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Brent futures lost as much as 3.7% as OPEC and its allies pledge to increase oil production from August until all halted output is revived. A jump in virus cases from Asia to the U.S. drove down equities, with stocks in Europe hitting a seven-week low. View the full article
Brent futures lost as much as 3.7%. OPEC and its allies will add 400,000 barrels a day each month from August until all halted output is revived. A jump in virus cases from Asia to the U.S. drove down equities, with stocks in Europe hitting a seven-week low. View the full article
While Chevron has sequestered almost 5 million tons of carbon dioxide at its Gorgon liquefied natural gas export plant in Australia thus far, that volume is short of a target to capture an average 80% of emissions in the first five years of the LNG facility’s operation. View the full article
Iran plans to ship a cargo of oil from a port in the Gulf of Oman next week, its first crude export from outside the Persian Gulf and beyond the narrow, crisis-prone Strait of Hormuz. View the full article
OPEC's deal will will ease a looming crude supply squeeze and reduce the risk of an inflationary oil price spike by increasing output each month beginning in August. View the full article
OPEC and its allies will meet on Sunday, the latest sign that a bitter standoff between Saudi Arabia and the United Arab Emirates has been resolved. View the full article
OPEC and its allies are considering holding a meeting on Sunday, delegates said, after the group made significant progress toward resolving a standoff with the United Arab Emirates that had blocked a deal to boost output. View the full article
The reforms – first submitted to parliament in 2008 and conceived at the start of the millennium – are intended to remove legal and regulatory uncertainty that has held back progress on numerous deferred oil and gas projects. View the full article
The International Energy Agency, the U.S. Energy Information Administration and the Organization of Petroleum Exporting Countries all say that global oil demand will continue to recover through to at least the end of next year. But there is some disagreement on the paths it will take to get there. View the full article
“Looking ahead to 2022, risks and uncertainties loom large and require careful monitoring to ensure the recovery from the Covid-19 pandemic,” OPEC said in its monthly report, which contained the first detailed estimates for next year. View the full article
Greenland's government “has decided to cease issuing new licenses for oil and gas exploration,” it said in a statement. “This step has been taken for the sake of our nature, for the sake of our fisheries, for the sake of our tourism industry, and to focus our business on sustainable potentials.” View the full article
The Middle East is set to lead capacity growth in the global gas processing industry from planned and announced projects between 2021 and 2025 and account for around 37% to the global gas processing capacity growth by 2025, GlobalData projects. View the full article
Oil fell for a second day after a surprise jump in U.S. gasoline stockpiles tempered signs that the American market has returned to robust health. View the full article
Brookfield Infrastructure Partners LP raised its hostile offer for Canada’s Inter Pipeline Ltd. in another push to break up the agreed C$8.3 billion ($6.6 billion) takeover by Pembina Pipeline Corp. View the full article
Uganda is exploring options to cut reliance on Kenya for petroleum imports by reviving shipments through Tanzania, a move that potentially jeopardizes business for its neighbor’s Mombasa port. View the full article
While gasoline and diesel demand have returned to pre-pandemic levels, a surge in petroleum use for products such as plastic, asphalt, lubricants and other industrial needs is propelling the recovery. View the full article
Oil fluctuated as Saudi Arabia and the United Arab Emirates were said to resolve the standoff that has prevented OPEC+ from satisfying a growing clamor for extra barrels. View the full article
The United Arab Emirates has resolved its standoff with OPEC+ and reached a compromise deal that will give it a new output quota, said a delegate. View the full article
Oil prices climbed as the International Energy Agency warned of a deepening supply crunch. View the full article
Kuwait has opened its first permanent facility to import liquefied natural gas, as oil-rich Persian Gulf states accelerate efforts to wean their power plants off crude and use cleaner forms of energy. View the full article
The American-made pump, built with quality and efficiency in mind, features a flow rate of more than 1000 gpm, making it suitable for demanding HDD projects. View the full article
Capturing greenhouse gas emissions and burying them underground is one way the world is hoping to slow global warming. It also could be a money-maker for the oil and gas firms developing the technology. View the full article
The transaction will include all of Oryx’s Permian assets and, with the exception of Plains’ long-haul pipeline systems and certain of its intra-basin terminal assets, the vast majority of Plains’ assets located within the Permian Basin. View the full article
Vard Electro has been awarded a contract for an innovative hybrid battery power system with Atlantic Towing to be integrated on their vessel Atlantic Shrike. Atlantic Towing is the first company to implement this multiple mode application of battery technologies on a single vessel in the Canadian offshore oil and gas industry. View the full article
ABB’s new online platform Ability Marine Fleet Intelligence – Advisory combines the power of cloud-based analytics and reporting with user-friendly visualizations to help shipowners, managers and charterers optimize ship performance fleet-wide. 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.
