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The American Petroleum Institute (API) and American Fuel & Petrochemical Manufacturers (AFPM) released a statement after a meeting that included Secretary of Energy Jennifer Granholm, senior White House officials and leaders of the top U.S. refining companies. 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 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
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
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 head of Vitol Group, the world’s biggest independent oil trader, said global demand has recovered to 2019 pre-pandemic levels and is poised to go even higher early next year. 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
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
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
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
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 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
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
Hydrogen has a crucial role in decarbonizing the world’s energy system, but uptake will be too slow. Governments need to make urgent, significant policy interventions, according to a new report by DNV. View the full article
Baker Hughes has reached a significant technology milestone in pioneering a solution to overcome flexible pipe stress corrosion cracking (SCC) tendencies in high CO2 content fields, such as those found in Brazil’s pre-salt offshore developments. View the full article
As a result of geological exploration and production drilling conducted in 2020, Lukoil added 464 million barrels of oil equivalent to its proved reserves. The largest contribution was made by the assets in West Siberia, Ural region, Timan-Pechora and Russian sector of the Caspian Sea. 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
The indecision had dragged out any real action from the administration as gasoline prices have soared to seven-year highs. It also underscores how the pressure to tamp down inflation has pitted the Biden administration’s own policies on energy, free trade and climate change against each other. View the full article
Processing the high-sulfur crudes produced in the Gulf of Mexico hasn’t been this profitable since 2017, thanks largely to cheap shale gas. View the full article
Oil plunged to the lowest in three weeks alongside a broader market decline with traders also concerned about growing supply from the U.S. and Iran. View the full article
Liberty Lift announced the asset acquisition of Corral Oil Field Services LLC in Andrews, Texas. Corral is a family-owned and -operated artificial lift company specializing in the service, repair, and sale of pumping units and related artificial lift equipment in the Permian basin. View the full article
The sale consists of approximately 78,700 net acres, which are located in the southernmost portion of Hess’ Bakken position and not connected to Hess Midstream infrastructure. View the full article
Reuters reports that oilfield services provider Schlumberger has withdrawn its staff from the Offshore Technology Conference, set to take place in Houston August 16 – 19, in the face of rising Covid infection rates and hospitalizations. 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.