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Nigeria lost its crown as Africa’s largest crude producer as Angola surpassed the country for the first time in more than five years. View the full article
The ANPG is spearheading Angola’s oil and gas revitalization with a robust six-year licensing round, fostering international investment, operational expansion and regulatory enhancements to secure the nation’s energy future. View the full article
Wednesday, the Senate approved language calling for Senate negotiators to support the issuance of a new Five Year Program for offshore oil and gas leasing as soon as possible and that the new program should include at least two area-wide lease sales per year. View the full article
Frac sand, which gets blasted through shale rocks to unlock oil and natural gas, is averaging $55 a ton, up from $22 at the end of 2021. Demand is climbing as oil explorers turn the taps back on after Covid-driven cutbacks. View the full article
KBR is launching a study to develop a carbon-neutral, green ammonia-based system to power a semi-submersible drilling unit owned by Odfjell. View the full article
Block 32 is approximately 260 km offshore Luanda, in water depths ranging from 1,400 to 2,000 m. Production started up in 2018 and continues to be one of the biggest producing blocks in Angola. Block 14/14K is approximately 100 km offshore from Cabinda in Angola and covers around 4,094 km2. First oil occurred in 1999 and continues to have significant output of medium light crude oil. View the full article
BP announced a significant milestone with the safe start-up of the Manuel project in the US Gulf of Mexico, the fourth of five major projects expected to be delivered globally in 2021. View the full article
Oil rebounded from an eight-month low as the market shrugged off a U.S. report showing swelling crude stockpiles and slumping demand. View the full article
Providing more detail on Exxon’s recently-announced efforts to commercialize low-carbon technologies, CEO Darren Woods stressed that partnering with outside investors would be a key objective. It would also mean Exxon would not need to fund large projects solely with its own cash. View the full article
The South Sudan Oil Licensing Round aims to attract interest from a diverse group of foreign investors to a region that is already home to oil and gas majors from China and Malaysia. View the full article
INEOS is renewing its offer to the UK government and the new Prime Minister Liz Truss to drill a shale gas test well in the UK. View the full article
Oil prices surged to the highest levels in nearly two years after the OPEC+ alliance surprised traders with its decision to keep output unchanged, signaling a tighter crude market in the months ahead. View the full article
BP Plc is beefing up its bid to develop wind projects off Scotland’s coast with the promise of creating hundreds of local jobs if it wins. View the full article
MAN PrimeServ – the after-sales brand of MAN Energy Solutions – will offer a retrofit package for the conversion of conventional MAN four-stroke engines already in the field to dual-fuel methanol operation. View the full article
Buoyed by high oil prices, the bosses of the biggest explorers this week laid out a vision for the energy transition that hinges on more fossil-fuel investment rather than less. View the full article
Following the dramatic recovery in U.S. steel production last year - a more than 18% year-on-year increase - the market is increasingly losing momentum. View the full article
Shape the future of energy at the 24th World Petroleum Congress 2023 Technical Conference. Abstracts will be considered if submitted before Thursday, July 7. View the full article
Chesapeake Energy Corp. said its assets in the Eagle Ford Shale have drawn a “tremendous amount of interest” as the U.S. company pursues a sale in order to become a pure-play natural gas producer. View the full article
Coordinated crude production reductions by the Organization of Petroleum Exporting Countries (OPEC) and its allies have led to a balanced global oil market, according to U.S. shale giant EOG Resources Inc. View the full article
The surprise move by OPEC+ to maintain oil supply restrictions through April, coupled with Saudi Arabia’s decision to extend voluntary curbs, has stunned the global energy market. Prices surged again on Friday, with West Texas Intermediate topping $65 a barrel, and Brent climbing above $68. View the full article
BJ Energy Solutions' first 40,000 Horsepower (HHP) TITAN fleet began a phased deployment in the Haynesville on Jan. 5, becoming fully operational by Jan. 31. View the full article
Amid the rusted remnants of Venezuela’s once-mighty oil industry, a motley crew of obscure drillers has achieved a feat few thought possible: It’s more than doubled the country’s crude production in the space of a year. View the full article
South Sudan is taking steps to take over the operations of international oil companies in the country to increase its share of revenue, even as production declines, according to a government official. View the full article
The depreciation and uplift rules in the special tax for petroleum will be replaced by immediate expense recognition of investments, or cash flow tax, from 2022, Finance Minister Jan Tore Sanner told reporters in a snap press conference in Oslo. View the full article
Shell Plc is in talks to sell its fuel stations in Russia as it withdraws from the country in response to the invasion of Ukraine. 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.