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Petroleos Mexicanos is replacing its finance chief as President Andres Manuel Lopez Obrador tightens his grip on the struggling state oil giant. View the full article
Mexico cut its forecast for oil production at Pemex next year and reduced its tax burden after a string of accidents at offshore platforms signaled the highly indebted state company is struggling. View the full article
The Texas oil refinery that Pemex is buying has racked up a rare net loss of about $360 million this year, adding to the challenges Mexico faces in seeking energy independence. View the full article
Pemex is said to be planning to trim its crude oil exports next year as it cranks up domestic fuelmaking to supply an economy bouncing back from the pandemic. View the full article
Petroleos Mexicanos reported a small increase in third-quarter production after adding new wells, which more than offset the impact of two accidents at its offshore operations. View the full article
Pemex is under pressure to prove that the company is increasing production under the government of President Andres Manuel Lopez Obrador, who swept into power in late 2018, promising to revive it by rolling back the liberalizing energy reforms of his predecessor. View the full article
Mexico President Andres Manuel Lopez Obrador, the great champion of his beloved but beleaguered state-owned oil giant, may be making his boldest move yet to keep it afloat. View the full article
Amid the rusted remnants of Venezuela’s once-mighty oil industry, a motley crew of obscure drillers has achieved a feat few thought possible: It’s more than doubled the country’s crude production in the space of a year. View the full article
Patterson-UTI Energy Inc. has entered into an agreement to acquire Pioneer Energy Services Corp. for approximately $295 million, which includes the retirement of all Pioneer Energy Services’ debt. View the full article
Pakistan State Oil Co., the nation’s largest fuel importer and retailer, is planning to build a $500 million LNG terminal as part of its strategy to diversify into multiple businesses. View the full article
The award extends the scope of energy cooperation between the UAE and Pakistan, which imports about 100,000 barrels of Emirati oil a day. Abu Dhabi sovereign fund Mubadala Investment Co. owns a stake in a refinery in Pakistan. View the full article
Occidental has long held more pipe space than it needs from the Permian, in the hope that its shale business would eventually grow big enough to make use of it. But last year’s oil-price crash, and, more recently, the winter freeze in Texas, caused the company to cut investment and production in an effort to prioritize near-term cash flow for debt reduction. View the full article
Oil and gas producer Occidental Petroleum Corp.’s move to hedge its output has been a roller coaster over the past two years. View the full article
The transaction, which is expected to close in the third quarter of 2021, includes approximately 25,000 net acres in the Southern Delaware Basin in Texas with current production of approximately 10,000 barrels of oil equivalent per day from about 360 active wells. View the full article
“A carbon tax would be bad for a lot of the industry, a carbon tax would be bad for the consumers and especially for those consumers who are more disadvantaged from an economic standpoint,” Occidental CEO Vicki Hollub said at a conference hosted by Texas Independent Producers and Royalty Owners Association. View the full article
Oxford Flow, flow control equipment specialist for oil, gas, industrial process and water industries, has been awarded the Albert Woelfel Best Mechanical Engineering Achievement Award by the American Society of Mechanical Engineers at OTC for its ES axial flow valve. View the full article
Water management and risk prevention specialist OWM Group has been awarded a two-year framework agreement to provide potable water management products and services to decommissioning specialists Well-Safe Solutions. View the full article
The OU team designed and proposed a system to repurpose six abandoned oil and gas wells in Shawnee, Oklahoma, to provide clean, renewable geothermal energy for more than 730,449 square feet of educational and municipal buildings. View the full article
The Spotlight on New Technology Award recognizes companies that have created new and advanced technologies that play a role in advancing the offshore oil and gas sector into the forthcoming years. View the full article
Two of the most prominent energy conferences – the Offshore Technology Conference (OTC) and NAPE Summit – announced a first-of-its-kind “Synergy in Energy” partnership. Both events will be held Aug.16-20 in Houston and guests will have the option to purchase a combo pass allowing full access to both conferences. View the full article
Two of the most prominent energy conferences – the Offshore Technology Conference (OTC) and NAPE Summit – announced a first-of-its-kind “Synergy in Energy” partnership. Both events will be held Aug.16-20 in Houston and guests will have the option to purchase a combo pass allowing full access to both conferences. View the full article
The pandemic had a unique impact on the energy industry and will pave the path of the energy transition on its way to net zero emissions, Society of Petroleum Engineers President Kamel Ben-Naceur said during a keynote presentation at OTC. View the full article
Concerned about the growing safety risk posed by corrosion and other structural integrity issues associated with the global floating production fleet, American Bureau of Shipping pulled together an industry working group 18 months ago. View the full article
Major operator bp expects its properties in the U.S. Gulf of Mexico to remain a key part of its portfolio over the next decade, even as other upstream operations are discarded in the transition to alternative energy forms. View the full article
The U.S. Department of Energy is actively aligning funds and programs to further support the thriving offshore wind industry, specifically projects in the US Gulf of Mexico and Central Atlantic. 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.
