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Tuesday, the Texas Legislature passed two critically important bills that allow Texas to fight national efforts to eliminate fossil fuels. View the full article
Oil has gotten stuck in recent weeks, as traders look for more signs of a recovery in consumption from the Covid-19 pandemic. Trading volumes fell below their 15-day average every day last week as the market awaits a breakout. In the meantime, the OPEC+ alliance agreed to add more barrels from May. View the full article
Timchenko said that Ukraine is the number one topic at Davos, focusing on the country’s role in the future, particularly regarding energy security. A critical part of energy security is renewables. View the full article
Employment in the U.S. oilfield services and equipment sector rose by an estimated 6,865 jobs to 648,914 in August, according to preliminary data from the Bureau of Labor Statistics and analysis by the Energy Workforce & Technology Council. View the full article
Professionals and technologies demonstrating cutting-edge thinking and next-generation leadership from across the upstream oil and gas industry were selected as finalists in 18 awards categories. 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
EQT Corp., the largest U.S. natural gas producer, agreed to acquire a privately held competitor in a $5.2 billion deal to expand holdings in the prolific Marcellus shale. View the full article
With new coronavirus infections falling to a record low last week and vaccination efforts ramping up, the latest crude demand rebound comes with a lower threat of being set back again by new outbreaks. View the full article
African energy sector investment platform Energy Capital & Power has created a coalition with Mauritania’s Energy Ministry and NOC to attract foreign stakeholder interest in the country’s potential renewable projects and 28 offshore blocks that are open for bids. View the full article
Natural gas futures soared as forecasts for chilly November weather in the U.S. East heightened concern that supplies will struggle to meet demand this winter. View the full article
Electricity prices in New England jumped on Tuesday as a frigid start to the day spurred demand when the cost of natural gas used to fuel power plants soared. View the full article
The U.S. Energy Information Administration expects that the United States will import more crude oil to fill the widening gap between refinery inputs of crude oil and domestic crude oil production in 2021 and 2022. View the full article
Oil dropped at the start of the week on concerns that a spreading Covid-19 outbreak in China will impact consumption even further. View the full article
The second Wells Insight report, published by the UK Oil and Gas Authority, highlights significant opportunities remaining in the UK North Sea basin, despite Covid resulting in a slowdown in 2020. View the full article
The U.S. is holding its largest sale of oil from strategic reserves this year at a time when the outlook for fuel demand is darkening amid the resurgent Covid-19 virus. View the full article
Germany and Austria came out strongly against the European Union proposal to classify some natural-gas and nuclear projects as sustainable investments, with both countries accusing the bloc of “greenwashing.” View the full article
Maersk Drilling has entered into an agreement to divest the combined drilling and production unit Mærsk Inspirer to Havila Sirius for a price of $373 million. View the full article
Oil and gas employment has remained fairly flat in 2021 as companies have focused on reducing debt, repaying investors and focusing on research and development instead of boosting production. Employment in the sector is down 13.8% since the onset of the pandemic in March 2020. View the full article
The UK won a challenge over its decision to grant BP Plc a North Sea oil permit as judges pointed to the need for the country to have diverse sources of fuel as the current energy crisis drives prices for power ever higher. View the full article
China’s Silk Road Fund and Hassana Investment Co., controlled by the Saudi Arabian government, joined a group investing $12.4 billion in Saudi Aramco’s oil pipelines. View the full article
Saudi Aramco is considering a bold move to open up one of the world’s largest unconventional gas fields to foreign investors, as it looks to fund a $110 billion project to help it diversify from oil sales, people familiar with the matter said. View the full article
Oil extended gains to the highest in three weeks a day after U.S. crude stockpiles dropped the most since September while the dollar slipped. View the full article
The American Petroleum Institute announced that Will Hupman is returning to API as Vice President of Downstream Policy. In this role, Hupman will lead the API Downstream department and coordinate downstream issues across the organization to help advance API’s mission. View the full article
The merger of Cabot Oil and Gas Corp. with Cimarex Energy Co. announced Monday has confounded investors and analysts, leaving them to question the logic behind a tie-up that the companies say will increase diversification. Cimarex is mostly an oil explorer in Texas and Oklahoma, while Cabot is focused on natural gas drilling in the Marcellus shale basin in Appalachia. View the full article
APA Corporation announced drilling success and updated the status of its appraisal program offshore Suriname in Block 58. The primary objective of the first phase of the appraisal drilling program is to deliver a fast-track, black oil development. 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.
