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Energy demand is expected to increase, and deepwater oil and gas will play a critical role in the energy mix in the future, ExxonMobil Vice President of Deepwater Jeff Weidner said during an executive dialogue. View the full article
Offshore energy professionals from around the world convened at the 2022 Offshore Technology Conference to discuss the latest advancements in the offshore oil and gas industry, while touting the role that the offshore energy industry plays within the energy transition. View the full article
Talos has taken a leadership role in the developing market for global emissions reductions, but additional CCS capacity is required to meet global emissions reductions and climate objectives. View the full article
The Offshore Technology Conference (OTC) has announced the 2021 recipients of the Spotlight on New Technology® Award, which recognizes new, innovative technologies that are advancing and revolutionizing the future of offshore energy. View the full article
OSI Renewables has entered into an agreement with Barge Master BV based in Rotterdam, Netherlands to be the exclusive distributor of the Barge Master Next Generation Gangway in North America. View the full article
The Joint Ministerial Monitoring Committee, JMMC, meeting of the OPEC+ that took place in the form of a virtual conference on Wednesday, finally managed to provide the markets with much needed sense of direction.
The oil price shot up, having been in decline for days. Brent oil hit above $58, the highest so far during the turbulent period.
The meeting was unusually short, yet managed to reach an agreement with most members seeing eye to eye on the main issue: maintaining the crude
Oil and gas company Perenco has struck a deal with exploration company, New Age, to buy its participating interests in the Etinde conventional gas development located offshore Cameroon. View the full article
Nigeria shouldn’t leave its gas in the ground and run the risk of ending up with an energy transition that unfairly deprives its citizens of energy, as well as opportunity. View the full article
OPEC meets on March 4 and members will probably agree to keep output steady in April, Iraq’s Oil Minister Ihsan Abdul Jabbar said. The biggest change will come from Saudi Arabia, which will likely end unilateral daily cuts of 1 million barrels after March, he said. View the full article
Joe Biden took a political gamble with his visit to Saudi Arabia last month, courting a kingdom he once vowed to punish in a quest for more oil supplies. This week will reveal whether it paid off. View the full article
OPEC+’s decision to lower its oil-production cap may set the stage for higher prices that would enable U.S. explorers to expand drilling, according to shale entrepreneur Matt Gallagher. 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
The OPEC+ coalition will likely hold firm to its oil production plans this week even as the European Union moves to sanction group member Russia, delegates said. 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
The OPEC+ coalition ratified an oil-production increase that completes the return of supplies halted during the pandemic, while deferring discussions on its next move for another day. View the full article
OPEC+ will consider cutting oil output by more than 1 million barrels a day, according to delegates, when it meets in person on Wednesday for the first time in more than two years. View the full article
OPEC+ agreed to increase the size of its oil-supply hikes by about 50%, in a deal that kept Russia at the heart of the cartel while also heeding pressure from major consumers including the U.S. View the full article
The oil pact OPEC+ launched at the outset of the pandemic is finally nearing an end, and where the group goes from here is a politically fraught question. View the full article
OPEC+ is considering a reduction in its production limit of as much as 2 million barrels a day, although the impact on global supply could be smaller. View the full article
OPEC+ has begun discussions about lowering oil output when it meets next week, as a fragile global economy continues to weigh on crude prices. View the full article
OPEC and its allies recommended proceeding with plans to gently revive oil production as global demand recovers from the pandemic, despite surging infections in India. View the full article
OPEC+ responded to months of diplomatic efforts from US President Joe Biden with one of the smallest oil production increases in its history. View the full article
OPEC+ agreed to make a token oil supply cut for October, a surprise move that shows the alliance is seeking to stabilize global markets after a faltering economic backdrop triggered the longest price rout in two years. View the full article
It’s the biggest reduction by the Organization of Petroleum Exporting Countries and its allies since 2020, but will have a smaller impact on global supply than the headline number suggests. Several member countries are already pumping well below their quotas. View the full article
The sustained OPEC+ production curtailment through April suggests that supply will remain constrained in the near term, even as demand continues to increase. As a result, the U.S. Energy Information Administration expects that further inventory withdrawals to meet rising crude oil demand will support crude oil prices through at least the end of April. 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.
