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Valero Energy Corp.’s trading division was the largest buyer of crude oil in the Biden administration’s second sale of emergency stocks that were part of the White House’s efforts to combat surging energy prices after Russia invaded Ukraine. View the full article
The controversial Nord Stream 2 pipeline has the potential to ease Europe’s gas crisis, and Russia says the project is on track. But obstacles remain -- and some of them could take months to clear. View the full article
Chevron and Hess are requiring employees who work on its platforms in the Gulf of Mexico to get the Covid-19 vaccine, as the oil giant responds to rising cases across the southern U.S. View the full article
Highwood Equipment Technologies Inc. is transporting two of the world’s most advanced automated well service rigs to the Sultanate of Oman. View the full article
The American Petroleum Institute announced that Will Hupman is returning to API as Vice President of Downstream Policy. In this role, Hupman will lead the API Downstream department and coordinate downstream issues across the organization to help advance API’s mission. View the full article
Oil squeezed out its first weekly gain in three on signs that global demand is holding up despite concerns that the renewed spread of the virus could stall the recovery. View the full article
Oil futures dropped back below $69 a barrel on Tuesday, mirroring wider markets where the dollar rose and U.S. equity futures pared gains as the recent surge in various assets brought on inflation concerns. View the full article
Ten months after slashing crude production when Covid-19 crushed global demand, OPEC and its allies are still withholding 7 million barrels a day from the market. It's been a sacrifice, and now the group must chart a path forward that won't erase hard-fought oil price gains. View the full article
BP Plc and Russia’s Lukoil PJSC want to sell down their assets in Iraq, according to the country’s oil minister. View the full article
TechnipFMC has been awarded a significant engineering, procurement, construction and installation contract by Shell plc for the Jackdaw development, located in the United Kingdom North Sea. View the full article
How the UK government finds itself mounting a tax raid on the oil and gas industry, while simultaneously breaking a promise not to offer fossil fuel producers incentives to drill more, shows how the invasion of Ukraine has turned the world of energy on its head. View the full article
A potential release from the U.S. Strategic Petroleum Reserve intended to bring down gasoline prices may have little effect, oil market participants warn, even as the Biden administration floats the idea as a way to provide immediate relief at the pump. View the full article
Solstad Offshore, DeepOcean Group and Østensjø Group have joined forces to fast-track the adoption of remotely managed services to drive down operating costs and emissions for the marine and offshore industries. View the full article
GATE Energy has been selected by Shell Offshore as the provider for facility commissioning of the Whale development. Scope includes commissioning planning, onshore commissioning execution, and offshore commissioning / ready-for-startup services. View the full article
Scotland's First Minister Nicola Sturgeon asked the UK government to reassess oil and gas fields that have been licensed but not yet developed, such as the Cambo development west of Scotland’s Shetland Islands. Green groups say that's not enough. View the full article
The Texas oil refinery that Pemex is buying has racked up a rare net loss of about $360 million this year, adding to the challenges Mexico faces in seeking energy independence. View the full article
Hungary is one of the EU nations most reliant on Russia for energy, and has seen the cost of oil and gas imports soar to an estimated $19 billion this year from $4 billion in 2019, according to government data. View the full article
Oil held gains near the highest since 2018 amid a global energy crunch that’s set to increase demand for crude, while stockpiles are falling from the U.S. to China. View the full article
At an open meeting of the Railroad Commission of Texas, Commissioner Wayne Christian was unanimously elected Chairman for a second time. View the full article
Some of the worst fire conditions in a decade are going to sweep across Texas and the southern Great Plains, threatening key shale-oil fields, slaughterhouses and farms. View the full article
Vitol Group and Trafigura Group -- both barred from new oil-trading business with Mexico’s state producer for alleged corruption -- will be subject to the ban until at least the end of 2024 while the government reviews the conduct of other commodity traders, Energy Minister Rocio Nahle said. View the full article
A coastal California county’s attempt to curb new oil and gas development suffered another blow when an appeals court upheld a ruling striking down a ban on new wells and hydraulic fracturing. View the full article
Oil prices in New York gained for a second session, building on the biggest one-day gain in nine months, amid glimmers of optimism among bulls that the delta coronavirus variant’s hit to demand may be passing. View the full article
It’s been a roller-coaster ride for natural gas this year, with most of the time spent climbing to newer heights. The worst is far from over with frigid winter weather on the horizon for many parts of the world, while fears remain that the market may stay out of balance through much of next year. View the full article
While Ebrahim Raisi’s presidential win isn’t expected to derail efforts to return the U.S. to the accord, the change in administration in Tehran has complicated diplomacy. 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.
