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Hot weather has contributed to a wildfire outbreak in Western Canada, with 170 burning in Alberta alone — 53 of them out of control. The equivalent of about 388,000 bpd of oil production and 13,400 bpd of natural gas are within 10 km (6.2 miles) of blazes that are at least 10 hectares (25 acres) in size, according to Alberta Wildfire geographic data and Alberta Energy Regulator June production data. View the full article
About 500,000 bpd of marketable oil sands production could be within 10 km (6.2 miles) of an out-of-control blaze, Rystad Energy said in a report Thursday. That’s equal to roughly 10% of the total oil production in the province. As much as 1.2 MMbpd could be within 20 km. View the full article
The $2.25 trillion, eight-year proposal is a follow-up to the $1.9 trillion economic relief bill passed earlier this month. To cover the costs, Biden wants to raise corporate taxes to 28% from 21%. The plan also seeks a minimum tax on profits U.S. corporations earn overseas, increasing the rate to 21% from roughly 13%. View the full article
The arbitration process to determine whether ExxonMobil can block the $53 billion sale of Hess Corp to Chevron is stalled due to the incomplete appointment of a third arbitrator, according to people familiar with the matter. View the full article
Billionaire Harold Hamm may trigger a bidding war for Continental Resources Inc. with his $4.3 billion takeover offer for the shale powerhouse he founded. View the full article
ConocoPhillips received a second information request from the U.S. Federal Trade Commission (FTC) regarding its proposed acquisition of Marathon Oil. Both companies received the requests on July 11 and are collaborating with the FTC to review the merger. View the full article
Santos Ltd. has given the go-ahead for a $2.6 billion oil field project in Alaska to expand its production beyond the Asia-Pacific region. View the full article
Oil prices recovered earlier declines as the U.S. and other consuming nations announced a landmark move to tap their strategic reserves. View the full article
The Biden administration’s unprecedented, coordinated attempt to tame oil prices by authorizing one of the biggest ever draw-downs of U.S. crude reserves has elicited a collective shrug from the shale patch. View the full article
The Biden administration’s unprecedented, coordinated attempt to tame oil prices by authorizing one of the biggest ever draw-downs of U.S. crude reserves has elicited a collective shrug from the oil industry. View the full article
The FEED work will be based on the scope of the Unit Development Plan approved by the Mexican Hydrocarbon Commission (CNH) last year. It covers the planning of two offshore platforms, 68 km of pipelines and cables as well as a new onshore facility, fully dedicated to the Zama project, located in the Dos Bocas Maritime Terminal, in Paraiso, Tabasco. View the full article
This year’s Economic Report from the Permian Strategic Partnership (PSP) emphasizes the area’s status as the second lowest producer of CO2 emissions per barrel of oil equivalent among the major onshore producing basins worldwide. View the full article
OLT Offshore LNG Toscana announced that the extraordinary maintenance activities of the FSRU Toscana terminal have been successfully completed. View the full article
U.K. Prime Minister Boris Johnson urged Saudi Arabia to ramp up oil production, seeking to cool record fuel prices in an echo of comments last week from President Joe Biden. View the full article
US tight oil operators have for several months been depleting their inventory of drilled but uncompleted wells (DUCs) and, amid a slower drilling response, the number of ‘live’ DUCs in the country’s major oil regions slumped to 2,381 wells in June 2021, the lowest level since 2013, a Rystad Energy analysis reveals. View the full article
US tight oil operators have for several months been depleting their inventory of drilled but uncompleted wells (DUCs) and, amid a slower drilling response, the number of ‘live’ DUCs in the country’s major oil regions slumped to 2,381 wells in June 2021, the lowest level since 2013, a Rystad Energy analysis reveals. View the full article
As Texas officials hunt for financial firms hostile to the energy industry, Wall Street is rolling out its fossil fuel bona fides to convince officials not to bar them from doing business with the state. View the full article
A Nigerian lawyer warned that international oil companies divesting from the West African country will abandon their obligations to compensate and clean up communities polluted by decades of crude production. 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.
