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“When you consider the 20-gigawatt target we’ve laid out until 2025, it’s a significant move forward,” Dev Sanyal, BP’s head of gas and low-carbon energy, said in an interview. View the full article
A robust recovery in the U.S. and Europe has given OPEC+ the confidence that markets can absorb additional barrels, despite the prospect of more supply from Iran should a nuclear deal be revived, and a Covid-19 comeback in Asia, most notably India. View the full article
A bleak assessment of Iran’s nuclear transparency cast a pall over months of arduous diplomacy aimed at restoring its atomic accord with world powers that has major implications for Middle Eastern security, global business and oil markets. View the full article
Exxon Mobil is pulling out of a deep-water oil prospect in Ghana just two years after the west African nation ratified an exploration and production agreement with the U.S. oil titan. View the full article
The coalition led by Saudi Arabia and Russia believes that the glut created during the pandemic has nearly gone, and that oil stockpiles will diminish rapidly in the second half of the year as lockdowns ease and travel gathers pace. View the full article
The global natural gas industry is in an existential race: either find a way to be part of the next generation of energy or risk getting supplanted by alternatives. View the full article
Futures in New York climbed past $67 a barrel, putting crude on track for a second straight monthly gain. OPEC and its allies are expected to stick with a decision to boost output in July when the group gathers Tuesday. View the full article
Iran’s oil minister said the country can increase its crude production rapidly, as world powers enter the final stages of negotiations to revive a 2015 nuclear accord with the Islamic Republic. View the full article
Iran started its first transfer of crude oil via its strategic Goreh-Jask pipeline, allowing the country to bypass the Strait of Hormuz, the state-run Islamic Republic News Agency reported. View the full article
U.S. Secretary of Energy Jennifer Granholm said the Biden administration would rather promote and sell a cleaner version of the fuel. The statement marks a policy shift from the Trump administration, which rolled back environmental regulations and heavily promoted U.S. LNG around the world. View the full article
For the first time in decades, oil companies aren’t rushing to increase production to chase rising oil prices as Brent crude approaches $70. Even in the Permian, the prolific shale basin at the center of the U.S. energy boom, drillers are resisting their traditional boom-and-bust cycle of spending. View the full article
The Pew Research Center released a new poll which found that nearly two-thirds of the U.S. public opposes phasing out fossil fuels as a means of addressing climate change. View the full article
Modern smart marine electric and power systems, such as Wärtsilä HY are supporting decarbonization through the increasing use of electrical solutions, renewable energy and the evolution of propulsion design to create greater flexibility and efficiency. View the full article
This new name and new visual identity embody the course TotalEnergies has charted for itself: that of a broadly-focused energy company committed to producing and providing energies that are ever more affordable, reliable and clean. View the full article
During a recent call with investors, Suncor Energy CEO Mark Little commented on the future of the Terra Nova FPSO and efforts to confirm the Asset Life Extension project of the vessel. View the full article
Pipeline operators who fail to report cybersecurity attacks to the Department of Homeland Security could face fines of $7,000 a day or more under regulations being released Thursday in response to the ransomware attack that temporarily paralyzed the nation’s biggest fuel pipeline. View the full article
In the past, environmental activist investors were limited to the odd shareholder proposal, inevitably rebuffed by the boards and management teams. On Wednesday by contrast, shareholders ousted two Exxon Mobil directors seen as insufficiently attuned to the threat of climate change, while Chevron shareholders voted for a proposal to compel the company to reduce pollution by its customers. View the full article
Maersk Drilling has entered into an agreement to divest the combined drilling and production unit Mærsk Inspirer to Havila Sirius for a price of $373 million. View the full article
The divestment is part of Shell’s strategy to reduce its global refinery footprint to core sites integrated with the company’s trading hubs, chemicals plants and marketing businesses. View the full article
Suncor Energy aims to reduce emissions by 10 megatons by 2030, from about 29 megatons in 2019. Half of the target will be achieved at its oil sands plants, refineries and other facilities through using carbon capture technology, switching fuels for operations and increasing energy efficiency. View the full article
Chevron shareholders voted for a proposal to reduce emissions from the company’s customers, the latest sign that oil titans are coming under increasing pressure to address environmental concerns. View the full article
Exxon Mobil's CEO Darren Woods was dealt a stunning defeat by shareholders when a tiny activist investment firm snagged at least two board seats and promised to push the energy giant to diversify beyond oil and fight climate change. View the full article
The U.S. oil market is showing clear signs of tightening on the back of strengthening demand, raising a question about whether the nation’s booming crude exports could slow. View the full article
The Justice Department is defending the Trump administration’s approval of a massive ConocoPhillips Alaska Inc. project in federal court, over the objections of environmentalists who say the government didn’t adequately consider the venture’s effect on polar bears and the climate. View the full article
Gasoline demand in the world’s largest economy is heading into one of its traditional peak seasons with some of the lowest stockpiles in almost three decades. 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.
