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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
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
Nigerian National Petroleum Corp. (NNPC) and partners including Shell, TotalEnergies and Agip struck a landmark deal to sell gas to the methanol-manufacturing project of the country’s Brass Fertilizer & Petrochemical Co. Ltd. View the full article
Panoro Energy has announced that following the provisional award of a 25% participating interest in two exploration blocks offshore shallow water Gabon, final terms have been agreed with the government of Gabon for production sharing contracts (PSCs) covering the two blocks. View the full article
Gran Tierra has successfully drilled five exploration wells in Ecuador, each leading to an oil discovery. Three of these five wells are drawing medium to light hydrocarbons from distinct geological zones, highlighting the exceptional potential of the Oriente and Putumayo basins and the significant exploration opportunities that remain within both the Charapa and Chanangue Blocks. 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
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
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) – The enthusiasm was evident on Day 2 of the Women’s Global Leadership Conference in Energy, as Kelley Henderson, GM of Category Management and Projects for Chevron, delivered an empowering keynote speech highlighting five key leadership behaviors. 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
During its 95th Annual Meeting in Boca Raton, Fla., last week, the Independent Petroleum Association of America (IPAA) announced its new chairman for a two-year term while also revealing its first Chief Roughneck Award winner in five years. The two-day event hosted independent producers from across the U.S. 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
Petrofac has been awarded a multi-million-dollar, two-year contract by Bapco Upstream. Petrofac will support Bapco's production plans to meet gas demands for Bahrain through the delivery of well hook-ups, associated pipelines and tie-ins for several new wells within the Bahrain Field. 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 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 Republic of Congo (ROC) is preparing a new Gas Code to incentivize investment across the natural gas value chain. Concurrently, the country is preparing to launch its Gas Master Plan (GMP), serving as a roadmap for investing in the ROC’s gas sector. 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
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
Nostra Terra, the international oil & gas exploration and production company with development and production assets in Texas, U.S., has announced a successful fundraise supported by institutional investors, Directors and Management, existing shareholders and new investors. View the full article
Equinor ASA said new seismic data is allowing for the reassessment of offshore oil and gas resources on Norway’s continental shelf, underpinning exploration and production efforts as the company targets as many as 30 wildcat wells a year through 2035. View the full article
ADNOC has signed a long-term Heads of Agreement with IndianOil for 1 million metric tonnes per annum of liquefied natural gas (LNG) from its Ruwais LNG project in Abu Dhabi. View the full article
(WO) — ADNOC Drilling announced a significant increase in third quarter 2024 revenue, driven by the company's expansion of onshore and offshore fleets, OFS expansion and joint-venture contributions. 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
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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.
