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More than 50% of oil executives told the Dallas Fed they foresee lower domestic crude production if the consolidation trend continues for five years, according to second-quarter survey results released Wednesday. View the full article
The UK government’s newly announced proposal to grant carbon dioxide transport and storage licenses to Liverpool Bay CCS Limited (Hynet) and Net Zero North Sea Storage Limited - the East Coast Cluster round Humberside and Teesside as been welcomed by the country’s largest offshore trade group. View the full article
Inclusion in MSCI indexes provides greater visibility among global investors and increases the credibility of the stock in financial markets. Inclusion of the ADNOC Drilling stock is expected to boost liquidity, given the expected passive inflows as well as potential appetite from active institutional investors tracking MSCI indexes. View the full article
U.S. Energy Development Corporation (U.S. Energy) is expanding its operations in the prolific Permian basin. U.S. Energy is poised for significant growth and development in one of the most productive oil and gas regions in the United States. View the full article
Germany will scrutinize an application to drill for natural gas at a protected marine site after explorer One-Dyas BV cleared a key hurdle with local authorities. View the full article
Williston operators have executed about 15% more refracs than those in the Eagle Ford. While results vary, EIR finds that average refracs in the Williston produce about 50% of new drill estimated ultimate recovery (EUR), outperforming the Eagle Ford’s roughly 25%. View the full article
Major oil field service companies are pivoting to more work in international and offshore fields amid a slowdown in U.S. shale activity brought on by industry consolidation, low natural gas prices and pressure to keep spending muted and return profits to shareholders. View the full article
The properties are located in the Central Basin Platform, Texas and New Mexico Shelf, and Northwest Shelf, and currently represent estimated net production of 21,000 boed, of which approximately 57% is oil. View the full article
Drones are particularly valuable for inspecting production facilities, offshore oil rigs, wind turbines, and pipelines, providing comprehensive and timely assessments while keeping personnel out of hazardous environments and underscoring the transformative impact of UAVs on maintenance and monitoring practices across the energy sector. View the full article
Under the multi-year services frame agreement, Baker Hughes will provide spare parts and field service resources for onsite turbomachinery equipment maintenance and upgrades, equipment refurbishment and advanced digital asset performance services. View the full article
Georgetown aims to acquire, process, and interpret high-quality 3D seismic data to aid in the exploration and development of oil and gas resources in the Guyana-Suriname basin. This data will also be used for future bidding and licensing rounds. View the full article
The well was tested to produce over 6,290 boed, the first well of such productivity in Wushi Sag. The discovery is expected to become a medium-sized oilfield. The total proved oil in-place of Wushi oil fields has exceeded 629 MMboe. View the full article
The groups argue that this ruling threatens U.S. energy security, potentially disrupting a crucial source of oil and natural gas. They warn it could lead to job losses, reduced state and local revenues, and negatively impact energy affordability amid ongoing inflation and geopolitical tensions. View the full article
Eni CEO Claudio Descalzi and SOCAR (State Oil Company of Azerbaijan Republic) CEO Rovshan Najaf signed a Memorandum of Undestanding (MoU) in Baku to evaluate potential cooperation opportunities in the areas of oil and gas exploration and production, energy security and efficiency, GHG emissions reduction, gas transportation infrastructures and sustainability. View the full article
The NO5-A project involves the creation of an offshore platform comprising a topside and a six-legged non-battered jacket. Upon completion, the NO5-A Platform will be the first electrified gas production platform in the North Sea, powered entirely by offshore renewable energy from the nearby Riffgat offshore wind farm. View the full article
The aim of the agreement is to set out the next steps for implementing a gas to industry business through, on one side, commercialization of domestic gas and, on the other, the creation of a midstream compressed natural gas (“CNG”) partnership to supply Morocco’s growing industrial energy needs. View the full article
As Australia shifts towards renewable energy, optimizing existing gas production fields remains crucial to meeting rising global energy demands. View the full article
Advances in the development and miniaturization of wearable biosensor technologies have introduced new possibilities for individualized heat stress management in the oil and gas industry. View the full article
The 225,000 bpd Almirante Tamandare production vessel is on route and set to arrive in Brazil this year, and a similar unit is near completion at a Chinese shipyard and will arrive in 2025. SBM is also waiting for Petrobras to re-launch a tender for two FPSOs for an offshore project in the Sergipe-Alagoas basin. View the full article
Shell is the last of the European majors to report their results and, like its peers, the company’s profits were underpinned by crude prices that averaged about $85 a barrel during the second quarter. These strong upstream earnings helped to offset weakness elsewhere, notably in refining and natural gas trading. View the full article
Despite Aramco’s profit falling in the second quarter due to OPEC+ constraints on the company’s output, Nasser painted a picture of healthy and growing demand. Oil use is set to rise by 1.6 MMbpd to 2 MMbpd this year. That will continue into 2025 when Nasser sees global oil consumption “north of 106 MMbpd.” View the full article
Barclays CEO CS Venkatakrishnan joins a growing chorus of Wall Street CEOs from Citigroup Inc.’s Jane Fraser to JPMorgan Chase & Co.’s Jamie Dimon and Goldman Sachs Group Inc.’s David Solomon, who have all cautioned that a complete withdrawal from oil and gas comes with unacceptable energy security risks. View the full article
RoboWell uses cloud-based AI algorithms to autonomously operate wells that self-adjust according to changing conditions. This enhances the safe operation of the well, improves efficiency, reduces the need for travel and physical interventions, and so minimizes emissions. View the full article
NFE’s proprietary Fast LNG design is the first of its kind, pairing the latest advancements in modular liquefaction technology with jack up rigs or similar offshore infrastructure to enable a faster deployment schedule than traditional liquefaction facilities. View the full article
TDI-Brooks has successfully completed a geotechnical coring project for Geohidra in the Southern Gulf of Mexico. The operation, conducted aboard the MV Laguna Azule, involved thirty-two cone penetration tests using the Neptune 3000 system. 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.
