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Canadian Trade Minister Mary Ng said she is focusing her efforts with the new Biden administration on mutual U.S.-Canada interests despite early policy hiccups that risk further fracturing ties between the two nations, whose commercial relationship is worth $725 billion a year. View the full article
VARD has secured contracts for the design and construction of three Service Operation Vessels (SOVs) for North Star Renewables in Scotland. The state-of-the-art hybrid trio will operate on the Dogger Bank Wind Farm in the North Sea. View the full article
Abu Dhabi is weighing the sale of a stake in its biggest utility as the oil-rich emirate seeks more international investment in its marquee assets, people familiar with the matter said. View the full article
Zephyr Energy, the Rocky Mountain oil and gas company focused on responsible resource development, announced an increase in its operated land position through the acquisition of an additional 1,920 acres in the Paradox Basin, Utah. View the full article
Chevron's investment in Ocergy, Inc. is part of a $300 million-a-year plan to foster early-stage technologies that may play a future role in the energy transition. View the full article
The pipeline, which will carry Canadian oil-sands crude from Alberta to Superior, Wisconsin, has faced fierce opposition from indigenous and environmental groups, who clashed with law enforcement last week. View the full article
President Biden's focus on fiscal spending, a probable lack of urgency in lifting sanctions on Iran and restrictions on the North American energy industry all combine to support oil prices, Goldman Sachs analysts wrote in a note dated Jan. 21. View the full article
BHP has long said the oil business was one of its strategic pillars, and argued that it will make money for at least another decade. But as the world tries to shift away from fossil fuels, the company wants to avoid getting stuck with assets that become more difficult to sell, according to insiders. View the full article
While the Suez blockage is complicating trade, a long-term realignment of global crude flows has seen westbound shipments from Persian Gulf producers fall, limiting the impact on oil prices. View the full article
Biden’s administration is dramatically curtailing U.S. public land available for new oil and gas development as it seeks to impose more environmental protections and financial limitations on the activity. View the full article
The global oil market is calling out for a substantial increase in supplies, but OPEC+ is expected to provide only a fraction of what consumers are demanding. View the full article
Baker Hughes and Horisont Energi AS have signed a memorandum of understanding for the Polaris carbon storage project off the northern coast of Norway. Under the agreement, the two companies will explore the development and integration of technologies to minimize the carbon footprint, cost and delivery time of carbon capture, transport and storage (CCTS). View the full article
Iraq’s oil ministry took the unusual step of saying it’s in talks with U.S. companies about the possibility of them buying Exxon’s 32.7% stake in the field in southern Iraq, near the city of Basra. View the full article
The company will sell most of its non-operated upstream assets in the UK central and northern North Sea to NEO Energy, according to a statement Wednesday. NEO is an oil producer backed by Norwegian private equity firm HitecVision AS. View the full article
With winter fast approaching and a stunning energy price surge pummeling Europe, Russian President Vladimir Putin chose an opportune moment to use his country’s leverage as an oil and gas superpower. View the full article
Transocean announced that BOE Exploration and Production awarded Transocean a $252 million firm contract for its newbuild ultra-deepwater drillship, the Deepwater Atlas, including a mobilization fee of $30 million. View the full article
In spite of the rise in oil price, defying the forecasts that said otherwise, Saudis have been urging the members of the OPEC to be cautious.
We do not know for sure whether the Saudis knew the dip in price this week in advance – by instinct or from a model that the rest of the analysts are not aware of.
Up until this week, Saudi Arabia got it calculations right and they deserve the credit for it: their strategy worked perfectly well and OPEC members could breathe a long, collective s
A U.S. government report showed domestic crude inventories fell by 5.89 million barrels last week, the biggest decline in two months, bringing nationwide supplies to the lowest since late February. A gauge for gasoline demand ticked higher for a seventh straight week. View the full article
The Railroad Commission of Texas will soon begin plugging more wells to continue its strong track record of plugging abandoned oil and gas wells in Texas. View the full article
Sercel and Kappa Offshore Solutions introduced PIKSEL, a compact marine seismic solution specially designed for acquiring seismic data for high-resolution 3D imaging of targeted offshore areas. View the full article
The decline in DUCs in most major U.S. onshore oil-producing regions, especially in the Permian region, reflects more well completions and, at the same time, less new well drilling activity. 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
Shale drilling in North America is going to slow down in the second half of the year from its breakneck pace as explorers cling to promises of austerity, according to Baker Hughes. View the full article
The natural gas industry should receive tax incentives similar to those provided for renewable energy projects, according to one of Texas’s top oil and gas regulators. View the full article
Russian tanker operator Sovcomflot PJSC is set to close its Cyprus-based payment center as a result of sanctions imposed on Russia for its invasion of Ukraine, according to people familiar with the matter. 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.
