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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
Petrobras has confirmed a significant gas discovery in Colombia's Guajira offshore basin, estimating the potential reserves at around 6 trillion cubic feet. View the full article
Libya’s oil production climbed above 1 MMbpd for the first time in two months, after the resolution of a political standoff in the OPEC nation that had curbed output and exports. 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
The combined solution will address challenges in locating, re-entering and re-abandoning legacy wells that penetrate, or pass through, offshore oil and gas reservoirs or saline aquifers that have been earmarked to be repurposed for carbon dioxide (CO2) or hydrogen storage. View the full article
(WO) — National oil companies tend to be more bloated and less efficient than their private-sector counterparts. Yet Petroleos Mexicanos, with a workforce of about 128,000, stands out even among its state-owned peers. View the full article
IDEC Corporation has updated its SmartAXIS touch family with the new FT1J Series combined PLC+HMI, building on the success of the FT1A-C and -M Series 3.8” PLC+HMIs 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
Equinor has acquired a 9.8% minority stake in Ørsted—a transaction which establishes Equinor as the second largest shareholder in Ørsted, after the Danish State, which holds a controlling stake in the company. View the full article
C-5H will be operator Empire Energy’s longest drilled and stimulated horizontal shale well and will target a ~3,000 m horizontal section and ~60 fracture stimulation stages. C-5H will integrate the best completion practices from North American shale analogues and incorporate learnings from Carpentaria-2H and Carpentaria-3H. View the full article
Brazil’s state-controlled oil company is nearing a deal with government regulators allowing it to move forward with plans to redevelop a massive deep-water field that could reinvigorate the nation’s stalled output. View the full article
Chevron Corp. agreed to sell stakes in oil sands and shale assets in Western Canada to Canadian Natural Resources Ltd. for $6.5 billion. View the full article
Baseline Energy Services LP has recently opened a new facility to serve
customers in the Uinta Basin. This new Baseline location is fully equipped to support this region’s mobile power generator fleet and will provide a full range of maintenance and repair services.
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Libya has resumed oil production, restoring hundreds of thousands of barrels a day to global markets after an embargo was lifted by the country's eastern government. The move follows an easing of a political standoff that had sharply reduced output from the OPEC member. View the full article
Gran Tierra Energy Inc. has announced that the shareholders of i3 Energy plc, a public limited company organized under the laws of England and Wales, have approved Gran Tierra’s previously announced acquisition of i3 Energy. View the full article
Equinor has acquired a 9.8% minority stake in Ørsted—a transaction which establishes Equinor as the second largest shareholder in Ørsted, after the Danish State, which holds a controlling stake in the company. View the full article
ExxonMobil Guyana plans to increase output from its Stabroek block offshore Guyana by 18,000 bpd once it has completed risk assessments and received approval from local authorities View the full article
AGR has been awarded a long-term frame agreement by Equinor to provide subsurface and field development support related to project developments of Equinor’s facilities, offshore installations and onshore plants. View the full article
After a history of ad hoc changes, the UK government must implement a more predictable tax regime that provides greater long-term stability to the North Sea oil and gas sector, as soon as possible, according to new analysis by Wood Mackenzie. View the full article
Saudi Arabia is preparing to make a multibillion-dollar bet on hydrogen and will launch a new company to produce the much hyped low-carbon fuel, according to people familiar with the matter. View the full article
Oil executives have emerged as an increasingly important source of funding for Donald Trump, as industry titans open their wallets to bolster the Republican nominee’s campaign for a second term in the White House. View the full article
Transocean Ltd. has secured a $232 million contract with bp for its Deepwater Atlas drillship in the U.S. Gulf of Mexico. View the full article
The scope includes engineering, procurement, construction, installation and commissioning (EPCIC) for topside modification. The purpose is to prepare the Troll A platform for receiving and processing gas from eight new wells at Troll West. 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.
