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Iran said it will soon export oil from a new port that allows it to bypass the Strait of Hormuz, as nuclear talks between Tehran and other world powers show signs of progress. View the full article
Europe’s oil stocks may not be the most obvious picks in an ESG-conscious world, but some investors can’t get enough of them. View the full article
Oil surged to the highest in nearly two years after the OPEC+ alliance surprised traders with its decision to keep output unchanged, signaling a tighter crude market in the months ahead. View the full article
John Wood Group Plc said it agreed to pay $177 million to settle a UK-led bribery and corruption probe into a British engineering firm it acquired in 2017. View the full article
Aker BP ASA agreed to buy the oil and gas business of Lundin Energy AB in a $10 billion deal that creates the second-largest producer on the Norwegian Continental Shelf. 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
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 government’s decision to release the results of its "Climate Compatibility Checkpoint" consultation on new oil and gas projects will boost UK energy security while minimizing greenhouse gas emissions, Offshore Energies UK said. View the full article
The Government of Newfoundland and Labrador is not allocating funding for the 2022 offshore seismic program and as such, the program will cease for this year. The Newfoundland and Labrador Oil and Gas Industries Association is disappointed with this decision and encourages the Provincial Government to reconsider for this year and to plan an offshore seismic program for 2023. 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
Two of Big Oil’s biggest players dropped their long-term energy outlooks this week: French energy company TotalEnergies and the Organization of the Petroleum Exporting Countries. They offer quite different visions of the world 25 years from now. View the full article
People in Texas are suffering at present on an unprecedented scale and when the city mayor shot himself in the foot, while the response should have been a shot in the arm – not in vaccine sense – it hardly helps to boost the morale of ordinary people, let alone the vulnerable.
Clearly, the demand of electricity has outweighed supply and the risks of wind power as a substitute are there for all to see. How many of us saw this coming – the frozen wind turbines? I certainly is not one of them.
Turkish President Recep Tayyip Erdogan announced that state energy company Tpao has found 135 billion cubic meters of gas at the Amasra-1 offshore well, bringing the total amount of deposits discovered in the Black Sea over the past year to 540 billion cubic meters. View the full article
Halliburton Company released the iStar Intelligent Drilling and Logging Platform, a comprehensive measurement platform comprising multiple services for greater control of drilling and logging operations. View the full article
“We understand the industry is under political pressure from office-holding authorities and special interest groups, who want us to slow down on oil and gas activities, or change focus entirely to renewables. We cannot ignore this pressure, or the serious threat of climate change," said Equinor’s Executive Vice President, Technology, Arne Sigve Nylund. View the full article
The nation estimates it will need as much as $1.3 billion to buy a 37% stake in the Deep Water Tano/Cape Three Points asset operated by Aker Energy AS and 70% stake of the South Deep Water Tano field operated by AGM Petroleum Ghana Ltd., according to a parliamentary proceeding on Monday. View the full article
Turkish Petroleum has awarded Schlumberger a significant contract for the engineering, procurement, construction and installation (EPCI) of end-to-end production solutions for the Sakarya gas field, Turkey’s largest gas reserve. View the full article
The Shell Robert Training and Conference Center in Louisiana has established a new partnership with Maersk Training, which will see the global safety specialists deliver enhanced training to the Gulf of Mexico offshore workforce. View the full article
Devon Energy announced it is establishing new environmental performance targets focused on reducing the carbon intensity of its operations, minimizing freshwater use, and engaging constructively with its value chain. View the full article
Schlumberger’s decarbonization plan leverages technology to address operational emissions, customer emissions, and carbon-negative actions. View the full article
These drill bits combine the latest technology with an industry-leading customization process to deliver high-performance, application-specific designs for customers. View the full article
The largest gasoline pipeline in the U.S. is returning to service, recovering from a cyberattack late Friday that sent pump prices surging and triggered shortages across the Eastern U.S. View the full article
Energy Workforce & Technology Council CEO Leslie Beyer responded to House Republicans' six-part energy strategy, saying they applaud the House Energy, Climate, and Conservation task force for bringing the focus back to an 'emissions reduction' strategy. View the full article
Gulf Energy Information (GEI) and its World Oil subsidiary regret to report to our global subscribers/readers that our retired Chairman and President, Robert W. (Bob) Scott passed away on Wednesday morning in Houston at age 93. View the full article
With $4 a gallon gas, inflation at 40-year highs, and two straight quarters of economic recession, D.C. Democrats fast-tracked partisan legislation that will stifle the economy, kill jobs, hike taxes, and increase energy costs. 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.
