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Neptune Energy has begun an infill drilling campaign at its operated Cygnus gas field in the southern North Sea, with the potential to unlock enough gas to heat an additional 200,000 UK homes per year from this winter. 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
A U.S. government report showed domestic crude inventories fell by 5.89 million barrels last week, the biggest decline in two months, bringing nationwide supplies to the lowest since late February. A gauge for gasoline demand ticked higher for a seventh straight week. View the full article
Canadian Natural Resources, Cenovus Energy, Imperial, MEG Energy and Suncor Energy formally announced the Oil Sands Pathways to Net Zero initiative. “The initiative is an industry driven, made-in-Alberta solution which will strengthen our position as global ESG leaders,” said Sonya Savage, Alberta’s Minister of Energy. View the full article
America’s energy technology and services sector added an estimated 6,082 jobs in July, a fifth straight month of growth, according to preliminary data from the Bureau of Labor Statistics and analysis by the Energy Workforce and Technology Council. View the full article
The U.S. may be heading into winter with the lowest stockpiles of heating oil to meet surging demand in more than two decades. View the full article
Oil fluctuated following the announcement of a coordinated release of strategic petroleum reserves, with the additional supply unlikely to tame price gains in some pockets of the market. View the full article
Nigeria expects to raise its daily crude production closer to its OPEC quota in about two weeks as authorities re-open wells that had to be shut to keep criminals at bay. View the full article
Aimed at unlocking the geological capacity of the complex, a conventional oil development located in deep water in Equatorial Guinea comprising five producing oilfields, the upgrade will convert 15 gas lift wells to electrical submersible pumps. View the full article
ADNOC Drilling Company signed a sale and purchase agreement to acquire an additional premium offshore jack-up drilling unit (rig) for $70 million. View the full article
A Nigerian court restricted Royal Dutch Shell Plc’s access to its bank accounts in the West African country amid a legal dispute with a local oil producer over a pipeline deal six years ago. View the full article
The National Ocean Industries Association (NOIA) Board of Directors has elected Tim Duncan, President and CEO of Talos Energy, as Chairman and Paul Danos, Owner, President and CEO of Danos, as Vice Chairman for the 2021-22 term. View the full article
Talos Energy has formed an exclusive joint venture with Storegga Geotechnologies to source, evaluate and develop carbon capture and storage project opportunities on the United States Gulf Coast and Gulf of Mexico, including state and federal waters. View the full article
Brazil alone is expected to contribute around 23% or 1.3 million barrels per day of global crude oil and condensate production in 2025 from key offshore planned and announced projects that are expected to start operations between 2021 to 2025, according to GlobalData. View the full article
The controversial Nord Stream 2 pipeline has the potential to ease Europe’s gas crisis, and Russia says the project is on track. But obstacles remain -- and some of them could take months to clear. View the full article
OPEC expects that oil stockpiles released by consuming nations could massively swell the surplus in global markets. View the full article
Discovered via a trio of wells drilled by the Valaris DS-12 drillship in 2019, the high-quality gas at BirAllah represents the largest deep water gas discovery of 2019 and the third largest overall. View the full article
Oil leaders and their allies on Capitol Hill are panning the approach, saying it does nothing to address more fundamental problems holding back U.S. crude and gasoline production. View the full article
New figures show domestic gas production in the first half of 2022 was 26% higher than the same period in 2021, which is enough to heat almost 3.5 million UK homes for a year. View the full article
Angolan lawmakers revoked a ban on exploration for crude and natural gas in protected natural reserves, including the Kassanje Basin and the wildlife-rich Okavango River Basin. View the full article
Talos Energy, along with affiliates of BP and Chevron U.S.A. announced successful drilling results from the Puma West exploration project located in the U.S. Gulf of Mexico Green Canyon Block 821. View the full article
“Longtail-3, combined with our recent discovery at Uaru-2, has the potential to increase our resource estimate within the Stabroek block, demonstrating further growth of this world-class resource and our high-potential development opportunities offshore Guyana,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. View the full article
Brazil alone is expected to contribute around 23% or 1.3 million barrels per day of global crude oil and condensate production in 2025 from key offshore planned and announced projects that are expected to start operations between 2021 to 2025, according to GlobalData. View the full article
Equinor ASA, the flagship producer of oil and gas giant Norway, is investing billions of dollars in blue hydrogen on a bet that it can make the fuel more cleanly than anyone else. View the full article
This Northern North Sea study, available for license, provides an in-depth review of potential CO2 storage plays in a region extending over CGG’s North Viking Graben 3D seismic dataset, including areas in both UK and Norwegian waters. 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.
