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The latest data from the group indicate that the world will continue to face an oil supply deficit in the coming months even as its members revive idle production. View the full article
West Virginia Senator Joe Manchin stands alone among his fellow Democrats, recognizing the long-term economic damage Biden's $3.5T liberal wish list would inflict on America’s ability to meet its own energy needs, and compete in the global economic arena. View the full article
Abu Dhabi National Oil Co. is seeking to raise about $750 million from its drilling unit’s IPO, in what would rank among one of the largest share sales in the United Arab Emirates. View the full article
The latest data from the group indicate that the world will continue to face an oil supply deficit in the coming months even as its members revive idle production. View the full article
West Virginia Senator Joe Manchin (D), who commands a linchpin vote in the Senate, is at the center of a lobbying crossfire over President Joe Biden’s $3.5 trillion economic package, with the energy industry and environmental advocates both vying for his support. View the full article
Oil climbed above $70 a barrel in New York after three weeks of gains as investors tracked the slow restoration of supplies in the Gulf of Mexico and the outlook for demand and inventories over the fourth quarter. View the full article
Royal Dutch Shell is gearing up to restart oil pipelines off the U.S. Gulf Coast, potentially moving the region’s top driller one step closer to restoring some production shut by Hurricane Ida. View the full article
Phillips 66 may idle a New Orleans-area refinery that suffered so much damage during Hurricane Ida that repairs may be too costly, according to people familiar with the operation. View the full article
Phillips 66 may idle a New Orleans-area refinery that suffered so much damage during Hurricane Ida that repairs may be too costly, according to people familiar with the operation. View the full article
California is asking the federal government to declare an “electric reliability emergency” so the Golden State can lean more heavily on fossil fuels to avoid blackouts. View the full article
Amid rising shareholder pressure on climate issues, Chevron is proactively forging climate-friendly joint ventures with an array of startups as well as corporate giants that include Caterpillar Inc., and Alphabet Inc.’s Google. View the full article
Libya’s oil production is in danger of slumping again, as a political power struggle threatens to end a period of relative stability. View the full article
“These discoveries are part of an extensive well program in the Stabroek Block utilizing six drillships to test play extensions and new concepts, evaluate existing discoveries and complete development wells for the Liza Phase 2 and Payara projects,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. View the full article
Natural gas won’t count as clean energy under a House Democratic plan that would eventually rid the electric grid of carbon and is part of the $3.5 trillion tax-and-spending package moving through Congress. View the full article
Nigeria has sent a signal that the recovery in global oil demand still has some way to go, with volumes for next month’s loading struggling to find a home, even among its main customers. View the full article
Mexico President Andres Manuel Lopez Obrador is raising Pemex’s spending plan for next year to about $32 billion in a bid to boost flagging oil production. View the full article
China made an unprecedented intervention in the global oil market, releasing crude from its strategic reserve for the first time with the explicit aim of lowering prices. View the full article
Saudi Aramco is considering a bold move to open up one of the world’s largest unconventional gas fields to foreign investors, as it looks to fund a $110 billion project to help it diversify from oil sales, people familiar with the matter said. View the full article
Mexico cut its forecast for oil production at Pemex next year and reduced its tax burden after a string of accidents at offshore platforms signaled the highly indebted state company is struggling. View the full article
“The commitments shown by Suncor Energy, Cenovus Energy, and Murphy Oil are extremely positive for the Newfoundland and Labrador offshore oil and gas industry," Noia CEO Charlene Johnson said in a statement. View the full article
Higher consumption across major economies is buoying oil prices that have rallied around 40% this year. Against this backdrop, the OPEC+ alliance decided to keep restoring crude supply earlier this month, citing tighter balances into year-end. View the full article
India’s Oil and Natural Gas Corp. is exploring a purchase of a significant minority stake in the $4 billion-plus Sangomar oil project off the coast of Senegal from Woodside Petroleum Ltd., according to people familiar with the matter. View the full article
Gazprom PJSC is planning to start flowing natural gas through one of the world’s most controversial pipelines next month, according to people with direct knowledge of the company’s plan. View the full article
The decline in DUCs in most major U.S. onshore oil-producing regions, especially in the Permian region, reflects more well completions and, at the same time, less new well drilling activity. View the full article
Aker Solutions, Siemens Energy and Doosan Babcock have formed a consortium which will see the three companies draw upon more than 450 years of combined experience to develop technology and solutions for the growing UK carbon capture, utilization and storage market. 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.
