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Penn Virginia Corporation and Lonestar Resources US Inc. have entered into a definitive merger agreement under which Penn Virginia will acquire Lonestar in an all-stock transaction. View the full article
Shell Brasil Petróleo, a subsidiary of Shell plc, signed a Production Sharing Contract to acquire a 25% stake of the Atapu field. Shell paid $1.1 billion to Petrobras for the increased stake in the field. View the full article
The International Energy Agency called on Russia to supply more natural gas to Europe, saying the energy crunch was an opportunity for the country to show it’s a “reliable supplier.” View the full article
Two of Big Oil’s biggest players dropped their long-term energy outlooks this week: French energy company TotalEnergies and the Organization of the Petroleum Exporting Countries. They offer quite different visions of the world 25 years from now. View the full article
Refineries in Michigan, Ohio, Indiana, Pennsylvania as well as those in Ontario and Quebec would have to find alternative means for securing crude oil should Line 5 be shut, requiring the building of new rail terminals and rail cars, Vern Yu, Enbridge's president of liquid pipelines, told Canadian lawmakers Tuesday. 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
DNV has launched a new collaborative research project to develop an automated data processing procedure for verification of detected wind turbine blade defects, with the aim of building trust and generating broader acceptance of automated data processing techniques across the industry and to inform future regulation. View the full article
Ministers gathering in the Icelandic capital Reykjavik for a meeting of the Arctic Council last week weren’t due to discuss security. But the issue dominated conversations on the sidelines after Russia’s Foreign Affairs Minister Sergei Lavrov declared ahead of the summit that the Arctic “is our land and our waters.” View the full article
Canadian Overseas Petroleum Limited, an international oil and gas exploration, production and development company with operations focused in Wyoming, USA, announced a significant conventional light oil discovery at its Wyoming asset. View the full article
In a move strongly endorsed by Offshore Energies UK it has launched the UK’s first-ever carbon storage licensing round, offering 13 areas of the seabed as potential sites for permanently storing millions of tons of CO2. View the full article
TGS anticipates significant uplift in quality beyond the original PSTM data which was acquired in 2012. Utilization of modern imaging techniques, including full waveform inversion, will enable a significantly enhanced evaluation of the prospectivity of the area. View the full article
Nigeria and Morocco signed an agreement that inches a long-standing proposal for a gas pipeline between the two countries closer to reality, raising the possibility of a new energy-supply route for West Africa and Europe. View the full article
Covid-19 cases are surging in India and threatening the economy’s recovery from a rare recession, while in Southeast Asia, demand has hit a plateau and is unlikely to reach pre-virus levels until the end of 2021 or later. View the full article
The award, which marks Sparrows first large contract in the Pilbara region of Western Australia, will see the company hire local personnel including lifting engineers, mechanical and electrical technicians, rope access, inspectors and crane supervisors. View the full article
Schlumberger announced it has expanded its global INNOVATION FACTORI network with the inauguration of a new center in Oslo, Norway. View the full article
Devon Energy announced it is establishing new environmental performance targets focused on reducing the carbon intensity of its operations, minimizing freshwater use, and engaging constructively with its value chain. View the full article
CGG has been awarded a major contract by Equinor for the seismic imaging of its Bacalhau 3D ocean bottom node (OBN) survey covering 409 sq km (158 sq mi) currently being acquired in Brazil’s deepwater Santos Basin. View the full article
Mubadala Investment Co., Abu Dhabi National Oil Co. and ADQ have formed an alliance to produce hydrogen using natural gas and renewable energy and market it overseas as well as in the United Arab Emirates, ADQ said in a statement. View the full article
Mikhail Ulyanov, Russia’s representative at the United Nations’ International Atomic Energy Agency, said that while significant progress had been made by officials seeking to orchestrate a U.S. return to the pact abandoned by then-President Donald Trump, “unresolved issues still remain.” View the full article
Federal investigators raided a deep-water oil explorer’s Louisiana office last week as part of a probe into an offshore spill, a rare escalation for a U.S. environmental case. View the full article
Schlumberger’s Digital Forum 2022 is underway today with its first full day of speakers and presentations, following the theme is “Connecting for a New Future.” World Oil is present to bring you updates throughout the week. View the full article
Exxon Mobil Corp. recruited a company outsider for the first time to join the chief executive officer’s inner circle of managers, a move that comes just weeks after the oil giant suffered a stunning setback at the hands of a tiny activist investor. View the full article
The Government of Newfoundland and Labrador is not allocating funding for the 2022 offshore seismic program and as such, the program will cease for this year. The Newfoundland and Labrador Oil and Gas Industries Association is disappointed with this decision and encourages the Provincial Government to reconsider for this year and to plan an offshore seismic program for 2023. View the full article
Oil extended gains with signs of a recovery in demand from the U.S. to Europe stoking optimism among producers and analysts in the crude market. View the full article
Turkish Petroleum has awarded Schlumberger a significant contract for the engineering, procurement, construction and installation (EPCI) of end-to-end production solutions for the Sakarya gas field, Turkey’s largest gas reserve. 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.