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CGG announced the award to Sercel of a major contract to supply land seismic equipment for a 3D mega-crew survey in North Africa. View the full article
The Dutch Mining Council, an independent advisory body to the government, told the cabinet in a letter that it should consider tapping Groningen as an emergency measure to fill storage for the winter, with Russian supplies due to be stopped by the end of the year. View the full article
Russia pumped 43.34 million tons of crude and condensate last month, according to preliminary data from the Energy Ministry’s CDU-TEK unit. That equates to 10.249 million barrels a day, based on 7.33 barrel-per-ton conversion ratio, or 1.3% more than in February. View the full article
OPEC said the global oil market will switch from being under- to over-supplied as early as next month as the economic rebound from the coronavirus pandemic falters. View the full article
As the race to number 10 accelerates, Offshore Energies UK has written open letters to Rishi Sunak and Liz Truss asking them to help consumers over the short and long term by ensuring the next cabinet prioritizes reliable and cleaner energy produced in the UK. View the full article
Cisneros, who is chairman of Cisneros Corporation, is entering a joint venture with PDVSA through Globalable Holding SL. The JV known as Petrocabimas is based in the western Zulia state and is projected to quadruple current production to 50,000 bpd by 2026, Cisneros said in a statement. PDVSA did not reply to a request for comment. View the full article
This move is part of bp’s broader strategy to cut emissions and enhance efficiency through advanced infrastructure, including the development of centralized processing facilities and innovative drilling technologies. View the full article
Sabinal Energy, an oil producer backed by Kayne Anderson, is divvying up roughly 132,000 net acres in the Permian Basin for a sale of the company that could fetch more than $1 billion. View the full article
Weatherford will offer its Accuview downhole monitoring solutions with the AlphaVTM next-generation whipstock system. Notably, in 2023, Weatherford successfully introduced AlphaVTM, enabled by the Accuview platform in the North Sea for Equinor. View the full article
French oil major Total SE must continue to produce gas in Myanmar and pay taxes to the military junta to protect staff from forced labor and maintain electricity supplies, Chief Executive Patrick Pouyanne said in an op-ed in Le Journal du Dimanche newspaper. View the full article
Futures in New York climbed past $67 a barrel, putting crude on track for a second straight monthly gain. OPEC and its allies are expected to stick with a decision to boost output in July when the group gathers Tuesday. View the full article
Global oil prices may rise to as high as $120 by the middle of next year as the ability of OPEC+ to meet demand is at risk from under-investments and sanctions, according to a Rosneft PJSC executive. View the full article
A hydrogen economy that runs factories and power plants on the clean-burning fuel may be years down the road, but that hasn’t stopped U.S. states from jockeying for a share of the $8 billion in federal funds earmarked for so-called hydrogen hubs. View the full article
Catherine will leverage her financial acumen and strategic insight to lead Gulf’s commercial initiatives across media, events, and market intelligence. Her primary focus will be on accelerating revenue growth, refining sales strategies, and expanding market presence. View the full article
Crude has rallied this year as vaccine rollouts help major economies reopen. The decision by the Organization of Petroleum Exporting Countries and its allies was seen as a vote of confidence in the outlook for energy demand. The U.S. also added more than 900,000 jobs in March, the most in seven months. 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
Phase 2 of project approvals is great boost to jump start carbon capture, but all projects are needed if UK is to meet climate goals, industry body OEUK says. View the full article
Tellurian Inc. and Aethon Energy Management LLC announced an agreement for Aethon to acquire Tellurian’s integrated upstream assets for $260 million, alongside a Heads of Agreement for Aethon to purchase 2 MMtpa of liquified natural gas from Tellurian’s Driftwood LNG plant. View the full article
CNOOC Limited announced that the D1 well in the Bozhong 19-6 gas-condensate field, the first ultra-deepwater well in Bohai Bay, has achieved a high yield. The D1 well drilled to a depth of 6,088 m, and is producing approximately 6,300 boed. View the full article
The well, drilled by the Transocean Norge rig, encountered estimated recoverable volumes between 30 million and 140 million barrels of oil equivalent (MMboe). View the full article
With more consolidation brewing in the largest U.S. oil patch, the boss of one of the largest independent shale producers says he’s not interested, and warned that investors are still skittish about deals. View the full article
The United Arab Emirates will accelerate $20 billion of natural-gas projects by awarding contracts for some of them in the coming days, as it seeks to boost exports of the fuel. View the full article
Chief Executive Officer Darren Woods vowed to “safeguard” annual meetings from activists that launch “serial attacks” on Exxon and the oil industry. Exxon is pursuing legal action against Arjuna Capital even though the investor dropped a proposal that would have urged the driller to curb greenhouse gas emissions. 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
Kent, an integrated energy services company, says it had a positive start to 2022 with some strategic project wins across the globe adding a total of over $550 million to the company’s backlog. 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.
