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Secretary Granholm proposed a progressive agenda for energy research and innovation, to help the Biden Administration achieve net zero greenhouse gas emissions by 2050, and carbon/pollution-free energy generation by 2035. View the full article
European energy markets from natural gas to carbon permits jumped to records, signaling the supply shortage will get worse just as the winter season starts. View the full article
EIA expects that the United States will import more crude oil to fill the widening gap between refinery inputs of crude oil and domestic crude oil production in 2021 and 2022. U.S. crude oil production declined by an estimated 0.9 million bpd (8%) to 11.3 million bpd in 2020 because of well curtailment and a drop in drilling activity related to low crude oil prices. View the full article
Seismicity reviews are conducted by the Underground Injection Control Department for injection/disposal well permits in areas susceptible to earthquakes and in certain geologic zones. View the full article
Shell Global Solutions and Baker Hughes have signed a broad strategic collaboration agreement to accelerate the global energy transition by helping each other achieve their respective commitments for net-zero carbon emissions and advancing solutions to decarbonize energy and industrial sectors. View the full article
India's oil minister and the Organization of Petroleum Exporting Countries’ top official publicly jousted over the cartel’s policy shift at a conference hosted by the Atlantic Council on Tuesday. View the full article
A new supercycle in global oil prices could be triggered by a lack of new investments in exploration, Saudi Arabia’s energy minister said. View the full article
Chesapeake Energy Corp. said its assets in the Eagle Ford Shale have drawn a “tremendous amount of interest” as the U.S. company pursues a sale in order to become a pure-play natural gas producer. View the full article
Chesapeake Energy said three executives are leaving, marking the latest shakeup of the senior ranks at the Oklahoma oil and gas producer since it emerged from bankruptcy four months ago. View the full article
The Arctic blast gripping the central U.S. may threaten crude exports from one of the world’s top producers, amid rapidly-normalizing global stockpiles that point to the success OPEC has had in draining a surplus left in the wake of the pandemic. 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
Total SE is evacuating most of the remaining employees from its liquefied natural gas project in northern Mozambique as insurgents attacked a town nearby, throwing Africa’s biggest private investment into disarray. View the full article
Titan Division of Hunting Energy Services announced an exclusive licensing agreement with Nammo Defense Systems Inc. for the manufacture of time delay fuses for Hunting’s perforating applications. View the full article
Shell Egypt and one of its affiliates have signed an agreement with a consortium made up of subsidiaries of Cheiron Petroleum Corporation and Cairn Energy PLC to acquire Shell’s upstream assets in Egypt’s Western Desert. View the full article
China made an unprecedented intervention in the global oil market, releasing crude from its strategic reserve for the first time with the explicit aim of lowering prices. View the full article
Employment in the U.S. oilfield services, and equipment sector rose by an estimated 4,774 jobs to 628,793 in May, according to preliminary data from the Bureau of Labor Statistics and analysis by the Energy Workforce & Technology Council. View the full article
Baker Hughes has been awarded two contracts from ADNOC this week for equipment and services across multiple upstream fields and projects in the United Arab Emirates. View the full article
Offshore drilling company Valaris Limited and the Valaris Group announced the company emerged from Chapter 11 bankruptcy at the end of April. View the full article
BP’s board urged shareholders to reject a climate resolution filed by Dutch activist investor Follow This, despite pledging to work with the group last year to draft such a proposal. View the full article
EnergyFunders announced the opening of a new fund, Yield Fund II, available to accredited investors. The company is building upon the recent success of Yield Fund I - its largest fundraising effort to date. View the full article
Oil retreated after hitting $75 a barrel in London for the first time in more than two years, as Russia and other OPEC+ nations were said to consider increasing production. View the full article
Energy and marine consultants AqualisBraemar LOC has completed its assignment in connection with the decommissioning and removal campaign of the Sable Project off the coast of Nova Scotia, Canada. View the full article
Noble Corporation and Pacific Drilling Company have entered into a definitive merger agreement under which Noble will acquire Pacific Drilling in an all-stock transaction. View the full article
North America’s biggest oil pipeline company, which for years has invested in wind and solar power projects, is also looking at gaining scale and becoming competitive in technologies such as hydrogen production using renewable electricity. View the full article
As the U.S. experiences two straight quarters of negative GDP growth, which meets the common definition of recession, Railroad Commission of Texas Chairman Wayne Christian said high taxes, unnecessary regulations, and irresponsible deficit spending is what caused the mess we are in. 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.