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Magma Global announced delivery of the world’s first high-pressure composite riser pipe to HWCG’s storage location on the U.S Gulf Coast, completing its rapidly deployable Offset Flexible Riser (OFR) system. View the full article
Oil fluctuated as Saudi Arabia and the United Arab Emirates were said to resolve the standoff that has prevented OPEC+ from satisfying a growing clamor for extra barrels. View the full article
China’s first auction of oil from its strategic reserves looks relatively paltry, but the possibility of further releases is still likely to exert a powerful influence on global crude prices. View the full article
The Biden administration is launching an assault on methane Tuesday, advancing initiatives across government - and the globe - to keep the potent, heat-trapping gas from escaping landfills, oil wells and farms. View the full article
Exxon Mobil Corp. is working to extinguish a fire at its Baytown facility in Texas, the fourth-largest refinery in the U.S. View the full article
Schlumberger announced an award to OneSubsea and its alliance partner, Subsea 7, by Kosmos Energy Gulf of Mexico Operations, for an engineering, procurement, construction and installation contract for the Odd Job field in the Gulf of Mexico. View the full article
Record exports of Norway’s Johan Sverdrup crude oil are set to help meet European refineries’ needs as a deadline to phase out Russian supplies draws closer. View the full article
CGX Energy Inc. and Frontera Energy Corporation, joint venture partners in the Petroleum Prospecting License for the Corentyne block offshore Guyana (the “License”), has submitted a Notice of Potential Commercial Interest for the Wei-1 discovery to the Government of Guyana, which preserves the Joint Venture’s interests in the License. View the full article
Anchor production marks the successful delivery of high-pressure technology that is rated to safely operate at up to 20,000 psi, with reservoir depths reaching 34,000 ft below sea level. View the full article
From operator reports, BSEE estimates that approximately 3.35% of the current oil production and 0.91% of the current natural gas production in the Gulf of Mexico is shut-in. View the full article
The sell-off will prove to be “transient” and this week’s decline presents a buying opportunity amid the large rally, Goldman Sachs Group analyst Damien Courvalin said in a note. There’ll still be a swift rebalancing of the market, with vaccinations driving an increase in mobility, he said. UBS Group AG also stuck with its positive outlook for Brent. View the full article
Schlumberger announced today the appointment of Dr. Katharina Beumelburg to the position of Chief Strategy and Sustainability Officer, Schlumberger Limited, reporting to Olivier Le Peuch, Chief Executive Officer. View the full article
The United Arab Emirates has resolved its standoff with OPEC+ and reached a compromise deal that will give it a new output quota, said a delegate. View the full article
Oil gained after a U.S. industry report showed another decline in inventories of crude and gasoline, signaling a tightening market. View the full article
As world leaders discuss the fight against climate change, global oil demand has bounced back above the key level of 100 million barrels a day last seen before the Covid-19 pandemic, according to BP Plc. View the full article
U.S. natural gas futures plunged to the lowest since July as the weather forecast for the new year shifted milder and record-high prices in Europe plunged. View the full article
Saudi Arabia’s foreign minister said there’s nothing more the kingdom can do to tame oil markets, implying that the world’s biggest crude exporter has no plan to accelerate its gradual production increases. View the full article
Saitec Offshore Technologies and RWE achieved another milestone in the DemoSATH project with the successful completion of the launching operation of the floating unit. View the full article
Skyrocketing oil prices have helped make oil and gas producers the best performers in the stock market this year, triggering a rapid rise in dividend payments and a bonanza of special dividends. View the full article
Baker Hughes launched three gas, flow and moisture measurement sensor technologies designed to improve safety performance and drive productivity in oil and gas, hydrogen and other applications across energy and industrial sectors. View the full article
Area 2 lies within the emerging South Africa and Namibia (SANAM) super-basin, which stretches from northernmost Namibia to the Durban basin of eastern South Africa. The Block shares the same prolific petroleum play as is currently being successfully explored in the Orange basin of Namibia, and further proven by the Brulpadda and Luiperd discoveries in South Africa’s Outeniqua basin. View the full article
The agreement marks the second time this year the FTC has barred a senior oil executive from joining a suitor company’s board. The agency reached a settlement with ExxonMobil in May that blocked Pioneer Natural Resources Founder Scott Sheffield from obtaining a directorship over similar accusations, bringing wide condemnation from the industry. View the full article
Siemens Energy was awarded a topside EPC contract by MISC Berhad for eight complete topside modules that will provide sustainable, efficient, and environmentally friendly power generation, transmission, and distribution, as well as gas processing and compression aboard an FPSO that will operate offshore South America starting in 2024. View the full article
DNV has launched a new collaborative research project to develop an automated data processing procedure for verification of detected wind turbine blade defects, with the aim of building trust and generating broader acceptance of automated data processing techniques across the industry and to inform future regulation. View the full article
While gasoline and diesel demand have returned to pre-pandemic levels, a surge in petroleum use for products such as plastic, asphalt, lubricants and other industrial needs is propelling the recovery. 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.
