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Green infrastructure developer Cerulean Winds has named NOV as the first of its delivery partners for the fabrication of its proposed integrated 200-turbine floating wind and hydrogen development off the coast of Scotland. View the full article
India’s top energy companies, Petronet LNG Ltd. and ONGC Videsh Ltd., are having discussions about buying a stake in Russia’s planned liquefied-gas project Arctic LNG 2 as their government seeks to secure supplies of the cleaner burning fuel. View the full article
China aims to have non-fossil energy consumption exceed 80% of its total mix by 2060, when the world’s second-biggest economy plans to be carbon neutral, according to guidelines published by the official Xinhua News Agency. View the full article
Saudi Arabia’s energy minister warned traders against shorting oil prices, saying OPEC+ could react quickly to any fall in prices. View the full article
Two months after negotiators left Vienna, expectations are fading that Iran nuclear talks will resume, leaving the world with the remains of an agreement no one’s willing to pronounce dead. View the full article
As U.S. President Joe Biden prepares to visit the Persian Gulf to get more oil onto global markets, political turmoil in another part of OPEC threatens to further undermine the cartel’s production. View the full article
Arabian Drilling Co., a Saudi oilfield-services firm partly held by Schlumberger NV, hired Goldman Sachs Group Inc, HSBC Holdings Plc and SNB Capital to manage its IPO in Riyadh, seeking to join a steady stream of Gulf firms tapping equity markets. View the full article
This sale enables Energean to rationalize the portfolio and focus on its gas-weighted, gas development strategy, underpinned by the Karish Field in Israel and recent farm-in to the Anchois field in Morocco. View the full article
The Pioneer takeover closed in early May, helping lift Exxon’s overall production by 15% on a sequential basis, and setting the stage for daily output to average more than 4 MMbbl this year. View the full article
In the first half of 2024 alone, Kent secured $1.2 billion in new contract awards. The new investments in Houston are designed to further enhance Kent’s ability to serve its clients across North America, particularly in the areas of engineering, project delivery and digital transformation. View the full article
(WO) — ADNOC Drilling announced a significant increase in third quarter 2024 revenue, driven by the company's expansion of onshore and offshore fleets, OFS expansion and joint-venture contributions. View the full article
Equinor and partners Vår Energi and Petoro have struck oil in exploration well 7220/7-4 in production license 532 in the Barents Sea. Recoverable resources are so far estimated at between 5 and 8 million standard cubic meters of recoverable oil, corresponding to 31 – 50 million barrels of recoverable oil. View the full article
Neptune Energy announced it has acquired a 38.75% equity interest from Spirit Energy in the Pegasus West discovery and surrounding acreage in the UK Southern North Sea. View the full article
The Martin Linge field is powered from shore, resulting in low CO2 emissions, and operated from its onshore control room. Expected recoverable resources are approximately 260 million barrels of oil equivalent. View the full article
European natural gas futures surged to record highs on Monday as the amount of Russian gas flowing into Europe through a key entry point dipped, crimping supplies in an already tight market. View the full article
A weather phenomenon that typically delivers harsher winters is on the way and expected to add to Asia’s energy crisis. View the full article
German Chancellor Olaf Scholz, under pressure from the U.S. to halt the Nord Stream 2 pipeline project over Russian aggression toward Ukraine, may quietly delegate the task to the country’s bureaucracy. View the full article
Russia’s oil revenues are up 50% this year even as trade restrictions following the invasion of Ukraine spurred many refiners to shun its supplies, the International Energy Agency said. View the full article
Oil prices pose a high risk to the global economic recovery, with signs that fuel costs are starting to “take their toll” on demand growth, the International Energy Agency said. View the full article
The United Arab Emirates is accelerating a plan to raise its oil production capacity, according to people familiar with the matter, as it tries to cash in on its crude reserves before the world transitions to cleaner energy. View the full article
This well is the first in production license 1170, awarded in 2022 (APA 2021), and was drilled by the Scarabeo 8 rig. The estimated size of the discovery ranges between 3.3 – 4.7 MMboe. View the full article
The regional roll-out has been agreed following successful field trials of the system on bp’s Clair Ridge platform and has been adopted to ensure safer Red Zone management for various hazardous operations. It is the first time the technology has been used for well interventions. View the full article
Lance is among several CEOs looking to utilize North America’s gas reserves, of which the head of ConocoPhillips says is “substantial.” Lance went as far as to predict “a century” of available resources. View the full article
(Bloomberg) -- The U.K. government went no further in toughening up the tax regime for North Sea oil and gas producers than measures already announced, keeping capital allowances in the windfall tax following protests from the industry. View the full article
The U.S. company is buying back stock at an annualized rate of $1.5 billion, it said Tuesday in a statement. That’s an increase of 50% compared with the pace of repurchases in the fourth quarter, the point at which the program was suspended in the wake of Conoco’s acquisition of rival producer Concho Resources Inc. 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.
