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European gas futures continued their march upwards on Thursday, even after Russia pledged to deliver as much supply as the continent needs. View the full article
Turkey threatened to block any unauthorized search for gas and oil in its economic exclusive zone in the eastern Mediterranean after Cyprus awarded hydrocarbon exploration and drilling rights in its offshore block 5 to a venture of Exxon Mobil and Qatar Petroleum. View the full article
After driving up prices for everything from steel pipes to frac sand to labor, inflation has finally ensnared the centerpiece of oilfield equipment: the drilling rig. View the full article
Hydrogen has a crucial role in decarbonizing the world’s energy system, but uptake will be too slow. Governments need to make urgent, significant policy interventions, according to a new report by DNV. View the full article
The addition will mean Vista has two fracking crews and related equipment in operation. The company is aiming to raise production 55% to the equivalent of 85,000 bpd by the fourth quarter, and start production on 138 new oil wells by 2026 in an effort to reach 100,000 bpd. View the full article
The world’s biggest oilfield contractor joined rivals Halliburton and Baker Hughes this week in predicting expansion in overseas work and a more muted recovery in North America through the rest of 2021. Global oil demand should return to pre-pandemic levels by the end of next year, if not sooner, Schlumberger CEO Olivier Le Peuch told analysts on Friday. View the full article
A new supercycle in global oil prices could be triggered by a lack of new investments in exploration, Saudi Arabia’s energy minister said. View the full article
Russia’s crude oil exports in the first 28 days of April jumped more than 17%, with hikes recorded for flows via all key pipelines and ports even as the nation’s production declined. View the full article
Two production trains are increasing production already. They will be followed by the third train as early as the end of next week. Full production is expected in August, people said, asking not to be identified because the information was not made public. View the full article
Co-owners of the Terra Nova FPSO facility and associated Terra Nova Field have reached an agreement in principle to restructure the project ownership and provide short-term funding towards continuing the development of the Asset Life Extension Project, with the intent to move to a sanction decision this fall. View the full article
A South African court has ruled that Royal Dutch Shell Plc can proceed with a seismic survey offshore the East Coast, after dismissing a legal application by activist groups. View the full article
Exxon Mobil Corp. and Chevron Corp. will together give more cash to shareholders than they invest in oil and gas production this year even as political leaders call on the industry to increase output to help ease soaring consumer prices. View the full article
The Neptune-operated Dugong discovery, in Production License 882, was one of the largest discoveries on the Norwegian Continental Shelf in 2020. Neptune estimates recoverable resources to be between 40 - 120 million barrels of oil equivalent (boe). View the full article
Nigerian President Muhammadu Buhari reversed a government decision to revoke four oil permits from a unit of China’s Sinopec. View the full article
The aim of the collaboration is to explore safe implementation of potential new technologies, working jointly with relevant governmental agencies to promote the introduction of hydrogen as an energy source in the Singapore market to support the country’s decarbonization goals. View the full article
Offshore Energies UK greeted the announcement of Liz Truss as the UK’s new Conservative Party leader as a fresh chance to renew the nation’s approach to energy security and accelerate the transition to cleaner energies with careful long-term investment in its home-grown oil and gas resources. View the full article
ADNOC made the final investment decision to build the LNG plant in the industrial city of Ruwais, according to a statement. The project will add 9.6 million tons of annual gas export capacity and more than double ADNOC's production capability. View the full article
The establishment of transparent and stable regulatory frameworks is crucial for attracting upstream investors, who are more likely to commit capital when they have clarity on the legal and regulatory environment, according to the African Energy Chamber. View the full article
Oil producers in the Permian Basin must do more to disclose and stop the leak of methane, a powerful greenhouse gas, a House committee wrote in a letter to 10 major oil companies. View the full article
European Union energy ministers tried to project a united front Monday in rejecting Russia’s demands to buy gas in rubles as the bloc tries to prevent Vladimir Putin from sowing divisions in the bloc. View the full article
Canada’s economic expansion suffered a minor setback last month after a robust start to the year, driven by a drop in oil production. View the full article
Texas Comptroller Glenn Hegar announced the Fiscal Year 2022 state revenues highlighting that the oil and gas industry paid record-breaking taxes to the state. View the full article
The group led by Saudi Arabia and Russia delayed easing supply curbs last week, but now needs to pick which way it wants to go ahead of next year, given outlook for balances was “not great”, said Ben Luckock, global head of oil at Trafigura. View the full article
(WO) — Enovate AI has partnered with Blu Clarity to deliver AI-powered real-time data analytics that will enhance efficiency, reduce costs, promote sustainability and ultimately revolutionize upstream oil and gas operations. View the full article
New wells at Valemon will extend profitable operations at Heimdal, which is processing gas from Valemon. The Heimdal partners have now decided to extend operations at Heimdal to 2023. 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.
