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TC Energy Corporation confirmed that after a comprehensive review of its options, and in consultation with its partner, the Government of Alberta, it has terminated the Keystone XL Pipeline Project. View the full article
Woodside Petroleum is in advanced talks to buy BHP Group’s petroleum division for about A$20 billion ($14.7 billion), the Australian Financial Review reported on Sunday, citing people familiar with the matter. View the full article
Crude topped $81 a barrel as the global power crunch boosts demand for oil ahead of winter. View the full article
Iran wants to pump more oil than it did before the Trump administration tightened sanctions, a top official said ahead of high-level nuclear talks whose outcome would directly impact the country’s energy-market ambitions. View the full article
Cost-efficient emissions reductions of up to 87% on offshore oil and gas platforms could be achieved using alternative power sources, according to the winners of a competition launched to accelerate electrification of oil and gas assets in the North Sea. View the full article
The Department of the Interior announced that Texas has been awarded an initial grant of $25 million from the Infrastructure Investment and Jobs Act to begin work to plug, cap and reclaim orphaned oil and gas wells across the state. View the full article
The market is likely underestimating the impact from an unprecedented polar blast that hit the central U.S. last week, while some 40 million barrels of February oil output, largely from the Permian basin, will not be produced due to the recent Texas freeze. View the full article
Tenaris is pushing ahead with plans to increase its operations across the US, bringing its facilities in the Northeast back online. With the ongoing expansion, Tenaris is working to boost its employee base in the States by about 1,000. View the full article
TC Energy Corporation confirmed that after a comprehensive review of its options, and in consultation with its partner, the Government of Alberta, it has terminated the $9 billion Keystone XL Pipeline Project. View the full article
Oil sank for a third consecutive day as Chinese economic data disappointed and the spread of the delta coronavirus variant hurt prospects for global demand. View the full article
Oil prices around $80 a barrel are once again spurring a revival of shale drilling in America’s biggest oil field, where production is expected to return to pre-pandemic highs within weeks. View the full article
Enbridge Inc.’s proposal to keep its massive Mainline oil pipeline network full through long-term contracts was rejected by Canada’s top energy regulator in a win for some producers who want more flexibility to ship their crude. View the full article
Seaborne exports of Russia’s crude rebounded in the seven days to April 22. One-fifth of the volume shipped from ports on the Black Sea, Baltic and Arctic coasts is on tankers showing no final destination, with most expected to end up in Asia. View the full article
In an effort that has been underway for several years and is now set against a backdrop of triple-digit oil prices, oil and gas companies are continuing attempts to devise new methods of increasing production from existing unconventional wells. View the full article
Bradesco BBI, BTG Pactual, Credit Suisse, JPMorgan, Nau Securities, Santander, Scotiabank and XP Investimentos cut their ratings on the shares after Brazilian President Jair Bolsonaro on Friday decided to fire the oil company’s CEO following a spat over hikes in fuel prices and moved to appoint Joaquim Silva e Luna, a former army general, as a replacement. View the full article
A new kind of power plant that doesn’t add greenhouse gases to the atmosphere is being built in the U.S., potentially providing a way for utilities to keep burning natural gas without contributing to global warming. View the full article
Expected declines in demand for fossil fuels are compelling major oil and gas companies to actively restructure their businesses to add renewable power projects in their portfolio. This will help these companies reduce their carbon intensity and align with the changing energy mix in the long run, according to GlobalData. View the full article
Tracerco has been awarded three subsea inspection contracts to provide critical asset integrity data on pipelines of a major operator in the Gulf of Mexico. View the full article
Australia should include “caveats” in any net-zero greenhouse-gas emissions pledge to allow it to suspend climate-change commitments should regional areas of the economy be negatively impacted, according to a senior government lawmaker. View the full article
The oil producers’ group OPEC+ will likely take a cautious stance when deciding this coming week whether to go ahead with planned output increases after the emergence of a new coronavirus variant sent crude prices tumbling, according to Vitol Group. View the full article
Economy Minister Robert Habeck said Germany has already cut its reliance on Russian oil enough to make a full embargo “manageable,” potentially laying the groundwork for a continent-wide ban that would upend the global trade in petroleum. View the full article
Swagelok Company, a solutions provider of fluid system products, assemblies, and related services, is marking its 75th year in business by expanding its workforce on Cleveland’s west side through the addition of positions in its existing Strongsville facility and the purchase of an existing, 135,000-square-foot building in Valley City, Ohio. View the full article
Proponents of expanded renewable forms of energy (and opponents of fossil fuel energy, including petroleum) have taken this catastrophe as an opportunity to demonize natural gas, suggesting that falling natural gas supplies were the primary source of the loss of power supply. View the full article
AFG Holdings, Inc. announced that its Board of Directors has appointed Michael Walter as Chief Executive Officer, effective immediately. Mike succeeds Curtis Samford following his unexpected passing in February. View the full article
The transaction, which is expected to close in the third quarter of 2021, includes approximately 25,000 net acres in the Southern Delaware Basin in Texas with current production of approximately 10,000 barrels of oil equivalent per day from about 360 active wells. 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.
