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Saudi Arabia cut oil prices for sales to Asia next month by more than twice the expected amount in a sign the world’s largest crude exporter wants to entice buyers to take more of its barrels. View the full article
Saudi Arabia and Russia have a tentative deal to gradually increase OPEC+ oil output in the coming months, delegates said. The proposal under discussion would add about 2 million barrels a day to the cartel’s output from August to December. View the full article
Employment in the U.S. oilfield services, and equipment sector rose by an estimated 7,131 jobs to 643,092 in July, according to preliminary data from the Bureau of Labor Statistics and analysis by the Energy Workforce & Technology Council. View the full article
Callon Petroleum Co. failed to win over investors Wednesday after announcing its biggest-ever acquisition to bulk up in America’s most prolific shale patch. View the full article
Endangered desert fish would get millions of dollars in federal funding, while oil companies would face new fees and a ban on most offshore drilling under a plan floated by House Democrats. View the full article
Maersk Drilling has entered into an agreement to divest the combined drilling and production unit Mærsk Inspirer to Havila Sirius for a price of $373 million. View the full article
The National Ocean Industries Association (NOIA) Board of Directors has elected Tim Duncan, President and CEO of Talos Energy, as Chairman and Paul Danos, Owner, President and CEO of Danos, as Vice Chairman for the 2021-22 term. View the full article
Over the last four weeks total stockpiles, including the Strategic Petroleum Reserve, have fallen at a rate of 1.15 million barrels a day, marking the largest four-week decline on a rolling basis in Energy Information Administration Data going back to 1982. View the full article
By leveraging the combined strengths of their digital oilfield solutions, the partnership provides a single, unified solution to accelerate innovation and optimize every completions operation. View the full article
CGG announced that Sercel has won a second major contract to supply land seismic equipment to a leading seismic acquisition contractor for a 3D mega-crew survey in Saudi Arabia. View the full article
“When you consider the 20-gigawatt target we’ve laid out until 2025, it’s a significant move forward,” Dev Sanyal, BP’s head of gas and low-carbon energy, said in an interview. View the full article
Oil and gas employment has remained fairly flat in 2021 as companies have focused on reducing debt, repaying investors and focusing on research and development instead of boosting production. Employment in the sector is down 13.8% since the onset of the pandemic in March 2020. View the full article
“Having the right data available at the right time and in the right format can have a huge impact for the future of the Norwegian shelf,” says May Karin Mannes, the Norwegian Petroleum Directorate's Director for shelf analyses and data management. View the full article
Saudi Arabia’s foreign minister said there’s nothing more the kingdom can do to tame oil markets, implying that the world’s biggest crude exporter has no plan to accelerate its gradual production increases. 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
American operator Zion Oil and Gas continues to be optimistic about a wildcat well it has drilled onshore Israel. View the full article
Canada's oil sands producers were able to export a record amount of crude to overseas markets thanks to a new link to the U.S. Gulf Coast. View the full article
Europe’s worst energy crisis in decades could drag deep into the cold months as Russia is unlikely to boost shipments until at least November. View the full article
A robust recovery in demand from the Covid-19 pandemic had pushed prices to the highest settlement in more than a year last Wednesday, and Goldman sees the rally accelerating as consumption outpaces supply from OPEC and shale. View the full article
LNG supplies entering European grids in July fell to the lowest for that month in three years and the outlook for this month is even more grim. View the full article
Operator Neptune Energy and its partners Idemitsu Petroleum Norge, PGNiG Upstream Norway and Sval Energi today announced the safe and successful start-up of production from the Duva development in the Norwegian sector of the North Sea. View the full article
BP and PetroChina formed a joint venture to manage the giant Rumaila field in Iraq, an operating structure the British oil major has adopted in other parts of the world as it focuses on the energy transition. View the full article
With new coronavirus infections falling to a record low last week and vaccination efforts ramping up, the latest crude demand rebound comes with a lower threat of being set back again by new outbreaks. View the full article
European supermajors TotalEnergies SE and Royal Dutch Shell Plc will join Brazil’s state-controlled oil giant at two key fields, marking the latest expansion in Latin America’s largest crude producer and an important victory for President Jair Bolsonaro. View the full article
Oil’s forward curve suggests growing confidence, with the spread between WTI’s contracts for December this year and 2022 at the widest backwardation in about a month. Yet there are still reasons to be cautious, with India suffering a fresh wave of coronavirus infections and refiners there starting to curb processing. 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.