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The supermajor is working on developing the deepwater Owo project, Nigerian Vice President Kashim Shettima said after meeting Exxon Nigeria chairman Shane Harris. The company also proposed to spend $2.5 billion annually to boost oil output by 50,000 bpd over the next few years, Shettima said. 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
Today, the Energy Workforce & Technology Council (EWTC) announced the release of the 2024 Workforce Report developed in collaboration with Accenture. The report provides a detailed analysis of the current state of employment within the energy services sector, focusing on job growth, workforce composition, and granular insights into diversity metrics. View the full article
The Scarborough Energy Project has all primary environmental approvals in place, and offshore work is progressing well. The Federal Court proceedings sought an injunction to stop offshore activities for the Scarborough Energy Project. The parties have agreed to seek orders from the Court to dismiss the proceedings. View the full article
OceanMight announced the sail-away of three topsides and three substructures for the MLNG FaS project. The development includes the F22,F27, and Selasih gas fields offshore Malaysia. View the full article
QB Energy is acquiring the producing upstream assets, gathering and compression midstream assets and all other assets owned by Caerus in the Piceance basin. Koda is taking a similar set of assets owned by Caerus in the Uinta basin. View the full article
Saja Energy has been named the official distributor of Neo Oiltools' neotork Vibration Management Tool in Saudi Arabia. This announcement follows Neo Oiltools’ recognition of Saja Energy, a Saudi Arabia-based provider of energy sector products and services. View the full article
Russia’s own data show its crude production in September fell just below its monthly target under the OPEC+ deal, according to people familiar with figures from the country’s Energy Ministry. View the full article
Hot weather has contributed to a wildfire outbreak in Western Canada, with 170 burning in Alberta alone — 53 of them out of control. The equivalent of about 388,000 bpd of oil production and 13,400 bpd of natural gas are within 10 km (6.2 miles) of blazes that are at least 10 hectares (25 acres) in size, according to Alberta Wildfire geographic data and Alberta Energy Regulator June production data. View the full article
Neo Oiltools, a creator of drilling performance tools for the oil and gas industry, announced today that Saja Energy, a Saudi Arabia-based provider of world-class energy sector products and services, is the official distributor of the neotork Vibration Management Tool in the Kingdom of Saudi Arabia. View the full article
OceanMight announced the sail-away of three topsides and three substructures for the MLNG FaS project. The development includes the F22,F27, and Selasih gas fields offshore Malaysia. View the full article
A Norwegian Offshore Directorate analysis of exploration activity from 2004-2023 shows that the discoveries are valued at three times the costs expended. 50 of 190 offshore discoveries have been developed and are producing, leaving three-quarters still to be developed. These investments will remain profitable as more fields come on stream. View the full article
The agreement builds on the work deployed across APA’s global portfolio over the past three years and introduces new artificial intelligence capabilities with Palantir’s Artificial Intelligence Platform (AIP) software. View the full article
1PointFive, a subsidiary of Occidental, has secured $36 million in funding from the U.S. Department of Energy (DOE) to develop two carbon sequestration hubs in Texas and Louisiana. View the full article
Colombia’s Ecopetrol SA discovered an offshore natural gas deposit that could potentially produce up to 800 MMcfgd, according to Chief Executive Officer Ricardo Roa. View the full article
This four-month extension to an existing contract will build on existing operations. The project is expected to enhance the client’s seismic data acquisition capabilities, facilitating more informed decision making. View the full article
Gulf Marine Services is pleased to announce the award of a new long-term contract in Europe and the extension of two existing contracts in the Middle East, bringing the backlog total to $505 million. View the full article
Total executives used a $50-to-$60-a-barrel benchmark to test the viability of oil projects when presenting them for board approval, and is “very close” to approving a 220,000 bpd project in Suriname, CEO Patirck Pouyanne said at a conference in Rio de Janeiro. View the full article
The goal of the partnership is to identify and assess potential opportunities to decarbonize Serica’s offshore assets and other associated electrification opportunities using renewable power and subsea energy storage. View the full article
According to new analysis by Wood Mackenzie, the UK government must create a more predictable tax regime for the North Sea oil and gas sector to ensure long-term stability. After a history of ad hoc changes, the need for a clear tax framework has become urgent. View the full article
Before becoming interim president in 2023, Karr served as the Alliance’s executive vice president for five years. He will continue his work as the petroleum economist for the Alliance. Every month, he releases its Texas Petro Index (TPI), a measure of growth rates and cycles in the Texas upstream oil and gas economy, as well as the Alliance’s Texas Permian Basin Petroleum Index. View the full article
Wood is leading a Joint Industry Partnership (JIP) to create industry guidelines for CO2 specifications to accelerate sustainable Carbon Capture, Utilization and Storage (CCUS) projects. The guidelines are the first of their kind to focus on the impact of impurities in CO2 across the entire CCUS value chain.
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Transocean today announced a one-year contract for the Deepwater Conqueror with an undisclosed operator in the U.S. Gulf of Mexico. View the full article
Chevron and NNPC signed documents on the conversion of five OMLs into four PPLs and twenty-six PMLs, in line with the new PIA terms, marking a significant step towards increasing domestic gas supply and expanding global market presence. View the full article
(WO) – Venezuela detained former Oil Minister Pedro Tellechea over the weekend as part of an internal purge at the state-owned oil company, PDVSA, after President Nicolás Maduro’s disputed reelection. 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.
