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OPEC and its allies recommended proceeding with plans to gently revive oil production as global demand recovers from the pandemic, despite surging infections in India. View the full article
Global oil consumption will continue to outstrip supply in 2022 as the economic recovery from the pandemic boosts fuel consumption, while investment in new crude production is crimped by environmental concerns, the bank said in a report. View the full article
A new study concluded that more than 2 million metric tons (MT) per year of CO2 can be removed from the atmosphere and injected safely into the earth at two ethanol plant sites in California. The study was commissioned by Aemetis, Inc., a renewable natural gas and renewable fuels company focused on below zero carbon intensity products. View the full article
Occidental Petroleum Corp. agreed to sell its stakes in two Ghanaian oil fields for $750 million, ending a two-year divestment effort aimed at cutting debt. View the full article
U.S. natural gas collapsed to the lowest level in more than four months as record-high temperatures kill heating demand ahead of winter. View the full article
Devon Energy Corp., one of the biggest oil explorers in the Permian Basin, is getting into the sand business to combat rising costs. View the full article
CGG announced today that Sercel, its Sensing & Monitoring division, was selected as the successful bidder for the acquisition of ION Geophysical Corporation’s (ION) software business. View the full article
From Saudi Arabia to West Texas, drillers are pumping more oil to cash in on a scorching price rally. But a region that’s home to a fifth of the world’s crude reserves is mostly missing out. View the full article
While the usual differences between Russia and Saudi Arabia are present, all sides are ready to increase production, putting OPEC on track to implement the majority of the 1.5 million barrels per day output increase that’s up for debate on Thursday. View the full article
Chesapeake Energy Corp. is searching for its next chief executive officer after the sudden departure of Doug Lawler less than three months on from the company’s exit from bankruptcy and as speculation continues to swirl about consolidation in the U.S. shale industry. View the full article
Odfjell’s WindGrid is a solution for providing an uninterrupted power supply from Mobile Offshore Wind Units to micro-grids. It combines energy storage, grid converters and floating wind turbines in order to enable gas turbine generators to be shut down during peak wind power production. View the full article
Endangered desert fish would get millions of dollars in federal funding, while oil companies would face new fees and a ban on most offshore drilling under a plan floated by House Democrats. View the full article
Senator Joe Manchin has told the White House and congressional leaders that he will not support including a key clean-power provision in the Democrats’ spending package, putting at risk a central element of the legislation designed to fight climate change, according to a person familiar with the matter. View the full article
The Biden administration’s efforts to lower energy costs takes a step forward Monday, with bids due for the first 32 million barrels of crude planned for release from federal stockpiles. View the full article
Talos has taken a leadership role in the developing market for global emissions reductions, but additional CCS capacity is required to meet global emissions reductions and climate objectives. View the full article
Norway approved higher production from key natural-gas fields in an effort to maintain record exports as Europe reels from cuts in Russian supply. View the full article
The state-owned Nigerian National Petroleum Company recently became NNPC Limited, a commercial venture. Rather than operating as a government entity, with all of the red tape and inefficiencies that went with it, the company’s focus has been shifted to productivity and earning profits. View the full article
The leaders of Saudi Aramco and Chevron see the market for oil and gas improving this year, with some momentum in the back half. But that outlook is tempered by the fact that the pandemic has forced some changes to the way that business is conducted. View the full article
Analysis from Westwood Global Energy Group indicates offshore wind energy projects final investment decisions (FIDs) will grow by 57% in the next year. View the full article
Oil held near $72 a barrel as inconclusive nuclear talks between world powers and Iran -- which has elected a new hardline president -- allayed prospects for a swift revival of the Islamic Republic’s crude exports. View the full article
OPEC and its allies are expected to press on with their planned revival of oil production when they meet next week, as prices bounce back from their August stumble. View the full article
Venezuela intelligence police have transferred the six Citgo Petroleum Corp. executives who where under house arrest to its headquarters, lawyers for the men said. View the full article
The 23rd World Petroleum Congress got underway in Houston Monday, with over 5,000 participants from over 70 countries attending in person in the energy capital of the world. View the full article
Oxford Flow, flow control equipment specialist for oil, gas, industrial process and water industries, has been awarded the Albert Woelfel Best Mechanical Engineering Achievement Award by the American Society of Mechanical Engineers at OTC for its ES axial flow valve. View the full article
Through the agreement, Longboat farmed-in to two near-term, gas weighted exploration prospects on the Norwegian Continental Shelf targeting combined gross unrisked mean prospective resources of 223 MMboe. 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.
