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Moscow is considering making a proposal that the group should ease a global supply deficit by increasing output, according to Russian officials familiar with the matter. Other OPEC+ nations are also discussing a potential supply hike in August, although specific numbers haven’t been mentioned. View the full article
The American Petroleum Institute announced that Will Hupman is returning to API as Vice President of Downstream Policy. In this role, Hupman will lead the API Downstream department and coordinate downstream issues across the organization to help advance API’s mission. View the full article
Oil squeezed out its first weekly gain in three on signs that global demand is holding up despite concerns that the renewed spread of the virus could stall the recovery. View the full article
The Noia Oil and Gas Conference 2021 concluded after two highly successful days discussing the recent challenges faced but with a keen focus on creating a successful future for the Newfoundland and Labrador offshore oil and gas industry. View the full article
Investors placed more than $34 billion of orders for Abu Dhabi-based ADNOC Drilling Company PJSC’s $1.1 billion initial public offering, further underscoring the global clamor for equity deals. View the full article
Exxon Mobil is pulling out of a deep-water oil prospect in Ghana just two years after the west African nation ratified an exploration and production agreement with the U.S. oil titan. View the full article
Scotland's First Minister Nicola Sturgeon asked the UK government to reassess oil and gas fields that have been licensed but not yet developed, such as the Cambo development west of Scotland’s Shetland Islands. Green groups say that's not enough. View the full article
Highwood Equipment Technologies Inc. is transporting two of the world’s most advanced automated well service rigs to the Sultanate of Oman. View the full article
BP Plc and Russia’s Lukoil PJSC want to sell down their assets in Iraq, according to the country’s oil minister. View the full article
TechnipFMC has been awarded a significant engineering, procurement, construction and installation contract by Shell plc for the Jackdaw development, located in the United Kingdom North Sea. View the full article
How the UK government finds itself mounting a tax raid on the oil and gas industry, while simultaneously breaking a promise not to offer fossil fuel producers incentives to drill more, shows how the invasion of Ukraine has turned the world of energy on its head. View the full article
A potential release from the U.S. Strategic Petroleum Reserve intended to bring down gasoline prices may have little effect, oil market participants warn, even as the Biden administration floats the idea as a way to provide immediate relief at the pump. View the full article
Solstad Offshore, DeepOcean Group and Østensjø Group have joined forces to fast-track the adoption of remotely managed services to drive down operating costs and emissions for the marine and offshore industries. View the full article
Oil futures dropped back below $69 a barrel on Tuesday, mirroring wider markets where the dollar rose and U.S. equity futures pared gains as the recent surge in various assets brought on inflation concerns. View the full article
As global natural gas markets continue to tighten and Europe braces for a challenging winter, the American Petroleum Institute and the International Association of Oil and Gas Producers released a new analysis of Europe’s natural gas market and highlighted the immense potential of U.S. LNG to help Europe strengthen its energy security. View the full article
Hungary is one of the EU nations most reliant on Russia for energy, and has seen the cost of oil and gas imports soar to an estimated $19 billion this year from $4 billion in 2019, according to government data. View the full article
Oil held gains near the highest since 2018 amid a global energy crunch that’s set to increase demand for crude, while stockpiles are falling from the U.S. to China. View the full article
Israel should cancel the oil pipeline deal with a group of United Arab Emirates investors out of environmental concerns, the country’s minister of energy said, casting doubt over a politically-sensitive agreement that tests new diplomatic relations. View the full article
At an open meeting of the Railroad Commission of Texas, Commissioner Wayne Christian was unanimously elected Chairman for a second time. View the full article
Some of the worst fire conditions in a decade are going to sweep across Texas and the southern Great Plains, threatening key shale-oil fields, slaughterhouses and farms. View the full article
GATE Energy has been selected by Shell Offshore as the provider for facility commissioning of the Whale development. Scope includes commissioning planning, onshore commissioning execution, and offshore commissioning / ready-for-startup services. View the full article
A coastal California county’s attempt to curb new oil and gas development suffered another blow when an appeals court upheld a ruling striking down a ban on new wells and hydraulic fracturing. View the full article
It’s been a roller-coaster ride for natural gas this year, with most of the time spent climbing to newer heights. The worst is far from over with frigid winter weather on the horizon for many parts of the world, while fears remain that the market may stay out of balance through much of next year. View the full article
While Ebrahim Raisi’s presidential win isn’t expected to derail efforts to return the U.S. to the accord, the change in administration in Tehran has complicated diplomacy. View the full article
The Texas oil refinery that Pemex is buying has racked up a rare net loss of about $360 million this year, adding to the challenges Mexico faces in seeking energy independence. 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.
