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The subsea market segment, which includes players involved in production and processing systems such as subsea umbilical risers and flowlines (SURF), trees, wellheads, manifolds and other components, is poised to experience a significant influx of capital, according to Rystad Energy. 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
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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(Bloomberg) – Petrobras plans to boost spending on new oil drilling and other projects by almost 9% to $111 billion in the next five-year plan. Petrobras' eight-person executive office proposed that amount for the 2025-2029 period, according to a filing Monday. View the full article
Reconnaissance Energy Africa Ltd. announces that it has reached total depth (TD) of 4,184 meters (13,727 feet) on the Naingopo exploration well on Petroleum Exploration License 073 (PEL 73), onshore Namibia. View the full article
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
As part of its ambition to aim for near-zero methane emissions by 2030, TotalEnergies announced they are going a step further in the monitoring and reduction of its methane emissions with the deployment of continuous, real-time detection equipment at all of its operated upstream sites. 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
(Bloomberg) -- Exxon Mobil Corp. has agreed to sell most of its assets in Argentina’s Vaca Muerta shale patch to Pluspetrol S.A., as Exxon shifts focus to other areas of interest, including Guyana. View the full article
This four-month extension to an existing contract will build on existing operations. The project is expected to enhance the client’s seismic data acquisition capabilities, facilitating more informed decision making. 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
(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
(WO) — The National Petroleum Corp. of Namibia aims to triple its stake in future oil and gas projects to 30% as the southern African nation is set for a surge in activity following multiple offshore discoveries. View the full article
(WO) — A surge in energy demand from technology giants that are rapidly developing cloud computing and artificial intelligence — known as hyperscalers — is becoming a major boon for the fossil fuel industry. View the full article
Before becoming interim president in 2023, Karr served as the Alliance’s executive vice president for five years. He will continue his work as the petroleum economist for the Alliance. Every month, he releases its Texas Petro Index (TPI), a measure of growth rates and cycles in the Texas upstream oil and gas economy, as well as the Alliance’s Texas Permian Basin Petroleum Index. View the full article
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
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
The Energy Workforce & Technology Council (EWTC) and National Ocean Industries Association (NOIA) have both voiced their support of President-elect Trump's choices for U.S. Energy Secretary and U.S. Interior Secretary, respectively.
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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
Last week, the Independent Petroleum Association of America (IPAA) – advocating for thousands of oil and natural gas producers that develop 90 percent of wells nationwide – held its fall Board of Directors meeting as part of its 95th Annual Meeting and announced the following board appointments. 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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Mermaid Subsea Services has successfully completed what is believed to be the largest vessel-based U.K. North Sea decommissioning campaign in history. The project spanned two years and involved the plugging and abandonment (P&A) of 21 wells. View the full article
Awards for excellence in decommissioning were presented to CNOOC International and J+S Subsea at a celebratory dinner for more than 500 leaders of the North Sea specialist industry organised by OEUK as part of its annual Decommissioning Conference held in St Andrews, Scotland. View the full article
Chevron announced a donation of $250,000 and critical fuel supplies to support relief and recovery efforts after Hurricane Milton devastated parts of Florida. 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.
