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Ovintiv’s operations in the Central basin of Utah involves drilling in about 2,600 feet of oil saturated reservoir rock, according to its website. The asset could attract interest from private equity-backed energy groups, the people said. View the full article
The American Petroleum Institute (API) has appointed Kevin Slagle as its new senior vice president of communications. Slagle will lead API’s communications team to advance the U.S. oil and natural gas industry's priorities in Washington, including those outlined in API’s 5-Point Policy Roadmap. View the full article
Enverus Intelligence® Research (EIR) is releasing its annual Haynesville Play Fundamentals that examines the distribution of remaining inventory across the play using economic viability. The report leverages Enverus analytics to assess the prospective quality of the emerging Western Haynesville play. View the full article
Airlines, one of the hardest hit sectors by the pandemic, anticipate man-conceived headwinds when they finally get back to normal business in the post-pandemic world.
The airline sector feels that they will have to come up with long-term strategies to reduce greenhouse gases at their sources – the engines that spew thousands of tons of carbon dioxide, in this case.
This is a sector that lost almost 75% of its passenger numbers due to the pandemic and on a soul searching mission to get
Exxon was forced to shut or reduce runs at its large refining and petrochemical plants along the Gulf Coast, but its quarterly filing showed that its oil and gas production facilities also suffered substantial reductions in earnings. View the full article
In the past, environmental activist investors were limited to the odd shareholder proposal, inevitably rebuffed by the boards and management teams. On Wednesday by contrast, shareholders ousted two Exxon Mobil directors seen as insufficiently attuned to the threat of climate change, while Chevron shareholders voted for a proposal to compel the company to reduce pollution by its customers. 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
Russia says there is no shortage of oil in the global market and there may even be a surplus from early next year, adding to the chorus of other OPEC+ members to push back against calls from the U.S. to raise output faster. View the full article
The gasoline market is painting a picture of tight supplies this summer -- the last thing Joe Biden will want to see as he tries to contain high fuel prices. View the full article
The merger will create one of the largest providers of mutual cover in the maritime industries with consolidated annual premiums of around $750 million. View the full article
The American Petroleum Institute announced a new initiative designed to attract more veterans and transitioning service members into meaningful and well-paying careers in the natural gas and oil industry. View the full article
The software is a fully adaptive, self-learning, and continuously improving system that addresses the unique challenges and requirements of drilling. The AI agent finds the most efficient and safe way to TD, predicts incidents, hazards, and optimizes parameters. View the full article
Capable of producing up to 550 MMcfgd, this project is poised to address the increasing global energy demand at a time when executives are betting on natural gas. View the full article
Chevron Corp. agreed to sell stakes in oil sands and shale assets in Western Canada to Canadian Natural Resources Ltd. for $6.5 billion. View the full article
LandBridge today announced it has entered into a purchase and sale agreement to acquire approximately 46,000 largely contiguous surface acres in the Southern Delaware basin. The land is well-positioned at a strategic intersection of oil and natural gas exploration and transportation. View the full article
Many OPEC-watchers had been expecting the group to roll over its production quotas for at least one month, so any deviation from that could be bearish. It remains to be seen whether the call from U.S. Energy Secretary Jennifer Granholm to her Saudi counterpart Prince Abdulaziz bin Salman could tip the balance in the another direction. View the full article
Pipeline operators who fail to report cybersecurity attacks to the Department of Homeland Security could face fines of $7,000 a day or more under regulations being released Thursday in response to the ransomware attack that temporarily paralyzed the nation’s biggest fuel pipeline. View the full article
ConocoPhillips beat estimates as rising commodity prices led America’s biggest independent oil producer to the highest profit in nearly three years. View the full article
UK’s Labour Party leader Keir Starmer said he’s against nationalizing energy companies, a retreat from a pledge during his leadership campaign, as Britons face a surge in electricity prices, long petrol lines and a “winter of discontent.” View the full article
Oil reversed losses to close slightly higher after another day passed without an announcement from the Biden Administration to tap U.S. crude reserves. View the full article
Murphy Oil Corp. has begun producing oil from a new deepwater Gulf of Mexico project, months ahead of schedule. View the full article
The U.K. has given permission for new drilling in the countryside south of London to establish the size of a natural gas field, as the government seeks to boost domestic energy production due to price volatility amid Russia’s war in Ukraine. View the full article
Nigeria’s energy regulator overruled President Muhammadu Buhari’s approval of a $1.28-billion purchase of Exxon Mobil Corp. assets, in a high-profile disagreement that may discourage investment in the country’s struggling oil and gas industry. View the full article
While Arjuna Capital had already withdrawn the shareholder proposal to accelerate greenhouse-gas emissions cuts that was at issue in the lawsuit, the firm went further in a letter that was sent to Exxon and filed with a Texas court, saying it “unconditionally and irrevocably” promised not to submit any more proposals related to emissions or climate change to Exxon shareholders. View the full article
RMSpumptools is a leader in electrical penetrator and connector systems, mechanical completion systems and intervention tools, subsea connector systems, and ESP monitoring systems for challenging electrical submersible pumping (“ESP”) applications. RMSpumptools designs, manufactures, and delivers its solutions from locations in the United Kingdom, Saudi Arabia, and the United Arab Emirates. 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.
