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Oil prices showed signs of recovery in advance of multiparty negotiations taking place in Vienna later on Tuesday, though the chances of a breakthrough are seen by analysts as slim. View the full article
Chevron and top American oil-service companies won an extension to keep a limited presence in Venezuela despite U.S. sanctions intended to starve President Nicolas Maduro’s regime of petrodollars. View the full article
TotalEnergies SE is weighing taking a stake in what will be the world’s largest offshore wind farm, according to people familiar with the matter, as the French oil major continues to flex its green credentials. View the full article
Natural gas producer Vine Energy has signed a contract with global Baker Hughes to deploy its artificial lift solution, ProductionLink Edge, across 100 natural gas wells in Louisiana’s Haynesville Shale. View the full article
President Joe Biden urged the Federal Trade Commission to probe possible illegal conduct in U.S. gasoline markets, though any inquiry by the agency is unlikely to have an immediate impact on pump prices paid by consumers. View the full article
As the M&A market marched into the new year, $14 billion in deals were announced during the first quarter of 2022. The $6 billion transacted in January was the strongest M&A market launch in five years. View the full article
BP sold out of Canada’s oil sands, divesting its stake in the Sunrise project to Cenovus Energy Inc. while acquiring offshore exploration from the same company in the east of the country. View the full article
Russia defied expectations of a collapse in oil production following its invasion of Ukraine. But Moscow will have to redouble its efforts to find new buyers if it’s to keep output from shrinking in the coming months. View the full article
The loan for the Scarborough project, which is scheduled to deliver its first LNG shipment in 2026, will come from the Japan Bank for International Cooperation. The public financial institution has stepped-up efforts to secure LNG, including granting loans for fuel purchases. View the full article
Saipem will operate the vessel and will provide the crew to perform the marine activities for the Shah Deniz and Azeri-Chirag-Gunashli fields, located offshore Azerbaijan. The consortium’s responsibilities include engineering, procurement, construction and installation of subsea infrastructures and life-of-field services. View the full article
Jindal Power Ltd. is walking away from a venture that would have operated an oil-processing facility for Venezuela’s state-controlled crude producer, according to people familiar with the matter. View the full article
(Bloomberg) – Kuwait Petroleum Corp. plans to spend about 10 billion dinars ($33 billion) over five years to ramp up oil production capacity, betting on robust demand for decades to come. View the full article
American refiners are processing the most crude since the economy ground to a halt in March in anticipation of a vaccine-driven boost in gasoline demand this summer. The uptick means that the refiners are competing for domestic barrels that for months were sent to more robust markets in Asia. View the full article
VARD has secured contracts for the design and construction of three Service Operation Vessels (SOVs) for North Star Renewables in Scotland. The state-of-the-art hybrid trio will operate on the Dogger Bank Wind Farm in the North Sea. View the full article
“The strategic approach to digital transformation, the adoption of the OSDU Data Platform, and the DELFI environment position PETRONAS among the digital leaders of the industry, and we are proud to be supporting them in this journey,” said Rajeev Sonthalia, president of Digital and Integration, Schlumberger. View the full article
Russia is supplying more oil to the U.S. than any other foreign producer aside from Canada as American refiners scour the globe for gasoline-rich feedstocks to feed surging motor-fuel demand. View the full article
Schlumberger and AVEVA announced an agreement to integrate edge, AI and cloud digital solutions to help operators optimize oil and gas production. View the full article
Oil tumbled to the lowest in nearly six weeks as investors considered the prospect of a release of crude supplies from strategic reserves. View the full article
Eni SpA signed a framework agreement to boost flows of liquefied natural gas from Egypt to Italy, as European nations step up efforts to wean themselves off Russian energy in the wake of Moscow’s attack on Ukraine. View the full article
The NSTA has launched this carbon storage licensing round in response to unprecedented levels of interest from companies eager to enter the market. View the full article
Nigerian President Muhammadu Buhari’s flip-flop over the sale of Exxon Mobil Corp.’s assets could discourage investment in Africa’s largest oil producer in the wake of industry reform meant to grow the sector. View the full article
The message, sent in a letter Wednesday to Energy Secretary Jennifer Granholm, comes as Biden administration officials have hinted they may be willing to release oil from the Strategic Petroleum Reserve to tamp down gasoline prices amid forecasts for a spike this summer. View the full article
This year’s Economic Report from the Permian Strategic Partnership (PSP) emphasizes the area’s status as the second lowest producer of CO2 emissions per barrel of oil equivalent among the major onshore producing basins worldwide. View the full article
New momentum in Vaca Muerta means Argentina could export gas to Brazil as soon as next year. But instead of just importing the fuel, Petrobras would like to be involved on the production end, people familiar with the matter said. View the full article
NDT Global has launched a new 56-inch ultrasonic inline inspection tool, developed in partnership with Aramco, to meet the specific inspection needs of large-diameter pipelines. 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.
