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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
Saudi Aramco overtook Apple Inc. as the world’s most valuable company, stoked by a surge in oil prices that is buoying the crude producer while adding to an inflation surge throttling demand for technology stocks. View the full article
Oil ended the day little changed after a volatile session in which the latest U.S. inflation report and data showing high prices hitting U.S. fuel demand roiled prices. View the full article
Oil production across American shale patches next year is expected to climb as producers take advantage of a price recovery, according to a government report. View the full article
Natural gas futures soared as forecasts for chilly November weather in the U.S. East heightened concern that supplies will struggle to meet demand this winter. View the full article
The sustained OPEC+ production curtailment through April suggests that supply will remain constrained in the near term, even as demand continues to increase. As a result, the U.S. Energy Information Administration expects that further inventory withdrawals to meet rising crude oil demand will support crude oil prices through at least the end of April. View the full article
Oil majors are gearing up to explore off the coast of Colombia, offering hope to a country struggling to reverse declines in reserves and output of its biggest export. View the full article
The OSDU Data Platform is a cloud native, open-source technology which provides the energy industry a toolbox to address the undifferentiated capabilities needed to manage large, disconnected data sets. View the full article
New laws imposing £5 billion of new taxes on the UK’s offshore oil and gas operators risk driving away investors and undermining the nation’s future energy supplies, the industry’s leading trade body has warned. View the full article
Golden Pass, in its motion, urged the court to force Zachry — which filed for Chapter 11 proceedings in May and laid off thousands of workers from the Golden Pass site — to walk away from its contract and allow the joint venture to hire replacement workers. View the full article
South Sudan is experiencing a rapid drop in crude output as producing oil blocks have hit peaks and have begun to decline, according to Ministry of Petroleum Undersecretary Awow Daniel Chuang. View the full article
Located 20 nautical miles (37 km) from the coast, the lease covers a 120 square nautical miles area (222 sq km) that will generate a capacity of more than 1 GW, enough to provide power to more than 300,000 homes. View the full article
A bipartisan pair of senators is pressing the Biden administration to use secondary sanctions to enforce a cap on the price of Russian oil. View the full article
Changes in the tax regime, in particular a windfall levy on oil and gas introduced two years ago and extended until March 2029, has affected independent oil and gas producers listed in the UK and their ability to raise money. View the full article
The Board of Frontier, the privately held Houston-based international gas exploration company with a focus on Southern Africa, said its activities in Namibia are continuing to exceed expectations. View the full article
A preliminary deal struck on Thursday to increase oil production by 400,000 barrels per day was thrown into chaos when the United Arab Emirates threatened to block the deal without a higher output quota for itself. View the full article
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The North Sea Transition Authority, formerly known as the UK Oil & Gas Authority, published its Corporate Plan outlining how it will support the industry for the next five years. View the full article
Overall, Q2 was a challenging quarter for negotiating deals as volatility roiled both commodity and equity markets. Despite that, about $12 billion was transacted in upstream M&A. View the full article
Oil and gas companies are increasingly under pressure to keep maintenance costs down, and maintaining fluid systems at peak performance is an essential way to help accomplish it. Building a basic understanding of corrosion—what it looks like, where it occurs, and for what reasons— can help prevent material failure and costly repairs while improving system longevity.
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As the Biden Administration aims to significantly increase federal investment in renewable energy under the American Jobs Plan, the United States already ranks as the most attractive market for renewables investment, according to results from a new ranking by IHS Markit. View the full article
OPEC producers will need to pump crude at the fastest pace in five years in 2023 if they are to balance oil supply and demand. Capacity constraints suggest they may struggle. View the full article
ExxonMobil has started appraisal drilling at its Lau-Lau 2 well site in the prolific Stabroek Block offshore Guyana, where it had previously discovered over 300 ft of oil at the Lau-Lau 1 well. The Maritime Administration Department announced that this appraisal, conducted by the drillship MODU Noble Sam Croft, will run from June 16 to July 31, 2024. View the full article
Total and Microsoft have agreed to collaborate as strategic partners to further digital transformation and support progress toward net-zero emissions. View the full article
Focused on driving sustainability in the region through digital transformation, the partnership will help enable AVEVA to establish their largest digital hub, with an RandD capability, in the Middle East, headquartered in Saudi Arabia. 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.
