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Block also increased oil production to 151,184 bbls and gas production to 283 MMcf, resulting in an average daily production rate of 543 boed. Additionally, the company raised $2 million via a secured loan to undertake drilling operations on Project I and completed the Project IV farm-out, achieving a carried work program valued at over $3 million (gross). View the full article
Secretary of State Antony Blinken said it was ‘unlikely’ the U.S. and Iran would reach a new nuclear deal anytime soon, adding to Western officials’ downbeat assessment over the prospects for reviving an accord that President Donald Trump abandoned in 2018. View the full article
Growing demand for application-specific routing and cyber security has created new solutions for users, writes Alexandre de Luca, President, Energy, Enterprise and Government, Marlink View the full article
More than 100 people died in an explosion at an illegal oil refinery in southeastern Nigeria over the weekend, demonstrating the dangers associated with an illicit industry that thrives in the crude-producing region. View the full article
BlackRock Inc. Chief Executive Officer Larry Fink said emerging economies need about $1 trillion a year over the next three decades for the world to achieve carbon neutrality. View the full article
The hedge fund veteran and founder of Hayman Capital Management says the backlash that’s been building against environmental, social and governance (ESG) investing in recent years is largely due to climate activists’ demands that oil and gas be abandoned here and now. As a proposition, that was never tenable or even responsible, he says. View the full article
(WO) — As part of an ongoing joint venture with LGX Energy, Black Gold Exploration has added 822 acres to the package of oil, gas and mineral leases in Indiana, U.S., where LGX is actively involved in exploration and production.
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BJ Energy Solutions' first 40,000 Horsepower (HHP) TITAN fleet began a phased deployment in the Haynesville on Jan. 5, becoming fully operational by Jan. 31. View the full article
(WO) — BiSN, the global provider of wel-lok™ sealing solutions, has achieved a significant milestone by reaching 500 commercial deployments of its bismuth-based sealing technology. View the full article
Tim Duncan, who was also one of the company’s founders, stepped down on Thursday. Board member Joseph Mills will serve as interim CEO. Earlier this month, Carlos Slim, Latin America’s richest person, took advantage of the equity-market selloff to boost his stake in Houston-based Talos, which focuses on oil exploration and production in the Gulf of Mexico. View the full article
Bilfinger will perform inspection services on the offshore assets of Total EandP (Exploration and Production) Denmark. The €40 million ($48.6 million) contract will be booked under Bilfinger’s Engineering and Maintenance Europe segment. View the full article
The largest gasoline pipeline in the U.S. is returning to service, recovering from a cyberattack late Friday that sent pump prices surging and triggered shortages across the Eastern U.S. View the full article
Mewbourne Oil Co., the largest private oil producer in the U.S., said it will remain in the hands of its controlling family after the recent death of its eponymous founder. View the full article
Big swings in the price of oil derivatives signaled that U.S. crude supply is getting tighter, adding another dimension to the volatility that’s gripping energy markets. View the full article
Big Oil is walking away from tens of billions of dollars of Russian assets, but $100 crude is easing the sting. View the full article
Oil booms typically spark a chase for higher production -- but not this time. All five supermajors have kept their capital expenditure budgets firmly in check and pledged that this discipline will hold in future years. View the full article
After one of the most difficult years in the oil industry’s history, crude prices have recovered and major producers are finally generating spare cash. Investors really want to get their hands on it, but most are likely to be disappointed. View the full article
Climate change looms large for Royal Dutch Shell Plc, BP Plc and Total SE, with investors at all three energy giants calling for greater action. Shareholder resolutions on cutting carbon emissions are set to dominate this month’s AGMs, even as the companies talk up their own, competing proposals. View the full article
The Gulf Energy Alliance (GEA) joined the States of Louisiana, Texas, and Mississippi in a legal challenge to the Department of Interior’s (DOI) Bureau of Ocean Energy Management’s (BOEM) decommissioning rule imposing unnecessary and burdensome financial requirements targeting independent offshore oil and natural gas producers. View the full article
Biden administration officials are “encouraged” by ongoing OPEC talks and have spoken with officials in Saudi Arabia and the United Arab Emirates in hopes of reaching an agreement to stem the rise in crude prices, White House Press Secretary Jen Psaki said. View the full article
It’s been almost three weeks since the U.S. unveiled an internationally coordinated release of oil from national reserves, but so far there’s been little follow through from the other five nations. View the full article
As U.S. President Joe Biden weighs alternatives to lower fuel prices, one move that could bring immediate relief at the pumps is sparking debate: adjusting the Bush-era renewable fuel mandate. View the full article
President Joe Biden is under intensifying pressure to keep a lid on rising gasoline and natural gas prices that threaten the economic recovery and Democrats’ political ambitions. View the full article
The move by senators Steve Daines of Montana and Cynthia Lummis of Wyoming underscores deep opposition from many Senate Republicans over the Biden administration’s plans for managing the nation’s federal lands and waters. View the full article
The Biden administration’s efforts to lower energy costs takes a step forward Monday, with bids due for the first 32 million barrels of crude planned for release from federal stockpiles. 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.
