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(Bloomberg) – China’s Cnooc Ltd. said it’ll keep spending flat in 2025, while revising its output targets lower. The country’s biggest offshore oil and gas explorer produced about 720 million barrels of oil equivalent in 2024, according to statement. View the full article
OEG Energy Group has moved into a new global HQ in Dyce, Aberdeen, following a seven-figure sum investment in a multi-year lease. This marks a significant milestone in the organization’s 50-year journey, serving as a launch for its global expansion goals. View the full article
(WO) — The 20th annual Women’s Global Leadership Conference in Energy (WGLC) kicked off today with a powerful opening session led by Alexandra “Alie” Pruner, Senior Advisor at Perella Weinberg Partners/TPH&Co. View the full article
Helmerich & Payne, Inc. (H&P) today announced that it has completed its acquisition of KCA Deutag, establishing a global leader in onshore drilling in a deal valued at nearly $2 billion. H&P aims to expand its Middle East presence and strengthen cash flow. View the full article
An average of 13.4 million bpd of crude oil was produced in the United States during August 2024, a new record according to data from the U.S. Energy Information Administration Petroleum Supply Monthly. 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
SLB and Star Energy Geothermal, a subsidiary of Indonesia’s largest renewable energy company Barito Renewables, have announced a collaboration agreement to accelerate advanced technologies for geothermal asset development. View the full article
This is the second in a three-part series exploring the American Petroleum Institute’s (API's) standards development process. World Oil recently spoke with Paula Watkins, API Senior Director of Standards Development, to gain insights into the intricacies of that process, the role of collaboration, and the challenges along the way. View the full article
(Bloomberg) -- Guyana’s oil output dropped 11% in the third quarter as Exxon Mobil Corp. temporarily shut down two of its three production vessels to connect a new gas-to-shore pipeline. View the full article
The Deepwater Development Conference (MCEDD) is pleased to announce the appointment of Sacha Luces, Deepwater Development Manager at Shell, to its Advisory Board for the 2025 event. View the full article
The Texas Independent Producers and Royalty Owners Association (TIPRO) today highlighted new employment figures showing a decline in upstream employment in Texas in the month of November following five months of consecutive growth. View the full article
The American Petroleum Institute (API) has released a statement from President and CEO Mike Sommers on reports the Biden administration will move to ban new oil and natural gas activity across millions of acres of federal waters. View the full article
Sable Offshore Corp. expects maintenance activities for pipeline 324/325 (previously 901/903) to be completed in time for a restart by year's end. View the full article
OPEC trimmed its forecasts for oil demand growth this year and next for a third consecutive month as the group belatedly recognizes a slowdown in global fuel use. View the full article
Following the Board’s strategic endorsement, ADNOC announced the launch of XRG, a groundbreaking international lower-carbon energy and chemicals investment company, with an enterprise value of over $80 billion. View the full article
GeoPark has announced the signing of Sales and Purchase Agreements (SPAs) with Repsol Exploración S.A. and Repsol E&P S.A.R.L to acquire Repsol upstream oil and gas assets in Colombia. View the full article
Nigeria approved Exxon Mobil Corp.’s sale of its onshore oil and gas assets to domestic energy supplier Seplat Energy Plc, but rejected a similar deal by Shell Plc. View the full article
Gradient Geothermal will provide Chord Energy with geothermal power generation and fluid cooling services. This first of its kind deployment of Gradient's technology removes heat from produced fluids and channels those resources to create electricity. View the full article
Crescent Energy Company has announced the signing of a definitive agreement to acquire Eagle Ford assets from Ridgemar Energy for upfront consideration of $905 million plus future oil price contingent consideration View the full article
Transocean Ltd. has secured a $232 million contract with bp for its Deepwater Atlas drillship in the U.S. Gulf of Mexico. View the full article
Kazakhstan is in talks with China about increasing gas exports and is even considering building an additional pipeline to boost flows, underscoring the growing significance of its role in the region’s fuel market. View the full article
Solace Global Risk has officially acquired Nuraling, an independent AI innovation, bringing tailored machine learning solutions to Solace Secure and other services. View the full article
Energy NL has made a submission to the Government of Canada Gazette 1 consultation process, requesting that the federal government abandon its proposed 'Oil and Gas Sector Greenhouse Gas Emissions Cap Regulations.' View the full article
More consolidation in the U.S. shale sector is needed to cope with soaring costs to identify and exploit untapped oil reserves, according to Kimmeridge Energy Management Co. View the full article
(Bloomberg) – Exxon Mobil Corp. has withdrawn from an oil-exploration block off the coast of Suriname, not far from where it discovered more than 11 billion bbls in Guyanese waters. Exxon will transfer its 50% stake in the block to Malaysia’s Petronas, the project operator. 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.
