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Schlumberger New Energy, Chevron Corporation, Microsoft and Clean Energy Systems announced plans to develop a ground-breaking bioenergy with carbon capture and sequestration (BECCS) project designed to produce carbon negative power in Mendota, California. View the full article
While most hydrogen is currently extracted from gas, there’s a push to use renewable energy to make the fuel from water, which wouldn’t generate carbon emissions. Oil and gas companies have “incredible infrastructure” to transport hydrogen, Kerry said. View the full article
Twelve years ago on Friday, March 12th, the Canadian province of Newfoundland and Labrador experienced the tragic loss of 17 people when Flight 491 crashed in the waters off the coast. View the full article
TechnipFMC has been awarded a significant engineering, procurement, construction and installation contract by TotalEnergies for its Lapa North East field in the pre-salt Santos Basin offshore Brazil. View the full article
Futures in New York slid 1.6%, the latest sizable move this week. Work to re-float the container ship that’s stuck in the Suez Canal -- a key trade route for crude flows -- was expected to begin early Thursday in Egypt. The best chance of freeing the vessel may not come until Sunday or Monday. View the full article
The new grant supports the development of a new SMART Cable between New Caledonia and Vanuatu in the southwest Pacific Ocean, which will provide essential monitoring for tsunami and earthquake early warning. View the full article
Oil crashed more than 10% in both London and New York as a new coronavirus strain sparked fears that renewed lockdowns will threaten the global recovery in demand. View the full article
Karoon Energy Ltd has exercised an option to add the drilling of two development wells at the Patola field offshore Brazil to the work scope of the semi-submersible rig Mærsk Developer. The work is expected to commence in the second half of 2022. View the full article
The U.S. Supreme Court ruled that natural-gas pipeline projects with federal approval can seize state-owned land, boosting PennEast Pipeline Co.’s planned 116-mile line through Pennsylvania and New Jersey. View the full article
Crude production in the Permian basin will reach 4.466 million barrels a day in May, the most in a year, and rig counts have touched a one-year high, according to the latest data from the Energy Information Administration. View the full article
Ecopetrol SA, Colombia’s biggest oil company, would hand over about $4 billion to the government in exchange for control of another state-sponsored outfit, the electric utility giant known as ISA. The deal, as investors from Bogota to New York see it, has all the markings of a cash-strapped federal government forcing a state-run company to bail it out. View the full article
Oil rallied toward $70 a barrel after OPEC+ chose not to relax supply curbs even as the global economy pulls out of its pandemic-driven slump, confounding widespread expectations the group would loosen the taps. View the full article
Futures have backtracked since Brent rallied above $71 a barrel and U.S. crude topped $67 earlier this month. China has muted its buying, touching off physical-market weakness in Asia, and a shaky Covid-19 vaccine rollout in parts of the world spells trouble for a complete demand recovery in the short term. View the full article
Even with crude above $100 a barrel, producers in the Permian and other U.S. shale basins are riding the brakes. View the full article
Futures in New York rose the most in over a week on Friday, but were unable to reverse a 1.6% weekly loss as the market weighed a global economic reopening that’s coming in fits and starts. View the full article
Royal Dutch Shell is hoping to restart its Ursa oil and gas platform in the U.S. Gulf of Mexico as early as the first half of November, according to a person familiar with the matter who asked not to be identified because the information isn’t public. View the full article
McDermott International, Ltd announced that its CBandI Storage Solutions business has been awarded a contract by Atlantic Gulf and Pacific Company of Manila Inc. (AGandP) for the engineering, procurement and construction of an LNG storage tank for AGandP's Philippines LNG import and regasification terminal, currently under construction in Batangas, Philippines. View the full article
KKR and Contango are doubling down on investing in exploration and production companies as many in the sector seek to recover from years of poor returns amid the shale boom and bust. The combination is said to allow the merged company to reach greater scale, boost access to capital and drive down the cost of production. View the full article
The American Petroleum released a new report examining how growth in cross-border petroleum trade between the United States and Canada has led to the further integration of North American energy markets, delivering economic benefits, lowering consumer energy costs and strengthening energy security on both sides of the border. View the full article
One of the world’s largest semi-submersible, heavy-lift crane platforms has been awarded the ABS Integrated Software Quality Management (ISQM) notation, recognizing its risk-based approach to critical software control safety systems. View the full article
Exxon was forced to shut or reduce runs at its large refining and petrochemical plants along the Gulf Coast, but its quarterly filing showed that its oil and gas production facilities also suffered substantial reductions in earnings. View the full article
B3 CEO and co-founder Kelly Bennett said "This program is a commitment by B3 and its members to put words to action through collaboration and transparency to create meaningful solutions.” View the full article
Oceaneering International and DDK Positioning Limited have entered into an agreement for the provision of GNSS augmentation service and all associated software and hardware supporting Oceaneering’s C-Nav Positioning Solutions group offerings. View the full article
A former judiciary chief with support from the highest levels of Iran’s religious and military establishment, Ebrahim Raisi’s election means that all of Iran’s state institutions and levers of power will be controlled by ultraconservatives. View the full article
As U.S. House Democrats inch closer to striking a deal on a massive Budget Reconciliation package with their counterparts in the Senate, it is important to note the potential implications for jobs in the upstream sector of the U.S. oil and gas industry. 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.
