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Growth in the world’s demand for oil is expected to slow in the coming years, as energy transitions advance. At the same time, global oil production is set to ramp up, easing market strains and pushing spare capacity toward levels unseen outside of the Covid crisis, according to the Internaional Energy Agency’s (IEA) new oil market outlook. View the full article
The scope of work is focused on two FPSO (floating production, storage, and offloading) units, namely Greater Plutonio and PSVM. The work comprises engineering, procurement, and construction services (EPC) of the brownfield maintenance and modifications scopes. View the full article
ADNOC Drilling Company PJSC and Alpha Dhabi Holding PJSC’s joint venture Enersol RSC LTD has agreed to acquire an additional 42.206% equity stake in Gordon Technologies LLC for approximately $270 million, making Enersol the majority equity holder. View the full article
The addition will mean Vista has two fracking crews and related equipment in operation. The company is aiming to raise production 55% to the equivalent of 85,000 bpd by the fourth quarter, and start production on 138 new oil wells by 2026 in an effort to reach 100,000 bpd. View the full article
Oceaneering is contracted to supply up to 362 km, or approximately 225 miles, of steel tube and thermoplastic electro-hydraulic umbilicals and associated subsea distribution hardware for use in projects offshore Brazil. View the full article
Eni has embarked on a reorganization to help fund its transition to gas and renewable energy. Chief Executive Officer Claudio Descalzi is pursuing a “satellite model,” which entails listing divisions or partnering with external investors to develop them. View the full article
‘Logging While Drilling’ (LWD) and wireline logging data have indicated that several oil-and-gas-bearing sandstones have been encountered within the targeted Middle Miocene turbidite sequences. View the full article
Deltic considers it “unlikely” that Selene will require further appraisal prior to field development planning commencing and could be brought into production “relatively quickly” following discovery given the proximity of existing infrastructure. View the full article
The Sangomar Field Development Phase 1 features the Léopold Sédar Senghor FPSO, named after the first president of Senegal, which is moored approximately 100 km offshore Senegal, with a nameplate capacity of 100,000 bpd. View the full article
World oil consumption will see a year-on-year increase of 2.3 MMbpd in the second half, about 150,000 bpd more than during the first, amid continued economic growth in China and other emerging economies, OPEC said in a monthly report. View the full article
The addition will mean Vista has two fracking crews and related equipment in operation. The company is aiming to raise production 55% to the equivalent of 85,000 bpd by the fourth quarter, and start production on 138 new oil wells by 2026 in an effort to reach 100,000 bpd. View the full article
The FEED work will be based on the scope of the Unit Development Plan approved by the Mexican Hydrocarbon Commission (CNH) last year. It covers the planning of two offshore platforms, 68 km of pipelines and cables as well as a new onshore facility, fully dedicated to the Zama project, located in the Dos Bocas Maritime Terminal, in Paraiso, Tabasco. View the full article
The report, Connected Digital Twin Insights: Rising to the Challenge across the UK Energy Sector and Beyond, explores the opportunities, benefits, barriers, and risks of connected digital twins in the UK energy sector and looks for the answer to a fundamental question – “How can I trust my digital twin?” View the full article
This initiative will rejuvenate the remaining 2D and 3D data in Liberia's prospective Liberia and Harper basins. The project will integrate existing legacy datasets to create a unified velocity model in depth, utilizing cutting-edge imaging algorithms to produce the final migrated seismic data. View the full article
Sintana Energy Inc. has closed its acquisition of an initial 49% interest in Giraffe Energy Investments (Pty) Ltd. Giraffe is the owner of a 33% interest in Petroleum Exploration License 79, which governs blocks 2815 and 2915, located inboard of blocks operated by BW Energy, Rhino Resources and Shell. View the full article
Despite signals indicating the job market is beginning to flatten, the oil field services sector remains a vital component of the national economy, showcasing resilience amid broader economic fluctuations. While the national economy added a better-than-expected 272,000 jobs in May, the unemployment rate experienced a slight increase to 4%. View the full article
Three development wells are planned to be drilled, completed and put on production over the next months. Production is then planned to be evacuated via a 24-inch subsea multiphase line to the existing Vega Pléyade platform 35 km from Fénix, and from there to the Rio Cullen facilities at shore. View the full article
Baker Hughes’ integrated approach will deploy wireline, coiled tubing, cementing, tubular running, wellbore intervention, fishing, and geosciences services in all of Petrobras’ offshore fields. The agreement also includes Baker Hughes remedial tools, completion fluids and production chemicals. View the full article
Together, bp and Worley will deepen collaboration across a portfolio of site projects by leveraging digital capability and global scale to further drive efficiency across engineering, procurement, construction development and management. View the full article
The combined company will boast the biggest selection of latest-model drillships that carry a pair of so-called blowout preventers, a key safety item for drilling in water more than two miles deep. View the full article
Shelf Drilling, Ltd. has secured a 15-month award for the Shelf Drilling Tenacious jack-up rig for drilling operations offshore West Africa. View the full article
The Nigerien nationals, who worked for the local affiliate of China National Petroleum Corp., were at Benin’s Sèmè Kpodji port to control the loading of crude for export, the ruling junta known as Council for the Safeguarding of the Homeland, said in a statement late Saturday. View the full article
Drilling in the U.S. shale patch dropped to the lowest level in almost two-and-a-half years as operators vow to make good on promises to investors for subdued production growth this year. View the full article
The Nigerien nationals, who worked for the local affiliate of China National Petroleum Corp., were at Benin’s Sèmè Kpodji port to control the loading of crude for export, the ruling junta known as Council for the Safeguarding of the Homeland, said in a statement late Saturday. 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.
