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The agreement allows the consortium to acquire, promote and license multi-client seismic programs, including new 3D acquisition and legacy data reprocessing, in the shallow water acreage offshore Suriname. View the full article
Chevron has signed an agreement with the government of Equatorial Guinea for Block EG09, located in the Douala basin on the border of Cameroon. View the full article
Oil booms typically spark a chase for higher production -- but not this time. All five supermajors have kept their capital expenditure budgets firmly in check and pledged that this discipline will hold in future years. View the full article
These drill bits combine the latest technology with an industry-leading customization process to deliver high-performance, application-specific designs for customers. View the full article
The Biden administration on Monday moved to stiffen offshore oil drilling safety measures that were imposed in the wake of the Deepwater Horizon disaster but later eased under former President Donald Trump. View the full article
The acquisition will consolidate more assets in the hands of what is already the world’s biggest LNG player, at a time when demand for LNG expands faster than other fossil fuels. Major energy producers, including Shell and Chevron Corp., assert that natural gas will play a long-term role in the energy transition. View the full article
Transocean Ltd. announced a 1,095-day contract for the Deepwater Invictus with bp in the U.S. Gulf of Mexico. The program is expected to commence in the first quarter of 2025 and is estimated to contribute approximately $531 million in backlog. View the full article
Unify is a new-generation digital platform and is the first plunger lift controller in the ChampionX SMARTEN automation product family. It harnesses the latest AI, IoT, and wireless technologies for edge device automated operations and “live” visibility into plunger cycle behaviors via high-frequency data captured at one-second intervals. View the full article
(WO) — Cnooc Ltd. posted a rise in Q3 profit after the company offset lower crude oil prices with increased output. The state-owned firm has a prominent role in raising output to meet targets for energy security, a task that has greater importance as the geopolitical landscape becomes more uncertain. View the full article
Enverus Intelligence® Research (EIR) has released its latest Fundamental Edge report, which focuses on global drivers for oil and gas prices through 2030, the five-year oil and gas supply and demand outlook and price forecasts. View the full article
Brent crude now trades above fiscal breakeven prices for the four biggest oil producers in the Middle East after Saudi Arabia convinced fellow OPEC+ members to keep output largely unchanged. View the full article
Senate Democrats began using a special procedure to undo parts of Donald Trump’s regulatory agenda, starting by rescinding a measure that made it harder for the Environmental Protection Agency to limit leaks of the powerful greenhouse gas methane from oil and gas wells. View the full article
With these two new operated exploration blocks, TotalEnergies expands its position in Suriname, an emerging world class basin. A 3D seismic acquisition campaign will be carried out on these 2 licenses to confirm their potential. View the full article
A new forecast of the energy transition from DNV has warned that even if all electricity was ‘green’ from this day forward, the world will still fall a long way short of achieving the 2050 net zero emissions ambitions of the COP21 Paris Agreement. View the full article
“We see our role as extremely limited,” Saudi Energy Minister Prince Abdulaziz bin Salman said during the CERAWeek India Energy Forum. View the full article
The Biden administration shouldn’t ban the export of crude oil, a bipartisan group of House lawmakers said in a letter to Biden. View the full article
Apex International Energy announced the Fajr-8 development well was tested at a daily rate of 2,440 barrels of oil and negligible water. View the full article
Secretary of State Antony Blinken said it was ‘unlikely’ the U.S. and Iran would reach a new nuclear deal anytime soon, adding to Western officials’ downbeat assessment over the prospects for reviving an accord that President Donald Trump abandoned in 2018. View the full article
Improvements in drilling and fracking techniques amid a wave of corporate takeovers will drive the expansion and more than offset recent reductions in rig deployments, analysts at the the London-based bank wrote in a note titled ‘Underestimate U.S. shale at your peril.’ View the full article
Eni CEO Claudio Descalzi and SOCAR (State Oil Company of Azerbaijan Republic) CEO Rovshan Najaf signed a Memorandum of Undestanding (MoU) in Baku to evaluate potential cooperation opportunities in the areas of oil and gas exploration and production, energy security and efficiency, GHG emissions reduction, gas transportation infrastructures and sustainability. View the full article
Block 14 and Block 15 were part of the Suriname Shallow Offshore 2 Bid Round 2023-2024. The blocks are in the eastern part of the Suriname-Guyana basin and border Block 52, where oil and gas discoveries have previously been made. Block 14 has water depths of 50 to 75 m, and Block 15 from 75 to 150 m. View the full article
(WO) — National oil companies tend to be more bloated and less efficient than their private-sector counterparts. Yet Petroleos Mexicanos, with a workforce of about 128,000, stands out even among its state-owned peers. View the full article
SPM™ Oil & Gas announced that their SPM™ WS 335 Frac Pump has achieved more than 13,000 pumping hours in the Permian before its first overhaul, demonstrating an ability to last four times longer than traditional pressure pumping equipment. 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
The United Arab Emirates could become the first nation among the Organization of the Petroleum Exporting Countries to set a net-zero goal, a move that would please Western countries pushing for stronger climate commitments but won't require it to sell less oil. 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.
