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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
Subsea7 has secured a contract in the U.S. Gulf of Mexico for an offshore project involving the installation of critical subsea infrastructure. 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
The American Petroleum Institute (API) released a new poll conducted by Morning Consult that reveals strong support among swing state voters for policies that promote domestic oil and natural gas production, while limiting reliance on foreign energy sources. View the full article
Kent and the Energy Institute have announced a collaboration to create comprehensive guidelines for the economics of decarbonization in greenhouse gas (GHG) emission reduction projects within the upstream oil and gas sector. View the full article
The slowdown in production outside OPEC+, particularly in the U.S., is expected to narrow the global oil market surplus in 2025, though production will still outpace demand. View the full article
Avance Gas holding Ltd., whose largest shareholder is Norwegian shipping billionaire John Fredriksen, said it has agreed to sell its entire fleet of very large gas carrying ships to BW LPG Ltd. View the full article
Canada’s new green technology fund is putting as much as $100 million into a carbon-capture firm that’s backed by Chevron Corp. to help it commercialize its technology. View the full article
Offshore oil contractor Borr Drilling Ltd. expects almost a third of the world’s fleet of shallow-water rigs to be retired in the coming years because of their age, leading to higher daily leasing rates. View the full article
Mach Natural Resources LP has announced its second-quarter results, showcasing solid upstream performance while adjusting its 2024 operational plans. The company also divested a portion of its Western Anadarko acreage for $38 million. View the full article
Seatrium Limited has successfully delivered its fourth jackup rig, named "Vali," to Borr Drilling, about a year ahead of the planned delivery date. The project was completed on an accelerated schedule, highlighting Seatrium's ability to execute major projects efficiently and on budget. View the full article
TDI-Brooks has successfully completed a geotechnical coring project for Geohidra in the Southern Gulf of Mexico. The operation, conducted aboard the MV Laguna Azule, involved thirty-two cone penetration tests using the Neptune 3000 system. View the full article
Shell has approved a final investment decision for a waterflood project at its Vito asset in the Gulf of Mexico. The project involves injecting water into the reservoir to increase oil extraction and is set to begin in 2027. View the full article
The recent Central Atlantic wind lease sale has generated nearly $93 million for two lease blocks. This sale, covering areas off Maryland, Delaware, and Virginia, demonstrates significant growth in the U.S. offshore wind sector. View the full article
The Department of the Interior has issued final guidance for states on applying for the first $775 million in grant funding available this year to address orphaned oil and gas wells under President Biden’s Bipartisan Infrastructure Law. View the full article
India’s Swan Energy Ltd. plans to sell its stake in a floating liquefied natural gas (LNG) terminal to Turkey’s state-run Botas for $399 million. View the full article
As Australia shifts towards renewable energy, optimizing existing gas production fields remains crucial to meeting rising global energy demands. View the full article
U.S. presidential candidate Kamala Harris faces a problem in Washington County, Pennsylvania, where gas drilling rigs and well pads dot the rolling green farmland. View the full article
Some shale producers are seeking deals even as the biggest names in oil and gas, Exxon Mobil Corp. and Chevron Corp., remain on the sidelines digesting their mega mergers after a blistering run. View the full article
Germany will scrutinize an application to drill for natural gas at a protected marine site after explorer One-Dyas BV cleared a key hurdle with local authorities. View the full article
Petroleos Mexicanos has reached a deal with an oilfield-services provider to drill in the Gulf of Mexico as the heavily indebted state energy company turns to the private sector to boost crude production. View the full article
Inclusion in MSCI indexes provides greater visibility among global investors and increases the credibility of the stock in financial markets. Inclusion of the ADNOC Drilling stock is expected to boost liquidity, given the expected passive inflows as well as potential appetite from active institutional investors tracking MSCI indexes. View the full article
The newly named Seatrium New Energy Laboratory will continue to drive innovation, focusing on addressing challenges related to new energies, offshore renewables, marine decarbonization, and digitalization within the Offshore & Marine (O&M) industry. View the full article
In 2019, BEAC took several measures to restrict the flow of foreign currency. The intention was to tackle the problems of low foreign exchange reserves, capital flight, money laundering, and terrorism funding. However, these regulations have only served to kill business in the region — particularly for the energy industry. View the full article
The subsea market segment, which includes players involved in production and processing systems such as subsea umbilical risers and flowlines (SURF), trees, wellheads, manifolds and other components, is poised to experience a significant influx of capital, according to Rystad Energy. 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.
