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These reconnaissance contracts cover the Safi-Essaouira and Agadir-Ifni areas offshore the cities of Safi, Essaouira, Agadir and Sidi Ifni. View the full article
North Sea nations and oil companies face costs of more than $100 billion to shut down old wells in the depleted region. Researchers in Norway believe they can cut that figure dramatically. View the full article
Futures in New York slid 1.6%, the latest sizable move this week. Work to re-float the container ship that’s stuck in the Suez Canal -- a key trade route for crude flows -- was expected to begin early Thursday in Egypt. The best chance of freeing the vessel may not come until Sunday or Monday. View the full article
Oil is “in a holding pattern until we get to June, because that’s when Europe’s going to start to reopen and the U.S. driving season will have officially kicked off,” said Jay Hatfield, CEO of Infrastructure Capital Management. “Between now and then, the main influences will be Iran headlines as a headwind” and signs of further improvement in the U.S. market as a supportive factor. View the full article
Outside of the U.S. and OPEC, Brazil is set to add more crude production through 2026 than any other country. It wants to double crude output by 2030 to become the world’s fifth-largest exporter, and even if it doesn't hit that target, low-cost oil plays have positioned the country well to emerge as one of the world's most important sources for production growth. View the full article
Lagoon Water Midstream has closed on the acquisition of Double Drop Resources, a water management company located in the Permian basin. View the full article
Spare capacity in the oil market will shrink significantly next year as travel rebounds and due to a lack of investment among producers, according to Saudi Aramco. View the full article
A deep-freeze in Canada and Northern U.S. is disrupting oil flows, causing a surge in crude prices just as American stockpiles are declining. View the full article
African hydrocarbon producing countries are increasing oil and gas licensing rounds to be able to stabilize supply of hydrocarbons in years to come to meet growing energy demand as output in legacy projects declines. View the full article
Russia appears to have found a new means of getting its oil to market with western sanctions looming for Moscow. View the full article
The International Maritime Industries (IMI) already has signed offtake agreements totaling $10 billion over 10 years with partners Aramco and Bahri, for the delivery of 20 rigs and 52 vessels acquiring at least 75% of Bahri commercial vessel needs over the period from the shipyard. View the full article
U.S. LNG exports yield significant economic advantages by bolstering natural gas production, thereby enhancing labor income within the sector and driving down the costs of imported goods while bolstering the value of the dollar, consequently stimulating heightened economic activity, according to the Center for LNG. View the full article
Europe’s oil giants came into 2020 promising shareholders they can “do it all” -- maintain generous dividends, keep the crude flowing and make a historic shift toward clean energy. Only one of them may succeed. View the full article
Yemen’s Iran-backed Houthi rebels are ready for an “honorable peace” but Saudi Arabia must end its attacks and lift its siege, group leader Abdul Malik al-Houthi said on Thursday. View the full article
China is set to extend its dominance in the global oil market as planned tax adjustments spark a chain reaction, prompting processors to boost crude imports and raise refinery run rates. View the full article
The Whale development, owned by Shell Offshore Inc. and Chevron U.S.A. Inc., is expected to reach peak production of approximately 100,000 barrels of oil equivalent per day and currently has an estimated, recoverable resource volume of 490 million barrels of oil equivalent. View the full article
ConocoPhillips’s $9.5 billion deal to buy shale assets from Royal Dutch Shell Plc will boost the amount of carbon the company pumps into the atmosphere. Yet the company says the pact will actually allow it to reach one of its climate goals faster. View the full article
The UK won’t join an alliance of countries fixing a date to phase out fossil fuel production, in a move that calls into question the COP26 host nation’s climate leadership. View the full article
Pioneer Natural Resources Co., the biggest oil producer in the Permian Basin, closed out almost all its hedges for this year, indicating a bullish outlook for crude prices. View the full article
The Spanish engineering company Saitec has announced its interest in developing a pre-commercial pilot park with 5 units and a total potential of 50MW in the Mediterranean Sea in 2025. View the full article
Russia appears to have found a new means of getting its oil to market with Western sanctions looming for Moscow. View the full article
APA Corporation announced the sale of non-core producing properties by Apache Corporation in two separate transactions for over $700 million. Combined, the properties represent estimated net production in the first-quarter 2024 of 13,000 boed, of which just over one-third is oil. View the full article
SLB announced that, as expected, it and ChampionX have each received a request for additional information (second request) from the United States Department of Justice (DoJ) in connection with the DoJ’s review of SLB’s planned acquisition of ChampionX. View the full article
The Spotlight on New Technology Award recognizes companies that have created new and advanced technologies that play a role in advancing the offshore oil and gas sector into the forthcoming years. View the full article
The borrowing plan underscores how badly Persian Gulf countries were impacted by the drop in crude prices last year as the coronavirus pandemic spread and energy demand plunged. 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.