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Global deepwater spending by oil producers is forecast to grow to an average of $79 billion in 2026 and 2027, according to Noble, citing research from Rystad. That would be a 20% hike from the average annual amount between 2023 and 2025. View the full article
Saipem’s scope of work encompasses the engineering, procurement, fabrication and installation of six platforms as well as approximately 100 km of corrosion resistance alloy rigid subsea pipelines of 28’’ and 24’’ diameter, 100 km of subsea composite cables, 150 km of fiber optic cables and several other subsea facilities. View the full article
This collaboration enhances geocentric data interpretation, improves cross-discipline communication, and sharpens subsurface insights, driving faster, more precise decision-making. The result is increased drilling efficiency, innovation, and collaboration for superior well performance. View the full article
Unify is a new-generation digital platform and is the first plunger lift controller in the ChampionX SMARTEN automation product family. It harnesses the latest AI, IoT, and wireless technologies for edge device automated operations and “live” visibility into plunger cycle behaviors via high-frequency data captured at one-second intervals. View the full article
Block 14 and Block 15 were part of the Suriname Shallow Offshore 2 Bid Round 2023-2024. The blocks are in the eastern part of the Suriname-Guyana basin and border Block 52, where oil and gas discoveries have previously been made. Block 14 has water depths of 50 to 75 m, and Block 15 from 75 to 150 m. View the full article
Set to face a shortfall of natural gas at the start of next year, Colombia’s hopes are riding on the future potential of its deepwater wells. Ecopetrol’s offshore chief, Elsa Jaimes, said in an interview last month that production from Caribbean waters could come online as early as 2029, depending on approvals from local communities and securing environmental licenses. View the full article
The Texas Alliance of Energy Producers (the Alliance) board of directors has appointed Karr Ingham as the organization’s new president, effective July 1, 2024. View the full article
The Independent Petroleum Association of America (IPAA) applauds the Senate's passage of the Royalty Resiliency Act, aimed at addressing outdated federal land reporting processes and streamlining royalty payments for oil and gas producers. View the full article
Tecnimont (MAIRE Group) has entrusted Tenaris with the supply of more than 24,500 tons of seamless pipes for a major gas project located in North Africa, designed to bolster energy security in Europe. View the full article
Tecnimont (MAIRE Group) has entrusted Tenaris with the supply of more than 24,500 tons of seamless pipes for a major gas project located in North Africa, designed to bolster energy security in Europe. View the full article
At the Asia Pacific Petroleum Conference in Singapore this week, traders were generally bearish, with many predicting oil prices could drop to $60 per barrel, despite Brent crude falling below $70, according to Rystad Energy. View the full article
bp has chosen ABS to support its deepwater Kaskida project in the Gulf of Mexico. ABS will provide classification and engineering verification for the project's new semisubmersible production unit. View the full article
Diamondback Energy announced that it has closed its merger with Endeavor Energy Resources, the company said on Sept. 10. View the full article
Transocean Ltd. has secured a $232 million contract with bp for its Deepwater Atlas drillship in the U.S. Gulf of Mexico. View the full article
ADNOC has signed a long-term Heads of Agreement with IndianOil for 1 million metric tonnes per annum of liquefied natural gas (LNG) from its Ruwais LNG project in Abu Dhabi. View the full article
The groups argue that this ruling threatens U.S. energy security, potentially disrupting a crucial source of oil and natural gas. They warn it could lead to job losses, reduced state and local revenues, and negatively impact energy affordability amid ongoing inflation and geopolitical tensions. View the full article
by extending safe operating windows, Akselos can help operators avoid over $100 million in lost production by potentially avoiding unnecessary dry dock. The software also allows FPSO operators to extend the operational life of assets by removing unwanted and overly conservative fatigue estimates, powered by the Akselos RB-FEA technology. View the full article
The 225,000 bpd Almirante Tamandare production vessel is on route and set to arrive in Brazil this year, and a similar unit is near completion at a Chinese shipyard and will arrive in 2025. SBM is also waiting for Petrobras to re-launch a tender for two FPSOs for an offshore project in the Sergipe-Alagoas basin. View the full article
The Crown Prince of Abu Dhabi has endorsed his state-owned energy company, Abu Dhabi National Oil Company (ADNOC), endorsed the company's innovative Artificial Intelligence and Digital Technology (AIDT) strategy, ENERGYai. View the full article
Personnel have been evacuated from a total of 171 production platforms, 46% of the 371 manned platforms in the Gulf of Mexico. Evacuations have also commenced from three non-dynamically positioned rigs, equivalent to 60% of the five rigs of this type currently operating in the Gulf. A total of four DP rigs have moved off location out of the storm’s path as a precaution. This number represents 20% of the 20 DP rigs currently operating in the Gulf. View the full article
Harris twice invoked the surge in U.S. crude and natural gas production in the televised proceedings — a striking embrace of the nation’s fossil fuel output for a candidate who more often touts her green credentials and history of attacking the oil and gas industry as California’s top prosecutor. View the full article
Exxon Mobil Corp.’s top executive vowed to sue more activist investors if they continue to “abuse” the proxy voting process, just months after a lawsuit against Arjuna Capital LLC was dismissed by a federal judge. View the full article
The properties are located in the Central Basin Platform, Texas and New Mexico Shelf, and Northwest Shelf, and currently represent estimated net production of 21,000 boed, of which approximately 57% is oil. View the full article
Based on the report from its Vienna-based research department, the restart ought to be urgently needed. OPEC’s data suggest that world inventories should be depleting rapidly now and — unless the group opens the taps — face a substantial shortfall of more than 3 MMbpd in the fourth quarter. View the full article
Based on the report from its Vienna-based research department, the restart ought to be urgently needed. OPEC’s data suggest that world inventories should be depleting rapidly now and — unless the group opens the taps — face a substantial shortfall of more than 3 MMbpd in the fourth quarter. 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.
