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TotalEnergies plans to relinquish the license for Block 11B/12B because it doubts whether the complex deepwater finds can be made commercially viable, given South Africa’s small gas market. The company will concentrate instead on exploring the Orange basin, located further north on the Atlantic coast of South Africa near promising offshore oil discoveries in Namibian waters. View the full article
The American Petroleum Institute (API) released a new poll conducted by Morning Consult that reveals strong support among swing state voters for policies that promote domestic oil and natural gas production, while limiting reliance on foreign energy sources. View the full article
Two weeks ago, the world’s biggest crude exporter stunned energy traders by announcing that -- rather than restore halted production as planned -- it would slash supplies by a further 1 million barrels a day. On Tuesday, the International Energy Agency slashed forecasts for world oil demand in the first quarter as countries hunker down to contain new coronavirus outbreaks. View the full article
European and U.S. refiners that rely on the vital waterway for cargoes of Middle Eastern oil may be forced to look for replacement supplies should the blockage persist, while flows of crude from North Sea fields destined for Asia will be held up. View the full article
“Our goal is to have several vessels operating in Norway – both in the oil and gas industry and floating wind," said Duncan MacPherson, the new managing director in Norway for Maersk Supply Service. View the full article
BHP has long said the oil business was one of its strategic pillars, and argued that it will make money for at least another decade. But as the world tries to shift away from fossil fuels, the company wants to avoid getting stuck with assets that become more difficult to sell, according to insiders. View the full article
Oil resumed declines amid growing concerns over the health of China’s economy that have triggered massive losses in equities. View the full article
The White House and 49 senators support a proposal to impose an almost $20 per-ton fee on carbon as part of President Joe Biden’s climate-and-spending legislation, U.S. Senator Sheldon Whitehouse said Saturday. View the full article
The European Court of Human Rights is asking Norway to respond to charges by activists that allowing new oil and gas drilling in the Arctic during an environmental crisis may breach fundamental freedoms. View the full article
CSA Ocean Sciences Inc. announced the conclusion of an Environmental Assessment Program for a major offshore energy operator in Block 58, a 5,841 km2 area approximately 115 km (71 mi) offshore north Suriname in South America. View the full article
Libya’s crude exports climbed after a ban on production and shipments was lifted in mid-July, a trend that may help cool fears about the OPEC member’s ability to supply global markets. View the full article
U.S. President Joe Biden said he’s disappointed by the surprise OPEC+ decision to slash oil production but that he doesn’t regret a trip to Saudi Arabia just three months ago in which he urged its leaders to keep crude flowing. View the full article
Wood will deliver a comprehensive concept study for the Greater Sunrise Development, considering engineering, technology, financing, commercial structures, fiscal, environmental, health & safety and socioeconomic drivers including local content. View the full article
Kent and the Energy Institute have announced a collaboration to create comprehensive guidelines for the economics of decarbonization in greenhouse gas (GHG) emission reduction projects within the upstream oil and gas sector. View the full article
India's oil minister and the Organization of Petroleum Exporting Countries’ top official publicly jousted over the cartel’s policy shift at a conference hosted by the Atlantic Council on Tuesday. View the full article
Preliminary estimates place the size of the discovery in the Fram prospects between 12 and 19 million standard cubic meters of recoverable oil equivalent, corresponding to 75-120 million barrels of recoverable oil equivalent. View the full article
Iran said it will soon export oil from a new port that allows it to bypass the Strait of Hormuz, as nuclear talks between Tehran and other world powers show signs of progress. View the full article
Royal Dutch Shell said it will appeal a ruling by a Dutch court which ordered it to cut its carbon emissions by 45% over the next decade. View the full article
Shell Enterprises LLC, a subsidiary of Royal Dutch Shell plc, has reached an agreement for the sale of its Permian business to ConocoPhillips, a leading shale developer in the basin, for $9.5 billion in cash. View the full article
A potential release from the U.S. Strategic Petroleum Reserve intended to bring down gasoline prices may have little effect, oil market participants warn, even as the Biden administration floats the idea as a way to provide immediate relief at the pump. View the full article
China slashed its fuel export quota by more than half in the first batch of allocations for 2022, highlighting the nation’s strategy of progressively limiting overseas sales. View the full article
As he opened the COP26 climate talks in November, Boris Johnson warned “it’s one minute to midnight” in the race to slash planet-heating carbon emissions. His government has since announced £37 billion of funding focused squarely on subsidizing the consumption of energy -- much of it fossil fuels. View the full article
U.S. shale drillers are expected to post record second-quarter profits in coming days, reversing nearly a decade of debt-fueled losses. View the full article
The National Ocean Industries Association has named Vallourec as the winner of the inaugural NOIA Environmental, Social, & Governance Excellence Award. View the full article
Under the terms of contract, ABL can be called on to provide rig assurance, equipment focused inspections, drilling readiness peer reviews, client representation and technical risk assessments. 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.