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APT expects to produce 40 MMcfd in the first year of production and to increase that to 140 MMcfd within a few years’ time, according to a Gas Sales Agreement signed with the Tanzanian Petroleum Development Corporation (TPDC) earlier this year. Such volumes will increase Tanzanian natural gas production significantly. View the full article
The next monthly meeting of the OPEC+ on March 4, is going to be crucial for the oil price in particular and the economies of the world regardless of their strength in general.
At present, the factors which are always in favour of steady oil price are active and in full swing: the inventory draws are significant; China has been importing crude oil at an increased pace and so has India; Covid-19 vaccines bring in new hope for controlling the pandemic.
In this context, OPEC+ can play the
Fairfield Energy announced the end of an era with the removal of the topsides from Dunlin Alpha. This is the latest milestone in the decommissioning of the four fields which make up the Greater Dunlin Area. View the full article
Haitian-American oil tycoon Emmanuel Fritz Paret, CEO of Paret Mining LLC, has acquired a 10,000-acre oil reserve in Bowling Green, Kentucky. View the full article
The Texas Railroad Commission is taking action to prioritize natural gas supplies to support electricity generation, as the state faces multiple days of record cold temperatures. View the full article
Callon Petroleum Co. failed to win over investors Wednesday after announcing its biggest-ever acquisition to bulk up in America’s most prolific shale patch. View the full article
SBM Offshore has been awarded contracts to perform front end engineering and design for an FPSO for the Yellowtail development project. The FEED contract award triggers the initial release of funds by ExxonMobil’s subsidiary Esso Exploration and Production Guyana Limited to begin FEED activities and secure a Fast4Ward hull. View the full article
A new joint venture between EnerMech and Oil & Gas Proserv, an affiliated company of Nobel Energy Group in Azerbaijan, has secured its first two contracts in the region totaling $3 million. View the full article
Libya’s oil production has almost fully halted as a political crisis leads to more shutdowns of ports and fields. View the full article
Features of the FPSO'd include zero routine flaring and venting, variable speed drives and measures to control emissions and capture CO2, including an all-electric concept, which focuses on efficient power generation and increased energy efficiency to achieve a 30 percent reduction in greenhouse gas emissions intensity compared to a design which does not include such technologies. View the full article
On Boxing Day in 2020, we were mostly indoors due to the lockdown over the Christmas period in the United Kingdom; nature hardly helped alleviate the gloom during the difficult time either in the hour of national need; on the contrary, its fury developed into a monstrous storm, knows as Storm Bella, which relentlessly battered the British Isles.
Being true to the cliché, the dark clouds did have a silver lining as far as the camp of renewables was concerned; the winds of Storm Bella, with g
OPEC+ stuck to its plan to hike oil output in July, but Saudi Arabia’s energy minister kept the market guessing as to whether the group will add more supply later this year to keep pace with the accelerating global recovery. View the full article
Two of Big Oil’s biggest players dropped their long-term energy outlooks this week: French energy company TotalEnergies and the Organization of the Petroleum Exporting Countries. They offer quite different visions of the world 25 years from now. View the full article
As the M&A market marched into the new year, $14 billion in deals were announced during the first quarter of 2022. The $6 billion transacted in January was the strongest M&A market launch in five years. 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
Russia defied expectations of a collapse in oil production following its invasion of Ukraine. But Moscow will have to redouble its efforts to find new buyers if it’s to keep output from shrinking in the coming months. View the full article
Russia is supplying more oil to the U.S. than any other foreign producer aside from Canada as American refiners scour the globe for gasoline-rich feedstocks to feed surging motor-fuel demand. View the full article
Oil tumbled to the lowest in nearly six weeks as investors considered the prospect of a release of crude supplies from strategic reserves. View the full article
NDT Global has launched a new 56-inch ultrasonic inline inspection tool, developed in partnership with Aramco, to meet the specific inspection needs of large-diameter pipelines. View the full article
The monthly Oilfield Services and Equipment Employment Report, compiled and published by the Energy Workforce and Technology Council, estimates a peak of 102,000 pandemic-related job losses. Since then, the industry has gained back more than 23,000 jobs. View the full article
A new round of windfall taxes would leave the UK facing decades of energy insecurity and heap further costs on consumers, Offshore Energies UK has warned. View the full article
Earlier this month, state-run Nile Petroleum Corp. assumed control of PETRONAS’ oil fields and assets – effectively repossessing the Malaysian company’s investment – and announced it would seek a new partner to ensure operations continue. View the full article
At 04:27 GMT on Monday, Brent crude price went up by $1.09, a rise in 1.8%. WTI crude, meanwhile, gained $1.28. Analysts may think the stimulus package announced by the Biden administration and the hopes of success of the vaccination programmes across the world are behind the spike in crude price in the morning hours in Asia.
It, however, was triggered off by a drone operation aimed at Saudi Arabia by Houthi rebels. According to Saudis, a drone, laden with explosives, was detected by the Sa
Under an Interior Department order issued Tuesday, the agency is temporarily halting action on nine leases spanning more than 400,000 acres (161,870 hectares) of the Arctic National Wildlife Refuge, while it conducts a fresh environmental analysis of the program. View the full article
In a move strongly endorsed by Offshore Energies UK it has launched the UK’s first-ever carbon storage licensing round, offering 13 areas of the seabed as potential sites for permanently storing millions of tons of CO2. 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.
