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BP paid tax on its UK North Sea business in 2021 for the first time in at least six years, according to the company’s latest payments to governments report. View the full article
Oil advanced to the highest in over a month as a combination of declining U.S. petroleum product supplies and signs of stronger demand buttressed expectations for a revival in global consumption. View the full article
“These transactions will contribute to the necessary rationalization of the global drilling rig fleet and they are further in line with Maersk Drilling’s strategic priority of maintaining a fleet of modern, high-quality assets," said CEO Jørn Madsen of Maersk Drilling. View the full article
Covid-19 cases are surging in India and threatening the economy’s recovery from a rare recession, while in Southeast Asia, demand has hit a plateau and is unlikely to reach pre-virus levels until the end of 2021 or later. View the full article
Abu Dhabi’s state oil firm plans to raise $1.64 billion by selling more shares in its fuel retail unit and by issuing bonds, as the emirate taps its energy wealth to attract investment. View the full article
The potential sale could include all of Shell’s 260,000 acres in the Permian Basin, Reuters reported citing unidentified people familiar with the matter. Shell declined to comment on Reuters’ report. View the full article
OPEC+ is heading for a politically consequential showdown with President Joe Biden, as Saudi Arabia and its allies must choose whether to heed American demands for more oil. View the full article
The pipeline at the center of a years-long battle between oil companies and the Standing Rock Sioux tribe may remain in service even though it lacks a valid federal easement for a water crossing in North Dakota, the U.S. District Court for the District of Columbia said Friday. View the full article
“We understand the industry is under political pressure from office-holding authorities and special interest groups, who want us to slow down on oil and gas activities, or change focus entirely to renewables. We cannot ignore this pressure, or the serious threat of climate change," said Equinor’s Executive Vice President, Technology, Arne Sigve Nylund. View the full article
Themed Resilient and ReEnergized, the Noia Oil and Gas Conference 2021 began Tuesday at the St. John’s Convention Centre with a focus on the future, clean technology, and the benefits of local content practices for communities with resource development projects. View the full article
Iran said an attempt by the U.S. government to seize 2 million barrels of oil aboard a Greek-owned tanker was “an act of piracy,” as tensions between Washington and the Islamic Republic show little sign of easing under Joe Biden’s presidency. View the full article
Shale drillers are showing so much financial self-discipline that next year’s oil-production forecasts may be in peril, according to Tudor, Pickering, Holt and Co. View the full article
Federal investigators raided a deep-water oil explorer’s Louisiana office last week as part of a probe into an offshore spill, a rare escalation for a U.S. environmental case. View the full article
Schlumberger’s Digital Forum 2022 is underway today with its first full day of speakers and presentations, following the theme is “Connecting for a New Future.” World Oil is present to bring you updates throughout the week. View the full article
The Senate’s 51-40 vote underscored deep opposition from Republicans who worry Haaland’s criticism of fossil fuels means she will discourage oil development across hundreds of millions of acres of federal land under the Interior Department’s control. View the full article
The largest gasoline pipeline in the U.S. is returning to service, recovering from a cyberattack late Friday that sent pump prices surging and triggered shortages across the Eastern U.S. View the full article
TGS and WesternGeco announced the continuation of their ultra-long offset ocean-bottom node acquisition in Green Canyon, U.S. Gulf of Mexico. Data processing and imaging are by WesternGeco. View the full article
“Our two organizations have worked together side by side for many years on numerous initiatives and global events. Joining forces would bring the best of both organizations together and provide additional value to engineers, geoscientists, and the broader energy sector,” said Rick Fritz, AAPG president. View the full article
The Arctic blast that has wreaked havoc on U.S. energy markets is now poised to reverberate internationally as it slows shipments of liquefied natural gas from the Gulf Coast. View the full article
Hayal Ahmadzada, Socar’s chief trading officer, said the glut of excess oil stocks that built up in 2020 in response to the pandemic will be fully drawn down by the summer. At the same time, soaring prices for steel used in pipes, wells and fittings as well as the high cost of capital for producers will crimp a meaningful supply response by an already hobbled industry even as demand returns. View the full article
Nigeria and Morocco signed an agreement that inches a long-standing proposal for a gas pipeline between the two countries closer to reality, raising the possibility of a new energy-supply route for West Africa and Europe. View the full article
Russia’s Lukoil PJSC is retracting its decision to sell its stake in West Qurna-2 field in the south to Chinese companies, according to Iraqi state-run newspaper Al-Sabah. View the full article
The nation estimates it will need as much as $1.3 billion to buy a 37% stake in the Deep Water Tano/Cape Three Points asset operated by Aker Energy AS and 70% stake of the South Deep Water Tano field operated by AGM Petroleum Ghana Ltd., according to a parliamentary proceeding on Monday. View the full article
Shell Brasil Petróleo, a subsidiary of Shell plc, signed a Production Sharing Contract to acquire a 25% stake of the Atapu field. Shell paid $1.1 billion to Petrobras for the increased stake in the field. View the full article
John Wood Group Plc said it agreed to pay $177 million to settle a UK-led bribery and corruption probe into a British engineering firm it acquired in 2017. 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.