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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
Petro-Victory Energy Corp. secured 19 new oil and gas blocks in the company's core operating area, the Potiguar Basin onshore Brazil, the company announced. 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
Some of the largest firms are already voluntarily divulging their greenhouse-gas emissions, but the lack of government regulation and unified reporting underscores the challenges investors face when comparing inconsistent data across companies. View the full article
The world’s largest oil companies are bidding up prices for renewable energy projects, squeezing profits from wind and solar farms just as climate planning focuses more on green energy sources. View the full article
U.S. crude futures closed modestly higher after OPEC+’s relatively harmonious decision to gradually raise supply and a bullish U.S. oil inventory report. View the full article
In a weekly online briefing on Thursday, May 12, DTEK CEO Maxim Timchenko discussed Ukraine’s energy security. He provided an update on energy sector operations and restoration of electricity supply amid the Russian invasion. View the full article
With demand still fragile, shale companies “are wise not to jump the gun and overproduce during the recovery year,” UAE Energy Minister Suhail Al Mazrouei said in an interview, adding they “need to be careful not to flood the market.” View the full article
The virus is clouding the outlook for consumption as China faces a fresh outbreak, Thailand expands its quasi-lockdown measures and infections in Sydney matched a record. Meanwhile, data indicated China’s economic activity eased in July and U.S. manufacturing data also showed some weakness. View the full article
The Biden administration moved Tuesday to resume selling oil and gas drilling rights in the Gulf of Mexico and throughout the western U.S., after a judge ruled the president’s leasing pause was unlawful. 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
Touchstone Exploration Inc. is preparing for the Trinidad and Tobago Environmental Management Authority to make a final decision on a Certificate of Environmental Clearance for its oil and gas exploration project by September 15. View the full article
The Trump administration’s approval of a ConocoPhillips oil field project on Alaska’s Northern Slope was rescinded by a federal judge who said it failed to adequately protect polar bears and didn’t properly consider the effects on climate change. View the full article
Transocean Ltd. is planning to raise cash and cut debt by selling new shares, taking advantage of a surge in its stock price driven by the meme-stock frenzy and rising oil prices. View the full article
OPEC and its allies recommended proceeding with plans to gently revive oil production as global demand recovers from the pandemic, despite surging infections in India. View the full article
The Biden administration is poised to issue new cybersecurity regulations for pipelines and liquefied natural gas facilities in the aftermath of the April hack that temporarily paralyzed the nation’s biggest liquid fuel conduit. View the full article
“Since it began commercial operations in 2002, Malampaya has supplied a significant portion of the Philippines’ energy demand and it will continue powering the country with indigenous gas following a safe transition of the asset and its experienced workforce,” said Wael Sawan, Shell’s Upstream Director. View the full article
Guyana has some of the world's biggest offshore discoveries made in years, with 10 billion barrels of recoverable oil and gas starting to come online since 2019. Sulzer has delivered 11 high pressure water injection pumps, and the latest order for five more HPcp pumps will support the largest FPSO in the Stabroek block. View the full article
Russia is keeping a tight grip on Europe’s energy market, opting against sending more natural gas to the continent even after President Vladimir Putin said he was prepared to boost supplies. View the full article
Exxon Mobil Corp. and Chevron Corp. are plowing windfall profits into share buybacks as soaring energy prices boost their cash flow. View the full article
While gasoline and diesel demand have returned to pre-pandemic levels, a surge in petroleum use for products such as plastic, asphalt, lubricants and other industrial needs is propelling the recovery. View the full article
Halliburton and Nabors Drilling are working to connect digital well planning from Well Construction 4.0 with onsite execution using the Nabors’ SmartRig system, helping customers increase efficiencies, access well elements and real-time information. View the full article
Eni SpA, one of Europe’s largest oil companies, said it unwittingly purchased a consignment of crude from Iran -- an act that would have breached U.S. sanctions. View the full article
While there are several one-off factors that have pushed gas prices higher, such as supply disruptions, the global economic rebound and a lull in new LNG export plants, there is a growing consensus that the world is facing a structural shift, driven by the energy transition. 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
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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.