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Pipeline operators who fail to report cybersecurity attacks to the Department of Homeland Security could face fines of $7,000 a day or more under regulations being released Thursday in response to the ransomware attack that temporarily paralyzed the nation’s biggest fuel pipeline. View the full article
ConocoPhillips beat estimates as rising commodity prices led America’s biggest independent oil producer to the highest profit in nearly three years. View the full article
The U.K. has given permission for new drilling in the countryside south of London to establish the size of a natural gas field, as the government seeks to boost domestic energy production due to price volatility amid Russia’s war in Ukraine. View the full article
Nigeria’s energy regulator overruled President Muhammadu Buhari’s approval of a $1.28-billion purchase of Exxon Mobil Corp. assets, in a high-profile disagreement that may discourage investment in the country’s struggling oil and gas industry. View the full article
McDermott has secured an engineering, procurement, construction, and installation (EPCI) contract from QatarEnergy LNG for the North Field South (NFS) offshore pipelines and cables project. 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
During a recent call with investors, Suncor Energy CEO Mark Little commented on the future of the Terra Nova FPSO and efforts to confirm the Asset Life Extension project of the vessel. View the full article
Exxon Mobil Corp. shares rose to the highest intraday level ever Wednesday and are on track to close at a record, stoked by an almost 60% surge in crude prices that’s lifting oil supermajors and complicating efforts to fight global inflation. View the full article
Devon Energy Corp. agreed to acquire Validus Energy for about $1.8 billion in cash to expand in the Eagle Ford shale patch in South Texas. View the full article
Oil surge continues as investors feel that the demand is back on track and it’s finally irreversible regardless of the bad news on the Coronavirus front with the discovery of new variants.
Investors seem to be particularly buoyed by the projected increase in demand by two leading developing countries in Asia, India and China, as the respective economies show healthy signs of recovery.
Although activities in the South China Sea involving the world’s two biggest economies is a concern, t
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
This new name and new visual identity embody the course TotalEnergies has charted for itself: that of a broadly-focused energy company committed to producing and providing energies that are ever more affordable, reliable and clean. View the full article
American Petroleum Institute (API) President and CEO Mike Sommers has named Amanda Eversole as Executive Vice President and Chief Advocacy Officer, where she will lead the organization’s integrated advocacy efforts across the federal government relations, state government relations, and external mobilization departments. View the full article
W&T Offshore Inc. has hired Skadden, Arps, Slate, Meagher & Flom to conduct an internal investigation on management’s close relationship with information-technology vendor AAIT. 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
OPEC+ is unlikely to increase output in the coming months because of limited spare capacity, according to the International Energy Agency. View the full article
Following a call for tender, Vallourec has been awarded a contract by TotalEnergies to supply almost 5,000 tonnes of OCTG solutions and associated services for the Kaminho deepwater project on Block 20, 100 km offshore Angola. View the full article
Enbridge Inc. Chief Executive Officer Greg Ebel has played a major role in the company’s transformation from an oil-focused pipeline operator into a sprawling enterprise with businesses touching all forms of energy. View the full article
The Pew Research Center released a new poll which found that nearly two-thirds of the U.S. public opposes phasing out fossil fuels as a means of addressing climate change. View the full article
Neptune Energy announced the safe and successful installation and testing of the world’s longest trace-heated subsea production pipeline at its operated Fenja field in the Norwegian sea. View the full article
European energy markets from natural gas to carbon permits jumped to records, signaling the supply shortage will get worse just as the winter season starts. View the full article
The leading trade body for the UK’s offshore energy industry, Offshore Energies UK, launched new guidelines to help oil and gas companies reduce methane emissions from the production of oil and gas. View the full article
Shell had been spending heavily in offshore wind, aiming to leverage its experience extracting oil and gas at sea to become a leader in the technology. But soaring costs in the sector and a renewed focus on driving returns for shareholders under CEO Wael Sawan has led the company to back away from the energy source. View the full article
The G-18-AP permit is offshore from Onslow, Western Australia, and covers an area of approximately 8,467 km2 with water depths of 50-1100 m. The permit area will be evaluated as part of a hub for storing third party emissions, including those from Chevron’s operated LNG assets. 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
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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.
