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A “big chunk” of U.S. shale is profitable at current oil prices, but drillers should be aware of crude’s declining share in the future global energy mix, International Energy Agency Executive Director Fatih Birol said in an interview. View the full article
President Joe Biden’s Jan. 27 executive order entitled Tackling the Climate Crisis at Home and Abroad violates federal law by sidestepping honest debate on whether the “speculative” benefits of the plan outweigh the financial cost to states, Wyoming said in a complaint filed Wednesday in federal court. A similar suit was filed separately by more than a dozen states led by Louisiana. View the full article
Iran’s President Hassan Rouhani said world powers have accepted that major sanctions on his country -- including those on oil, banking and shipping -- will be lifted as part of an agreement with the U.S. to revive a 2015 nuclear deal. View the full article
Under the agreement, Germany commits to taking action if Russia tries to use energy as a weapon against Ukraine, a decision that may mark a concession from Chancellor Angela Merkel, who had previously balked at making independent moves against the Kremlin over the gas pipeline. View the full article
Key Energy Services, Inc. announced the sale of substantially all of its Texas and New Mexico fluid management and saltwater disposal well assets for cash and the assumption by the buyer of the related asset retirement obligations. View the full article
The United Arab Emirates said oil prices would be even higher today if it wasn’t for OPEC+, signaling the group will continue resisting U.S. pressure to pump faster. View the full article
ExxonMobil announced two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. View the full article
This achievement further establishes the company as a strategic player in the international energy sector and marks a 22% increase in production from 2021. View the full article
Out of $8.45 billion in profits BP posted for the second quarter, $3.5 billion will be used to buy back the company’s own shares, and the dividend will rise by 10%. View the full article
The first phase of decommissioning commenced in February, with Elemental Energies providing well management services from its Houston office for the plugging and abandonment of wells in the Matagorda Island area, offshore Texas. View the full article
During the deepwater Kaminho project’s first phase of development for the Cameia field, SLB OneSubsea will collaborate with TotalEnergies to deploy a highly configurable subsea production platform with standardized vertical monobore subsea tree, wellhead, and controls system. View the full article
The Railroad Commission of Texas (RRC) has imposed more than $2 million in fines on operators and businesses for violations within the state's oil and gas industry. View the full article
Viper Energy, Inc., a subsidiary of Diamondback Energy, Inc., today announced that it completed the previously announced acquisition of certain mineral and royalty interest-owning subsidiaries of Tumbleweed Royalty IV, LLC. View the full article
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How does a global industry respond to a global pandemic? In this roundtable, four experts with four different perspectives look beyond the economic impacts and consider how the experience of Covid-19 could change attitudes toward work, technology, the environmental agenda and the future of the energy sector, itself. View the full article
Futures in New York jumped 5.9% on Wednesday, just about erasing the prior session’s price plunge that pushed futures to the lowest since early February. A U.S. inventory report showed domestic fuel consumption is at the highest in four months and Gulf Coast refiners are increasing their appetite for crude. View the full article
“Since it began commercial operations in 2002, Malampaya has supplied a significant portion of the Philippines’ energy demand and it will continue powering the country with indigenous gas following a safe transition of the asset and its experienced workforce,” said Wael Sawan, Shell’s Upstream Director. View the full article
Shell Trinidad and Tobago announced that production has started on Block 5C in the East Coast Marine Area in Trinidad and Tobago. This marks a significant milestone in the delivery of gas both domestically and internationally through Atlantic LNG. View the full article
Oil rose after a two-day decline with a selloff in global equities easing and some crude output still shut three weeks after Hurricane Ida hit the U.S. View the full article
Global drilling, engineering and technology provider KCA Deutag has been awarded contracts worth almost $185m from leading exploration and production companies across key markets in the Middle East region. View the full article
The vessel hired by Royal Dutch Shell Plc to look for potential oil and gas fields is on course to leave South African waters after community groups won a court case to temporarily halt the activity. View the full article
Oil and gas exploration and production companies in the North Sea are set to miss out on billions of dollars of cash after the UK implemented a windfall tax on energy firms to tackle the rising cost of living. View the full article
Oil-watchers are skeptical that OPEC+ will answer President Joe Biden’s call for more oil supplies when it meets on Wednesday, expecting the coalition to preserve its remaining capacity for another time. View the full article
The London-based major now aims to reduce its net carbon intensity by 15% to 20% by 2030, compared with a previous target of 20%. View the full article
The three new island rigs will operate on existing and newly constructed innovative artificial islands at the offshore Zakum field for drilling and completion of wells. The rigs, which will be constructed by Honghua Group (HH), will incorporate industry leading technology and automation. Delivery of the rigs and commencement of operations is expected during 2026. 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.
