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The International Energy Agency, the U.S. Energy Information Administration and the Organization of Petroleum Exporting Countries all say that global oil demand will continue to recover through to at least the end of next year. But there is some disagreement on the paths it will take to get there. View the full article
Greenland's government “has decided to cease issuing new licenses for oil and gas exploration,” it said in a statement. “This step has been taken for the sake of our nature, for the sake of our fisheries, for the sake of our tourism industry, and to focus our business on sustainable potentials.” View the full article
Oil fell for a second day after a surprise jump in U.S. gasoline stockpiles tempered signs that the American market has returned to robust health. View the full article
Uganda is exploring options to cut reliance on Kenya for petroleum imports by reviving shipments through Tanzania, a move that potentially jeopardizes business for its neighbor’s Mombasa port. View the full article
While gasoline and diesel demand have returned to pre-pandemic levels, a surge in petroleum use for products such as plastic, asphalt, lubricants and other industrial needs is propelling the recovery. View the full article
The United Arab Emirates has resolved its standoff with OPEC+ and reached a compromise deal that will give it a new output quota, said a delegate. View the full article
Oil prices climbed as the International Energy Agency warned of a deepening supply crunch. View the full article
The American-made pump, built with quality and efficiency in mind, features a flow rate of more than 1000 gpm, making it suitable for demanding HDD projects. View the full article
Capturing greenhouse gas emissions and burying them underground is one way the world is hoping to slow global warming. It also could be a money-maker for the oil and gas firms developing the technology. View the full article
The transaction will include all of Oryx’s Permian assets and, with the exception of Plains’ long-haul pipeline systems and certain of its intra-basin terminal assets, the vast majority of Plains’ assets located within the Permian Basin. View the full article
Vard Electro has been awarded a contract for an innovative hybrid battery power system with Atlantic Towing to be integrated on their vessel Atlantic Shrike. Atlantic Towing is the first company to implement this multiple mode application of battery technologies on a single vessel in the Canadian offshore oil and gas industry. View the full article
ABB’s new online platform Ability Marine Fleet Intelligence – Advisory combines the power of cloud-based analytics and reporting with user-friendly visualizations to help shipowners, managers and charterers optimize ship performance fleet-wide. View the full article
One week after OPEC and its allies abandoned their meeting in acrimony, the window for an August oil-production increase is closing without any deal in sight. View the full article
Oil edged lower as traders grappled with the demand implications of a Covid-19 resurgence in several regions and slowing economic growth in China. View the full article
Israel Shipyards Ltd. announced its agreement with Chevron (Noble Energy Mediterranean Ltd.) for performance of a 16-month coating program for its Offshore and Onshore assets. View the full article
This carbon emissions assessment is expected to be the most comprehensive testing of real-time well stimulation operations performed within the industry to date, with independent third-party testing to be performed for each of these technologies during Seneca’s field operations. View the full article
The Biden administration is preparing to release a blueprint for limiting sales of U.S. drilling rights as rising oil and gasoline prices highlight the risks of curtailing domestic crude production. View the full article
Australia will challenge a court ruling that orders the government to consider climate change impacts from a planned coal mine expansion, a decision seen as clouding the prospects for any new fossil fuels projects. View the full article
Bahrain needs crude prices above $88 a barrel to balance its budget this year, according to the International Monetary Fund, the highest breakeven price in the six-member Gulf Cooperation Council and far above current levels around $75. View the full article
To achieve the goal announced last month, about half of the emission cuts would need to come from capturing carbon at oil sands sites and sequestering it deep underground, which may require as much as two-thirds government capital like in Norway, Mark Little, chief executive office of Suncor Energy Inc., said in an interview. View the full article
Oil companies will produce 20,000 barrels a day more than previously forecast for this year, at 11.1 million barrels, the Energy Information Administration said in a report on July 7th. View the full article
Texas Governor Greg Abbott is pushing regulators to strengthen incentives for fossil fuel and nuclear power generators in an effort to avoid a repeat of deadly blackouts seen this winter. View the full article
Biden administration officials are “encouraged” by ongoing OPEC talks and have spoken with officials in Saudi Arabia and the United Arab Emirates in hopes of reaching an agreement to stem the rise in crude prices, White House Press Secretary Jen Psaki said. View the full article
Favorable hedge positions represent the biggest test yet of shale’s newfound resolve to act with discipline and focus on investor returns, and avoid a return to the relentless pursuit of growth. View the full article
Rally-to-rout oil price gyrations show how the cartel’s internal rifts threaten the stability of the global economic recovery amid concerns about inflation, and tarnished the group’s self-image as a reliable steward of the oil market. 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.