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The Permian basin, the largest oil producing basin in the US, was the most affected play in the country during the COVID-19 pandemic times. However, production of crude oil and natural gas from this play is likely to exceed the pre-pandemic levels by 2022 amid market recovery from the pandemic, says GlobalData, a leading data and analytics company. View the full article
Iran’s oil comeback, already taking longer than many traders expected, will be further complicated by last week’s deadly drone attack on a tanker in the Gulf of Oman, which the U.S., U.K. and Israel all blamed on Tehran. View the full article
The virus is clouding the outlook for consumption as China faces a fresh outbreak, Thailand expands its quasi-lockdown measures and infections in Sydney matched a record. Meanwhile, data indicated China’s economic activity eased in July and U.S. manufacturing data also showed some weakness. View the full article
New Mexico’s oil production surged to a record in May highlighting the Permian basin’s role as the shale industry sees some recovery from the pandemic. View the full article
Exxon Mobil’s knockout second-quarter results did little to entice investors because much of the extra cash coming from soaring energy and petrochemical prices will be used to pay down debt rather than reward shareholders. View the full article
Israel’s prime minister said Iran was “unequivocally” to blame for a deadly attack on an Israel-linked oil tanker off Oman on Thursday, just after Tehran denied responsibility. View the full article
Europe’s largest oil and gas companies are showing confidence that the era of big profits is back by significantly boosting returns to shareholders. View the full article
Tata Consultancy Services has helped Neptune Energy successfully build a cloud-native data and analytics platform, embrace automation to transform its IT operations and accelerate its cloud transformation journey. 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
French oil company TotalEnergies SE and Norway’s Equinor ASA are exiting a key venture in Venezuela, adding to an exodus of foreign firms in recent years as the country’s energy industry has withered. View the full article
Forum Energy Technologies, Inc. announced that it has secured an order from DOF Subsea to supply two of its improved 200HP Perry XLX-C work-class remotely operated vehicles. View the full article
ExxonMobil reported a significant discovery at Whiptail in the Stabroek Block offshore Guyana. The Whiptail-1 well encountered 246 feet (75 meters) of net pay in high quality, oil-bearing sandstone reservoirs. View the full article
Proserv Controls has secured a significant contract to manufacture and deliver 22 wellhead control panels to the Basra Oil Company for use on the Majnoon Oil Field in southern Iraq. View the full article
Halliburton Company introduced ExpressFiber, a single-use fiber optic cable that offers accurate, direct subsurface measurements, including cross-well communication, at a price point that enables fracture monitoring on every well pad. View the full article
British Isles seabed regulator The Crown Estate has confirmed an intention to move forward with the lease process for two 100MW floating wind test and demonstration sites in the Celtic Sea to Llŷr Floating Wind Limited. View the full article
By leveraging the combined strengths of their digital oilfield solutions, the partnership provides a single, unified solution to accelerate innovation and optimize every completions operation. View the full article
The platform now enables operators to integrate DAS data with offset pressure, microseismic, tracers, logs, and geologic information for a 360-degree interpretation of the physics driving well, pad, and unit development performance. View the full article
Outside of the U.S. and OPEC, Brazil is set to add more crude production through 2026 than any other country. It wants to double crude output by 2030 to become the world’s fifth-largest exporter, and even if it doesn't hit that target, low-cost oil plays have positioned the country well to emerge as one of the world's most important sources for production growth. View the full article
Oil squeezed out its first weekly gain in three on signs that global demand is holding up despite concerns that the renewed spread of the virus could stall the recovery. View the full article
Iraq is spending billions of dollars to ramp up gas production and reduce its reliance on imports from Iran, which it uses primarily to power its electricity plants. View the full article
Venezuela’s state-owned oil company imported a key component needed to achieve its goal of almost tripling crude production, defying U.S. efforts to isolate the Maduro regime’s grip on power. View the full article
Under the agreement, Germany commits to taking action if Russia tries to use energy as a weapon against Ukraine, a decision that may mark a concession from Chancellor Angela Merkel, who had previously balked at making independent moves against the Kremlin over the gas pipeline. View the full article
Oil jumped the most since mid-April amid broader market gains and after a U.S. government report showed declining fuel and distillate stockpiles during the high-demand summer driving season. 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
Halliburton and Nabors Drilling are working to connect digital well planning from Well Construction 4.0 with onsite execution using the Nabors’ SmartRig system, helping customers increase efficiencies, access well elements and real-time information. 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.