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CEO Alan Armstrong's comments came Tuesday as Vice President Kamala Harris tapped Minnesota Governor Tim Walz as her running mate in her presidential campaign bid against Donald Trump. Harris has a track record of opposition to offshore drilling and fracing, suggesting she’d be a fierce oil-industry antagonist if she were to win the White House in November. View the full article
Sercel and Kappa Offshore Solutions introduced PIKSEL, a compact marine seismic solution specially designed for acquiring seismic data for high-resolution 3D imaging of targeted offshore areas. View the full article
Laredo Petroleum announced a purchase and sale agreement to acquire the assets of Sabalo Energy, a portfolio company of EnCap Investments, and a non-operating partner for about $715 million, and the sale of 37.5% of Laredo's operated PDP reserves in its legacy leasehold in Reagan and Glasscock counties to an affiliate of Sixth Street Partners for proceeds of $405 million. View the full article
Favorable hedge positions represent the biggest test yet of shale’s newfound resolve to act with discipline and focus on investor returns, and avoid a return to the relentless pursuit of growth. View the full article
Libya’s oil production is in danger of slumping again, as a political power struggle threatens to end a period of relative stability. View the full article
Executives from Exxon Mobil, Chevron, Royal Dutch Shell and BP were urged by U.S. lawmakers to abandon the leading oil-industry trade group and cut off funds to any groups sowing doubts about climate science. View the full article
The Biden administration’s release of crude from U.S. emergency reserves in an effort to cool oil’s rally is going into a second round, with bids due by the first working day of the year. View the full article
The war in Ukraine has prompted Europe to reshape its energy policy, and once-snubbed U.S. LNG is now a key part of a European Union’s strategy to wean itself off Russian gas expected to be outlined this week. View the full article
The inauguration of the Nigerian National Petroleum Company Limited initiates a monumental shift in active engagement, accountability and value that is expected to reshape Nigeria’s petroleum industry, while simultaneously acting as a model for other National Oil Companies on the continent. View the full article
The shale asset (named Tatonka, approx. 46,500 acre) is in Texas with access to the Gulf Coast industrial area, which includes LNG export terminals and ammonia plants. MEPUSA will begin a drilling campaign to evaluate the well performance and develop and operate the asset for full-scale development after 2026. View the full article
CNOOC has been searching for offshore oil and gas resources in the South China Sea for decades. Multiple large-size gas fields have been discovered, namely Dongfang 1-1, Liwan 3-1, Lingshui 17-2, Baodao 21-1 and now, Lingshui 36-1. By far, the total proved gas in-place in the region has exceeded 1 Tcm. View the full article
With new coronavirus infections falling to a record low last week and vaccination efforts ramping up, the latest crude demand rebound comes with a lower threat of being set back again by new outbreaks. View the full article
The leading representative body for the UK offshore oil and gas industry has today paid tribute to former Energy Minister Paul Wheelhouse and urged all parties to support the sector and its world class supply chain in order to realize homegrown greener energy. View the full article
Texas Governor Greg Abbott is pushing regulators to strengthen incentives for fossil fuel and nuclear power generators in an effort to avoid a repeat of deadly blackouts seen this winter. View the full article
“These discoveries are part of an extensive well program in the Stabroek Block utilizing six drillships to test play extensions and new concepts, evaluate existing discoveries and complete development wells for the Liza Phase 2 and Payara projects,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. View the full article
TotalEnergies SE Chief Executive Officer Patrick Pouyanne said it’s “too early” for the French oil major to consider spinning off its renewable-energy business because that segment may triple in value by 2025. View the full article
European supermajors TotalEnergies SE and Royal Dutch Shell Plc will join Brazil’s state-controlled oil giant at two key fields, marking the latest expansion in Latin America’s largest crude producer and an important victory for President Jair Bolsonaro. View the full article
The Biden administration plans to ease sanctions on Venezuelan oil in a bid to bring more of the country’s crude to Europe. View the full article
A4I gives UK companies of any size access to the UK’s top scientists and most advanced facilities, techniques and technologies in the world. It aims to boost productivity and competitiveness by helping companies to solve problems in innovative ways. View the full article
Now, in a sign of just how much Russia’s invasion of Ukraine has thrown global energy markets into disarray, it’s natural gas, not oil, that’s becoming more coveted in U.S. shale fields. View the full article
MPF5 was launched from the SWS dry dock following the successful completion of planned construction activities, including hull erection, equipment installation and piping outfitting. View the full article
Wood will use its specialist CO2 and blue hydrogen expertise to design the integrated blue hydrogen and ammonia production facility, marine facilities including ammonia storage, 200 kilometre pipeline and CO2 injection facility. View the full article
More focused than ever on keeping spending in check, shale operators haven’t been drilling new wells fast enough to keep up with output declines in older ones. So, next month, their combined production will edge lower by 47,000 barrels a day to about 7.46 million, according to the U.S. Energy Information Administration. View the full article
Bilfinger will perform inspection services on the offshore assets of Total EandP (Exploration and Production) Denmark. The €40 million ($48.6 million) contract will be booked under Bilfinger’s Engineering and Maintenance Europe segment. View the full article
The state-controlled firm created a new team to review its assets last year, soon after the coronavirus pandemic triggered a plunge in energy prices and strained its balance sheet. Aramco raised $12.4 billion by selling leasing rights over oil pipelines to a U.S.-led group of investors in April. 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.