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U.S. gasoline futures jumped after Hurricane Ida barreled ashore in Louisiana, disrupting processing facilities. Oil reversed early gains as local rigs may have escaped significant damage and the OPEC+ producers’ cartel is expected on Wednesday to endorse a supply increase. View the full article
Recoverable volumes from Troll phase 3, which will produce the Troll West gas cap, are estimated at as much as 347 billion cubic meters of gas. Converted into oil equivalent this amounts to 2.2 billion barrels. View the full article
Sarawak Shell Berhad, a subsidiary of Royal Dutch Shell plc, announced that it has taken a final investment decision on the Timi gas development project and, together with its partners PETRONAS Carigali Sdn Bhd and Brunei Energy Exploration, look forward to delivering this for Malaysia. View the full article
Iraq’s regional allies stressed the need to provide support to an OPEC member struggling to rebuild after decades of ruinous wars, in a conference that also afforded a platform for meetings between longtime rivals. View the full article
Professionals and technologies demonstrating cutting-edge thinking and next-generation leadership from across the upstream oil and gas industry were selected as finalists in 18 awards categories. View the full article
After mooring lines installation in June, towing and hook up in July, Bourbon Subsea Services completed the offshore installation of the 3,6 MW TetraSpar Demonstrator Floating Wind Turbine at Metcentre Test site in Norway, by laying and connecting the power cable earlier this week. The wind turbine will be commissioned in the coming weeks. View the full article
OPEC and its allies are expected to press on with their planned revival of oil production when they meet next week, as prices bounce back from their August stumble. View the full article
A new study concluded that more than 2 million metric tons (MT) per year of CO2 can be removed from the atmosphere and injected safely into the earth at two ethanol plant sites in California. The study was commissioned by Aemetis, Inc., a renewable natural gas and renewable fuels company focused on below zero carbon intensity products. View the full article
Endangered desert fish would get millions of dollars in federal funding, while oil companies would face new fees and a ban on most offshore drilling under a plan floated by House Democrats. View the full article
Transocean announced that BOE Exploration and Production awarded Transocean a $252 million firm contract for its newbuild ultra-deepwater drillship, the Deepwater Atlas, including a mobilization fee of $30 million. View the full article
Endangered desert fish would get millions of dollars in federal funding while oil companies would face new fees and a ban on most offshore drilling under a plan floated by House Democrats. View the full article
Nord Stream 2 AG, the Gazprom PJSC-owned pipeline project to bring more Russian natural gas to Europe, risks delays after losing a court ruling imposing changes to its organization. View the full article
TGS, a global provider of energy data and intelligence, has expanded its coverage of numerical weather prediction (NWP) model data. The latest model covers a 400,000 square kilometers area off the East Coast US, extending from Massachusetts to North Carolina. View the full article
BP and PetroChina formed a joint venture to manage the giant Rumaila field in Iraq, an operating structure the British oil major has adopted in other parts of the world as it focuses on the energy transition. View the full article
The Biden administration moved Tuesday to resume selling oil and gas drilling rights in the Gulf of Mexico and throughout the western U.S., after a judge ruled the president’s leasing pause was unlawful. View the full article
VitalyX combines Shell Remote Sense lubricant analysis expertise with Bently Nevada’s 60-year experience in condition monitoring and protection to offer an early warning system that remotely monitors oil quality to increase machine uptime. 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
Pemex left investors with more questions than answers after it announced in late July that it would be disclosing its greenhouse gas emissions on a more regular basis — then refused to discuss why they’d soared by double-digits from April to June, compared to a year ago. View the full article
Amid surging caseloads that are stressing medical facilities in West Texas, Pioneer Natural Resources Co. is offering employees a one-time vaccine incentive of $1,000, the company said in an email. Devon Energy Corp. is offering $500 to workers that show proof they took the jab by Oct. 15. View the full article
A.P. Moller - Maersk A/S has ordered eight new vessels, each costing $175 million, that can be propelled by cleanly-made methanol instead of an oil-based fuel. They’re set for delivery from 2024. View the full article
Siccar Point Energy Ltd. is delaying work on its Cambo oil field in the UK North Sea, a target of vociferous criticism by environmental activists. View the full article
The U.S. is holding its largest sale of oil from strategic reserves this year at a time when the outlook for fuel demand is darkening amid the resurgent Covid-19 virus. View the full article
Operator Neptune Energy and its partners Idemitsu Petroleum Norge, PGNiG Upstream Norway and Sval Energi today announced the safe and successful start-up of production from the Duva development in the Norwegian sector of the North Sea. View the full article
The U.S. crude benchmark climbed nearly 5% on Monday and the global benchmark Brent also advanced, rallying along with equities and other commodities. In addition to more positive sentiment in financial markets, China has made progress in containing the fast-spreading delta variant, bringing local cases down to zero. 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
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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.
