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The resolution ends a long-standing conflict between Pemex and Houston-based Talos over the field, which contains as many as one billion barrels of oil equivalent. View the full article
Saudi Aramco is considering a bold move to open up one of the world’s largest unconventional gas fields to foreign investors, as it looks to fund a $110 billion project to help it diversify from oil sales, people familiar with the matter said. View the full article
U.S. refiner Phillips 66 agreed to buy the rest of its pipeline affiliate that it doesn’t already own in an all-stock-deal valued at about $3.4 billion, the latest effort to streamline midstream operations. View the full article
Global demand for oil products has seen strong recovery this year, however, depressed kerosene demand from the aviation sector is a major barrier to full recovery, says GlobalData, a leading data and analytics company. View the full article
Expensive offshore exploration setbacks for international oil majors including Shell Plc and Exxon Mobil Corp. are throwing cold water on their plans to turn Brazil into a profit center. View the full article
More U.S. shale producers should aim for net-zero emissions, while drillers that have already made climate pledges need to set more aggressive timelines to reach their goals, according to investor Kimmeridge Energy Management. View the full article
The future of carbon storage moved a step closer today with 26 bids coming in for the UK’s first-ever carbon storage licensing round. View the full article
ATP will pay 100% of the work program, which initially consists of drilling and completing the AND-4 and AND-5 wells in the Andorinha field and a workover in the CR-2 well located in the POT-T-281 block. 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
A Norwegian Offshore Directorate analysis of exploration activity from 2004-2023 shows that the discoveries are valued at three times the costs expended. 50 of 190 offshore discoveries have been developed and are producing, leaving three-quarters still to be developed. These investments will remain profitable as more fields come on stream. View the full article
Halliburton has announced the addition of SandTrap® XL to its sand consolidation portfolio. This latest innovation addresses the industry's challenge of excessive sand production with a low-viscosity resin system. Activated externally, it enables solids control over large intervals. View the full article
Asia’s emergence as global natural gas trading superpower will increasingly dictate market rates in Europe for a once-localized commodity that was simply linked to the price of oil. View the full article
The Offshore Technology Conference (OTC) has announced the 2021 recipients of the Spotlight on New Technology® Award, which recognizes new, innovative technologies that are advancing and revolutionizing the future of offshore energy. View the full article
The resolution ends a long-standing conflict between Pemex and Houston-based Talos over the field, which contains as many as one billion barrels of oil equivalent. View the full article
Mexico cut its forecast for oil production at Pemex next year and reduced its tax burden after a string of accidents at offshore platforms signaled the highly indebted state company is struggling. View the full article
Iran said it had agreed with the European Union to restart big-power talks to revive the 2015 nuclear deal before the end of November and a precise date for the negotiations would be announced in the next week. View the full article
Harold Hamm, who took Continental Resources Inc. public 14 years ago, says right now his closely held competitors can do what he simply can’t: increase oil production to meet rising demand. View the full article
The smallest oil producer in the Persian Gulf is turning to natural gas imports to meet rising energy demand as production from its own deposits slips. View the full article
Sembcorp Marine Ltd, through its wholly owned subsidiary, Sembcorp Marine Offshore Platforms Pte. Ltd., has entered into an Engineering, Procurement, Construction and Installation contract with a major energy company for a gas topsides project in Australia. View the full article
Baker Hughes, Mocean Energy and Verlume have signed a triparty memorandum of understanding to identify and discuss potential opportunities for collaboration on integrated wave energy and subsea energy storage solutions for the emerging subsea clean energy market. 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
Galp has agreed to purchase approximately 0.5 MMtpa of LNG for 20 years from Cheniere Marketing on a free-on-board basis for a purchase price indexed to the Henry Hub price, plus a fixed liquefaction fee. View the full article
On Sept. 19, the Board of Directors of ANCAP, the Uruguayan state-owned oil company with regulatory responsibility for offshore licenses, approved Challenger Energy’s farmout agreement for the AREA OFF-1 license with Chevron. The original deal was announced on March 6. View the full article
Shell Brasil announced the start of production of the Mero-3 FPSO facility in the Mero field, in the pre-salt area of the Santos Basin, offshore Brazil. The FPSO has an operational capacity of 180,000 bopd. View the full article
Billionaire investor Carl Icahn, the third-largest shareholder in Occidental Petroleum Corp., plans to cut his $2.71 billion stake by up to one-third while remaining on the oil company’s board. 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.
