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OPEC sees oil demand continuing to grow to the middle of next decade, even as world leaders prepare for another attempt to avert catastrophic climate change. View the full article
Oil edged up after the Energy Information Administration said the impact of a potential release from U.S. emergency crude reserves would only be short-lived. View the full article
DTEK CEO Maxim Timchenko said the Ukrainian people and armed forces of Ukraine have demonstrated persistent and strong resistance in facing the Russians, while DTEK Group has made its contribution to a Ukrainian victory. View the full article
Sabinal Energy, an oil producer backed by Kayne Anderson, is divvying up roughly 132,000 net acres in the Permian Basin for a sale of the company that could fetch more than $1 billion. View the full article
The World Oil judging team selected finalists for each of the 18 categories from a pool of 303 nominations. The winners will be announced at the 2022 World Oil Awards ceremony on Oct. 13 in Houston, Texas. View the full article
Chesapeake Energy, the once-iconic energy explorer that helped ignite the American shale-gas boom, is emerging from bankruptcy protection a shadow of its former self. And in a way, that’s just fine with its boss. View the full article
French oil major Total SE must continue to produce gas in Myanmar and pay taxes to the military junta to protect staff from forced labor and maintain electricity supplies, Chief Executive Patrick Pouyanne said in an op-ed in Le Journal du Dimanche newspaper. View the full article
Futures in New York climbed past $67 a barrel, putting crude on track for a second straight monthly gain. OPEC and its allies are expected to stick with a decision to boost output in July when the group gathers Tuesday. View the full article
West Texas Intermediate futures slumped 1.9%, after retreating 4.6% in the previous two sessions. The delta strain of Covid-19 has been detected in almost half of China’s 32 provinces in just two weeks, and at least 46 cities have advised residents not to travel unless strictly necessary. View the full article
At an open meeting of the Railroad Commission of Texas, Commissioner Wayne Christian was unanimously elected Chairman for a second time. View the full article
Global oil prices may rise to as high as $120 by the middle of next year as the ability of OPEC+ to meet demand is at risk from under-investments and sanctions, according to a Rosneft PJSC executive. View the full article
A hydrogen economy that runs factories and power plants on the clean-burning fuel may be years down the road, but that hasn’t stopped U.S. states from jockeying for a share of the $8 billion in federal funds earmarked for so-called hydrogen hubs. View the full article
TotalEnergies SE became the first foreign company to win a stake in a multibillion-dollar project to boost Qatar’s gas exports. View the full article
Exxon Mobil Corp. renewed two deepwater leases in Nigeria for 20 years, among the first permits granted under the country’s new oil and gas law. View the full article
Texas’s energy regulator is taking an uncharacteristically critical approach toward burning off excess natural gas, a sign that growing pressure from environmentalists and investors to curb the controversial practice is paying off. View the full article
Crude has rallied this year as vaccine rollouts help major economies reopen. The decision by the Organization of Petroleum Exporting Countries and its allies was seen as a vote of confidence in the outlook for energy demand. The U.S. also added more than 900,000 jobs in March, the most in seven months. View the full article
The coalition led by Saudi Arabia and Russia believes that the glut created during the pandemic has nearly gone, and that oil stockpiles will diminish rapidly in the second half of the year as lockdowns ease and travel gathers pace. View the full article
The high-performing electric frac solution reduced emissions for Chesapeake by 32% and applied over 25 megawatts of lower-carbon power generation by leveraging Chesapeake’s local field gas network. View the full article
Tracerco has been commissioned to provide asset integrity data for an operator in the Gulf of Mexico seeking to extend the life of over 18 of their risers. View the full article
President Joe Biden has been weighing the merits of releasing oil from the Strategic Petroleum Reserve to try to quell gasoline prices. A release by China was raised by the U.S. during this week’s virtual summit with President Xi Jinping, the South China Morning Post reported, citing an unidentified person. View the full article
Some of the worst fire conditions in a decade are going to sweep across Texas and the southern Great Plains, threatening key shale-oil fields, slaughterhouses and farms. View the full article
BP sold out of Canada’s oil sands, divesting its stake in the Sunrise project to Cenovus Energy Inc. while acquiring offshore exploration from the same company in the east of the country. View the full article
Phase 2 of project approvals is great boost to jump start carbon capture, but all projects are needed if UK is to meet climate goals, industry body OEUK says. View the full article
Equinor has agreed to divest its interests in the Bakken field in the US states of North Dakota and Montana to Grayson Mill Energy, backed by EnCap Investments, for a total consideration of around USD $900 million. View the full article
Imports jumped 5.8% in March from a year earlier, the biggest increase since March 2020. Demand for the fuel used in heating and power generation had been steadily growing before Covid-19, as nations shift away from coal-fired power over climate concerns. 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.
