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Libya’s crude exports climbed after a ban on production and shipments was lifted in mid-July, a trend that may help cool fears about the OPEC member’s ability to supply global markets. View the full article
U.S. President Joe Biden said he’s disappointed by the surprise OPEC+ decision to slash oil production but that he doesn’t regret a trip to Saudi Arabia just three months ago in which he urged its leaders to keep crude flowing. View the full article
Wood will deliver a comprehensive concept study for the Greater Sunrise Development, considering engineering, technology, financing, commercial structures, fiscal, environmental, health & safety and socioeconomic drivers including local content. View the full article
Kent and the Energy Institute have announced a collaboration to create comprehensive guidelines for the economics of decarbonization in greenhouse gas (GHG) emission reduction projects within the upstream oil and gas sector. View the full article
Pressure pumping operators across North America reduced diesel use by approximately 100 million gallons in 2023, thanks to Caterpillar Oil & Gas' Cat Tier 4 Dynamic Gas Blending (DGB) system. View the full article
Kent, a UAE-headquartered engineering company, has launched its UAE Designers and Drafters Training Program. This initiative is specifically designed to equip young Emirati high school graduates and engineering diploma holders with the skills and knowledge necessary to excel in the energy industry. View the full article
India's oil minister and the Organization of Petroleum Exporting Countries’ top official publicly jousted over the cartel’s policy shift at a conference hosted by the Atlantic Council on Tuesday. View the full article
Preliminary estimates place the size of the discovery in the Fram prospects between 12 and 19 million standard cubic meters of recoverable oil equivalent, corresponding to 75-120 million barrels of recoverable oil equivalent. View the full article
Iran said it will soon export oil from a new port that allows it to bypass the Strait of Hormuz, as nuclear talks between Tehran and other world powers show signs of progress. View the full article
Royal Dutch Shell said it will appeal a ruling by a Dutch court which ordered it to cut its carbon emissions by 45% over the next decade. View the full article
Shell Enterprises LLC, a subsidiary of Royal Dutch Shell plc, has reached an agreement for the sale of its Permian business to ConocoPhillips, a leading shale developer in the basin, for $9.5 billion in cash. View the full article
A potential release from the U.S. Strategic Petroleum Reserve intended to bring down gasoline prices may have little effect, oil market participants warn, even as the Biden administration floats the idea as a way to provide immediate relief at the pump. View the full article
China slashed its fuel export quota by more than half in the first batch of allocations for 2022, highlighting the nation’s strategy of progressively limiting overseas sales. View the full article
As he opened the COP26 climate talks in November, Boris Johnson warned “it’s one minute to midnight” in the race to slash planet-heating carbon emissions. His government has since announced £37 billion of funding focused squarely on subsidizing the consumption of energy -- much of it fossil fuels. View the full article
U.S. shale drillers are expected to post record second-quarter profits in coming days, reversing nearly a decade of debt-fueled losses. View the full article
The National Ocean Industries Association has named Vallourec as the winner of the inaugural NOIA Environmental, Social, & Governance Excellence Award. View the full article
Under the terms of contract, ABL can be called on to provide rig assurance, equipment focused inspections, drilling readiness peer reviews, client representation and technical risk assessments. View the full article
The slowdown in production outside OPEC+, particularly in the U.S., is expected to narrow the global oil market surplus in 2025, though production will still outpace demand. View the full article
The assets, located in Weld County, Colorado, add 5,592 net leasehold acres, 89 approved well permits, and 26 operated horizontal wells, enhancing Prairie’s cash flow in the DJ basin. View the full article
INEOS and Royal Wagenborg have signed a landmark agreement on the delivery of CO2 transportation. This multi-year agreement will see Royal Wagenborg supply a newly built CO₂ carrier dedicated to Project Greensand, led by INEOS with its partners Harbour Energy and Nordsøfonden. View the full article
Over the long-term, the impacts of behavioral shifts due to COVID-19 are minor compared to “known” long-term shifts such as decreasing car ownership, growing fuel efficiencies and a trend towards electric vehicles, whose impact is estimated to be three-to-nine times higher than the pandemic’s by 2050. View the full article
The UK government said it has reached an agreement with the country’s oil and gas industry that will help safeguard jobs as the nation strives to achieve net-zero emissions of greenhouse gases. View the full article
Oil extended losses after an increase in U.S. crude inventories added to concerns around the prospect of more Iranian oil returning to the market under a potential revival of the nuclear deal. View the full article
Despite volatility in global oil markets, U.S. crude oil exports reached a record high in 2020, maintaining momentum in 2021 with crude oil exports reaching 3.00 million barrels per day (bpd). View the full article
ConocoPhillips agreed to acquire Royal Dutch Shell Plc’s Permian Basin assets for $9.5 billion in cash, accelerating the consolidation of the largest U.S. oil patch. 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.
