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Output from the Organization of Petroleum Exporting Countries slumped by 480,000 bpd in September, according to a Bloomberg survey. Libyan production plunged by 38% as after one of its rival governments halted exports in a fight for control of the central bank. View the full article
Baker Hughes has reached a significant technology milestone in pioneering a solution to overcome flexible pipe stress corrosion cracking (SCC) tendencies in high CO2 content fields, such as those found in Brazil’s pre-salt offshore developments. View the full article
State-controlled National Iranian Oil Co. has been priming oil fields -- and customer relationships -- so it can increase exports if an accord with the U.S. is clinched. But even if a deal is struck, the flow of additional crude into the market may be gradual. View the full article
OPEC's deal will will ease a looming crude supply squeeze and reduce the risk of an inflationary oil price spike by increasing output each month beginning in August. View the full article
The Energy Workforce and Technology Council elected new officers and industry leaders during its Annual Meeting, held in Santa Ana Pueblo, NM. View the full article
Shale driller Diamondback Energy Inc. is bracing for a 10% jump in costs next year amid supply-chain snarls rippling through the oil industry. View the full article
Oil drillers in the biggest U.S. fields are shouldering record costs at the same time that some banks are increasingly reluctant to loan money to the sector, according to the Federal Reserve Bank of Dallas. View the full article
The FPSO Atlanta, contracted by Enauta to Yinson for conversion to service the Atlanta Field offshore Brazil, will be operated under ABS Class. View the full article
Neptune Energy has begun drilling on the Ofelia exploration well in the Norwegian sector of the North Sea, the company announced. View the full article
Lisa Edvardsen Haugan has been appointed as the new President of Kongsberg Maritime, the largest business area of KONGSBERG. She takes the helm after Egil Haugsdal. View the full article
U.S. Energy Development Corporation (U.S. Energy) is expanding its operations in the prolific Permian basin. U.S. Energy is poised for significant growth and development in one of the most productive oil and gas regions in the United States. 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
OLT Offshore LNG Toscana announced that the extraordinary maintenance activities of the FSRU Toscana terminal have been successfully completed. View the full article
The Republic of Congo (ROC) is preparing a new Gas Code to incentivize investment across the natural gas value chain. Concurrently, the country is preparing to launch its Gas Master Plan (GMP), serving as a roadmap for investing in the ROC’s gas sector. View the full article
The twin suicide bombings in Baghdad, the Iraqi capital, once again shows the vulnerability of the oil-rich nation in a perpetually volatile region, especially when the West started gradually pulling out its troops.
Although Iraqi leadership talks with pride about the country being free from foreign interference, the situation on the ground is far from being conducive for it – judging by the daily protests by the people over corruption, mismanagement, lack of basic care and of course, deter
The combined portfolio brings OSIsoft’s world-class data management together with AVEVA’s leading industrial software to unlock Performance Intelligence. View the full article
“These transactions will contribute to the necessary rationalization of the global drilling rig fleet and they are further in line with Maersk Drilling’s strategic priority of maintaining a fleet of modern, high-quality assets," said CEO Jørn Madsen of Maersk Drilling. View the full article
Iran plans to ship a cargo of oil from a port in the Gulf of Oman next week, its first crude export from outside the Persian Gulf and beyond the narrow, crisis-prone Strait of Hormuz. View the full article
FPSO Sepetiba will be deployed at the Mero field in the Santos Basin offshore Brazil, 180 kilometers offshore Rio de Janeiro. View the full article
Russia’s Nord Stream 2 may need a few more months to clear remaining red tape before the controversial pipeline begins pumping natural gas to Germany to help ease Europe’s energy crunch. View the full article
Kuwait’s candidate to take over as OPEC’s top diplomat has widespread support from the group’s members, delegates said. View the full article
Some EU leaders are leaning toward a deal that would ban seaborne oil while temporarily sparing deliveries through a key pipeline to give landlocked Hungary more time. View the full article
Aquaterra Energy has been awarded a high-pressure high temperature subsea riser contract with oil and gas operator, Umid Babek Operating Company (UBOC), for the exploration of its HP well on the Babek project in Azerbaijan. View the full article
Petrofac has officially taken over operatorship of the Northern Endeavour FPSO facility on behalf of the Australia Government, marking a major milestone in the landmark decommissioning contract. View the full article
Under the multi-year services frame agreement, Baker Hughes will provide spare parts and field service resources for onsite turbomachinery equipment maintenance and upgrades, equipment refurbishment and advanced digital asset performance services. 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.
