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Saudi Arabia is expected to put less money into the oil industry than initially predicted in its goal to invest $1 trillion in strategic sectors by the end of the decade. View the full article
Turkey, seeking to extend its influence in Africa and strengthen energy security, will send the 86 m long research vessel Oruc Reis to explore offshore oil and gas blocks belonging to Somalia next month. View the full article
Crude production grew to 1.41 MMbpd in the second quarter, compared with 1.22 MMbpd a year earlier. Daily oil production in Nigeria is expected to rise to about 2 MMbpd by the end of this year, Oritsemeyiwa Eyesan, executive vice president of the Nigerian National Petroleum Corp.’s upstream division, said last week. View the full article
Woodside is targeting a final investment decision for the first phase of the Driftwood project from the first quarter of 2025. If all four phases are completed, the Louisiana facility would be able to export 27.6 million tons a year — almost triple Woodside’s current capacity and nearly 6% of the global total at the end of last year. View the full article
Kent will support the portfolio with their highly experienced CSU workforce while implementing its best-in-class commissioning processes, systems, and tools throughout the program of works, including its custom-built Commissionability (TM) software. View the full article
This SURF EPCI contract includes a substantial fabrication scope and offshore work over three years, with the first campaign beginning in 2025. Ocean Installer has also secured a separate contract for replacing a 4 km, 10” flexible flowline at the Troll B field in 2025. View the full article
In a lawsuit filed Monday in New York state court, Martin Siegel says the Conoco deal could deprive Marathon investors of more than $6 billion in value. He further alleges Marathon, its directors and financial adviser Morgan Stanley, misrepresented the deal in a proxy statement recommending shareholders back it. View the full article
India’s Swan Energy Ltd. plans to sell its stake in a floating liquefied natural gas (LNG) terminal to Turkey’s state-run Botas for $399 million. View the full article
It is important for oil and gas companies to have adaptable, low maintenance corrosion solutions to preserve topside and subsea infrastructure in case of delayed commissioning from unexpected market drops. 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
The changes come almost two weeks after the Malaysian conglomerate announced it would leave South Sudan after 14 years. UK-based oil and gas company Savannah Energy Plc has been in talks to purchase that business. View the full article
After pumping less crude in the years leading up to the pandemic than top counties in neighboring Texas, New Mexico’s Lea County has been rapidly gaining ground. Production there has expanded faster than in any other U.S. county, last year becoming the first to ever produce more than 1 MMbpd, according to energy research firm Enverus. View the full article
Transocean announced that Reliance Industries Limited awarded a binding Letter of Award for the Dhirubhai Deepwater KG1 for six wells offshore India. The estimated 300-day program is expected to commence in the second quarter of 2026. View the full article
A fight over Gulf of Mexico oil production is looming in Washington as U.S. regulators race to redo guidance on how to protect endangered species ahead of a deadline that could ultimately threaten about 15% of the nation’s crude output. View the full article
Autry Stephens, the petroleum engineer raised on a Texas peanut and watermelon farm who became the richest U.S. oilman, has died. He was 86. View the full article
Shale producers are pumping more oil per dollar invested in oil fields by drilling wells with fewer rigs and using better fracing techniques, BloombergNEF said in a report published Thursday. The U.S. will increase production 4.5% to a record 13.9 MMbpd next year. View the full article
The hedge fund veteran and founder of Hayman Capital Management says the backlash that’s been building against environmental, social and governance (ESG) investing in recent years is largely due to climate activists’ demands that oil and gas be abandoned here and now. As a proposition, that was never tenable or even responsible, he says. View the full article
The plant, located in offshore Akwa Ibom state in the oil-rich Niger Delta, is expected to be commissioned in 2028, with first gas a year later. It will produce LNG, petroleum gas and condensate. View the full article
The first MoU focused on the expansion of Eni and SOCAR’s cooperation on oil and gas exploration and production, with the aim of strengthening the energy security of Europe, and Italy in particular. A second MoU envisages the cooperation of Eni and SOCAR to reduce greenhouse gas emissions and improve energy efficiency in the upstream sector. View the full article
McDermott will design, procure, fabricate, hook up and commission a platform and jacket. The company will also provide design, installation, and commissioning services for a 32-inch gas pipeline that will connect the platform to a gas processing facility operated by Shell. View the full article
This move is part of bp’s broader strategy to cut emissions and enhance efficiency through advanced infrastructure, including the development of centralized processing facilities and innovative drilling technologies. View the full article
The four new contracts encompass four heavy-size helicopters Sikorsky S-92A to support Petrobras in the pre-salt Santos basin. CHC will provide crew change flights to over 60 offshore units operated by Petrobras and its partners from Jacarepaguá and Maricá airports, located at Rio de Janeiro estate, Brazil. View the full article
Personnel have been evacuated from a total of 171 production platforms, 46% of the 371 manned platforms in the Gulf of Mexico. Evacuations have also commenced from three non-dynamically positioned rigs, equivalent to 60% of the five rigs of this type currently operating in the Gulf. A total of four DP rigs have moved off location out of the storm’s path as a precaution. This number represents 20% of the 20 DP rigs currently operating in the Gulf. View the full article
Petrobras achieved the main target of the Uchuva-2 well, confirming the extent of the natural gas discovery made in 2022 while drilling of the Uchuva-1 well. This well adds relevant information for the development of a new frontier of exploration and production in Colombia, reinforcing the volumetric potential for natural gas in the region. View the full article
U.S. presidential candidate Kamala Harris faces a problem in Washington County, Pennsylvania, where gas drilling rigs and well pads dot the rolling green farmland. 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.
