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One week after OPEC and its allies abandoned their meeting in acrimony, the window for an August oil-production increase is closing without any deal in sight. View the full article
Oil edged lower as traders grappled with the demand implications of a Covid-19 resurgence in several regions and slowing economic growth in China. View the full article
Penn Virginia Corporation and Lonestar Resources US Inc. have entered into a definitive merger agreement under which Penn Virginia will acquire Lonestar in an all-stock transaction. View the full article
Israel Shipyards Ltd. announced its agreement with Chevron (Noble Energy Mediterranean Ltd.) for performance of a 16-month coating program for its Offshore and Onshore assets. View the full article
This carbon emissions assessment is expected to be the most comprehensive testing of real-time well stimulation operations performed within the industry to date, with independent third-party testing to be performed for each of these technologies during Seneca’s field operations. View the full article
The Biden administration is preparing to release a blueprint for limiting sales of U.S. drilling rights as rising oil and gasoline prices highlight the risks of curtailing domestic crude production. View the full article
Australia will challenge a court ruling that orders the government to consider climate change impacts from a planned coal mine expansion, a decision seen as clouding the prospects for any new fossil fuels projects. View the full article
The scope covers a complete subsea production system including four horizontal subsea trees, three manifolds, control systems, three static subsea umbilicals, as well as associated tie-in equipment and installation work. View the full article
Oil rebounded after a U.S. government report showed rapidly declining inventories and record-high fuel demand in the midst of the peak summer travel season. View the full article
Bahrain needs crude prices above $88 a barrel to balance its budget this year, according to the International Monetary Fund, the highest breakeven price in the six-member Gulf Cooperation Council and far above current levels around $75. View the full article
Russian Finance Minister Anton Siluanov warned the Kremlin needs to brace for falling revenues after a stress test showed the global clean energy push could lead to a significant decline in demand for fossil fuel exports. View the full article
To achieve the goal announced last month, about half of the emission cuts would need to come from capturing carbon at oil sands sites and sequestering it deep underground, which may require as much as two-thirds government capital like in Norway, Mark Little, chief executive office of Suncor Energy Inc., said in an interview. View the full article
Oil companies will produce 20,000 barrels a day more than previously forecast for this year, at 11.1 million barrels, the Energy Information Administration said in a report on July 7th. View the full article
The state-controlled firm created a new team to review its assets last year, soon after the coronavirus pandemic triggered a plunge in energy prices and strained its balance sheet. Aramco raised $12.4 billion by selling leasing rights over oil pipelines to a U.S.-led group of investors in April. View the full article
Texas Governor Greg Abbott is pushing regulators to strengthen incentives for fossil fuel and nuclear power generators in an effort to avoid a repeat of deadly blackouts seen this winter. View the full article
Biden administration officials are “encouraged” by ongoing OPEC talks and have spoken with officials in Saudi Arabia and the United Arab Emirates in hopes of reaching an agreement to stem the rise in crude prices, White House Press Secretary Jen Psaki said. View the full article
Favorable hedge positions represent the biggest test yet of shale’s newfound resolve to act with discipline and focus on investor returns, and avoid a return to the relentless pursuit of growth. View the full article
Rally-to-rout oil price gyrations show how the cartel’s internal rifts threaten the stability of the global economic recovery amid concerns about inflation, and tarnished the group’s self-image as a reliable steward of the oil market. View the full article
Reveal Energy Services has entered into a technology licensing and development agreement to commercialize ConocoPhillips’ patented poroelastic response measurement [PRM] technology, and the companies will perform joint research and development in the PRM technology space. View the full article
Patterson-UTI Energy Inc. has entered into an agreement to acquire Pioneer Energy Services Corp. for approximately $295 million, which includes the retirement of all Pioneer Energy Services’ debt. View the full article
The Biden administration is urging OPEC and its allies to find a compromise solution to increase oil production, according to White House officials familiar with the discussions. View the full article
Oil jumped to the highest in more than six years after a bitter fight between Saudi Arabia and the United Arab Emirates plunged OPEC+ into crisis and blocked a supply increase. View the full article
The resolution ends a long-standing conflict between Pemex and Houston-based Talos over the field, which contains as many as one billion barrels of oil equivalent. View the full article
The resolution ends a long-standing conflict between Pemex and Houston-based Talos over the field, which contains as many as one billion barrels of oil equivalent. View the full article
The group’s oil ministers were unable to reach a compromise, keeping current production limits in place for August and depriving the market from the extra barrels it needs as demand recovers from the pandemic. 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.
