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The UK must launch a national effort to cut energy demand, promoting measures like home insulation, heat pumps and hydrogen, alongside maintaining its own oil and gas resources, Offshore Energies UK’s acting chief executive has said in a speech today. View the full article
The project will consist of two natural gas liquefaction trains with a total LNG production capacity of 9.6 MMtpa. The plant will use electric-driven motors instead of conventional gas turbines and will be powered by clean energy. View the full article
The Crown Prince of Abu Dhabi has endorsed his state-owned energy company, Abu Dhabi National Oil Company (ADNOC), endorsed the company's innovative Artificial Intelligence and Digital Technology (AIDT) strategy, ENERGYai. View the full article
(WO) — Matador Resources Co. plans to produce more oil in 2024 than previously planned, a signal that wells in the western part of the Permian basin — the busiest U.S. oil field — continue to lead national oil growth. View the full article
The OPEC cartel – which has struggled for many months to revive oil supplies halted during the pandemic – effectively failed to increase output at all in April as members remained plagued by capacity constraints. View the full article
New British Prime Minister Liz Truss removed a ban on drilling for shale gas, an effort to boost domestic energy supply that will have to overcome the same obstacles that stymied the industry for the past decade. View the full article
The new company will combine ACC’s amine-based Advanced Carbon Capture technologies, including Just Catch and Big Catch modular plant technologies for medium- and large-scale facilities, and Just Catch Offshore for offshore gas turbines, with SLB’s portfolio of technology solutions, including non-aqueous solvent and emerging sorbent-based offerings. View the full article
To stop global temperatures from rising above 1.5 degree Celsius from pre-industrial levels, carbon prices must surge to $160 per ton of CO2 by 2030, up from a global average of $22 at the end of last year, Wood Mackenzie said in a report. View the full article
Oil rallied as supply concerns took center stage with the EU threatening to ban Russian supplies this year and U.S. regional fuel inventories dropping to record lows. View the full article
Urgent moves to bring forward the construction of “energy islands” – giant new offshore renewable energy conversion and transmission plants – are being supported by a major new safety advisory and assurance study. View the full article
Petrodec, a decommissioning services specialist, has commenced on the decommissioning of the Amethyst A2D platform in the Amethyst gas field in the UK Southern North Sea. View the full article
The cost to drill and frac new wells in U.S. shale basins is expected to drop about 10% this year as explorers look to get more for less amid record output, according to a report from Wood Mackenzie. View the full article
by extending safe operating windows, Akselos can help operators avoid over $100 million in lost production by potentially avoiding unnecessary dry dock. The software also allows FPSO operators to extend the operational life of assets by removing unwanted and overly conservative fatigue estimates, powered by the Akselos RB-FEA technology. View the full article
Gas flaring satellite data from 2020 reveals that Russia, Iraq, Iran, the United States, Algeria, Venezuela and Nigeria remain the top seven gas flaring countries for nine years running, since the first satellite was launched in 2012. View the full article
Oil retreated after hitting $75 a barrel in London for the first time in more than two years, as Russia and other OPEC+ nations were said to consider increasing production. View the full article
Recoverable volumes from Troll phase 3, which will produce the Troll West gas cap, are estimated at as much as 347 billion cubic meters of gas. Converted into oil equivalent this amounts to 2.2 billion barrels. View the full article
In the debate over why U.S. oil producers haven’t added additional supply, the boss of ConocoPhillips lays the blame squarely with the government. View the full article
Concerned about the growing safety risk posed by corrosion and other structural integrity issues associated with the global floating production fleet, American Bureau of Shipping pulled together an industry working group 18 months ago. View the full article
Donald Trump told Senate Republicans Thursday he would restart oil drilling in Alaska’s Arctic National Wildlife Refuge, reversing a move by the Biden administration to cancel leases in the frozen wilderness. View the full article
Schlumberger’s decarbonization plan leverages technology to address operational emissions, customer emissions, and carbon-negative actions. View the full article
Clariant’s Oil and Mining Services business has officially opened its new, state-of-the-art Eagle Ford Technology, Sales and Operations Center near San Antonio, TX. View the full article
It may have taken an investor rebellion, a pandemic and a war in Europe, but U.S. shale oil and gas producers are now on the cusp of making back their losses from the last decade. View the full article
West Texas Intermediate crude futures dropped as much as 10%, the most since March 9, while oil headed for its worst trading day in almost three months as recession fears iced markets, outweighing a fundamentally tight supply market. View the full article
Repair work to a vital Nigerian oil terminal is expected to be completed in late September, meaning almost two months of halted flows. View the full article
Subsea7 has been awarded an engineering, procurement, construction, and installation contract by bp for the Murlach development, formerly known as the Skua field, located 149 miles east of Aberdeen in the UK North Sea. 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.
