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The OPEC+ cartel’s production policy will be the main factor influencing oil prices over the coming months, according to Vitol Group. View the full article
Schlumberger New Energy, the CEA and partners have announced the signature of pilot project agreements between Genvia and critical-industry leaders on the pathway to net zero in the cement and steel industries View the full article
Biden’s administration is dramatically curtailing U.S. public land available for new oil and gas development as it seeks to impose more environmental protections and financial limitations on the activity. View the full article
Perenco announced it has completed the acquisition of Glencore’s corporate entities holding its entire Chad Upstream oil interests. View the full article
Among other things, Microsoft is making it possible for Exxon to analyze reams of oil field data. Amazon is helping drillers run simulations to maximize how much oil they can pump from existing wells. View the full article
The biggest provider of oil and gas rigs to the U.S. shale patch is pushing a new pricing model as speedier drilling cuts into contractors’ revenue. View the full article
President Joe Biden’s plan to eliminate subsidies claimed by oil and gas companies and raise levies on corporate polluters would increase government receipts by $35 billion over the coming decade. View the full article
Karoon Energy Ltd has exercised an option to add the drilling of two development wells at the Patola field offshore Brazil to the work scope of the semi-submersible rig Mærsk Developer. The work is expected to commence in the second half of 2022. View the full article
The Biden administration faces the sobering reality that returning to the Iran nuclear deal may no longer be feasible, as the Islamic Republic finds ways to cope with U.S. sanctions and races toward the capacity to build a bomb. View the full article
Qatar ordered four new liquefied natural gas tankers worth more than 2.8 billion rials ($762 million) from a Chinese shipbuilder, as demand for the fuel booms. View the full article
The global energy crisis that many blame on efforts to move away from fossil fuels is actually giving new momentum to the shift to renewables in Canada, according to some of the bankers helping oil-sands producers navigate that transition. View the full article
Europe can reduce energy dependence on Russia quicker than previously estimated, Mario Draghi said in an interview with Corriere della Sera. View the full article
Sanctions have led to a $237.5 billion decline in the Eastern Europe oil and gas project pipeline as restricted access to intermediate goods and international capital have halted the construction of numerous oil and gas projects. View the full article
Santos Ltd. has given the go-ahead for a $2.6 billion oil field project in Alaska to expand its production beyond the Asia-Pacific region. View the full article
Having risen steadily – and somewhat alarmingly – for more than a week, Brent crude price has slightly gone down for most of the day on Tuesday.
Major oil producers in the OPEC, meanwhile, still think the price of the crude oil is in the right range as far as their economic issues are concerned, thanks to the output cut.
The minnows in the organization, however, do not see it that way and reluctantly agree with cuts; they want to sell as much oil as possible and earn revenues as a matt
The sale consists of approximately 78,700 net acres, which are located in the southernmost portion of Hess’ Bakken position and not connected to Hess Midstream infrastructure. View the full article
Brookfield Infrastructure Partners LP raised its hostile offer for Inter Pipeline Ltd. to C$8.4 billion ($6.9 billion) as it sought break up the company’s deal with Pembina Pipeline Corp., setting off a full-blown takeover battle for Canada’s fourth-largest pipeline company. View the full article
“Oil is seeing a continued loss of momentum, with sentiment taking a knock,” said Ole Hansen, head of commodities research at Saxo Bank A/S. “Most importantly, worries about the short-term demand outlook as governments respond to a surging delta variant” are weighing on the market. View the full article
As the reservoir pressure of the Jansz-Io field declines after years of production, compression infrastructure is required to enhance the recoverability of the field. View the full article
The White House’s push for releases of oil from national reserves is already fully priced into the market following the drop in crude prices in recent weeks, according to Goldman Sachs Group Inc. View the full article
Two Libyan ports have been forced to stop loading oil after protests calling for Prime Minister Abdul Hamid Dbeibah to step down spilled over into the OPEC member’s energy sector. View the full article
The American Petroleum Institute released a statement from President and CEO Mike Sommers in response to a letter President Biden sent to oil refineries, with API saying shifting away from domestic oil and natural gas is a misguided policy. View the full article
Global oil markets face a high risk of a supply squeeze this year as demand remains resilient and spare production capacity dwindles, the new head of OPEC said. 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
House Republicans plan to unveil their own plan to fight climate change later this month, according to three people familiar with the matter, a reflection of the pressure on the party to come up with solutions to a problem it had previously denied or ignored. 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.
