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U.S. oil and gas producers recovered and reset in 2021, posting increased profits of $73.7 billion and $211.9 billion in revenues, according to the EY U.S. oil and gas reserves, production and ESG benchmarking study. View the full article
Global oil markets face a high risk of a supply squeeze this year as demand remains resilient and spare production capacity dwindles, the new head of OPEC said. View the full article
Santos Ltd. has given the go-ahead for a $2.6 billion oil field project in Alaska to expand its production beyond the Asia-Pacific region. View the full article
Among other things, Microsoft is making it possible for Exxon to analyze reams of oil field data. Amazon is helping drillers run simulations to maximize how much oil they can pump from existing wells. View the full article
Jiangsu Strong Wind Shipyard finished constructing a new floating production unit and it has been delivered to ABS Class. It will be towed from China to Indonesia for installation at the Madura Block gas fields offshore East Java, Indonesia. View the full article
While the introduction of the NNPCL promises to be advantageous to the country’s energy industry, realistically, there are certain challenges that need to be promptly and properly addressed for the new NNPCL to function effectively and achieve its objectives. View the full article
Permex Petroleum Corporation, a junior oil and gas company based in Dallas, was approved for a permit to drill on its property in Martin County, Texas. View the full article
Among other things, Microsoft is making it possible for Exxon to analyze reams of oil field data. Amazon is helping drillers run simulations to maximize how much oil they can pump from existing wells. View the full article
A last-ditch attempt by Europe to revive the Iranian nuclear deal has stoked speculation that millions of barrels of oil are set to flood world markets. The return could be swift if Tehran’s previous comeback is any guide. View the full article
A new round of windfall taxes would leave the UK facing decades of energy insecurity and heap further costs on consumers, Offshore Energies UK has warned. View the full article
Although natural gas exports from Mexico are today non-existent, seeing as it produces too little of the power-plant fuel to supply its own domestic needs, the country’s proximity to booming U.S. reserves positions it well to supply American gas to hungry buyers in Europe and Asia. 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
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
Saudi Aramco posted the biggest quarterly adjusted profit of any listed company globally driven by high crude prices and production. View the full article
Offshore Energies UK has urged government to prioritize the domestic production of energy after a House of Commons briefing showed that in June 2022, the UK imported no oil, gas or coal imports from Russia. View the full article
After the U.S. House of Representatives passed the Inflation Reduction Act, National Ocean Industries Association President Erik Milito said the bill secures some key priorities for long-term American energy security. View the full article
While the Inflation Reduction Act takes important steps toward new oil and gas leasing and investments in carbon capture and storage, it falls well short of addressing America’s long-term energy needs and further discourages needed investment in oil and gas, API said. View the full article
Exxon Mobil Corp. renewed two deepwater leases in Nigeria for 20 years, among the first permits granted under the country’s new oil and gas law. View the full article
Phase 2 of project approvals is great boost to jump start carbon capture, but all projects are needed if UK is to meet climate goals, industry body OEUK says. View the full article
Oil & Natural Gas Corp.’s profit beat estimates to rise more than three times after oil prices surged in the wake of Russia’s invasion of Ukraine and an increase in local gas prices. View the full article
The World Oil judging team selected finalists for each of the 18 categories from a pool of 303 nominations. The winners will be announced at the 2022 World Oil Awards ceremony on Oct. 13 in Houston, Texas. View the full article
As the race to number 10 accelerates, Offshore Energies UK has written open letters to Rishi Sunak and Liz Truss asking them to help consumers over the short and long term by ensuring the next cabinet prioritizes reliable and cleaner energy produced in the UK. View the full article
Shale drillers saw their debt burden fall further in the second quarter, signaling extra room for them to pay dividends, buy back shares or make acquisitions. View the full article
In a move to enhance transparency and make Texas Railroad Commission documents more widely available to the public, the agency recently completed a project to place all historic oil and gas production records online. View the full article
The American Petroleum Institute joined with nearly 60 other trade groups representing America’s natural gas and oil industry in opposing the Inflation Reduction Act as passed by the Senate. 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.
