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Production from the Norwegian Continental Shelf will peak in 2025, the directorate said in a report published Wednesday. How quickly production falls will depend on whether companies can tap into resources around existing infrastructure using new technologies, as well as in less familiar regions like the Barents Sea in the far country’s far North. View the full article
McDermott has secured an engineering, procurement, construction, and installation (EPCI) contract from QatarEnergy LNG for the North Field South (NFS) offshore pipelines and cables project. View the full article
SCS Technologies today announced the adoption of Microsoft RealWear Navigator Z1 for its Factory Acceptable Tests (FATs). SCS can now conduct FATs remotely, increasing productivity while saving time and costs associated with critical oil and gas system and component testing. View the full article
I have been looking at many charts that depict the current oil prices and even created one for my own website/blog using the weekly oil price data since 1987, from the EIA, the US Energy Information Administration.
Despite all that, sensing the trend, upward or downward, on weekly basis is as ridiculous as betting on the foot that a centipede will put ward in order to shorten its crooked path.
I am sure this must be the nightmare of every chartist who lurches on the uncertainty of cru
Even if OPEC+ decided to resume phased increases, it would review each step every month, allowing it to hit pause if oil demand growth were to disappoint, according to a delegate. View the full article
During a recent call with investors, Suncor Energy CEO Mark Little commented on the future of the Terra Nova FPSO and efforts to confirm the Asset Life Extension project of the vessel. View the full article
Iran’s oil comeback, already taking longer than many traders expected, will be further complicated by last week’s deadly drone attack on a tanker in the Gulf of Oman, which the U.S., U.K. and Israel all blamed on Tehran. View the full article
Investors placed more than $34 billion of orders for Abu Dhabi-based ADNOC Drilling Company PJSC’s $1.1 billion initial public offering, further underscoring the global clamor for equity deals. View the full article
Halliburton Company today introduced StrataStar™, a deep azimuthal resistivity service that provides multilayer visualization to maximize well contact with the reservoir and improve real-time reserves evaluation. View the full article
Exxon Mobil Corp. shares rose to the highest intraday level ever Wednesday and are on track to close at a record, stoked by an almost 60% surge in crude prices that’s lifting oil supermajors and complicating efforts to fight global inflation. View the full article
Devon Energy Corp. agreed to acquire Validus Energy for about $1.8 billion in cash to expand in the Eagle Ford shale patch in South Texas. View the full article
Spending on oil and gas extraction and pipeline transport will jump by 15% in 2024, compared with the 215 billion kroner spent a year earlier, Statistics Norway said on Tuesday. Spending in 2025 is forecast to be 216 billion kroner, the agency said. View the full article
The data published by OPEC’s Vienna-based secretariat on Wednesday show that three of the coalition’s biggest members still haven’t conformed to their oil production targets, let alone begun additional compensatory cuts they promised to make up for earlier cheating. View the full article
Halliburton, a major U.S. oil field services firm, experienced a cyberattack on Wednesday, affecting some of its systems, particularly at its north Houston campus and global connectivity networks. View the full article
Mike Sommers, president and CEO of the American Petroleum Institute (API), addressed the New Mexico Oil and Gas Association in Santa Fe today, emphasizing the critical role of U.S. energy security amid rising global tensions. View the full article
(WO) — The 20th annual Women’s Global Leadership Conference in Energy (WGLC) kicked off today with a powerful opening session led by Alexandra “Alie” Pruner, Senior Advisor at Perella Weinberg Partners/TPH&Co. View the full article
Oil surge continues as investors feel that the demand is back on track and it’s finally irreversible regardless of the bad news on the Coronavirus front with the discovery of new variants.
Investors seem to be particularly buoyed by the projected increase in demand by two leading developing countries in Asia, India and China, as the respective economies show healthy signs of recovery.
Although activities in the South China Sea involving the world’s two biggest economies is a concern, t
Optimism has also been buoyed by expectations that global crude supplies won’t grow fast enough to satisfy demand as Covid-19 vaccinations proliferate and economies that shut down for the better part of a year begin reopening. View the full article
This new name and new visual identity embody the course TotalEnergies has charted for itself: that of a broadly-focused energy company committed to producing and providing energies that are ever more affordable, reliable and clean. View the full article
US tight oil operators have for several months been depleting their inventory of drilled but uncompleted wells (DUCs) and, amid a slower drilling response, the number of ‘live’ DUCs in the country’s major oil regions slumped to 2,381 wells in June 2021, the lowest level since 2013, a Rystad Energy analysis reveals. View the full article
A $1 billion project to haul natural gas from Pennsylvania to New Jersey has become the latest casualty of opposition to pipelines across the U.S. View the full article
European natural gas jumped to a three-week high on delays in starting up a controversial new pipeline from Russia. View the full article
OPEC’s top diplomat told European Union officials that the current crisis in global oil markets caused by Russia’s invasion of Ukraine is beyond the group’s control. View the full article
American Petroleum Institute (API) President and CEO Mike Sommers has named Amanda Eversole as Executive Vice President and Chief Advocacy Officer, where she will lead the organization’s integrated advocacy efforts across the federal government relations, state government relations, and external mobilization departments. View the full article
W&T Offshore Inc. has hired Skadden, Arps, Slate, Meagher & Flom to conduct an internal investigation on management’s close relationship with information-technology vendor AAIT. 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.
