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Neuron 5 uses advanced AI models and deep learning algorithms to predict maintenance needs and monitor equipment performance by interpreting data, such as pressure, temperature and vibration, received from sensors on critical equipment. View the full article
Crude production grew to 1.41 MMbpd in the second quarter, compared with 1.22 MMbpd a year earlier. Daily oil production in Nigeria is expected to rise to about 2 MMbpd by the end of this year, Oritsemeyiwa Eyesan, executive vice president of the Nigerian National Petroleum Corp.’s upstream division, said last week. View the full article
Qatar, which is already Kuwait’s biggest supplier with an existing contract running to 2035 to supply as much as 3 MMtpa, will start shipments from the new deal in January. View the full article
New momentum in Vaca Muerta means Argentina could export gas to Brazil as soon as next year. But instead of just importing the fuel, Petrobras would like to be involved on the production end, people familiar with the matter said. View the full article
Earlier this month, state-run Nile Petroleum Corp. assumed control of PETRONAS’ oil fields and assets – effectively repossessing the Malaysian company’s investment – and announced it would seek a new partner to ensure operations continue. View the full article
In 2022, Norway’s two biggest oil companies, Aker BP and Equinor, decided to move ahead with plans to spend about $19 billion to develop a string of fields in the North and Norwegian seas. The investment plans were driven by temporary Covid-era tax rules that were intended to spur petroleum investments during the pandemic. View the full article
After pumping less crude in the years leading up to the pandemic than top counties in neighboring Texas, New Mexico’s Lea County has been rapidly gaining ground. Production there has expanded faster than in any other U.S. county, last year becoming the first to ever produce more than 1 MMbpd, according to energy research firm Enverus. View the full article
Equinor ASA said new seismic data is allowing for the reassessment of offshore oil and gas resources on Norway’s continental shelf, underpinning exploration and production efforts as the company targets as many as 30 wildcat wells a year through 2035. View the full article
Demand will be high enough that failing to invest now in new oil and gas projects would be “catastrophic,” Birdsall said. Without new investment, Exxon sees oil supply falling 70% to 30 MMbpd by 2030, sending crude prices soaring and decimating the global economy. View the full article
Nigerian regulators said they expect to formally consent to ExxonMobil’s sale of its oil and gas assets to Seplat Energy Plc within four months, ending a hiatus that has stalled the conclusion of a transaction that was first announced in February 2022. View the full article
BP Berau Ltd. (bp) and Chubu Electric Power have expanded their collaboration to explore a carbon capture and storage (CCS) value chain between Japan's Port of Nagoya and the Tangguh field in Papua Barat, Indonesia. View the full article
Eni has received approval from Indonesian authorities for the development of two major gas fields, Geng North and Gehem, in the Kutei basin. The approval includes a 20-year extension for the Ganal and Rapak licenses. 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
Gran Tierra Energy has announced a $225 million acquisition of i3 Energy plc through a cash and share deal. The company aims to use this acquisition to enhance shareholder value, optimize capital allocation, and improve trading liquidity. View the full article
The U.S. has imposed sanctions on seven liquefied natural gas carriers linked to Russia, including vessels believed to have loaded at its newest export facility in the Arctic region. View the full article
Halliburton Co., the world’s biggest provider of fracing services, said it’s alerting customers and other stakeholders after an unauthorized third party gained access to some of its systems. View the full article
Senegal’s government set up a commission to examine natural-resource contracts awarded to foreign investors and establish whether they comply with the West African nation’s laws, Prime Minister Ousmane Sonko said. View the full article
The well, drilled by the Transocean Norge rig, encountered estimated recoverable volumes between 30 million and 140 million barrels of oil equivalent (MMboe). View the full article
This move is part of bp’s broader strategy to cut emissions and enhance efficiency through advanced infrastructure, including the development of centralized processing facilities and innovative drilling technologies. View the full article
Now, besides conventional control cabinets, customers globally can purchase its SIVACON 8MF1 industrial control cabinet series, made with 100% scrap metal sourced from reputable suppliers in Europe and manufactured using wind power. View the full article
Enbridge Inc. Chief Executive Officer Greg Ebel has played a major role in the company’s transformation from an oil-focused pipeline operator into a sprawling enterprise with businesses touching all forms of energy. View the full article
The G-18-AP permit is offshore from Onslow, Western Australia, and covers an area of approximately 8,467 km2 with water depths of 50-1100 m. The permit area will be evaluated as part of a hub for storing third party emissions, including those from Chevron’s operated LNG assets. View the full article
The changes come almost two weeks after the Malaysian conglomerate announced it would leave South Sudan after 14 years. UK-based oil and gas company Savannah Energy Plc has been in talks to purchase that business. View the full article
Demand for natural gas will remain strong despite government and company efforts to zero out emissions by mid-century, according to Kevin Gallagher, the head of Santos Ltd. View the full article
Shale producers are pumping more oil per dollar invested in oil fields by drilling wells with fewer rigs and using better fracing techniques, BloombergNEF said in a report published Thursday. The U.S. will increase production 4.5% to a record 13.9 MMbpd next year. 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.
