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ADNOC awarded a $744 million contract to China's CNPC for the full field development of the Belbazem Offshore Block, underscoring ADNOC's drive to unlock and maximize value from all of Abu Dhabi’s fields as it expands its oil production capacity to 5 MMBPD by 2030. View the full article
“Our two organizations have worked together side by side for many years on numerous initiatives and global events. Joining forces would bring the best of both organizations together and provide additional value to engineers, geoscientists, and the broader energy sector,” said Rick Fritz, AAPG president. View the full article
A verdict holding oil companies liable for greenhouse gas emission caused by the burning of fossil fuels they’ve extracted would be a landmark victory for environmental campaigners, who’ve increasingly turned to courts to seek reforms. View the full article
The merger of Cabot Oil and Gas Corp. with Cimarex Energy Co. announced Monday has confounded investors and analysts, leaving them to question the logic behind a tie-up that the companies say will increase diversification. Cimarex is mostly an oil explorer in Texas and Oklahoma, while Cabot is focused on natural gas drilling in the Marcellus shale basin in Appalachia. View the full article
An unprecedented fight over who should sit on the board of Exxon Mobil Corp. is turning into a referendum on CEO Darren Woods as a decades-long struggle by climate campaigners comes to a head. View the full article
An unprecedented fight over who should sit on the board of Exxon Mobil Corp. is turning into a referendum on Chief Executive Officer Darren Woods as a decades-long struggle by climate campaigners comes to a head. View the full article
Shell Oil Company has reached an agreement for the sale of its interest in Deer Park Refining Limited Partnership, a 50-50 joint venture between Shell Oil Company and P.M.I. Norteamerica, S.A. De C.V., a subsidiary of Pemex, for a total consideration of $596 million. View the full article
Cabot Oil and Gas Corp. agreed to merge with Cimarex Energy Co., combining two mid-tier shale drillers in an all-stock transaction valued at about $7.4 billion as the U.S. oil and gas sector continues to consolidate. View the full article
The aim of the collaboration is to improve overall efficiency of the design and construction process, and of the asset lifecycle support services for projects in the offshore and marine industry. View the full article
Ministers gathering in the Icelandic capital Reykjavik for a meeting of the Arctic Council last week weren’t due to discuss security. But the issue dominated conversations on the sidelines after Russia’s Foreign Affairs Minister Sergei Lavrov declared ahead of the summit that the Arctic “is our land and our waters.” View the full article
The pipeline at the center of a years-long battle between oil companies and the Standing Rock Sioux tribe may remain in service even though it lacks a valid federal easement for a water crossing in North Dakota, the U.S. District Court for the District of Columbia said Friday. View the full article
China is set to extend its dominance in the global oil market as planned tax adjustments spark a chain reaction, prompting processors to boost crude imports and raise refinery run rates. View the full article
Oil is “in a holding pattern until we get to June, because that’s when Europe’s going to start to reopen and the U.S. driving season will have officially kicked off,” said Jay Hatfield, CEO of Infrastructure Capital Management. “Between now and then, the main influences will be Iran headlines as a headwind” and signs of further improvement in the U.S. market as a supportive factor. View the full article
A natural gas pipeline linking Russia and Germany edged closer to completion after the Biden administration loosened sanctions of the controversial project, but significant hurdles remain before the fuel can start flowing under the Baltic Sea. View the full article
By deploying digital solutions enabled by the DELFI environment and running on Amazon Web Services, Schlumberger customers can run complex models, computer simulations, and analyses in a fraction of the time compared to traditional computing solutions. View the full article
The London-based oil and gas company is looking to fill 100 offshore-wind jobs in the UK and the U.S., a figure which could double by the end of the year. The recruitment drive comes even as thousands of other employees have left the company amid a wider restructuring. View the full article
The world’s top exporter of liquefied natural gas is ramping up production dramatically and undercutting competitors in a bid to squeeze them out the market. View the full article
Iran’s President Hassan Rouhani said world powers have accepted that major sanctions on his country -- including those on oil, banking and shipping -- will be lifted as part of an agreement with the U.S. to revive a 2015 nuclear deal. View the full article
Iran’s President Hassan Rouhani said world powers have accepted that major sanctions on his country -- including those on oil, banking and shipping -- will be lifted as part of an agreement with the U.S. to revive a 2015 nuclear deal. View the full article
“Since it began commercial operations in 2002, Malampaya has supplied a significant portion of the Philippines’ energy demand and it will continue powering the country with indigenous gas following a safe transition of the asset and its experienced workforce,” said Wael Sawan, Shell’s Upstream Director. View the full article
Oil plunged to the lowest level in three weeks alongside a broader market decline with traders also concerned about growing supply from the U.S. and Iran. View the full article
“We have made substantial progress over the last 10 days but there are still things to be worked on and we will reconvene next week,” said Enrique Mora, the EU official in charge of coordinating diplomacy in the Austrian capital. “The spirit of compromise is high.” View the full article
Oil plunged to the lowest in three weeks alongside a broader market decline with traders also concerned about growing supply from the U.S. and Iran. 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
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
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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.
