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Oil demand by 2050 will be “well north” of 100 MMbpd and possibly exceed 110 MMbpd, CEO Greg Ebel said Tuesday in an interview at Bloomberg’s New York headquarters. That contrasts with an International Energy Agency projection that demand will decline to 97 MMbpd by mid-century. View the full article
Engineering work for the Kaskida FPU has already begun, with Audubon designing the topside and EXMAR Offshore designing the hull. View the full article
TotalEnergies CEO Patrick Pouyanne — whose company, alongside APA Corporation, is moving to develop deepwater drilling sites that hold close to 700 MMbbl of oil — said Suriname will make a “significant” contribution to the group’s cash flows as oil revenues start flowing in 2028. View the full article
The properties up for sale produce over 22,000 boed, with oil making up about 60% of this production. The drilling locations include properties on the Northwest Shelf, the Northern Shelf, and the Central Basin Platform in New Mexico and Texas. View the full article
OceanMight announced the sail-away of three topsides and three substructures for the MLNG FaS project. The development includes the F22,F27, and Selasih gas fields offshore Malaysia. View the full article
The agreement is targeting at least 5 MMtpa of CO2 capture and storage capacity by 2030. Its scope includes a CO2 shipping and logistics study, geophysical and geomechanical modelling, reservoir simulation and containment research while exploring the application of advanced technologies, including artificial intelligence (AI), to enhance storage capacity. View the full article
Arbol Grande is a construction and subsea vessel, delivered in 2003 with specifications tailor made for the Mexican market. The vessel has been used as an accommodation and topside maintenance support vessel for several IMR contracts involving saturation- and air diving, as well as other light construction support operations. View the full article
Williston operators have executed about 15% more refracs than those in the Eagle Ford. While results vary, EIR finds that average refracs in the Williston produce about 50% of new drill estimated ultimate recovery (EUR), outperforming the Eagle Ford’s roughly 25%. View the full article
OceanMight announced the sail-away of three topsides and three substructures for the MLNG FaS project. The development includes the F22,F27, and Selasih gas fields offshore Malaysia. View the full article
The platform is the heaviest and most powerful China-made international offshore oil and gas platform in Qingdao, Shandong. View the full article
QB Energy is acquiring the producing upstream assets, gathering and compression midstream assets and all other assets owned by Caerus in the Piceance basin. Koda is taking a similar set of assets owned by Caerus in the Uinta basin. View the full article
These platforms will enable SLB to achieve comprehensive security across its network, cloud and edge platforms, enabling thousands of domain and AI users on SLB’s Delfi digital platform to collaborate in a safe and secure environment. View the full article
Advances in the development and miniaturization of wearable biosensor technologies have introduced new possibilities for individualized heat stress management in the oil and gas industry. View the full article
The first three of the seven Nong Yao C development wells were opened up for oil production on Aug. 15, 2024, with additional wells to be brought online successively thereafter. Valeura intends to sustain Nong Yao production rates at approximately 11,000 bpd for the remainder of the year 2024. View the full article
This digital twin can increase production by roughly 1%. After two years of tests, the technology developed by the Brazilian company ESSS, based in Florianópolis (Santa Catarina), was validated and is ready for use. View the full article
Staatsolie believes that Block 59 has “enormous investment and risk” opportunities, as the area sits in close-proximity to other highly-anticipated deepwater finds and in part of the greater Guyana-Surniame basin. The offshore region is quickly becoming the most-watched oil and gas development, as it boasts billions of barrels of recoverable resources. View the full article
The Scarborough Energy Project has all primary environmental approvals in place, and offshore work is progressing well. The Federal Court proceedings sought an injunction to stop offshore activities for the Scarborough Energy Project. The parties have agreed to seek orders from the Court to dismiss the proceedings. View the full article
Argo Cassiopea plays a central role in Eni's strategy to increase the use of domestic natural gas for energy security and as a low-emission source. Argo Cassiopea's reserves are estimated at around 10 Bcmg, with peak annual production expected to 1.5 Bcmg. View the full article
Autry Stephens, the petroleum engineer raised on a Texas peanut and watermelon farm who became the richest U.S. oilman, has died. He was 86. View the full article
Turkey, seeking to extend its influence in Africa and strengthen energy security, will send the 86 m long research vessel Oruc Reis to explore offshore oil and gas blocks belonging to Somalia next month. View the full article
Turkey, seeking to extend its influence in Africa and strengthen energy security, will send the 86 m long research vessel Oruc Reis to explore offshore oil and gas blocks belonging to Somalia next month. View the full article
Saudi Arabia is expected to put less money into the oil industry than initially predicted in its goal to invest $1 trillion in strategic sectors by the end of the decade. View the full article
The Railroad Commission of Texas (RRC) has imposed more than $2 million in fines on operators and businesses for violations within the state's oil and gas industry. View the full article
MOL Pakistan has announced three new gas discoveries in the TAL Block through the Razgir-1 exploratory well. View the full article
A second liquefied natural gas tanker left an export terminal in northern Russia that’s subject to U.S. sanctions, ship-tracking data show. 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.
