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Bilfinger will perform inspection services on the offshore assets of Total EandP (Exploration and Production) Denmark. The €40 million ($48.6 million) contract will be booked under Bilfinger’s Engineering and Maintenance Europe segment. View the full article
Global oil use dropped by 9 million barrels a day last year but should recoup more than 6 million in 2021, said Mike Muller, head of trader Vitol SA’s operations in Asia. View the full article
Russia defied expectations of a collapse in oil production following its invasion of Ukraine. But Moscow will have to redouble its efforts to find new buyers if it’s to keep output from shrinking in the coming months. View the full article
Total and Microsoft have agreed to collaborate as strategic partners to further digital transformation and support progress toward net-zero emissions. View the full article
The aim of the collaboration is to explore safe implementation of potential new technologies, working jointly with relevant governmental agencies to promote the introduction of hydrogen as an energy source in the Singapore market to support the country’s decarbonization goals. View the full article
BP’s energy transition plan will receive a boost from rising oil prices, and the company is already winning back investors after a difficult year, Chief Executive Officer Bernard Looney said. View the full article
Commenting on the passage of the bill, American Petroleum Institute President and CEO Mike Sommers said “At a time when energy prices have risen alongside broader economy-wide inflation, the House reconciliation bill would only exacerbate the challenges facing Americans." View the full article
Crude production in the Permian basin will reach 4.466 million barrels a day in May, the most in a year, and rig counts have touched a one-year high, according to the latest data from the Energy Information Administration. View the full article
A new kind of power plant that doesn’t add greenhouse gases to the atmosphere is being built in the U.S., potentially providing a way for utilities to keep burning natural gas without contributing to global warming. View the full article
While the Biden administration promises to create millions of jobs on the march to carbon-neutral energy, the work that will be created won't look, or pay, like that with which oil and gas crews are accustomed. View the full article
The Energy Information Administration forecasts U.S. crude oil production in the U.S. Federal Gulf of Mexico to increase in the next two years, according to the latest Short-Term Energy Outlook. By the end of 2022, 13 new projects could account for about 12% of total GOM crude oil production, or about 200,000 barrels per day. View the full article
The session will be at least the second meeting this year between top API executives and White House National Climate Adviser Gina McCarthy, who is coordinating the Biden administration’s efforts to clamp down on greenhouse gas emissions from the use of fossil fuels. View the full article
The Biden administration called on OPEC countries and U.S. regulators to do more to ensure a stable energy supply, with a specific focus on retail gasoline prices that the President pledged to keep affordable. View the full article
Citizens for Responsible Energy Solutions Executive Director Heather Reams commended the formation of a Republican climate task force in Congress. View the full article
Aramco is looking to work with China on blue hydrogen and ammonia, synthetic fuels and carbon capture utilization and storage, Nasser said at the China Development Forum in Beijing. “All of these are essential to achieving our long-term, low-carbon ambitions,” said Aramco CEO Amin Nasser. View the full article
The Commission and Breakthrough Energy Catalyst, a program founded by Gates, want to muster the funding in 2022-2026 to build large-scale, commercial-demonstration projects that will deliver significant reductions in carbon dioxide. View the full article
The prince's plan to diversify the economy of the world’s largest crude exporter spans more than 10,000 square miles in a remote area of Saudi Arabia's northwest. It’s described on its website as “a bold and audacious dream” that will become a hub for new technologies and businesses. View the full article
“The offshore oil and gas industry continues to receive broad support across Newfoundland and Labrador and I believe this can be attributed to the value it provides our province and country in tangible terms of well-paying jobs, royalties and benefits to help pay for public services," said Charlene Johnson, Noia CEO. View the full article
Despite volatility in global oil markets, U.S. crude oil exports reached a record high in 2020, maintaining momentum in 2021 with crude oil exports reaching 3.00 million barrels per day (bpd). View the full article
The Abu Dhabi National Oil Company (ADNOC) announced it has successfully implemented an innovative initiative to drive efficiencies in its tendering process. This program supports ADNOC’s ongoing efforts to enhance its approach to procurement and maximize value for ADNOC and its community of suppliers and service providers. View the full article
Expro Group and Frank's International announced a definitive agreement under which the companies will combine in an all-stock transaction. Upon the closing of the transaction, Expro shareholders will own approximately 65% of the combined entity, with Frank's shareholders owning approximately 35%. View the full article
Oil jumped the most since mid-April amid broader market gains and after a U.S. government report showed declining fuel and distillate stockpiles during the high-demand summer driving season. View the full article
A new supercycle in global oil prices could be triggered by a lack of new investments in exploration, Saudi Arabia’s energy minister said. View the full article
Hedge funds and other investors looking to cash in on Brazil’s surging oil and gas output are turning to a new breed of drillers as an alternative to turmoil-wracked Petroleo Brasileiro SA, the state-owned producer that’s had four CEOs since early 2019. View the full article
Biden administration officials are “encouraged” by ongoing OPEC talks and have spoken with officials in Saudi Arabia and the United Arab Emirates in hopes of reaching an agreement to stem the rise in crude prices, White House Press Secretary Jen Psaki said. 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.