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The unprecedented oil inventory glut that amassed during the coronavirus pandemic is almost gone, underpinning a price recovery that’s rescuing producers but vexing consumers. View the full article
Norway, Western Europe’s biggest oil producing nation, plans to expand its green energy industry and strengthen its power grid, but isn’t willing to budge when it comes to exploiting its oil and gas resources. View the full article
ConocoPhillips is marketing its Williston Basin oil assets for a potential sale, according to people with knowledge of the matter. View the full article
Qatar, the world’s biggest exporter of liquefied natural gas, said it’s “unhappy” prices are so high but is producing at maximum capacity. View the full article
OPEC and its allies will discuss their response to the Omicron variant of the coronavirus at their meeting this week, although their knowledge of the potential impact on oil markets remains limited. View the full article
European Commission President Ursula von der Leyen warned companies not to bend to Russia’s demands to pay for gas in rubles, as the continent scrambles to respond to Moscow’s move to start switching off supplies. View the full article
The Ministry of Petroleum of the Republic of Niger announced the country has reached a new milestone in furthering the regional gas market through the progressing construction of the multi-billion Trans-Saharan Gas Pipeline alongside Algeria and Nigeria. View the full article
Zephyr Energy plc, the Rocky Mountain oil and gas company focused on responsible resource development from carbon-neutral operations, continues to prepare for extended production testing of its successfully drilled and completed State 16-2 LN-CC well. View the full article
BP will spend about $1.3 billion to build a network of pipelines and other infrastructure to collect and capture natural gas produced as a byproduct from oil wells in the Permian Basin of Texas and New Mexico, the Wall Street Journal reported. View the full article
Prince Abdulaziz bin Salman has battled to keep short-sellers at bay for more than a year, famously warning speculators in September not to bet against him, and more recently lambasting the view that the world should stop investing in oil to protect the climate. View the full article
The new service expands the depth detection range and improves resolution compared to existing services, while utilizing cloud and digital solutions to offer reservoir insights. View the full article
TotalEnergies announces deployment of an innovative technology developed by Qnergy, to significantly reduce methane emissions related to its operations on the Barnett gas field in the United States. View the full article
Energy producers -- not the transition to a greener economy -- are a key reason for soaring natural gas and power prices in Europe, according to International Energy Agency Executive Director Fatih Birol. View the full article
European gas prices surged more than 20% as Russia’s Gazprom PJSC confirmed that it halted gas flows to Bulgaria and Poland, saying it will keep supplies turned off until the two countries agree to Moscow’s demand for rubles -- a dramatic escalation with Europe as its invasion of Ukraine presses forward. View the full article
The American Bureau of Shipping has launched detailed requirements for greener offshore operations in the first sustainability guide to target the offshore industry. View the full article
Deb Haaland’s assurances during her nomination hearing appeared to provide little comfort to Senate Republicans, who argued that the Democratic lawmaker’s criticism of fracing, support for pipeline protesters and endorsement of the Green New Deal make her unfit for a job that includes overseeing energy development on federal land. View the full article
Equinor announced that starting in 2022 it will submit its energy transition plan for advisory vote to shareholders at its Annual General Meeting. Equinor will update the plan every three years for an advisory vote. Progress on the plan will be reported annually. View the full article
Environmentalists emboldened by this week’s defeat of Keystone XL are pressuring President Joe Biden to revoke permits for other oil and gas pipelines, warning their votes depend on the administration blocking fossil fuel infrastructure. View the full article
ABS has brought together leading companies in the Floating Production Storage and Offloading (FPSO) sector to address the safety challenges produced by a fleet where more than half of the ship type vessels are over 30 years old, and a quarter are over 40 years old. View the full article
Oil in New York held above $80 a barrel on expectations that a power crisis from Asia to Europe will continue to lift demand, prompting banks to boost their price forecasts. View the full article
Nordic oil producer Lundin Energy AB is exploring a potential sale that could rank as one of the largest European oil and gas deals in years, people with knowledge of the matter said. View the full article
ExxonMobil announced three new discoveries offshore Guyana which will increase the estimate of the recoverable resource of the Stabroek Block to nearly 11 billion oil-equivalent barrels. View the full article
Horisont Energi and Neptune Energy announced the signing of a Memorandum of Understanding to develop the Errai Carbon Capture and Storage project in Norway. View the full article
Without Keystone XL, rail will become a more important way for Canadian oil to reach U.S. Gulf Coast refineries, which need the heavy crude to replace declining supplies from Mexico and Venezuela. And more rail traffic means greater derailment risk. View the full article
The contract is expected to commence in the first half of 2022, with a firm duration of 110 days. The value of the firm contract is approximately USD 34m, including rig modifications and a mobilization fee. 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.