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EOG Resources Inc., one of the biggest U.S. shale oil producers, is ready to ramp up output as soon as this summer if the market demands it. View the full article
Shell Australia and its joint venture partner, SGH Energy, have taken a final investment decision to approve the development of the Crux natural gas field, off the coast of Western Australia. View the full article
With global costs of corrosion estimated at $2.5 trillion, the project aims to significantly enhance detection and monitoring methods of microbiologically influenced corrosion. View the full article
Seatrium Limited has successfully clinched a Favored Customer Contract (FCC) with Hyundai LNG Shipping, marking its first long-term strategic partnership agreement with a leading Korean Liquefied Natural Gas (LNG) company for the repairs and upgrades of its LNG carriers. View the full article
The discoveries include two unconventional oil fields, one light Arabian oil reservoir, two natural gas fields, and two natural gas reservoirs. View the full article
The unity of Arab nations with Saudi Arabia at its nucleus appears to be helping the latter in its determination to cut the crude oil output to compensate for the loss of revenues during the past few months.
Both Iraq and Libya confirmed that they will cut down the output for January and February, mimicking what Saudis did: not only did Saudi Arabia cut the oil output by 1 million barrels per day, but also raised the crude oil price for Asia, something that didn’t go down very well with the
Yemen’s Houthis said they attacked several of Saudi Aramco’s facilities with drones and ballistic missiles on Friday, the latest in a spate of strikes on Saudi Arabia’s oil infrastructure. View the full article
Cabot Oil and Gas Corp. agreed to merge with Cimarex Energy Co., combining two mid-tier shale drillers in an all-stock transaction valued at about $7.4 billion as the U.S. oil and gas sector continues to consolidate. View the full article
British Isles seabed regulator The Crown Estate has confirmed an intention to move forward with the lease process for two 100MW floating wind test and demonstration sites in the Celtic Sea to Llŷr Floating Wind Limited. View the full article
As the global natural gas crunch hits suppliers and consumers alike, OPEC nations are warning of the knock-on impact for oil markets. View the full article
The White House pledged to discuss a key pipeline that carries Canadian crude through Michigan with the northern neighbor, stressing the U.S. isn’t considering a shutdown of the conduit the state’s governor wants shuttered. View the full article
The Government of Newfoundland and Labrador is not allocating funding for the 2022 offshore seismic program and as such, the program will cease for this year. The Newfoundland and Labrador Oil and Gas Industries Association is disappointed with this decision and encourages the Provincial Government to reconsider for this year and to plan an offshore seismic program for 2023. View the full article
Energy Workforce & Technology Council CEO Leslie Beyer responded to House Republicans' six-part energy strategy, saying they applaud the House Energy, Climate, and Conservation task force for bringing the focus back to an 'emissions reduction' strategy. View the full article
The forecast fell £1.5 billion to £44.5 billion last year – contributing to a total cut of £15 billion since 2017, when the North Sea Transition Authority introduced a baseline estimate of £59.7 billion and set a target of reducing costs by 35% to £39 billion by end-2022. View the full article
Wednesday’s ruling by a judge in Fort Worth, Texas, will allow Exxon to pursue claims that Arjuna abused the shareholder vote process by buying minimal shares to campaign for proposals that “are calculated to diminish the company’s existing business.” View the full article
OEUK warned many of the industry’s skilled people and investors remain deeply concerned about Labour proposals for a further windfall tax on homegrown oil and gas production and to end new oil and gas licenses in UK waters. OEUK says such measures would not create the investment conditions the UK needs to deliver the homegrown energy transition needed to kickstart economic growth. View the full article
China’s quick recovery from Covid-19 means that its demand for oil and gas has fully recovered from the pandemic-induced swoon of early 2020, and President Xi Jinping continues to make energy security a top priority. View the full article
Shell Oil Company has reached an agreement for the sale of its interest in Deer Park Refining Limited Partnership, a 50-50 joint venture between Shell Oil Company and P.M.I. Norteamerica, S.A. De C.V., a subsidiary of Pemex, for a total consideration of $596 million. View the full article
Proserv Controls has secured a significant contract to manufacture and deliver 22 wellhead control panels to the Basra Oil Company for use on the Majnoon Oil Field in southern Iraq. View the full article
4Subsea, a leading provider of digital technology and services to the energy and maritime sector, has successfully completed more than 300 measurement campaigns across the North Sea following the launch of its digital twin technology, significantly increasing uptime and mitigating risk during well operations. View the full article
Railroad Commission of Texas Chairman Wayne Christian passed a resolution urging President Joe Biden and the U.S. Congress not to include anti-oil and -gas policies in the congressional reconciliation bill known as the "Build Back Better" act. View the full article
A rally in oil prices lifted U.S. energy stocks to the highest since the pandemic emerged more than two years ago. View the full article
There may never be a new refinery built in the US despite surging gasoline prices as policymakers move away from fossil fuels, according to Chevron Corp. View the full article
As oil prices continue to linger around the $100-plus/bbl price, mergers and acquisitions in the sector have been pushed to a three-year high, as well as private equity deals that may experience a record year. View the full article
Equinor has exercised an option for a batch of eight wells to extend the use of the Odfjell Drilling’s Deepsea Aberdeen on the Norwegian Continental Shelf. The exercised options are planned to start in Q4 2025. The options have a value of approximately $121 million. 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.