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Angola aims to produce 1.1 MMbopd by 2027, with plans to reach 2 MMbpd in the long-term. At the same time, the country aims to increase the share of natural gas in the energy mix to 25% by 2025, highlighting strategic opportunities for foreign investors and project developers. View the full article
Ahead of the first presidential debate, API is calling both candidates, as well as policymakers on both sides of the aisle, to leverage America’s energy resources to help protect consumers and cement U.S. energy leadership. 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
SM Energy Co. and Northern Oil and Gas Inc., two U.S. shale drillers, agreed to acquire assets in Utah’s Uinta basin for about $2.6 billion in cash, the latest in a string of oil and gas acquisitions as operators look to scale up. View the full article
Eirin is a gas field located 250 km west of Stavanger. The field will be developed as a subsea facility that will be adapted and prepared as a tie-in point for future discoveries in the area that can be expanded with new wells. View the full article
Transocean Ltd. announced contract fixtures for three of its harsh environment semisubmersibles. Together, the fixtures represent approximately $161 million in firm contract backlog. View the full article
The Fram Sør solution will use SLB OneSubsea’s standard subsea tree design, upgraded with a fully electrified power, control and actuation system, while the elimination of high-pressure hydraulic systems will enable operators to go further and deeper, improving production and making even marginal fields more viable. View the full article
The project is expected to achieve a peak production of approximately 18,100 boed day in 2026, and the oil property is light crude. It is the first oil field in the South China Sea supplied with onshore power. View the full article
U.S. District Judge James D. Cain Jr. in Louisiana issued a preliminary injunction Monday in a lawsuit filed by 16 states, which argued Biden violated federal law by halting licenses in January to assess impact of shipments on climate change. View the full article
Aramco and Sempra have executed a non-binding Heads of Agreement (HoA) for a 20-year sale and purchase agreement (SPA) for liquefied natural gas (LNG) offtake of 5.0 million tonnes per annum (MMtpa) from the Port Arthur LNG Phase 2 expansion project. View the full article
Together, bp and Worley will deepen collaboration across a portfolio of site projects by leveraging digital capability and global scale to further drive efficiency across engineering, procurement, construction development and management. View the full article
“The federal Liberal and NDP coalition has passed draconian legislation that will irreparably harm Canadian’s ability to hear the truth about the energy industry and Alberta’s successes in reducing global emissions," said Alberta Premier Danielle Smith, along with Canadian Minister of Energy and Minerals Brian Jean and Environment and Protected Areas Minister Rebecca Schulz. View the full article
CGX Energy Inc. and Frontera Energy Corporation, joint venture partners in the Petroleum Prospecting License for the Corentyne block offshore Guyana (the “License”), has submitted a Notice of Potential Commercial Interest for the Wei-1 discovery to the Government of Guyana, which preserves the Joint Venture’s interests in the License. View the full article
Wood will deliver a comprehensive concept study for the Greater Sunrise Development, considering engineering, technology, financing, commercial structures, fiscal, environmental, health & safety and socioeconomic drivers including local content. View the full article
The MoU establishes a governance platform supporting Petrobras’ and Shearwater’s joint effort to innovate technologies that improve insights to the subsurface and enhance data value, while also reducing the time, cost and environmental impact of seismic acquisition projects. View the full article
Coordinated crude production reductions by the Organization of Petroleum Exporting Countries (OPEC) and its allies have led to a balanced global oil market, according to U.S. shale giant EOG Resources Inc. View the full article
Exxon filed an environmental authorization application with the government Monday for an investment that’s expected to boost the country’s overall production capacity to nearly 1.5 MMbpd, about the same as OPEC member Nigeria. View the full article
Environmental groups won a case in 2021 that halted the exploration activity in an area known as the Wild Coast. South Africa’s Supreme Court of Appeals dismissed Shell's appeal on Monday. However, it suspended the orders setting aside the granting of the exploration right and each of the two renewals in 2017 and 2021, pending finalization of the third renewal. View the full article
Oceaneering is contracted to supply up to 362 km, or approximately 225 miles, of steel tube and thermoplastic electro-hydraulic umbilicals and associated subsea distribution hardware for use in projects offshore Brazil. View the full article
The combination of AGR and Ross Offshore will further strengthen the group’s centre of technical excellence in wells, reservoirs and marine & survey management. View the full article
The Nigerien nationals, who worked for the local affiliate of China National Petroleum Corp., were at Benin’s Sèmè Kpodji port to control the loading of crude for export, the ruling junta known as Council for the Safeguarding of the Homeland, said in a statement late Saturday. View the full article
South Korea's president touted the field as holding as much as 14 Bboe of resources, enough for four years of oil consumption, and 29 years of gas demand in the country. The announcement sent local oil and gas shares soaring and was trending on social media for days. View the full article
Energy Workforce & Technology Council (EWTC) issued a statement applauding the introduction of S.4405, the "Natural Gas Tax Repeal Act," by U.S. Senator Ted Cruz. If passed, the act would repeal the recently implemented tax on methane emissions, a move that the EWTC believes is crucial for the future of the energy industry. View the full article
The Sangomar Field Development Phase 1 features the Léopold Sédar Senghor FPSO, named after the first president of Senegal, which is moored approximately 100 km offshore Senegal, with a nameplate capacity of 100,000 bpd. 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.