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Pemex fought tooth and nail to wrest control of the country’s biggest private oil find from the companies that discovered it. Now it has found itself without the cash to actually develop the field. View the full article
U.S. shale drillers are increasingly worried that swelling Russian natural gas exports will slash their European market share. View the full article
Neptune Energy and its joint venture partners, bp and JAPEX, have completed the safe and successful installation of the manifold and umbilical for the Seagull project in the UK Central North Sea. View the full article
The world’s biggest oilfield-services provider said its suspension of future investment in Russia, a market that has represented about 5% of its total sales, means it can shift its own spending to other parts of the world. View the full article
Nigeria’s Senate will investigate Shell Plc’s historic license renewals in the West African state to determine whether they were extended unlawfully and cost the government up to $200 million. View the full article
It is estimated that ESG has taken 90% of investments off the table for reliable energy over the last five years. View the full article
A robust recovery in demand from the Covid-19 pandemic had pushed prices to the highest settlement in more than a year last Wednesday, and Goldman sees the rally accelerating as consumption outpaces supply from OPEC and shale. View the full article
The Yemeni rebels launched missiles at a Saudi Aramco facility in the refinery city of Jazan, and other targets including a site housing Patriot air-defense missiles, the group’s Al-Masirah TV reported. The Houthis said they used explosive-laded drones and 11 missiles. View the full article
Pavilion Energy Trading and Supply and BP Singapore have signed a long-term LNG sale and purchase agreement for the supply of approximately 0.8 million tons of LNG per year to Singapore for 10 years from 2024. As part of the agreement, both companies will strive to co-develop and implement a greenhouse gas quantification and reporting methodology. View the full article
Reuters reports that oilfield services provider Schlumberger has withdrawn its staff from the Offshore Technology Conference, set to take place in Houston August 16 – 19, in the face of rising Covid infection rates and hospitalizations. View the full article
Major energy traders including Gunvor Group Ltd. and Mercuria Energy Group Ltd. have reduced the size of their trading positions and increased borrowing from lenders to cover large margin calls stemming from the unprecedented surge in European gas prices, according to people familiar with the matter. View the full article
President Joe Biden wants Americans to dramatically scale back their use of gasoline. And he wants that fuel to be as cheap as he can get it. If you sense a contradiction there, you’re hardly alone. View the full article
Libya’s oil ministry said fields shut down by protesters may reopen within days, potentially allowing the OPEC member to get back to full production. View the full article
TUBACEX will build a new tube and thread manufacturing plant in Abu Dhabi as part of its largest-ever award with Abu Dhabi National Oil Company. View the full article
Shell Plc, ExxonMobil Corp., Chevron Corp. and Equinor ASA plan to withdraw multibillion-dollar lawsuits against Nigeria’s state energy company after finalizing new terms for deepwater oil production in Africa’s largest crude producer. View the full article
Prepayment deals are rare in the oil world and this was meant to improve Iraq’s financial situation. While the government is still struggling, its position has improved on soaring oil prices, largely thanks to the rollout of coronavirus vaccines. View the full article
Honeywell is launching its gas cloud imaging system in Europe to provide automated and continuous monitoring for leaks of dangerous and polluting gases such as methane at oil and gas, chemical and power generation facilities across the continent. View the full article
Iran plans to restore the bulk of its crude oil production within one month of the easing of U.S. sanctions if world powers manage to broker the revival of the 2015 nuclear deal, the official Shana news agency reported, quoting an official at the National Iranian Oil Co. View the full article
The software combines innovative technology with a tightly integrated, end-to-end suite of workflows to create a complete and connected geoscience solution that enables a subsurface digital twin. View the full article
Norway’s election-winning Labor Party agreed to form a minority government with another proponent of oil exploration, the agrarian and euro-skeptic Center Party. View the full article
Oil fell sharply as a new coronavirus strain raised concerns about the outlook for demand and sent global markets spiraling. View the full article
More than 100 people died in an explosion at an illegal oil refinery in southeastern Nigeria over the weekend, demonstrating the dangers associated with an illicit industry that thrives in the crude-producing region. View the full article
Seadrill Limited, an offshore drilling contractor, announced it has been awarded contract extensions for the AOD I, AOD III and West Callisto jackup rigs for work offshore in the Persian Gulf. View the full article
Latest analysis from Westwood Global Energy Group reveals a healthy recovery roadmap for the global land rig market, driven by higher commodity pricing and mounting pressures around energy security. View the full article
The announcement comes as nations in the eastern Mediterranean ramp up investments in offshore gas fields. Egypt is seeking to become a major hub for exporting LNG to Europe, where demand is growing as governments transition from dirtier fossil fuels such as coal and oil. 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.
