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Some U.S. lawmakers are seizing on the energy price surge to revive long-standing legislation that would subject the OPEC oil cartel to the same antitrust laws used more than century ago to break up Standard Oil’s monopoly. View the full article
Wood’s scope covers the development of a complete off-grid integrated energy complex to produce ammonia from green hydrogen – avoiding up to 5 million tons of CO₂ annually. View the full article
Billionaire Harold Hamm is poised to throw off the shackles of shareholder discipline so that Continental Resources Inc. can maximize windfall profits. View the full article
Permex Petroleum Corporation, a junior oil and gas company based in Dallas, was approved for a permit to drill on its property in Martin County, Texas. View the full article
Vice President Kamala Harris drew derision on social media after she told a West Virginia television station that people could be put to work reclaiming abandoned “land mines.” A day earlier, climate envoy John Kerry said during a White House briefing that displaced laborers face “better choices” making solar panels and installing wind turbines. View the full article
Shell’s upstream unit was able to capture “the upside from the current commodity price environment” in the first quarter, according to a statement April 7th. View the full article
Chevron CEO Mike Wirth signaled he would consider selling its 20% stake in a Canadian oil sands mine as its faces investor pressure to do more to curb emissions and fight climate change. View the full article
Exxon Mobil was suspended from the Climate Leadership Council, a pro-carbon tax group backed by conservation groups and some of the world’s biggest corporations. View the full article
China’s central government officials ordered the country’s top state-owned energy companies -- from coal to electricity and oil -- to secure supplies for this winter at all costs, according to people familiar with the matter. View the full article
In its November Short-Term Energy Outlook, the U.S. Energy Information Administration forecasts that rising production from OPEC+ countries and the United States will lead to global liquid fuels inventories increasing and crude oil prices falling in 2022. View the full article
Russian tanker operator Sovcomflot PJSC is set to close its Cyprus-based payment center as a result of sanctions imposed on Russia for its invasion of Ukraine, according to people familiar with the matter. View the full article
Gulf Energy Information, producer of the Carbon Intel Forum, is pleased to announce that Aramco Americas will be Host Sponsor for the 2022 event to take place September 28 – 29 in Houston, Texas. View the full article
Jiangsu Strong Wind Shipyard finished constructing a new floating production unit and it has been delivered to ABS Class. It will be towed from China to Indonesia for installation at the Madura Block gas fields offshore East Java, Indonesia. View the full article
As a result of geological exploration and production drilling conducted in 2020, Lukoil added 464 million barrels of oil equivalent to its proved reserves. The largest contribution was made by the assets in West Siberia, Ural region, Timan-Pechora and Russian sector of the Caspian Sea. View the full article
Occidental Petroleum Corp. praised OPEC and its allies for managing crude markets out of last year’s historic crash and said the U.S. shale industry is thankful for its efforts. View the full article
If the world were to follow the International Energy Agency’s controversial road map, which said investment in new fields would have to stop immediately to achieve net-zero carbon emissions by 2050, “the price for oil will go to, what, $200? Gas prices will skyrocket,” said Russian Deputy Prime Minister Alexander Novak. View the full article
The reopening of major economies has triggered a surge in commodity prices, with crude up around 40% this year. In the past two weeks, oil companies such as BP Chevron and Royal Dutch Shell have said they will increase share buybacks and payouts, confident the worst of the pandemic is over. View the full article
The global energy crunch could help propel oil prices above $100 a barrel for the first time since 2014 and spur a global economic crisis, according to Bank of America. View the full article
Spot freight rates for liquefied natural gas tankers in the Asia-Pacific have surged to record highs as a steady flow of U.S. cargoes to the region boosts demand for ships. View the full article
Romania is moving ahead with a plan to unlock stalled natural gas projects in the Black Sea as Europe searches for new energy resources to cut reliance on Russia following its invasion of Ukraine. View the full article
Solstad Offshore, DeepOcean Group and Østensjø Group have joined forces to fast-track the adoption of remotely managed services to drive down operating costs and emissions for the marine and offshore industries. View the full article
While the introduction of the NNPCL promises to be advantageous to the country’s energy industry, realistically, there are certain challenges that need to be promptly and properly addressed for the new NNPCL to function effectively and achieve its objectives. View the full article
The strategic alliance between Halliburton and Optime Subsea will jointly commercialize and deploy innovative and efficient subsea interventions and controls. View the full article
Whichever company wins would partner with Egypt’s sovereign wealth fund in taking joint full ownership of Wataniya Petroleum, a fuel distribution firm that has more than 200 filling stations and is run by the North African nation’s military. View the full article
While there are several one-off factors that have pushed gas prices higher, such as supply disruptions, the global economic rebound and a lull in new LNG export plants, there is a growing consensus that the world is facing a structural shift, driven by the energy transition. 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.
