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OPEC produced an average of 26.98 MMbpd in June, or 80,000 bpd less than during the previous month, according to a Bloomberg survey. Small reductions in Iraq and Nigeria drove the decline. View the full article
The merger of TGS and PGS forms a powerhouse in the energy sector, enhancing its capabilities to support energy exploration and production on a global scale. This integration will enable the company to leverage a wider pool of technological resources and expertise, significantly boosting its operational efficiency, innovation and customer engagement strategies. View the full article
The project is expected to achieve a peak production of approximately 18,100 boed day in 2026, and the oil property is light crude. It is the first oil field in the South China Sea supplied with onshore power. View the full article
NC JSC QazaqGaz (QazaqGaz) and Chevron Corporation, through its subsidiary Chevron Munaigas Inc., have signed a cooperation agreement which will entail potential geological exploration at the Zhalibek site in the Aktobe region, near the Zhanazhol and Urikhtau fields. View the full article
AIQ’s RoboWell autonomous well control (AWC) solution will be made available through Halliburton’s Landmark iEnergy hybrid cloud. This agreement marks a step in AIQ’s goal to expand the adoption of AI-enabled AWC tools to help optimize and increase production in the global upstream sector. View the full article
The sales would be part of a broader strategy of disposing of €8 billion in assets over the next three years. Units that could be candidates for the asset sale plan include some operations in Indonesia and Cyprus, said the people, asking not to be named discussing confidential deliberations. View the full article
The contracts relate to phase two development of the vast Jafurah unconventional gas field, phase three expansion of Aramco’s Master Gas System, new gas rigs and ongoing capacity maintenance. View the full article
The 6-3 decision, which came in a fight over a fishing-industry regulation, is a long-sought triumph for opponents of big government. The court overturned Chevron v. Natural Resources Defense Council, a 1984 ruling that Democratic administrations had used as a legal building block for new regulations. View the full article
This is the second well to be drilled in production license 1170, which was awarded in APA 2021. Gas was also recently proven in the first well in the production license. Preliminary estimates indicate the size of the natural gas discovery at between 3.23 – 4.42 MMboe. View the full article
The American Petroleum Institute (API) released a statement from API Senior Vice President and General Counsel Ryan Meyers on the Supreme Court’s decision to overturn the 1984 Chevron precedent. View the full article
The offshore project in eastern South China Sea, with an average water depth of approximately 89 m, will be developed by leveraging the existing production facilities. The project is expected to achieve a peak production of approximately 5,300 boed in 2025. View the full article
U.S. Energy Development Corporation (U.S. Energy) is expanding its operations in the prolific Permian basin. U.S. Energy is poised for significant growth and development in one of the most productive oil and gas regions in the United States. View the full article
Under the multi-year services frame agreement, Baker Hughes will provide spare parts and field service resources for onsite turbomachinery equipment maintenance and upgrades, equipment refurbishment and advanced digital asset performance services. View the full article
The probe is being led by Budget Committee Chairman Sheldon Whitehouse, a known industry foe. He has requested documents from 18 oil companies — including Exxon Mobil Corp., BP PLC, and Chevron Corp. — on so-called allegations that evidence suggests the oil and gas industry may be trying to depress production. View the full article
Returning expatriates are emerging as one of the early beneficiaries of Guyana’s oil boom, which is calling back some of the country’s nearly 40% who moved overseas. Their entrepreneurial ventures will play a key role in determining whether the world’s newest petrostate can grow into a diversified economy. View the full article
The 6-3 decision, which came in a fight over a fishing-industry regulation, is a long-sought triumph for opponents of big government. The court overturned Chevron v. Natural Resources Defense Council, a 1984 ruling that Democratic administrations had used as a legal building block for new regulations. View the full article
TotalEnergies has signed an agreement to sell to The Prax Group its entire interest in West of Shetland assets in the United Kingdom (Laggan, Tormore, Glenlivet, Edradour and Glendronach fields, the onshore Shetland Gas Plant and nearby exploration licenses). View the full article
The Nikaitchuq and Oooguruk oil fields lie offshore Alaska in the Beaufort Sea. Eni acquired 100% of the Oooguruk field in 2019. The field has been producing since 2008. Additionally, Nikaitchuq has been producing since 2011. Together, the fields produce roughly 22,000 bpd. View the full article
The American Petroleum Institute (API) released a statement from API Senior Vice President and General Counsel Ryan Meyers applauding the U.S. Supreme Court’s decision to stay the U.S. Environmental Protection Agency’s (EPA) ‘Good Neighbor Rule,’ ensuring the oil and gas industry can continue to provide affordable, reliable energy to American consumers at a time of persistent inflation and geopolitical uncertainty: View the full article
The Vår Energi-operated Cerisa exploration well in production license PL 636 offshore Norway was successful, with estimated gross recoverable resources of between 18-39 MMboe. View the full article
CGX Energy Inc. and Frontera Energy Corporation, joint venture partners in the Petroleum Prospecting License for the Corentyne block offshore Guyana (the “License”), has submitted a Notice of Potential Commercial Interest for the Wei-1 discovery to the Government of Guyana, which preserves the Joint Venture’s interests in the License. View the full article
Baker Hughes launched three gas, flow and moisture measurement sensor technologies designed to improve safety performance and drive productivity in oil and gas, hydrogen and other applications across energy and industrial sectors. View the full article
SM Energy Co. and Northern Oil and Gas Inc., two U.S. shale drillers, agreed to acquire assets in Utah’s Uinta basin for about $2.6 billion in cash, the latest in a string of oil and gas acquisitions as operators look to scale up. View the full article
The Fram Sør solution will use SLB OneSubsea’s standard subsea tree design, upgraded with a fully electrified power, control and actuation system, while the elimination of high-pressure hydraulic systems will enable operators to go further and deeper, improving production and making even marginal fields more viable. View the full article
Transocean Ltd. announced a 365-day contract extension for the Deepwater Asgard with an independent operator offshore the U.S. in the Gulf of Mexico. The program is expected to commence in direct continuation of the rig’s current program and is estimated to contribute approximately $188 million in backlog, including additional services.
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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.
