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U.S. District Judge James D. Cain Jr. in Louisiana issued a preliminary injunction Monday in a lawsuit filed by 16 states, which argued Biden violated federal law by halting licenses in January to assess impact of shipments on climate change. View the full article
TDI-Brooks has successfully completed a geotechnical coring project for Geohidra in the Southern Gulf of Mexico. The operation, conducted aboard the MV Laguna Azule, involved thirty-two cone penetration tests using the Neptune 3000 system. View the full article
The RRC has new proposed rules for public comment to administer legislation in the geothermal energy front in Texas, specifically addressing shallow closed-loop geothermal systems, including the associated injection wells, which are used to heat or cool buildings without conversion to electricity. View the full article
Nostra Terra, an international oil and gas exploration and production company focused on its Pine Mills producing asset in Texas, U.S., has provided a production and operations update. View the full article
Traders have piled into oil this year, with output cuts from Saudi Arabia helping drive prices to the highest since February. View the full article
Crude futures in New York added as much as 3.4% after a ship ran aground in the Suez Canal, giving the market a reprieve after prices sank to the lowest level since early February. Despite efforts to move the vessel, it could block the route for days. View the full article
The two energy giants have signed a non-binding agreement to discuss combining their upstream portfolios in the West African nation. That could be a boon to the country’s beleaguered oil industry, which has seen production slump by more than a third since 2015 amid chronic under-investment. View the full article
Halliburton and Nabors Drilling are working to connect digital well planning from Well Construction 4.0 with onsite execution using the Nabors’ SmartRig system, helping customers increase efficiencies, access well elements and real-time information. View the full article
Oil pared losses after Royal Dutch Shell Plc. said a critical U.S. Gulf of Mexico oil-production platform will be out of service for the rest of this year. View the full article
U.S. President Joe Biden “is looking at” a potential release from the Strategic Petroleum Reserve to bring down gasoline prices after OPEC+ rejected his request to increase crude production faster, said Energy Secretary Jennifer Granholm. View the full article
Oil exports from Venezuela doubled in December from a year earlier as the country raises production of revenue-generating hydrocarbons in defiance of U.S. sanctions. View the full article
Iran’s seizure of two Greek oil tankers in the Persian Gulf raises the risk of further interruptions to shipments from a region that’s a vital source of global energy supplies. View the full article
Dolphin Drilling secured a year-long, $96 million contract with Nigeria-based General Hydrocarbons Limited for the Blackford Dolphin rig. The contract will commence in the fourth quarter of this year. View the full article
TotalEnergies plans to relinquish the license for Block 11B/12B because it doubts whether the complex deepwater finds can be made commercially viable, given South Africa’s small gas market. The company will concentrate instead on exploring the Orange basin, located further north on the Atlantic coast of South Africa near promising offshore oil discoveries in Namibian waters. View the full article
The American Petroleum Institute (API) released a new poll conducted by Morning Consult that reveals strong support among swing state voters for policies that promote domestic oil and natural gas production, while limiting reliance on foreign energy sources. View the full article
Abu Dhabi National Oil Co. offered nearly $13 billion to buy Germany’s Covestro AG in what’s set to be the largest Middle Eastern acquisition of a European firm. View the full article
Ocean services provider DeepOcean and well management and reservoir specialist EXCEED have entered into a collaboration agreement to supply vessel-based well plug and abandonment (P&A) services to the global decommissioning market. View the full article
Two weeks ago, the world’s biggest crude exporter stunned energy traders by announcing that -- rather than restore halted production as planned -- it would slash supplies by a further 1 million barrels a day. On Tuesday, the International Energy Agency slashed forecasts for world oil demand in the first quarter as countries hunker down to contain new coronavirus outbreaks. View the full article
European and U.S. refiners that rely on the vital waterway for cargoes of Middle Eastern oil may be forced to look for replacement supplies should the blockage persist, while flows of crude from North Sea fields destined for Asia will be held up. View the full article
“Our goal is to have several vessels operating in Norway – both in the oil and gas industry and floating wind," said Duncan MacPherson, the new managing director in Norway for Maersk Supply Service. View the full article
BHP has long said the oil business was one of its strategic pillars, and argued that it will make money for at least another decade. But as the world tries to shift away from fossil fuels, the company wants to avoid getting stuck with assets that become more difficult to sell, according to insiders. View the full article
Oil resumed declines amid growing concerns over the health of China’s economy that have triggered massive losses in equities. View the full article
The White House and 49 senators support a proposal to impose an almost $20 per-ton fee on carbon as part of President Joe Biden’s climate-and-spending legislation, U.S. Senator Sheldon Whitehouse said Saturday. View the full article
The European Court of Human Rights is asking Norway to respond to charges by activists that allowing new oil and gas drilling in the Arctic during an environmental crisis may breach fundamental freedoms. View the full article
CSA Ocean Sciences Inc. announced the conclusion of an Environmental Assessment Program for a major offshore energy operator in Block 58, a 5,841 km2 area approximately 115 km (71 mi) offshore north Suriname in South America. 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.
