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Shale executives have dramatically dialed back their oil-price expectations over the past three months as recession risks weigh on the market, according to the latest energy survey by the Federal Reserve Bank of Dallas. View the full article
Aramco and Sempra have executed a non-binding Heads of Agreement (HoA) for a 20-year sale and purchase agreement (SPA) for liquefied natural gas (LNG) offtake of 5.0 million tonnes per annum (MMtpa) from the Port Arthur LNG Phase 2 expansion project. View the full article
Granite Ridge acquired 51 gross (4.7 net) future drilling locations for $12.6 million. The estimated future development costs for the acquired properties is $50 million. The acquisitions include assets in the Midland, Delaware, DJ, Williston and Appalachian basins. View the full article
NES, specializing in sustainable energy design and smart control systems for vessels, will deliver a containerized energy storage system that includes a “Quest” battery charger, a 1 MW battery package, and a control system. The system is capable of operating in peak shaving, spinning reserve and harbor mode. View the full article
The Independent Petroleum Association of America (IPAA) President and CEO Jeff Eshelman issued a statement on the results of the 2024 presidential election, congratulating Trump and expressing enthusiasm for Trump's commitment to energy leadership. View the full article
If the first initial public offering of a U.S. shale driller in four years is any indication, Wall Street is still souring on the U.S. oil and gas patch. View the full article
Enbridge Inc. said it will continue to ship crude through its Line 5 pipeline that crosses the Great Lakes, despite Michigan Governor Gretchen Whitmer’s deadline Wednesday to shut the conduit. View the full article
ABB’s new online platform Ability Marine Fleet Intelligence – Advisory combines the power of cloud-based analytics and reporting with user-friendly visualizations to help shipowners, managers and charterers optimize ship performance fleet-wide. View the full article
Iraq cut the price of its banner crude for U.S. customers sharply, a bold deviation from what Saudi Arabia chose to do with its own barrels just a few days ago. View the full article
Exxon Mobil Corp.’s multiyear effort to extricate itself from a groundbreaking Iraqi oil deal may hinge on the involvement of one of the world’s biggest frackers. View the full article
ADNOC and TAQA announced a $3.6 billion strategic project to significantly decarbonize ADNOC’s offshore production operations, further strengthening ADNOC and TAQA’s position in driving and leading sustainability efforts and supporting the UAE’s ‘Net-Zero by 2050 Strategic Initiative’. View the full article
Energy companies will need to provide updates each quarter on how they’re boosting clean energy investments in order to avoid a UK windfall tax on their surging oil and gas earnings, British government minister Alok Sharma said. View the full article
The nation’s shipments to buyers have declined for five consecutive weeks, taking them down by 480,000 barrels a day, or 13%, since mid-June. That's based on a rolling four-week average that helps to provide a better picture of the trend than the observation of flows from one week to the next. View the full article
Subsea7 has entered into four long-term vessel charter agreements with Otto Candies LLC and Bordelon Marine LLC, to strengthen offshore construction, inspection, maintenance and repair, ROV survey, and pipe/umbilical laying support operations, in the Gulf of Mexico. View the full article
More than 50% of oil executives told the Dallas Fed they foresee lower domestic crude production if the consolidation trend continues for five years, according to second-quarter survey results released Wednesday. View the full article
Equinor's exit from Suriname is part of a broader strategy, having exited about 20 countries in recent years, including South Africa, Mexico, and Russia, the latter due to the invasion of Ukraine. View the full article
Upon closing, the combined company will be the largest natural gas producer in the U.S. and assume the name Expand Energy Corporation. View the full article
The National Ocean Industries Association (NOIA) issued a statement congratulating President-elect Trump, and expressing belief that the benefits of American offshore energy production transcend political affiliations. View the full article
TechnipFMC has entered into an agreement with Magnora ASA to jointly pursue floating offshore wind project development opportunities under the name Magnora Offshore Wind. View the full article
Rising global oil prices are translating into shortages at the pump in cash-strapped Lebanon, with motorists lining up for hours to fill their tanks in the latest blow to living standards in the Middle Eastern nation. View the full article
The transaction will include all of Oryx’s Permian assets and, with the exception of Plains’ long-haul pipeline systems and certain of its intra-basin terminal assets, the vast majority of Plains’ assets located within the Permian Basin. View the full article
Norway’s opposition Labor Party is on course to oust the Conservative-led government after two consecutive terms in an election dominated by disputes over the Nordic economy’s dependence on fossil fuel. View the full article
A global energy crisis has sent prices for gas and coal soaring around the world, and this has turbocharged the recovery in benchmark London- and New York-traded oil futures, Bank of America Corp. analysts including Francisco Blanch wrote in a note. View the full article
ADNOC and TAQA announced a $3.6 billion strategic project to significantly decarbonize ADNOC’s offshore production operations, further strengthening ADNOC and TAQA’s position in driving and leading sustainability efforts and supporting the UAE’s ‘Net-Zero by 2050 Strategic Initiative’. View the full article
The OU team designed and proposed a system to repurpose six abandoned oil and gas wells in Shawnee, Oklahoma, to provide clean, renewable geothermal energy for more than 730,449 square feet of educational and municipal buildings. 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.
