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Oil majors that want to reduce their carbon footprint will have to shift their activities to energy basins where drilling rigs can be powered by renewables and which have ample space for carbon sequestration, a report indicates. View the full article
Long recognized as a pillar of U.S. energy production, deepwater Gulf of Mexico could help provide the resources the world needs during the energy transition. Restricting supplies of fossil fuels may seem like an answer. But society needs affordable energy sources until the net-zero goal is met. View the full article
Enverus has released its annual list of the 100 most prolific private oil and gas producers in the U.S. based on gross operated production, well count and rig movements across last year. Continental Resources and Ascent Resources remain in the top two positions on the list, with Aethon Energy moving up to the third position, according to Enverus. View the full article
Halliburton will provide a wide range of services to include fluids, completion equipment, wireline, slickline, flowback services, and coiled tubing, integrating and coordinating these services through Halliburton’s project management service line to ensure efficient and effective execution. View the full article
Tenaris is expanding its Rig Direct® service package with the introduction of WISer™, a suite of digital solutions designed to enhance well integrity, safety, efficiency and reliability in well construction operations. View the full article
Abu Dhabi National Energy Co. is considering options for its oil and gas assets, including a potential sale, as the state-owned utility focuses more on power generation, people familiar with the matter said. View the full article
Led by $2.59 billion asset transaction with BP Exploration (Epsilon), Middle East and Africa’s oil and gas industry saw a drop of 32.92% in deal activity during Q1 2021, when compared to the last four-quarter average, according to GlobalData’s deals database. View the full article
Australia will challenge a court ruling that orders the government to consider climate change impacts from a planned coal mine expansion, a decision seen as clouding the prospects for any new fossil fuels projects. View the full article
West Virginia Senator Joe Manchin stands alone among his fellow Democrats, recognizing the long-term economic damage Biden's $3.5T liberal wish list would inflict on America’s ability to meet its own energy needs, and compete in the global economic arena. View the full article
Exxon Mobil Corp. and Chevron Corp. are plowing windfall profits into share buybacks as soaring energy prices boost their cash flow. View the full article
The UK proposed a series of climate change tests to determine whether new oil and gas fields can be built off its shores, but said its net-zero pledge doesn’t require the industry to be shut down. View the full article
As Texas officials hunt for financial firms hostile to the energy industry, Wall Street is rolling out its fossil fuel bona fides to convince officials not to bar them from doing business with the state. View the full article
The Biden administration’s plan to crack down on smog in the oil-rich Permian Basin threatens to curb crude production while gasoline prices are near record highs and energy scarcity grips the globe, the industry warned Thursday. View the full article
The interest and investment in the hydrogen sector shows there is real progress being made in renewables, and that despite current market challenges, hydrogen will play a major role in global energy in the near future. View the full article
Barclays CEO CS Venkatakrishnan joins a growing chorus of Wall Street CEOs from Citigroup Inc.’s Jane Fraser to JPMorgan Chase & Co.’s Jamie Dimon and Goldman Sachs Group Inc.’s David Solomon, who have all cautioned that a complete withdrawal from oil and gas comes with unacceptable energy security risks. View the full article
Recently, Talos agreed to acquire a 21.4% W.I. in Monument, a large Wilcox oil and gas discovery located in Walker Ridge blocks 271, 272, 315, and 316, for $32 million. Monument will be developed as a subsea tie-back to the Shenandoah production facility in Walker Ridge. The Monument discovery is post-FID with appraised proved plus probable gross reserves of approximately 115 MMboe. View the full article
A UK-based operator has awarded ocean services provider DeepOcean a long-term frame agreement for provision of diverless subsea inspection, maintenance and repair (IMR) services on the UK Continental Shelf (UKCS). Two call-offs have now been executed for offshore work in 2024. View the full article
Nighthawk Completion Services has received a majority investment and growth equity commitment from an investor group led by Bruce Ross, including Backcast Partners and certain energy service executives. View the full article
Refineries in Michigan, Ohio, Indiana, Pennsylvania as well as those in Ontario and Quebec would have to find alternative means for securing crude oil should Line 5 be shut, requiring the building of new rail terminals and rail cars, Vern Yu, Enbridge's president of liquid pipelines, told Canadian lawmakers Tuesday. View the full article
Motorists across a broad swath of the U.S. East Coast and South are struggling to find gasoline and diesel as filling stations run dry amid the unprecedented pipeline disruption caused by a criminal hack. View the full article
The Biden administration is preparing to release a blueprint for limiting sales of U.S. drilling rights as rising oil and gasoline prices highlight the risks of curtailing domestic crude production. View the full article
Angola, which relies on oil for more than 90% of its exports, has been struggling to recover from the 2014-2016 collapse in prices. It has also not been able to boost investments, needed to increase production from its aging fields. View the full article
The U.S. is talking to other energy-consuming nations about how to press OPEC+ to boost output to address the current supply crunch, a senior U.S. official told reporters in Rome. View the full article
TotalEnergies has signed with the Ministry of Energy and Minerals of the Sultanate of Oman a series of agreements for the sustainable development of the country’s natural gas resources. View the full article
Former German Chancellor Gerhard Schroeder is quitting his post as chairman of Russian state-owned oil company Rosneft PJSC after widespread calls for him to cut ties to Russian President Vladimir Putin over the invasion of Ukraine. 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.
