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As the M&A market marched into the new year, $14 billion in deals were announced during the first quarter of 2022. The $6 billion transacted in January was the strongest M&A market launch in five years. View the full article
Oil companies spent $191.7 million buying drilling rights in the Gulf of Mexico on Wednesday, during a robust government auction that underscored the industry’s appetite for new crude as the White House seeks to shifts the U.S. away from fossil fuels. View the full article
America’s energy technology and services sector added an estimated 6,082 jobs in July, a fifth straight month of growth, according to preliminary data from the Bureau of Labor Statistics and analysis by the Energy Workforce and Technology Council. View the full article
Petroleos Mexicanos is replacing its finance chief as President Andres Manuel Lopez Obrador tightens his grip on the struggling state oil giant. View the full article
Shell Offshore Inc., a subsidiary of Shell plc, will sell its 100% interest in Shell Onshore Ventures LLC to IKAV for about $2 billion, effectively ending Shell's upstream operations in California. View the full article
Liz Truss won the bitter race to succeed Boris Johnson as UK prime minister, and will take power with the country facing brutal economic headwinds that threaten to plunge millions of Britons into poverty this winter. View the full article
The American Petroleum Institute issued a statement from President and CEO Mike Sommers in advance of President Biden’s first joint address to Congress this evening. View the full article
Exxon Mobil snapped a record streak of losses as rising oil and natural gas prices bolstered one of the biggest dividends in the SandP 500 Index. 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
Timchenko said that Ukraine is the number one topic at Davos, focusing on the country’s role in the future, particularly regarding energy security. A critical part of energy security is renewables. View the full article
Proserv Controls has secured a significant contract to manufacture and deliver 22 wellhead control panels to the Basra Oil Company for use on the Majnoon Oil Field in southern Iraq. View the full article
Iran started its first transfer of crude oil via its strategic Goreh-Jask pipeline, allowing the country to bypass the Strait of Hormuz, the state-run Islamic Republic News Agency reported. View the full article
Leveraging an intelligent and dynamic downhole automated control system that instantly interprets and acts on data, Schlumberger continues to advance its digital offering enhancing well construction performance. View the full article
Taqa wants to divest itself of at least 17 fields plus stakes in the Sullom Voe shipping terminal, and the Brent and SAGE pipelines in the UK In a separate sales process, it is offering 32 Dutch oil and gas licenses, of which five are directly operated by the company. View the full article
CGG announced that Sercel and Low Impact Seismic Sources (LISS) have entered into exclusive negotiations for Sercel’s acquisition of LISS. View the full article
Saudi Aramco will supply less crude as part of long-term contracts next month, giving some Asian processors 20%-30% less than they had sought, according to company officials who received the notices but asked not to be identified as the information is private. View the full article
Iran’s oil comeback, already taking longer than many traders expected, will be further complicated by last week’s deadly drone attack on a tanker in the Gulf of Oman, which the U.S., U.K. and Israel all blamed on Tehran. View the full article
The deal includes all INEOS Oil and Gas interests in production, licenses, fields, facilities and pipelines, on the Norwegian continental shelf and continues to rebalance INEOS’ oil and gas portfolio. View the full article
ADNOC Drilling Company signed a sale and purchase agreement to acquire an additional premium offshore jack-up drilling unit (rig) for $70 million. View the full article
Lundin Energy is starting with the Johan Sverdrup field offshore Norway because the direct emissions from the project are already about 40 times lower than the world average, largely because its offshore facilities are powered by electricity. View the full article
Oil extended losses after Saudi Arabia slashed crude prices for Asian buyers, raising the prospect of fierce competition among sellers as the resurgence of Covid-19 continues to cloud the demand outlook. View the full article
(WO) — One of the more interesting and thoughtful panel sessions last week at Schlumberger’s Digital Forum in Luzern, Switzerland, was focused on the Energy Transition. The discussion of what should be done and how to do it, along with who should lead the way, was far-ranging. View the full article
The events of this year have encouraged Railroad Commissioner Jim Wright to expand his goal to include the mission at the heart of RRC: to minimize waste of Texas' natural resources. View the full article
Government-owned Abu Dhabi National Oil Co. set Murban crude at a premium of 75 cents a barrel to the regional benchmark, according to a notice from the producer. View the full article
Rollout of coronavirus vaccines and improvement in ties between the United States and China are likely to improve demand for oil, Energy Minister Suhail Al-Mazrouei told Sky News Arabia. “Recovery will be gradual, and won’t happen in a quarter or two,” he said. 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.