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Saudi Arabia said a storage tank at Ras Tanura in the country’s Gulf coast was attacked on Sunday by a drone from the sea. The terminal is capable of exporting roughly 6.5 million barrels a day -- nearly 7% of oil demand -- and as such one of the world’s most protected installations. View the full article
Chesapeake Energy Corp., the once mighty shale explorer that exited bankruptcy earlier this year, is seeking to sell oil-producing assets in South Texas for as much as $2 billion, according people familiar with the plan. View the full article
The heart of the U.S. physical oil markets is screaming for supplies even as headline prices swing due to worries about a global recession. View the full article
Global deepwater spending by oil producers is forecast to grow to an average of $79 billion in 2026 and 2027, according to Noble, citing research from Rystad. That would be a 20% hike from the average annual amount between 2023 and 2025. View the full article
(WO) — SLB today announced the award of a contract by bp to its OneSubsea joint venture for a subsea boosting system in the greenfield development of the Kaskida project in the deepwater U.S. Gulf of Mexico.
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Shell, already the operator of the field, has right of first refusal to any sale by BP. As such, its decision to acquire the stake puts an end to BP’s deal to divest the holding to Tailwind Energy Ltd., an explorer backed by trading house Mercuria Energy Group Ltd. View the full article
Oil hit a fresh high after a U.S. government report showed an unexpected drop in crude stockpiles, allaying concerns that higher prices would blunt demand. View the full article
Pennsylvania is in the final stages of approving a new rule that would crack down on methane emissions from older oil and gas infrastructure, while exempting a vast number of low-producing wells. View the full article
In response to high interest from submitting authors, the new deadline to submit abstracts is August 8, 2022. The Congress will take place from September 17-21, 2023, in Calgary, Alberta. View the full article
Yemen's Houthi rebels have stepped up assaults on Saudi Arabia and last week claimed they hit a Saudi Aramco fuel depot in Jeddah with a cruise missile. It wasn’t clear how much damage had been caused. While such assaults rarely result in extensive damage, their frequency has created unease in the Gulf. View the full article
An Arctic cold blast that swept through the U.S. South in February caused a much bigger loss in oil supply than previously estimated, with output falling to a three-year low, according to U.S. government data. View the full article
Recently, there have been several reports inaccurately portraying the efforts of the Railroad Commission of Texas to ensure that oil and gas operators are prepared to operate during the next weather emergency. I would like to set the record straight. View the full article
Employment in the U.S. oilfield services and equipment sector rose by an estimated 4,999 jobs to 633,198 in June, according to preliminary data. View the full article
Shell, already the operator of the field, has right of first refusal to any sale by BP. As such, its decision to acquire the stake puts an end to BP’s deal to divest the holding to Tailwind Energy Ltd., an explorer backed by trading house Mercuria Energy Group Ltd. View the full article
Responding to the Queens’s speech, Offshore Energies UK said the proposed Energy Bill must create the predictability needed to attract the long-term investment crucial to boosting the nation’s energy security. View the full article
Suncor Energy Inc.’s chief executive officer stepped down on Friday after a series of fatalities at the company’s oil sands sites shook confidence in its management. View the full article
Suriname’s state oil company, Staatsolie, has announced plans to issue bonds in 2025 as part of a strategy to finance its participation in the development of offshore Block 58. View the full article
This is the final article in our three-part series exploring the American Petroleum Institute’s (API's) standards development process. In this final article, we turn our attention to the final stages of this process: the approval, publication and ongoing maintenance of a standard. View the full article
Physical oil markets are screaming for more supply. Prices are rising in the North Sea, the key region that’s central to the value of many oil transactions, while differentials for Nigerian grades have also made notable gains. View the full article
Royal Dutch Shell Plc shareholders approved the relocation of the company’s headquarters to London from The Netherlands, a move that will help it to boost returns while transitioning to clean energy. View the full article
Noble Corp. and Maersk Drilling offered to divest some of its offshore operation platforms to avoid an in-depth investigation from the U.K.’s antitrust regulator over the $2.6 billion deal, potentially smoothing the way for approval. View the full article
Shell Egypt and one of its affiliates have signed an agreement with a consortium made up of subsidiaries of Cheiron Petroleum Corporation and Cairn Energy PLC to acquire Shell’s upstream assets in Egypt’s Western Desert. View the full article
TechnipFMC will continue to provide a wide range of engineering, studies and technical services to Neptune Energy, including installation work and operational support for Neptune’s development projects and producing fields. View the full article
Baker Hughes is taking a 15% stake in a startup that aims to produce natural gas from hydrogen and carbon dioxide, the oilfield service company’s latest move to invest technology designed to capture emissions. View the full article
Most crude processors that were hit by Hurricane Ida escaped major damage and are expected to be back online within three weeks, according to IHS Markit. 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.
