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As global natural gas markets continue to tighten and Europe braces for a challenging winter, the American Petroleum Institute and the International Association of Oil and Gas Producers released a new analysis of Europe’s natural gas market and highlighted the immense potential of U.S. LNG to help Europe strengthen its energy security. View the full article
The agreement’s scope is to deliver human resources solutions for Repsol’s multi-disciplinary resourcing needs in areas such as drilling and wells, geology and subsurface, HSE, logistics, operations, maintenance, decommissioning, administrative support and cost control. View the full article
Honeywell’s Emissions Management Suite is now Hazardous Location (HazLoc) and marine certified, making it one of the industry’s first end-to-end solutions for offshore oil and gas assets to measure, monitor, report and reduce emissions. View the full article
The plant design will feature electric-driven LNG trains instead of gas turbines, reducing greenhouse gases emissions compared to conventional LNG projects. It will also include prefabricated and standardized modules to be assembled at the project site in Mozambique, offering cost competitiveness and certainty in delivery schedule. View the full article
Angola is a strong destination for oil and gas exploration, said Angola’s Minister of Mineral Resources, Petroleum and Gas, Diamantino Pedro Azevedo. Recent regulatory reforms have positioned the country as a highly competitive market for foreign investment. View the full article
The Industrial Decarbonization Strategy, published March 17, is part of the UK’s ambition to effectively eliminate greenhouse gas emissions by 2050. View the full article
Petrofac secured a contract with bp to develop operational procedures for their Greater Tortue
Ahmeyim (GTA) Project in Mauritania and Senegal. View the full article
Oil rebounded after a U.S. government report showed rapidly declining inventories and record-high fuel demand in the midst of the peak summer travel season. View the full article
Abu Dhabi National Oil Co. is seeking to raise about $750 million from its drilling unit’s IPO, in what would rank among one of the largest share sales in the United Arab Emirates. View the full article
As U.S. House Democrats inch closer to striking a deal on a massive Budget Reconciliation package with their counterparts in the Senate, it is important to note the potential implications for jobs in the upstream sector of the U.S. oil and gas industry. View the full article
ADNOC Drilling Company and Helmerich and Payne, Inc. jointly announced the finalization of the Rig Enablement Framework Agreement, streamlining ADNOC Drilling’s operations, reducing costs and building shareholder value. View the full article
Woodside Petroleum Ltd. almost certainly won investor approval to boost global oil and gas production by adding BHP Group assets while also facing a rebuke on its climate accounting. View the full article
NOIA President Erik Milito said restoring U.S. energy security must include the resumption of domestic offshore oil and gas leasing, which did not happen with Biden’s Wednesday announcement of Executive Actions on Climate to Address Extreme Heat and Boost Offshore Wind. View the full article
While U.S. gasoline prices have come down from the highs seen this summer, they’re clearly still weighing on President Joe Biden, who repeated demands for oil companies to charge less. View the full article
Exxon filed an environmental authorization application with the government Monday for an investment that’s expected to boost the country’s overall production capacity to nearly 1.5 MMbpd, about the same as OPEC member Nigeria. View the full article
The new build FSO, based on a Suezmax-type hull, will be equipped with a Disconnectable Turret Mooring (“DTM”) system designed by SBM Offshore. The FSO will be moored in water depth of about 2,500 m and will be able to store around 950,000 bbl of crude oil. View the full article
World oil consumption is set to increase by 17.9 MMbpd, or roughly 18%, to 120.1 MMbpd by 2050, the Organization of Petroleum Exporting Countries said in its annual long-term outlook. It raised estimates covering the next two decades from last year’s report. View the full article
ADNOC has awarded an EPC contract to Jereh Oil & Gas Engineering Corporation, worth up to $920 million (AED3.38 billion), to install remote sensing and well-operating equipment at its onshore Bab, Bu Hasa and Southeast fields, extending its AI-powered well digitalization program to cover the fields. View the full article
Early bird registration for the 23rd World Petroleum Congress is now open and available through April 30th. Delegates who take advantage of registering early for the Congress, to be held in Houston, U.S.A. from December 5-9, 2021, will receive a discount of over one third on the onsite price. View the full article
The Mineral Resources Professional Council (MRPC) concluded that it supports and will approve Petro Matad’s Plan of Development for the Block XX Exploitation License once certain technical clarifications have been provided. View the full article
The scope covers a complete subsea production system including four horizontal subsea trees, three manifolds, control systems, three static subsea umbilicals, as well as associated tie-in equipment and installation work. View the full article
The latest data from the group indicate that the world will continue to face an oil supply deficit in the coming months even as its members revive idle production. View the full article
OPEC+ technical experts downgraded their expectations for how tight global oil markets will be this quarter, a week before ministers meet to decide production policy. View the full article
Wood has further strengthened its position as the leading partner for operations solutions in the UK North Sea following a series of contract awards with key clients in the fourth quarter of 2021, including Shell UK and Dana Petroleum. View the full article
Leslie Beyer, CEO, Energy Workforce & Technology Council commented on the DOI offshore lease plans and FERC’s approval of natural gas projects. 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.
