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For the past year, oil consuming countries have become increasingly anxious at crude’s resurgence: first to $50 a barrel, then $75 and now to more than $85. And when Vladimir Putin, one of the leaders of the OPEC+ cartel, warned that $100 a barrel was a distinct possibility, the alarm bells really started ringing. View the full article
U.S. companies stand to play a significant role in the road to a lower-carbon future on the continent, and to continue leading some of the most important markets in the energy industry. 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
Equinor, Shell, TotalEnergies, Gassco and classification society DNV announced the kick-off of a new JIP to develop low-pressure solutions for the transportation of CO2 by ships. View the full article
The pledge will see 80% of the planned spending go to carbon capture and renewable energy projects, and the remaining 20% to oil and gas production, according to the report. View the full article
Oil eased off earlier gains with the European Union’s ban of Russian oil looking increasingly unlikely to pass. View the full article
Oil tankers that previously carried Iranian oil are switching to haul Russian crude, according to shipping analytics company Vortexa. View the full article
The Leviathan gas field offshore Israel – touted as the largest gas field in the Mediterranean- is set for an expansion in natural gas export capacity, following preliminary approval from Israel’s Energy Ministry. The approval allows for an increase in export volume by up to 145 Bcm. View the full article
U.S. average gasoline prices exceeded $3 a gallon for the first time in more than six years amid growing shortages of fuel across the South and East while Colonial Pipeline remains out of action due to a cyberattack. View the full article
Schlumberger said annual sales will rise the most in 11 years as concern over inadequate energy supplies outweighs recessionary fears among major oil explorers. View the full article
Logan Industries International Corporation has successfully delivered a subsea grease injection unit as part of a complete subsea wireline pressure control system for a major subsea oil and gas company. View the full article
Billions of pounds of investments aimed at building the UK’s net zero energy infrastructure could be diverted to other countries if politicians keep threatening to impose windfall taxes, the chief executive of Offshore Energies UK warns. View the full article
Shale executives have dramatically dialed back their oil-price expectations over the past three months as recession risks weigh on the market, according to the latest energy survey by the Federal Reserve Bank of Dallas. View the full article
Enbridge Inc. said it will continue to ship crude through its Line 5 pipeline that crosses the Great Lakes, despite Michigan Governor Gretchen Whitmer’s deadline Wednesday to shut the conduit. View the full article
Rising global oil prices are translating into shortages at the pump in cash-strapped Lebanon, with motorists lining up for hours to fill their tanks in the latest blow to living standards in the Middle Eastern nation. View the full article
The OU team designed and proposed a system to repurpose six abandoned oil and gas wells in Shawnee, Oklahoma, to provide clean, renewable geothermal energy for more than 730,449 square feet of educational and municipal buildings. View the full article
OPEC+ has begun discussions about lowering oil output when it meets next week, as a fragile global economy continues to weigh on crude prices. View the full article
The largest gasoline pipeline in the U.S. is returning to service, recovering from a cyberattack late Friday that sent pump prices surging and triggered shortages across the Eastern U.S. View the full article
Russia’s crude oil and condensate output jumped in the first weeks of September as some of the nation’s key producers ramped up in line with the OPEC+ deal and Gazprom PJSC recovered from a fire at a facility in West Siberia. View the full article
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A new company soon to be created by Chrysaor Holdings Ltd and Premier Oil Plc will likely retain its stake in the giant Zama oil development in Mexico, reversing an earlier decision by the indebted North Sea driller to exit the project. View the full article
TotalEnergies, OML99 operator (40%) in partnership with the Nigerian National Petroleum Corporation (NNPC, 60%), has announced the start of production from the Ikike field, in Nigeria. 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
OPEC delivered barely half the oil-production increase it had planned for October as African members continued to struggle with output losses. View the full article
Cold-stricken Europe is drawing a flotilla of U.S. liquefied natural gas cargoes amid an energy crisis that has sent gas prices to record levels. 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.