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Futures dropped back below $69 a barrel on Tuesday, mirroring wider markets where the dollar rose and U.S. equity futures pared gains as the recent surge in various assets brought on inflation concerns. View the full article
Canadian oil production is more than two and half times domestic demand, yet the majority of crude oil demanded in the country arrives via the United States, according to a new analysis by IHS Markit. View the full article
Low-carbon hydraulic fracturing is gaining traction across the U.S. But since it still extracts the very oil and gas that fossil-fuel critics want the world to stop consuming altogether, not everyone’s convinced. View the full article
After many weeks of signaling and speculation, a group of major oil consumers including the U.S. has announced a coordinated plan to tackle soaring energy costs by releasing crude from strategic reserves. The question now is whether it’s going to work. View the full article
Environmentalists are calling on the Biden administration to crack down on methane leaks from low-producing U.S. oil wells, after new research shows they are releasing a disproportionate share of the potent greenhouse gas. View the full article
Energean plc announced that it has extended its growth drilling program by exercising its options to drill two further wells with Stena Drilling Limited and to provide an update on the initial results of the KM-04 appraisal well. View the full article
TotalEnergies and Eni made a significant gas discovery at the Cronos-1 well, in Block 6, offshore Cyprus. This discovery follows the Calypso-1 discovery made on the same Block in 2018. View the full article
“At Petronas, we are continuously looking to create value with disruptive technologies that offer optimum solutions. Utilizing AVEVA Unified Supply Chain software, we have been able to adopt a more integrated business process, that optimizes our productivity, allowing us to deliver with less,” said Yusri Yusof, vice president of refining and trading at Petronas. View the full article
Oil futures dropped back below $69 a barrel on Tuesday, mirroring wider markets where the dollar rose and U.S. equity futures pared gains as the recent surge in various assets brought on inflation concerns. View the full article
Above-average withdrawals of natural gas from storage in the 2020–2021 winter heating season and below-average injections into storage this summer contributed to a forecast of below-average inventories of natural gas in the U.S., along with relatively flat dry natural gas production and high natural gas exports. View the full article
U.S. shale oil production will expand at a “modest rate” over the next 18 months even as prices touch multiyear highs, according to BloombergNEF, leaving OPEC in a powerful position as the world cries out for more barrels. View the full article
The Biden administration’s unprecedented, coordinated attempt to tame oil prices by authorizing one of the biggest ever draw-downs of U.S. crude reserves has elicited a collective shrug from the shale patch. View the full article
North Sea Investment Forum announced that Greg Hands MP, UK minister of state for business, energy, and clean growth, will deliver the ministerial keynote to kick off the North Sea Investment Forum in London on June 23. View the full article
Neptune Energy, ExxonMobil subsidiary XTO Netherlands, Ltd., Rosewood Exploration Ltd., and EBN Capital B.V. announced the signing of a Cooperation Agreement to progress the L10 large-scale offshore carbon capture and storage project in the Dutch North Sea. View the full article
GATE Energy, the Houston-based engineering, commissioning and field services firm, announced that it has been awarded the commissioning management and execution contract for LLOG's Salamanca development. View the full article
A fourth weekly decrease in crude inventories and the decline in production highlights the steady downtrend in U.S. supplies before an unprecedented cold blast wiped out nearly 40% of domestic output. Still, demand for crude and fuel is weaker with the cold weather spurring a string of refinery outages and keeping more Americans off the road. View the full article
Crude production in the Permian basin will reach 4.466 million barrels a day in May, the most in a year, and rig counts have touched a one-year high, according to the latest data from the Energy Information Administration. View the full article
Gender diversity remains a challenge in the U.S. shale patch, where fewer than two of every 10 jobs are held by women, according to the latest study by a trade group representing the hired hands of the oil field. View the full article
Royal Dutch Shell Plc’s Nigerian unit agreed to pay a community in the West African country more than $110 million to resolve a long-running dispute over an oil spill that occurred more than 50 years ago. View the full article
Oil declined by the most in two weeks in the wake of growing U.S. inventories and after Russia signaled it is ready to help ease a global energy crisis. View the full article
President Joe Biden’s effort to tame pump prices by tapping government oil stockpiles could backfire for one simple reason: American gasoline prices more closely track international, rather than U.S., oil benchmarks. View the full article
Eni SpA became the second foreign firm to win a stake in a $29 billion project that will expand Qatar’s production of liquefied natural gas as the energy crisis in Europe escalates and prices climb. View the full article
Malaysian state oil company Petroliam Nasional Bhd. has started inviting bids for its upstream assets in Africa, which could fetch as much as $3 billion, people with knowledge of the matter said. View the full article
The acquisition deepens Baker Hughes’ industrial asset performance management capabilities and will expand the company’s industrial asset management offerings. View the full article
Chevron's investment in Ocergy, Inc. is part of a $300 million-a-year plan to foster early-stage technologies that may play a future role in the energy transition. 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.
