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Schlumberger and NOV announced a collaboration to accelerate automated drilling solutions adoption by oil and gas operators and drilling contractors. The agreement will enable customers to combine Schlumberger surface and downhole drilling automation solutions with NOV’s rig automation platform to deliver superior well construction performance. View the full article
The news follows Friday’s announcement by Equinor ASA — Norway’s biggest oil and gas company — that it’s scrapping plans to develop a pipeline to transport hydrogen to Germany due to a lack of customers, supply and an adequate regulatory framework. View the full article
Russian Finance Minister Anton Siluanov warned the Kremlin needs to brace for falling revenues after a stress test showed the global clean energy push could lead to a significant decline in demand for fossil fuel exports. View the full article
Centennial Resource Development Inc., a shale oil producer in the Permian Basin, agreed to acquire private equity-backed rival Colgate Energy in a cash-and-stock deal valued at about $2.5 billion. View the full article
(WO) — One of the more interesting and thoughtful panel sessions last week at Schlumberger’s Digital Forum in Luzern, Switzerland, was focused on the Energy Transition. The discussion of what should be done and how to do it, along with who should lead the way, was far-ranging. View the full article
ADNOC Gas has signed a 14-year sales and purchase agreement (SPA) with Indian Oil Corporation for the export of up to 1.2 million tonnes per annum (mtpa) of liquefied natural gas (LNG) to India’s largest integrated and diversified energy company. View the full article
Executives from Exxon Mobil, Chevron, Royal Dutch Shell and BP were urged by U.S. lawmakers to abandon the leading oil-industry trade group, and cut off funds to any groups sowing doubts about climate science. View the full article
Iran warned that proposed U.S. legislation targeting the Islamic Republic could further imperil stalled Biden administration efforts to resurrect the moribund nuclear deal. View the full article
The agreement’s scope is to deliver human resources solutions for Repsol’s multi-disciplinary resourcing needs in areas such as drilling and wells, geology and subsurface, HSE, logistics, operations, maintenance, decommissioning, administrative support and cost control. View the full article
Oil rebounded after a U.S. government report showed rapidly declining inventories and record-high fuel demand in the midst of the peak summer travel season. View the full article
As U.S. House Democrats inch closer to striking a deal on a massive Budget Reconciliation package with their counterparts in the Senate, it is important to note the potential implications for jobs in the upstream sector of the U.S. oil and gas industry. View the full article
Woodside Petroleum Ltd. almost certainly won investor approval to boost global oil and gas production by adding BHP Group assets while also facing a rebuke on its climate accounting. View the full article
The new build FSO, based on a Suezmax-type hull, will be equipped with a Disconnectable Turret Mooring (“DTM”) system designed by SBM Offshore. The FSO will be moored in water depth of about 2,500 m and will be able to store around 950,000 bbl of crude oil. View the full article
The scope covers a complete subsea production system including four horizontal subsea trees, three manifolds, control systems, three static subsea umbilicals, as well as associated tie-in equipment and installation work. View the full article
The latest data from the group indicate that the world will continue to face an oil supply deficit in the coming months even as its members revive idle production. View the full article
Wood has further strengthened its position as the leading partner for operations solutions in the UK North Sea following a series of contract awards with key clients in the fourth quarter of 2021, including Shell UK and Dana Petroleum. View the full article
Oil majors that want to reduce their carbon footprint will have to shift their activities to energy basins where drilling rigs can be powered by renewables and which have ample space for carbon sequestration, a report indicates. View the full article
The Biden administration’s plan to crack down on smog in the oil-rich Permian Basin threatens to curb crude production while gasoline prices are near record highs and energy scarcity grips the globe, the industry warned Thursday. View the full article
The interest and investment in the hydrogen sector shows there is real progress being made in renewables, and that despite current market challenges, hydrogen will play a major role in global energy in the near future. View the full article
Kongsberg Maritime has secured a substantial contract to provide an integrated package of electrical, control, safety and propulsion systems for the Golar Mk2 Floating Liquified Natural Gas (FLNG) project. View the full article
Former German Chancellor Gerhard Schroeder is quitting his post as chairman of Russian state-owned oil company Rosneft PJSC after widespread calls for him to cut ties to Russian President Vladimir Putin over the invasion of Ukraine. View the full article
The Railroad Commission of Texas assessed $2,308,419.00 in fines involving 656 enforcement dockets against operators and businesses at the Commissioners’ Conference on Tuesday. View the full article
Expro has won a contract valued at over $10 million for the provision of a well decommissioning solution. The solution combines subsea safety systems and surface processing design to enable both safe well entry and effective fluids management. View the full article
“This bill is at fundamentally at odds with the president’s commitment to repeal fossil fuel subsidies,” said Erich Pica, president of Friends of the Earth. “This is a failure of climate leadership that will not soon be forgotten.” View the full article
The former chief of BP Plc warned that investors are pushing environmental, social and governance concerns aside as fears about energy security and mounting costs take precedence. 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.
