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Soaring energy prices are exacerbating divisions in the European Union as national leaders brace for heated talks about how to protect the most vulnerable and avoid a backlash against the bloc’s ambitious climate change plan. View the full article
Schlumberger and Cognite, two leaders in technology innovation, announced a strategic partnership to integrate Schlumberger’s Enterprise Data Solution for subsurface with Cognite Data Fusion, Cognite’s open industrial DataOps platform. View the full article
Legislation to block oil drilling in most U.S. waters and Alaska’s Arctic National Wildlife Refuge edged closer to passage Thursday, as the House Natural Resources Committee rejected more than a dozen changes sought by Republicans. View the full article
The U.S. Supreme Court ruled that natural-gas pipeline projects with federal approval can seize state-owned land, boosting PennEast Pipeline Co.’s planned 116-mile line through Pennsylvania and New Jersey. View the full article
The culprit behind the latest jump in oil prices isn’t soaring natural gas prices or even OPEC+’s limits on output but rather what is happening at America’s largest oil storage hub in Oklahoma. View the full article
In what appeared to be a very deliberate attempt to inject some reality into the headlong rush toward renewables, Saudi Aramco President and CEO Amin Nasser cautioned the energy industry about making bad choices. View the full article
Libya’s government, National Oil Corp. and protesters have reached an agreement to reopen oil fields and export terminals, officials said. View the full article
Hedge funds and other investors looking to cash in on Brazil’s surging oil and gas output are turning to a new breed of drillers as an alternative to turmoil-wracked Petroleo Brasileiro SA, the state-owned producer that’s had four CEOs since early 2019. View the full article
ConocoPhillips Chairman and CEO Ryan Lance says his challenge in running a premier upstream operator is to keep producing oil and gas efficiently, generate good dividends to shareholders, harness the digital transformation’s benefits and achieve ESG goals—all simultaneously View the full article
As the White House and Congress weigh policy levers to provide relief to consumers from rising gas prices, a proposed ban on petroleum exports has become part of the discussion. A new study indicates that could lead to U.S. gross domestic product falling more than $44 billion in 2023 and more than 110,000 jobs would be lost by the end of 2023. View the full article
Motorists across a broad swath of the U.S. East Coast and South are struggling to find gasoline and diesel as filling stations run dry amid the unprecedented pipeline disruption caused by a criminal hack. View the full article
World Oil and its parent, Gulf Energy Information, are excited to announce the finalists for the 2024 Gulf Energy Information Excellence Awards! Putstanding companies and individuals from ExxonMobil, Woodside Energy, SLB, Halliburton, Baker Hughes, and more have demonstrated exceptional innovation and leadership across the upstream sector. View the full article
The European Union’s drive to slash reliance on Russian natural gas is boosting the strategic importance of finds in Cyprus, the country’s energy minister said. 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
The U.S. Energy Department awarded a second batch of crude oil from the strategic reserve to Marathon Petroleum Corp. as part of the Biden administration’s effort to lower energy costs. View the full article
The United Arab Emirates will use carbon-capture technologies to create what’s known as blue hydrogen on its path to becoming a major exporter of the fuel, Sultan Al Jaber, CEO of Abu Dhabi National Oil Co., said at a virtual conference on Tuesday. View the full article
Oil and gas industry leaders are set to meet with White House National Climate Adviser Gina McCarthy Monday afternoon, as the Biden administration prepares to crack down on greenhouse gas emissions from fossil fuels. View the full article
The project at the Port of Rotterdam could sequester about 2.5 million metric tons of carbon dioxide annually by storing it in depleted gas fields in the seabed. The four companies involved—Shell, Exxon, Air Liquide SA, and Air Products and Chemicals Inc.—will receive state backing for the plan, according to Sjaak Poppe, a spokesman for the port. View the full article
While Chevron has sequestered almost 5 million tons of carbon dioxide at its Gorgon liquefied natural gas export plant in Australia thus far, that volume is short of a target to capture an average 80% of emissions in the first five years of the LNG facility’s operation. View the full article
Oil headed for a fourth weekly gain supported by signs of a tighter market and a wider rally in energy prices. View the full article
European natural gas futures jumped, extending their rebound from last week’s slump, as shipments from Russia fell. View the full article
FireBird Energy has completed an acquisition of operated assets located in the Midland Basin from Chevron U.S.A. Inc. and Chevron Midcontinent, L.P. Leaseholdings included in the transaction total approximately 21,000 acres. View the full article
Boris Johnson said he wants to keep North Sea oil and gas flowing to help tackle the rising cost of living and urged companies to boost investment. View the full article
Oil producer Cenovus Energy Inc. said it may spend hundreds of millions more than planned this year as it absorbs an acquisition in Alberta and restarts an offshore project off the coast of Newfoundland. View the full article
OPEC+ is considering a reduction in its production limit of as much as 2 million barrels a day, although the impact on global supply could be smaller. 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.