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The United Arab Emirates could become the first nation among the Organization of the Petroleum Exporting Countries to set a net-zero goal, a move that would please Western countries pushing for stronger climate commitments but won't require it to sell less oil. View the full article
The United Arab Emirates is accelerating a plan to raise its oil production capacity, according to people familiar with the matter, as it tries to cash in on its crude reserves before the world transitions to cleaner energy. View the full article
As global natural gas markets continue to tighten and Europe braces for a challenging winter, the American Petroleum Institute and the International Association of Oil and Gas Producers released a new analysis of Europe’s natural gas market and highlighted the immense potential of U.S. LNG to help Europe strengthen its energy security. View the full article
Arabian Drilling Co., a Saudi Arabian oilfield-services company partly owned by Schlumberger NV, took only hours to garner enough investor orders to fully cover an initial public offering that could raise as much as 2.67 billion riyals ($710 million). 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
Oil was poised for a third weekly gain as demand remained resilient while supplies are frayed across the OPEC+ coalition and beyond. View the full article
Oil’s forward curve suggests growing confidence, with the spread between WTI’s contracts for December this year and 2022 at the widest backwardation in about a month. Yet there are still reasons to be cautious, with India suffering a fresh wave of coronavirus infections and refiners there starting to curb processing. View the full article
Operator Neptune Energy and its partners Idemitsu Petroleum Norge, PGNiG Upstream Norway and Sval Energi today announced the safe and successful start-up of production from the Duva development in the Norwegian sector of the North Sea. View the full article
Over the last four weeks total stockpiles, including the Strategic Petroleum Reserve, have fallen at a rate of 1.15 million barrels a day, marking the largest four-week decline on a rolling basis in Energy Information Administration Data going back to 1982. View the full article
Uganda is exploring options to cut reliance on Kenya for petroleum imports by reviving shipments through Tanzania, a move that potentially jeopardizes business for its neighbor’s Mombasa port. View the full article
The U.S. became the world’s No. 1 exporter of liquefied natural gas for the first time ever last month, as deliveries surged to energy-starved Europe. View the full article
Oil slid after a U.S. government report showed a surprise increase in domestic crude stockpiles. View the full article
A new study indicates that unnecessary growth in the number of processes and procedures and lack of equipment reliability are the biggest concerns for maintenance managers in the oil and gas industry. View the full article
The market is likely underestimating the impact from an unprecedented polar blast that hit the central U.S. last week, while some 40 million barrels of February oil output, largely from the Permian basin, will not be produced due to the recent Texas freeze. View the full article
TGS, a global provider of energy data and intelligence, has expanded its coverage of numerical weather prediction (NWP) model data. The latest model covers a 400,000 square kilometers area off the East Coast US, extending from Massachusetts to North Carolina. View the full article
The Department of Energy will offer additional U.S. reserve crude for sale ahead of plans by the European Union to ban most Russian oil in December. View the full article
The ADIPEC conference, running from Nov. 15-18, is taking place in the wake of the COP26 climate talks and with energy prices soaring. Benchmark Brent crude has climbed almost 60% to above $80 a barrel, while gas prices in Asia and Europe hit record highs recently. 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
Gas flaring satellite data from 2020 reveals that Russia, Iraq, Iran, the United States, Algeria, Venezuela and Nigeria remain the top seven gas flaring countries for nine years running, since the first satellite was launched in 2012. View the full article
Schlumberger and Aramco have announced plans to collaborate and develop a digital platform that will provide sustainability solutions for hard-to-abate industrial sectors. View the full article
The project at the Port of Rotterdam could sequester about 2.5 million metric tons of carbon dioxide annually by storing it in depleted gas fields in the seabed. The four companies involved—Shell, Exxon, Air Liquide SA, and Air Products and Chemicals Inc.—will receive state backing for the plan, according to Sjaak Poppe, a spokesman for the port. View the full article
Taking place only days after COP26, the global conference will focus on developing smart manufacturing systems that will strengthen resilience, navigate growth opportunities in green technology and meet net-zero carbon targets. 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
“Reduction of climate footprint is high on the agenda for our customers in the oil and gas industry. Electrification of production platforms is one of the ways to reduce emissions from such operations,” said Kjetel Digre, chief executive officer of Aker Solutions. 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.