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Bonanza Creek Energy and Extraction Oil and Gas will combine in an all-stock merger of equals, a deal worth about $2.6 billion, the companies announced. The combined company will be called Civitas Resources, Inc. and will be the largest pure-play energy producer in Colorado’s Denver-Julesburg (DJ) Basin. View the full article
Capturing greenhouse gas emissions and burying them underground is one way the world is hoping to slow global warming. It also could be a money-maker for the oil and gas firms developing the technology. View the full article
Neptune Energy announced the development of new “digital twins” of two platforms in the Dutch North Sea, which will accelerate work schedules, and reduce costs and environmental impacts by enabling engineers to work onshore. View the full article
Oil rallied at the start of the week’s trading on signs that the crude market is tightening amid a global energy crunch, with Brent closing at its highest price in three years. View the full article
China is renewing restrictions and canceling flights as a Covid-19 resurgence in Asia’s top oil consumer sends jitters across the crude market. View the full article
In its October Short-Term Energy Outlook, the U.S. Energy Information Administration forecasts that natural gas spot prices at the U.S. benchmark Henry Hub will see the highest average winter price since 2007–2008. View the full article
RRC has managed to exceed the Texas Legislature’s goals for inspections despite the global pandemic that impacted the agency’s operations and its regulated community. View the full article
While a recovery is anticipated year-on-year through 2025, it is expected to be gradual and characterized by operator caution as they navigate several important considerations - pace of global demand recovery, the energy transition, and geopolitics. View the full article
Six senior executives of Citgo Petroleum Corp. who have been detained by the Venezuelan government since 2017 were transferred from prison to house arrest, according to a person familiar with the matter. View the full article
Neptune Energy Group Ltd., the private equity-backed explorer, is considering options including a merger with Harbour Energy Plc that could create one of Europe’s largest independent oil and gas companies, people familiar with the matter said. View the full article
The North Sea Transition Authority, formerly known as the UK Oil & Gas Authority, published its Corporate Plan outlining how it will support the industry for the next five years. View the full article
OPEC+ fails to strike a deal, abandoning its planned meeting and leaving the oil market facing much tighter supplies than had been expected. View the full article
Forum Energy Technologies, Inc. announced that it has secured an order from DOF Subsea to supply two of its improved 200HP Perry XLX-C work-class remotely operated vehicles. View the full article
The likely return of Iranian oil is setting up what promises to be an aggressive, price-driven battle to supply a corner of the coveted Asian market. View the full article
Liberty Oilfield Services Inc. posted its best quarterly sales since going public more than four years ago as the global energy crisis spurs a boom in demand for fracing. View the full article
Canada’s oil production could continue to rise for the next decade and then begin declining as countries strive to reduce carbon emissions, the Canada Energy Regulator said Thursday. View the full article
The award will increase Lower Zakum field’s gas production capacity from 430 million to 700 million standard cubic feet per day, supporting ADNOC’s plans to cater for increasing global energy demand. View the full article
This achievement further establishes the company as a strategic player in the international energy sector and marks a 22% increase in production from 2021. View the full article
OPEC said the global oil market will switch from being under- to over-supplied as early as next month as the economic rebound from the coronavirus pandemic falters. View the full article
It may not be quite throwing caution to the winds, but the prospect of hefty profits and supply that may not stretch to meet consumer demand is enticing U.S. refiners to run at a 21-month high, testing equipment limits to sustain high rates without breakdowns. View the full article
Talos has taken a leadership role in the developing market for global emissions reductions, but additional CCS capacity is required to meet global emissions reductions and climate objectives. View the full article
With the Paris Agreement's decarbonization plans suddenly not ambitious enough for the West, key Middle East producers see an opportunity, and are putting serious money down to cover their bets. View the full article
British Isles seabed regulator The Crown Estate has confirmed an intention to move forward with the lease process for two 100MW floating wind test and demonstration sites in the Celtic Sea to Llŷr Floating Wind Limited. View the full article
Global oil prices may rise to as high as $120 by the middle of next year as the ability of OPEC+ to meet demand is at risk from under-investments and sanctions, according to a Rosneft PJSC executive. View the full article
The Biden administration’s unprecedented, coordinated attempt to tame oil prices by authorizing one of the biggest ever draw-downs of U.S. crude reserves has elicited a collective shrug from the oil industry. 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.