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Out of $8.45 billion in profits BP posted for the second quarter, $3.5 billion will be used to buy back the company’s own shares, and the dividend will rise by 10%. View the full article
The software combines innovative technology with a tightly integrated, end-to-end suite of workflows to create a complete and connected geoscience solution that enables a subsurface digital twin. View the full article
The collaboration paves the way for improved lithium production solutions that will help meet the expected surge in demand for lithium as the electric vehicle market takes off worldwide. View the full article
British insurer Legal and General Group Plc became the largest-yet Exxon Mobil Corp. investor to support an activist campaign to overhaul the oil giant’s board and make its climate goals more ambitious. View the full article
Russia’s crude oil and condensate output jumped in the first weeks of September as some of the nation’s key producers ramped up in line with the OPEC+ deal and Gazprom PJSC recovered from a fire at a facility in West Siberia. View the full article
Petrofac has collaborated with asset management specialist James Fisher Asset Information Services to eliminate the need for offshore surveys ahead of modification scopes, reducing time and cost. View the full article
The Biden administration is moving forward with mandatory cybersecurity requirements for pipelines, according to a person briefed on the plans, following the ransomware attack earlier this month that paralyzed the biggest fuel pipeline in the nation. View the full article
For the first time in decades, oil companies aren’t rushing to increase production to chase rising oil prices as Brent crude approaches $70. Even in the Permian, the prolific shale basin at the center of the U.S. energy boom, drillers are resisting their traditional boom-and-bust cycle of spending. View the full article
Research shows companies with a higher percentage of women in executive positions have a 34% higher total return to shareholders than those that do not and companies with ethnic diversity on their executive team are 25% more likely to have above average profitability and 27% likelihood of outperforming peers in value creation. View the full article
Damage to the Port Fourchon, which services about 90% of output from U.S. Gulf deepwater oil and natural gas wells, is extensive and widespread, Chett Chiasson, executive director of the Greater Lafourche Port Commission said in an NPR interview Tuesday. View the full article
According to figures released September 3rd by the Railroad Commission of Texas, the state’s drilling permits issued fell to their lowest level since May, while new drills hit their highest total since March. View the full article
A verdict holding oil companies liable for greenhouse gas emission caused by the burning of fossil fuels they’ve extracted would be a landmark victory for environmental campaigners, who’ve increasingly turned to courts to seek reforms. 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
Tommy Beaudreau, a veteran of the Interior Department who charted new restrictions for Arctic oil drilling under former President Barack Obama, is being tapped to return to the agency as its No. 2 official. View the full article
Halliburton Company announced a new wireline logging service that helps operators acquire more accurate well data to better evaluate production potential called StrataXaminer. 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
Oil & Natural Gas Corp.’s profit rose 32% in the fourth quarter but missed estimates as an increase in government levies ate into the gains from soaring oil prices after Russia’s invasion of Ukraine. View the full article
The global natural gas industry is in an existential race: either find a way to be part of the next generation of energy or risk getting supplanted by alternatives. View the full article
Bristow Group Inc. announced a three-year contract extension until August 2024 with Aker BP to support air transportation crew change services for their operations in the Norwegian continental shelf. View the full article
One week after OPEC and its allies abandoned their meeting in acrimony, the window for an August oil-production increase is closing without any deal in sight. View the full article
ChampionX will deliver its range of chemical management services to Vår Energi, which encompasses the deployment of its asset integrity, phase separation, flow assurance and enhanced oil recovery chemical technologies. View the full article
The Oman-based land seismic acquisition company will use Stryde systems to obtain better high-definition images for oil and gas exploration across several projects. View the full article
Oil held steady as tensions between Saudi Arabia and the UAE escalated over the weekend, leaving the market with few clues about how supply talks will proceed on Monday after discussions reached an impasse last week. View the full article
Higher consumption across major economies is buoying oil prices that have rallied around 40% this year. Against this backdrop, the OPEC+ alliance decided to keep restoring crude supply earlier this month, citing tighter balances into year-end. View the full article
The shutdown of America’s largest fuel pipeline after a cyberattack is threatening to send gasoline prices to the highest in seven years as suppliers work to stave off shortages from Atlanta to New York with tankers and barges. 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.