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Daily crude production kicked off the year at 3.73 MMbpd, then plummeted nearly 25% following offshore maintenance. Now, more than one-third of the deficit has been restored, offering far-reaching implications for Latin America’s largest economy and worldwide energy markets. View the full article
Outside of the U.S. and OPEC, Brazil is set to add more crude production through 2026 than any other country. It wants to double crude output by 2030 to become the world’s fifth-largest exporter, and even if it doesn't hit that target, low-cost oil plays have positioned the country well to emerge as one of the world's most important sources for production growth. View the full article
ApexBrasil is partnering with numerous companies and organizations to highlight the country's burgeoning leadership in the sector at the Offshore Technology Conference (OTC) in Houston, Texas. View the full article
Brazil alone is expected to contribute around 23% or 1.3 million barrels per day of global crude oil and condensate production in 2025 from key offshore planned and announced projects that are expected to start operations between 2021 to 2025, according to GlobalData. View the full article
Brazil alone is expected to contribute around 23% or 1.3 million barrels per day of global crude oil and condensate production in 2025 from key offshore planned and announced projects that are expected to start operations between 2021 to 2025, according to GlobalData. View the full article
Out of $8.45 billion in profits BP posted for the second quarter, $3.5 billion will be used to buy back the company’s own shares, and the dividend will rise by 10%. View the full article
The FPSO is expected to process over 500 Mmcfgd. It will remove water, condensate and impurities from the gas before transferring it via pipeline to the Floating Liquified Natural Gas (FLNG) vessel at the Hub Terminal approximately 10 km offshore. 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
BP and PetroChina formed a joint venture to manage the giant Rumaila field in Iraq, an operating structure the British oil major has adopted in other parts of the world as it focuses on the energy transition. View the full article
BP Plc and Russia’s Lukoil PJSC want to sell down their assets in Iraq, according to the country’s oil minister. View the full article
Coconut will be a 50/50 joint venture with EOG as operator. The final investment decision has been taken by the joint venture partners and first gas is expected in 2027. View the full article
The two energy giants have signed a non-binding agreement to discuss combining their upstream portfolios in the West African nation. That could be a boon to the country’s beleaguered oil industry, which has seen production slump by more than a third since 2015 amid chronic under-investment. View the full article
BP Berau Ltd. (bp) and Chubu Electric Power have expanded their collaboration to explore a carbon capture and storage (CCS) value chain between Japan's Port of Nagoya and the Tangguh field in Papua Barat, Indonesia. View the full article
Last year BP said it would restructure the company to focus on cleaner energy and shrink its hydrocarbon business by 40% over the coming decade. Since announcing its strategy shift, the major has sold a string of oil and gas assets while making big investments in offshore wind. View the full article
BP will spend about $1.3 billion to build a network of pipelines and other infrastructure to collect and capture natural gas produced as a byproduct from oil wells in the Permian Basin of Texas and New Mexico, the Wall Street Journal reported. View the full article
Palantir’s AIP software will assist bp to safely and reliably harness large language models to improve and accelerate human decision-making with suggested courses of action based on automated analysis of the underlying data. Within the software, the robustness of the underlying data infrastructure and digital twin are combined with tools to ensure transparency into AI recommendations. View the full article
BP Plc is beefing up its bid to develop wind projects off Scotland’s coast with the promise of creating hundreds of local jobs if it wins. View the full article
BP announced a significant milestone with the safe start-up of the Manuel project in the US Gulf of Mexico, the fourth of five major projects expected to be delivered globally in 2021. View the full article
Pavilion Energy Trading and Supply and BP Singapore have signed a long-term LNG sale and purchase agreement for the supply of approximately 0.8 million tons of LNG per year to Singapore for 10 years from 2024. As part of the agreement, both companies will strive to co-develop and implement a greenhouse gas quantification and reporting methodology. View the full article
BP sold out of Canada’s oil sands, divesting its stake in the Sunrise project to Cenovus Energy Inc. while acquiring offshore exploration from the same company in the east of the country. View the full article
BP sold out of Canada’s oil sands, divesting its stake in the Sunrise project to Cenovus Energy Inc. while acquiring offshore exploration from the same company in the east of the country. View the full article
As world leaders discuss the fight against climate change, global oil demand has bounced back above the key level of 100 million barrels a day last seen before the Covid-19 pandemic, according to BP Plc. View the full article
BP announced that it is developing plans for the UK’s largest blue hydrogen production facility, targeting 1GW of hydrogen production by 2030. The project would capture and send for storage up to two million tons of CO₂ per year. View the full article
BP Plc plans to build a green hydrogen facility in northeast England that could start producing the gas by 2025, part of a massive project to help the oil major transition toward cleaner sources of energy. View the full article
BP paid tax on its UK North Sea business in 2021 for the first time in at least six years, according to the company’s latest payments to governments report. 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.
