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To achieve the goal announced last month, about half of the emission cuts would need to come from capturing carbon at oil sands sites and sequestering it deep underground, which may require as much as two-thirds government capital like in Norway, Mark Little, chief executive office of Suncor Energy Inc., said in an interview. View the full article
Global experts and professionals in the carbon capture, utilization, and storage (CCUS) space, which is experiencing rapid growth, gathered together Wednesday on day one of Gulf Energy Information’s two-day Carbon+Intel Forum in Houston. View the full article
OPEC made only part of its planned production increase last month, with supplies hampered by disruptions in two of the group’s African members. View the full article
Amid growing tensions with the West and fears of new sanctions, Putin has been reluctant to spend heavily in recent years, even during the pandemic. Stagnant living standards have helped fuel public anger at the Kremlin, which has boiled over into the biggest nationwide protests in years and poses a challenge for Putin’s ruling party in parliamentary elections this fall. View the full article
Brazil alone is expected to contribute around 23% or 1.3 million barrels per day of global crude oil and condensate production in 2025 from key offshore planned and announced projects that are expected to start operations between 2021 to 2025, according to GlobalData. View the full article
Philip LeJeune, LLOG’s President and CEO said “We are pleased to announce first oil from our Praline field, our first pipe-in-pipe tieback, and the continued successful development of our high quality prospect inventory. Praline is the first of four tieback projects we expect to have online in the next year." View the full article
Saudi Aramco’s profit soared in the first quarter following a recovery in global oil and gas markets, though free cash flow remained too low to fully cover dividend payments. View the full article
The Railroad Commission of Texas issued a total of 732 original drilling permits in April 2021 compared to 456 in April 2020. The April 2021 total includes 629 permits to drill new oil or gas wells, five to re-enter plugged well bores, and 94 for re-completions of existing well bores. 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
Less than 15% of the $2.4 trillion in government spending to support the post-pandemic economic recovery has gone to investments in clean energy, according to the International Energy Agency. View the full article
The London-based oil and gas company is looking to fill 100 offshore-wind jobs in the UK and the U.S., a figure which could double by the end of the year. The recruitment drive comes even as thousands of other employees have left the company amid a wider restructuring. 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
The Texas Railroad Commission is taking action to prioritize natural gas supplies to support electricity generation, as the state faces multiple days of record cold temperatures. View the full article
Canada’s economic expansion suffered a minor setback last month after a robust start to the year, driven by a drop in oil production. View the full article
The cyber-attack that crippled the nation’s biggest fuel pipeline this week triggered spot shortages of gasoline and a gusher of political rhetoric, with groups from across the political spectrum offering myriad, and contradictory, solutions. View the full article
Royal Dutch Shell said it will appeal a ruling by a Dutch court which ordered it to cut its carbon emissions by 45% over the next decade. View the full article
A “big chunk” of U.S. shale is profitable at current oil prices, but drillers should be aware of crude’s declining share in the future global energy mix, International Energy Agency Executive Director Fatih Birol said in an interview. View the full article
Oil slumped as a rising dollar pushed financial investors, who had piled into commodities to guard against inflation, toward the exits for other sectors. View the full article
The energy giant became the latest oil major to restore earnings to pre-pandemic levels, thanks to a sharp recovery in the prices of crude, natural gas and chemicals. View the full article
Six senior executives of Citgo Petroleum Corp. who have been detained by the Venezuelan government since 2017 were transferred from prison to house arrest, according to a person familiar with the matter. 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
Royal Dutch Shell Plc was ordered by a Dutch court to slash its emissions harder and faster than planned, dealing a blow to the oil giant that could have far reaching consequences for the rest of the global fossil fuel industry. View the full article
Industry trade organizations expressed concern that additional changes to NWP 12 would increase uncertainty at a time when a clear, consistent permitting process is critical to building vital energy infrastructure and helping U.S. producers meet growing energy demands at home and abroad. 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
The $3.5 trillion budget framework the Senate narrowly passed sets the stage for a deluge of spending on electric vehicles, renewable power and clean energy initiatives meant to help combat climate change and wean the U.S. off fossil fuels. 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.