of winter
· The rel
Energy Workforce & Technology Council's CEO said the EPA’s regulatory notice that it is considering designating parts of the Permian Basin as non-attainment zones which could trigger mandatory regulatory actions by the state of Texas would be detrimental to energy security. View the full article
The OPEC+ alliance of oil producers is running out of capacity to pump more crude, including its biggest member Saudi Arabia, according to Nigeria’s petroleum minister. View the full article
Cisneros, who is chairman of Cisneros Corporation, is entering a joint venture with PDVSA through Globalable Holding SL. The JV known as Petrocabimas is based in the western Zulia state and is projected to quadruple current production to 50,000 bpd by 2026, Cisneros said in a statement. PDVSA did not reply to a request for comment. View the full article
China’s quick recovery from Covid-19 means that its demand for oil and gas has fully recovered from the pandemic-induced swoon of early 2020, and President Xi Jinping continues to make energy security a top priority. View the full article
Strohm has supplied Shell with a static Thermoplastic Composite (TCP) Riser to support operations at one of its Southern North Sea assets. View the full article
Few ideas are more economically disastrous than debt spending in an inflationary environment and raising taxes during a recession. And Democrats are planning on doing just that. View the full article
Russia could find new markets for about half of the crude exports that will be banned by the European Union from December, according to energy-data firm Kpler. View the full article
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About this blog
I started this blog to express what I sense about the highs and lows of the oil realm, while cautiously analysing historical data, taking into account the geo-political development at the time of recording them.
I got into this field, having been a passive observer of fluctuations of crude oil prices and their global consequences for years.
Then, when on the day of Great Oil Crash in April, 2020, I made a decision to make my own blog, with the motto, ‘analysing data that really matters’.
Having come from an academic background in mathematics and physics, I analyse data using my own tools, created with JavaScript and Python, taking my decision on board while making decisions.
