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Oil prices showed signs of recovery in advance of multiparty negotiations taking place in Vienna later on Tuesday, though the chances of a breakthrough are seen by analysts as slim. View the full article
Following concerns that it is facilitating the sale of meaningless carbon credits to corporate clients, the Nature Conservancy says it’s conducting an internal review of its portfolio of carbon-offset projects. View the full article
Imports jumped 5.8% in March from a year earlier, the biggest increase since March 2020. Demand for the fuel used in heating and power generation had been steadily growing before Covid-19, as nations shift away from coal-fired power over climate concerns. View the full article
French oil major Total SE must continue to produce gas in Myanmar and pay taxes to the military junta to protect staff from forced labor and maintain electricity supplies, Chief Executive Patrick Pouyanne said in an op-ed in Le Journal du Dimanche newspaper. View the full article
Crude has rallied this year as vaccine rollouts help major economies reopen. The decision by the Organization of Petroleum Exporting Countries and its allies was seen as a vote of confidence in the outlook for energy demand. The U.S. also added more than 900,000 jobs in March, the most in seven months. View the full article
An estimated 10,000 people fleeing an insurgent attack in northern Mozambique have sought refuge in a village within the concession area of Total SE’s $20 billion natural gas project, with more still arriving, according to two people with direct knowledge. View the full article
An estimated 10,000 people fleeing an insurgent attack in northern Mozambique have sought refuge in a village within the concession area of Total SE’s $20 billion natural gas project, with more still arriving, according to two people with direct knowledge. View the full article
Russia pumped 43.34 million tons of crude and condensate last month, according to preliminary data from the Energy Ministry’s CDU-TEK unit. That equates to 10.249 million barrels a day, based on 7.33 barrel-per-ton conversion ratio, or 1.3% more than in February. View the full article
Saudi Arabia raised prices for oil shipments to customers in its main market of Asia, signaling the kingdom’s confidence in the region’s economic recovery. View the full article
One day after the U.S. energy secretary phoned Saudi Arabia on the "importance of affordable and reliable energy for consumers," Interior Secretary Deb Haaland called the domestic fossil fuel industry "fundamentally broken," suggesting that Biden's oil and gas leasing moratorium will be anything but temporary. View the full article
Pioneer Natural Resources Co. is buying DoublePoint Energy LLC in a deal valued at $6.4 billion, less than three months after completing its purchase of fellow shale driller Parsley Energy Inc. as it expands in the U.S. Permian Basin. View the full article
Optimism has also been buoyed by expectations that global crude supplies won’t grow fast enough to satisfy demand as Covid-19 vaccinations proliferate and economies that shut down for the better part of a year begin reopening. View the full article
Defying market expectations for the second time in less than a month, the group agreed to add more than 2 million barrels a day to global oil supplies from May to July. That will return about a quarter of the crude they are still withholding after making deep cuts a year ago in response to the pandemic. View the full article
Even if OPEC+ decided to resume phased increases, it would review each step every month, allowing it to hit pause if oil demand growth were to disappoint, according to a delegate. View the full article
Many OPEC-watchers had been expecting the group to roll over its production quotas for at least one month, so any deviation from that could be bearish. It remains to be seen whether the call from U.S. Energy Secretary Jennifer Granholm to her Saudi counterpart Prince Abdulaziz bin Salman could tip the balance in the another direction. 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
The American Petroleum Institute's senior vice president for policy, economic and regulatory affairs Frank Macchiarola says the White House's $2.25 trillion infrastructure plan jeopardizes both union and non-union jobs in the U.S. energy sector. View the full article
CGG has been awarded three major seismic imaging projects by BP, two from the deepwater Gulf of Mexico and one from offshore Trinidad and Tobago. These projects will start in Q1/Q2 this year and complete with cloud delivery of the data no later than Q4 of 2021. View the full article
The revision, which mainly affects the next few months, follows a recommendation from OPEC Secretary-General Mohammad Barkindo that the coalition should remain very cautious. View the full article
The $2.25 trillion, eight-year proposal is a follow-up to the $1.9 trillion economic relief bill passed earlier this month. To cover the costs, Biden wants to raise corporate taxes to 28% from 21%. The plan also seeks a minimum tax on profits U.S. corporations earn overseas, increasing the rate to 21% from roughly 13%. View the full article
The president’s plans, part of a $2.25 trillion infrastructure and stimulus blueprint he is set to unveil in Pittsburgh on Wednesday, are meant to catalyze investments in a clean energy economy and encourage low-emission technology necessary to constrain global warming. View the full article
Texas moved to stop the city of Austin and others from imposing a California-style ban on natural gas in new homes and buildings, the latest salvo in the gas industry’s bid to protect itself from local climate regulations. View the full article
The head of oil trader Gunvor Group Ltd. expects prices to remain stuck where they are as draws of excess stocks slow amid rising coronavirus cases in Europe. View the full article
It’s the latest in a series of incidents that are undermining the southern African country’s hopes of developing some of the continent’s biggest private investment projects. As much as $120 billion of investments by Total, Exxon Mobil Corp. and other companies may be approved by 2026, according to Standard Bank Group Ltd. View the full article
Oil is poised to close out a fourth quarterly advance on Wednesday, but the past week has seen volatility climb amid the Suez Canal blockage. While fuel consumption is rising in many parts of the world, risks remain, with the head of the U.S. Centers for Disease Control and Prevention warning of “impending doom” as cases and deaths in the country pick up. 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.
