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Neptune Energy announced the safe and successful drilling of four development wells on the operated Fenja field in the Norwegian Sea, in preparation for production start-up, the company said on July 25. View the full article
Subsea7 has entered into four long-term vessel charter agreements with Otto Candies LLC and Bordelon Marine LLC, to strengthen offshore construction, inspection, maintenance and repair, ROV survey, and pipe/umbilical laying support operations, in the Gulf of Mexico. View the full article
The Leviathan gas field offshore Israel – touted as the largest gas field in the Mediterranean- is set for an expansion in natural gas export capacity, following preliminary approval from Israel’s Energy Ministry. The approval allows for an increase in export volume by up to 145 Bcm. View the full article
The extension from October provides firm revenue backlog of approximately $24.3-34.2 million, with the option to extend for an additional well, potentially adding a further approximately $26.9-36.9 million. View the full article
Futures have backtracked since Brent rallied above $71 a barrel and U.S. crude topped $67 earlier this month. China has muted its buying, touching off physical-market weakness in Asia, and a shaky Covid-19 vaccine rollout in parts of the world spells trouble for a complete demand recovery in the short term. View the full article
In reporting its first-quarter 2021 results, Neptune Energy said that its production growth momentum in Western European operations is on track for 2021. View the full article
Oil prices climbed as the International Energy Agency warned of a deepening supply crunch. View the full article
Natural gas prices in Europe continued their record-breaking run as uncertainties about supply security this winter worsen. Power prices also surged to a new high amid after a disruption on a power link with France. View the full article
Diamondback Energy Inc. just gave one of the first shale production forecasts for next year, and it’s holding pat. View the full article
Oil settled at the highest level in nearly a month after U.S. crude stockpiles decreased and economic data pushed equities higher. View the full article
Export prices for OCTG from China appear to be softening as the Covid lockdown in Shanghai begins to ease but cases in Beijing are now on the rise. View the full article
BG International Ltd., an affiliate of Shell U.K. Ltd., has taken the final investment decision (FID) to develop the Jackdaw gas field in the UK North Sea, following regulatory approval earlier this year. View the full article
Energy services provider Expro has successfully completed the plug and abandonment of Ireland’s first indigenous gas wells. Expro provided the delivery of integrated subsea and well test services over an eight-month period. View the full article
The Vår Energi-operated Cerisa exploration well in production license PL 636 offshore Norway was successful, with estimated gross recoverable resources of between 18-39 MMboe. View the full article
The Penguins FPSO is a Sevan 400 design with a process capacity of 45,000 bpd and with a storage capacity of 400,000 bbls. The FPSO has been contracted by Fluor and constructed in China, with completion and commissioning at Aibel’s yard in Haugesund, Norway, before handed over to Penguins field operator Shell UK. View the full article
Futures have backtracked since Brent rallied above $71 a barrel and U.S. crude topped $67 earlier this month. China has muted its buying, touching off physical-market weakness in Asia, and a shaky Covid-19 vaccine rollout in parts of the world spells trouble for a complete demand recovery in the short term. View the full article
Magma Global announced delivery of the world’s first high-pressure composite riser pipe to HWCG’s storage location on the U.S Gulf Coast, completing its rapidly deployable Offset Flexible Riser (OFR) system. View the full article
Oil fluctuated as Saudi Arabia and the United Arab Emirates were said to resolve the standoff that has prevented OPEC+ from satisfying a growing clamor for extra barrels. View the full article
China’s first auction of oil from its strategic reserves looks relatively paltry, but the possibility of further releases is still likely to exert a powerful influence on global crude prices. View the full article
The Biden administration is launching an assault on methane Tuesday, advancing initiatives across government - and the globe - to keep the potent, heat-trapping gas from escaping landfills, oil wells and farms. View the full article
Exxon Mobil Corp. is working to extinguish a fire at its Baytown facility in Texas, the fourth-largest refinery in the U.S. View the full article
Schlumberger announced an award to OneSubsea and its alliance partner, Subsea 7, by Kosmos Energy Gulf of Mexico Operations, for an engineering, procurement, construction and installation contract for the Odd Job field in the Gulf of Mexico. View the full article
Record exports of Norway’s Johan Sverdrup crude oil are set to help meet European refineries’ needs as a deadline to phase out Russian supplies draws closer. View the full article
CGX Energy Inc. and Frontera Energy Corporation, joint venture partners in the Petroleum Prospecting License for the Corentyne block offshore Guyana (the “License”), has submitted a Notice of Potential Commercial Interest for the Wei-1 discovery to the Government of Guyana, which preserves the Joint Venture’s interests in the License. View the full article
Anchor production marks the successful delivery of high-pressure technology that is rated to safely operate at up to 20,000 psi, with reservoir depths reaching 34,000 ft below sea level. 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.