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Exxon Mobil is pulling out of a deep-water oil prospect in Ghana just two years after the west African nation ratified an exploration and production agreement with the U.S. oil titan. View the full article
With more consolidation brewing in the largest U.S. oil patch, the boss of one of the largest independent shale producers says he’s not interested, and warned that investors are still skittish about deals. View the full article
Drawing on this longstanding cooperation and aiming to support the goals of the Paris Agreement, Equinor and Rosneft will join forces to develop low carbon solutions and reduce the carbon footprint from joint projects. View the full article
The United Arab Emirates will accelerate $20 billion of natural-gas projects by awarding contracts for some of them in the coming days, as it seeks to boost exports of the fuel. View the full article
U.S. crude output will grow at a more diminished pace than previously expected as shale producers grapple with higher production and labor costs amid rampant inflation. View the full article
Subsea Integration Alliance is a worldwide non-incorporated alliance between Subsea 7 and Schlumberger’s OneSubsea subsea technologies, production and processing systems business. View the full article
Cosmo will invest as much as $145 million in the exploration phase at Offshore Block 4, government-owned ADNOC said Wednesday in a statement. Abu Dhabi holds most of the oil in the United Arab Emirates, the third-largest producer in OPEC. View the full article
Following concerns that it is facilitating the sale of meaningless carbon credits to corporate clients, the Nature Conservancy says it’s conducting an internal review of its portfolio of carbon-offset projects. View the full article
A bleak assessment of Iran’s nuclear transparency cast a pall over months of arduous diplomacy aimed at restoring its atomic accord with world powers that has major implications for Middle Eastern security, global business and oil markets. View the full article
West Texas Intermediate futures tumbled 3.4% to close at the lowest in more than two weeks. The delta variant of Covid-19 has been detected in almost half of China’s 32 provinces in two weeks, and at least 46 cities have advised residents against non-essential travel. View the full article
A long-delayed Enbridge Inc. pipeline extending from Canada’s oil sands to the U.S. Midwest will enter service Friday after years of opposition from environmentalists and indigenous groups. View the full article
KFX CO2 simulation software is being developed by DNV and Equinor to increase safety in carbon capture and storage. View the full article
Some of the largest firms are already voluntarily divulging their greenhouse-gas emissions, but the lack of government regulation and unified reporting underscores the challenges investors face when comparing inconsistent data across companies. View the full article
Kent, an integrated energy services company, says it had a positive start to 2022 with some strategic project wins across the globe adding a total of over $550 million to the company’s backlog. View the full article
After the U.S. House of Representatives passed the Inflation Reduction Act, National Ocean Industries Association President Erik Milito said the bill secures some key priorities for long-term American energy security. View the full article
The next monthly meeting of the OPEC+ on March 4, is going to be crucial for the oil price in particular and the economies of the world regardless of their strength in general.
At present, the factors which are always in favour of steady oil price are active and in full swing: the inventory draws are significant; China has been importing crude oil at an increased pace and so has India; Covid-19 vaccines bring in new hope for controlling the pandemic.
In this context, OPEC+ can play the
The Wärtsilä system will enable a subsidiary of RWE Renewables, Hickory Park Solar, LLC, to sell nearly 200 MW of generation from the solar PV panels to Georgia Power Company. View the full article
A robust recovery in the U.S. and Europe has given OPEC+ the confidence that markets can absorb additional barrels, despite the prospect of more supply from Iran should a nuclear deal be revived, and a Covid-19 comeback in Asia, most notably India. View the full article
China is renewing restrictions and canceling flights as a Covid-19 resurgence in Asia’s top oil consumer sends jitters across the crude market. View the full article
A key driver for achieving this milestone is increased demand for flare gas to power projects, as well as Aggreko’s innovative approach to monetizing stranded gas assets. View the full article
The Biden administration is selling drilling rights across the Gulf of Mexico on Wednesday in an auction that will test the oil industry’s appetite amid White House efforts to shift away from fossil fuels. View the full article
Drilling permits for new wells have spiked to unprecedented levels in the Permian Basin, signaling crude oil suppliers in America are finally responding to higher prices. View the full article
Fairfield Energy announced the end of an era with the removal of the topsides from Dunlin Alpha. This is the latest milestone in the decommissioning of the four fields which make up the Greater Dunlin Area. View the full article
While the Inflation Reduction Act takes important steps toward new oil and gas leasing and investments in carbon capture and storage, it falls well short of addressing America’s long-term energy needs and further discourages needed investment in oil and gas, API said. View the full article
The Texas Railroad Commission is taking action to prioritize natural gas supplies to support electricity generation, as the state faces multiple days of record cold temperatures. 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.
