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Shale executives have dramatically dialed back their oil-price expectations over the past three months as recession risks weigh on the market, according to the latest energy survey by the Federal Reserve Bank of Dallas. View the full article
Granite Ridge acquired 51 gross (4.7 net) future drilling locations for $12.6 million. The estimated future development costs for the acquired properties is $50 million. The acquisitions include assets in the Midland, Delaware, DJ, Williston and Appalachian basins. View the full article
Enbridge Inc. said it will continue to ship crude through its Line 5 pipeline that crosses the Great Lakes, despite Michigan Governor Gretchen Whitmer’s deadline Wednesday to shut the conduit. View the full article
Annual methane emissions stemming from oil and gas production operations in the Permian basin decreased 26% in 2023 from the previous year, according to a new analysis by S&P Global Commodity Insights. View the full article
Expanding opportunities within Mozambique’s oil and gas sector are strengthening ExxonMobil’s commitment to local content investments, said Armando Afonso, Public & Government Affairs Manager, ExxonMobil Mozambique at a recent roundtable. View the full article
Rising global oil prices are translating into shortages at the pump in cash-strapped Lebanon, with motorists lining up for hours to fill their tanks in the latest blow to living standards in the Middle Eastern nation. View the full article
The OU team designed and proposed a system to repurpose six abandoned oil and gas wells in Shawnee, Oklahoma, to provide clean, renewable geothermal energy for more than 730,449 square feet of educational and municipal buildings. View the full article
OPEC+ has begun discussions about lowering oil output when it meets next week, as a fragile global economy continues to weigh on crude prices. View the full article
The offshore gas platform was reportedly utilized for GPS spoofing to disrupt civilian navigation. A Ukrainian Navy spokesman emphasized that the platform was not in civilian use, and no civilians were present at the time of the attack. View the full article
Vantage Drilling announced it has entered into a marketing agreement with Eldorado Drilling AS to market the seventh-generation Dorado Drillship for drilling opportunities in various locations in Africa, the Mediterranean, Asia and Australasia. View the full article
The largest gasoline pipeline in the U.S. is returning to service, recovering from a cyberattack late Friday that sent pump prices surging and triggered shortages across the Eastern U.S. View the full article
Russia’s crude oil and condensate output jumped in the first weeks of September as some of the nation’s key producers ramped up in line with the OPEC+ deal and Gazprom PJSC recovered from a fire at a facility in West Siberia. View the full article
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Transocean Ltd. announced a 365-day contract extension for the Deepwater Asgard with an independent operator offshore the U.S. in the Gulf of Mexico. The program is expected to commence in direct continuation of the rig’s current program and is estimated to contribute approximately $188 million in backlog, including additional services.
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The Onshore Block 2, located within the Al Dhafra region of Abu Dhabi covering an area of over 7300 km2, is PETRONAS Abu Dhabi’s third concession, following the Unconventional Block 5 in 2024 and the Unconventional Block 1 in 2022. View the full article
Former President Donald J. Trump will be President again, come Jan. 20, 2025, after his historic comeback win in the U.S. presidential election of Nov. 5, which extended into the wee hours of Nov. 6. View the full article
Falcon Oil & Gas Ltd. has announced that the Shenandoah S2-4H horizontal well was successfully drilled, cased and cemented to a measured depth of 6,452 meters (21,169 feet) in exploration permit 98 in the Beetaloo Sub-basin. View the full article
Saudi Aramco’s venture arm has invested in UK-based Ori, an AI cloud startup backed by Spanish telecom giant Telefonica SA as it seeks to drive the kingdom’s push to become an artificial intelligence hub. No financial terms were disclosed. View the full article
A new company soon to be created by Chrysaor Holdings Ltd and Premier Oil Plc will likely retain its stake in the giant Zama oil development in Mexico, reversing an earlier decision by the indebted North Sea driller to exit the project. View the full article
TotalEnergies, OML99 operator (40%) in partnership with the Nigerian National Petroleum Corporation (NNPC, 60%), has announced the start of production from the Ikike field, in Nigeria. View the full article
Seatrium has signed a contract with BP Exploration and Production Inc (bp) to perform engineering, procurement, construction and onshore commissioning (EPC) work for the Kaskida Floating Production Unit (FPU) project in the U.S. Gulf of Mexico. View the full article
Kuwait has opened its first permanent facility to import liquefied natural gas, as oil-rich Persian Gulf states accelerate efforts to wean their power plants off crude and use cleaner forms of energy. View the full article
OPEC delivered barely half the oil-production increase it had planned for October as African members continued to struggle with output losses. View the full article
Cold-stricken Europe is drawing a flotilla of U.S. liquefied natural gas cargoes amid an energy crisis that has sent gas prices to record levels. View the full article
With six blocks under exploration and another licensing round underway, The Gambia is following on the heels of both Senegal and Mauritania as the MSGBC region embraces the boom of a revitalized oil and gas industry. 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.
