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Yemen’s Houthis said they attacked several of Saudi Aramco’s facilities with drones and ballistic missiles on Friday, the latest in a spate of strikes on Saudi Arabia’s oil infrastructure. View the full article
Girish Saligram, Weathrford's President and CEO said "We believe this is the right time in our reemergence to relist on the NASDAQ stock exchange and that doing so will enhance long-term shareholder value by improving the Company's visibility, expanding liquidity in our ordinary shares, and providing a broader institutional investor base the opportunity to invest in the new Weatherford." View the full article
Noia is deeply concerned about the potential to decommission and abandon the Terra Nova Project after Suncor Energy on Friday issued Expressions of Interest related to the Terra Nova Floating, Production Storage and Offloading (FPSO) vessel located on the Terra Nova offshore field. View the full article
The world’s largest independent oil trader expects crude’s rally to continue on the assumption any OPEC+ output hikes will fail to keep pace with growth in demand. View the full article
Devon Energy and ConocoPhillips are among potential suitors studying Royal Dutch Shell's portfolio of Permian Basin oil fields, which could be worth as much as $10 billion in a sale, people familiar with the matter said. Chevron is also among companies considering bids for the assets, which are largely located in West Texas, the people said. View the full article
Futures in New York slipped 0.9% on Tuesday for a third straight session of losses, following a surge earlier this month to intraday levels last seen in 2018. Though there are indications of growing demand in some parts of the world, other regions -- notably Europe -- are lagging. View the full article
As U.S. President Joe Biden weighs alternatives to lower fuel prices, one move that could bring immediate relief at the pumps is sparking debate: adjusting the Bush-era renewable fuel mandate. View the full article
Mexican President Andres Manuel Lopez Obrador has sought to clamp down on private competition to state-owned companies, saying in October he intends to protect the interests of state oil producer Pemex and electricity firm Comision Federal de Electricidad. At the time, he accused foreign companies of ransacking the country. View the full article
The unprecedented oil inventory glut that amassed during the coronavirus pandemic is almost gone, underpinning a price recovery that’s rescuing producers but vexing consumers. View the full article
Yemen’s Iran-backed Houthi rebels said Friday they attacked Saudi Aramco in the capital Riyadh using six bomb-laden drones, stepping up their offensive on Saudi Arabia’s energy and security installations. View the full article
With the takeover by Chrysaor expected to complete by the end of March, Premier Oil will start trading under its new name, Harbour Energy Plc, on April 1. Putting behind it a multibillion-dollar debt pile, the firm should be well-positioned to ride the recovery in oil demand and boost investor returns. View the full article
“If nothing extraordinary happens, we have already formed our three-month plans,” Russia’s Deputy Prime Minister Alexander Novak told reporters in Moscow on Wednesday, “Our task will be to look at these plans and maybe confirm or adjust them - yet most likely, this is the meeting to assess the current situation,” he said. View the full article
In the past, environmental activist investors were limited to the odd shareholder proposal, inevitably rebuffed by the boards and management teams. On Wednesday by contrast, shareholders ousted two Exxon Mobil directors seen as insufficiently attuned to the threat of climate change, while Chevron shareholders voted for a proposal to compel the company to reduce pollution by its customers. View the full article
The project would be the first of its kind in the Mediterranean, Energean CEO Matthaios Rigas said at a conference Wednesday. View the full article
Rising global oil prices are translating into shortages at the pump in cash-strapped Lebanon, with motorists lining up for hours to fill their tanks in the latest blow to living standards in the Middle Eastern nation. View the full article
Led by $2.59 billion asset transaction with BP Exploration (Epsilon), Middle East and Africa’s oil and gas industry saw a drop of 32.92% in deal activity during Q1 2021, when compared to the last four-quarter average, according to GlobalData’s deals database. View the full article
Schlumberger said annual sales will rise the most in 11 years as concern over inadequate energy supplies outweighs recessionary fears among major oil explorers. View the full article
If the first initial public offering of a U.S. shale driller in four years is any indication, Wall Street is still souring on the U.S. oil and gas patch. View the full article
Oil production across American shale patches next year is expected to climb as producers take advantage of a price recovery, according to a government report. View the full article
TotalEnergies SE is investing about $1.5 billion in Qatar’s latest, mammoth natural gas development, just three months after buying into another of the nation’s expansion projects. View the full article
The organizations - who represent more than 11 million American skilled workers keeping the lights on and fuels flowing - encouraged the administration to recognize domestic energy resources as a strategic asset for U.S. national and economic security. View the full article
The world’s biggest crude exporter is boosting April pricing for crude exports eastwards to the highest levels since just before the Saudis unleashed a brief price and supply war a year ago. View the full article
A preliminary deal struck on Thursday to increase oil production by 400,000 barrels per day was thrown into chaos when the United Arab Emirates threatened to block the deal without a higher output quota for itself. View the full article
YPF is aiming for capital expenditures this year of $2.7 billion, as it tries to halt four years of production declines. After the coronavirus pandemic decimated revenue and the debt swap yielded limited results, getting there will require increasing fuel prices, cutting drilling costs, selling local debt, and maybe divesting assets. View the full article
The revision, which mainly affects the next few months, follows a recommendation from OPEC Secretary-General Mohammad Barkindo that the coalition should remain very cautious. 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.
