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The facility which Petrofac will continue to manage is one of the largest in the Gulf, and handles around 55% of Iraq’s crude oil exports. View the full article
One of the fastest-growing corners of China’s energy market is facing a potentially devastating blow as Xi Jinping’s government increases scrutiny of high-emission fuels. 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
OPEC and its partners could quickly deploy their stalled production spare capacity to quash oil price rallies, the IEA said in its monthly report. Demand won’t return to pre-virus levels until 2023, the agency said in a separate report. View the full article
Oil and gas producers Tailwind Energy Ltd., Serica Energy Plc, Ithaca Energy Ltd., EnQuest Plc and newcomer Waldorf Production UK Ltd. have been considering binding offers for some or all of the assets, according to people familiar with the matter. View the full article
Expro Group has formed an exclusive alliance with global vessel provider FTAI Ocean for the supply of the DP3 M/V Pride well intervention vessel to provide full light well intervention services to the subsea oil and gas sector. View the full article
The Industrial Decarbonization Strategy, published March 17, is part of the UK’s ambition to effectively eliminate greenhouse gas emissions by 2050. View the full article
Early bird registration for the 23rd World Petroleum Congress is now open and available through April 30th. Delegates who take advantage of registering early for the Congress, to be held in Houston, U.S.A. from December 5-9, 2021, will receive a discount of over one third on the onsite price. View the full article
Abu Dhabi National Energy Co. is considering options for its oil and gas assets, including a potential sale, as the state-owned utility focuses more on power generation, people familiar with the matter said. View the full article
Refineries in Michigan, Ohio, Indiana, Pennsylvania as well as those in Ontario and Quebec would have to find alternative means for securing crude oil should Line 5 be shut, requiring the building of new rail terminals and rail cars, Vern Yu, Enbridge's president of liquid pipelines, told Canadian lawmakers Tuesday. View the full article
Global oil demand won’t return to pre-pandemic levels until 2023, and growth will be subdued thereafter amid new working habits and a shift away from fossil fuels, the International Energy Agency said. View the full article
Futures in New York slipped 0.9% on Tuesday for a third straight session of losses, following a surge earlier this month to intraday levels last seen in 2018. Though there are indications of growing demand in some parts of the world, other regions -- notably Europe -- are lagging. View the full article
Exxon Mobil said in a letter to shareholders March 16th that Engine No. 1’s approach ignores the role oil and natural gas will play in the future, and the leadership role the oil giant intends to take in reducing emissions through the development of lower-carbon technologies. View the full article
Chevron’s pledge of “ever-cleaner energy” amounts to so-called greenwashing because it hides the reality that the company’s production plans may end up increasing absolute emissions, according to a Federal Trade Commission complaint filed by Global Witness, Greenpeace USA and Earthworks. View the full article
The Senate’s 51-40 vote underscored deep opposition from Republicans who worry Haaland’s criticism of fossil fuels means she will discourage oil development across hundreds of millions of acres of federal land under the Interior Department’s control. View the full article
Sercel and Kappa Offshore Solutions introduced PIKSEL, a compact marine seismic solution specially designed for acquiring seismic data for high-resolution 3D imaging of targeted offshore areas. View the full article
With new coronavirus infections falling to a record low last week and vaccination efforts ramping up, the latest crude demand rebound comes with a lower threat of being set back again by new outbreaks. View the full article
More focused than ever on keeping spending in check, shale operators haven’t been drilling new wells fast enough to keep up with output declines in older ones. So, next month, their combined production will edge lower by 47,000 barrels a day to about 7.46 million, according to the U.S. Energy Information Administration. View the full article
The Madero and Ignacio energy storage plants will deliver valuable grid support to the Electric Reliability Council of Texas (ERCOT), the body responsible for managing the electric supply to more than 25 million customers. View the full article
Figures from China for the first two months of the year showed a surge in industrial output, underscoring the strength of its V-shaped rebound and reinforcing expectations for increased energy demand. View the full article
Seen from Moscow, the melting of the polar ice cap is as much economic opportunity as natural disaster, opening the Northern Sea Route from Asia to Europe for shipping and creating access to potentially vast new reserves of minerals, oil and gas. View the full article
Pemex is under pressure to prove that the company is increasing production under the government of President Andres Manuel Lopez Obrador, who swept into power in late 2018, promising to revive it by rolling back the liberalizing energy reforms of his predecessor. View the full article
“Going forward into April and May, we’re going to see pretty significant increases in demand,” said Bart Melek, head of commodity strategy at TD Securities. “At this point, however, prices are a little overdone. The market is assuming a little too much in terms of what OPEC+ will do.” View the full article
Asia’s emergence as global natural gas trading superpower will increasingly dictate market rates in Europe for a once-localized commodity that was simply linked to the price of oil. View the full article
Billionaire investor Carl Icahn, the third-largest shareholder in Occidental Petroleum Corp., plans to cut his $2.71 billion stake by up to one-third while remaining on the oil company’s board. 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.
