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A hydrogen economy that runs factories and power plants on the clean-burning fuel may be years down the road, but that hasn’t stopped U.S. states from jockeying for a share of the $8 billion in federal funds earmarked for so-called hydrogen hubs. View the full article
U.S. shale oil production will expand at a “modest rate” over the next 18 months even as prices touch multiyear highs, leaving OPEC in a powerful position as the world cries out for more barrels. View the full article
Brazil alone is expected to contribute around 23% or 1.3 million barrels per day of global crude oil and condensate production in 2025 from key offshore planned and announced projects that are expected to start operations between 2021 to 2025, according to GlobalData. View the full article
Building on an existing collaboration that has been ongoing since Aker BP was established, KDI will continue to contribute in accelerating Aker BP’s digitalization process by enabling real-time cloud-based data access, supporting decision-making, and improving efficiency. View the full article
“This deal was justified on three key merits: it meets our rigorous cost of supply framework, we see a way to drive efficiencies from the assets, and the transaction makes our 10-year plan better,” said Ryan Lance, ConocoPhillips chairman and CEO. View the full article
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
With the ink hardly dry on a landmark pledge by the finance industry to fight climate change, the world’s biggest banks are making clear they plan to stand by their fossil-fuel clients. View the full article
Qatar, the world’s biggest exporter of liquefied natural gas, said it’s “unhappy” prices are so high but is producing at maximum capacity. View the full article
Oil tumbled again, dropping to the lowest level since May as the U.S. Federal Reserve signaled it was set to start tapering asset purchases within months, hurting commodities and lifting the dollar. View the full article
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
Mahathi Infra Uganda’s $270-million lakeside logistics complex, a strategic addition to the East African nation’s oil infrastructure, is set to start operations in January. View the full article
The Energy Workforce and Technology Council elected new officers and industry leaders during its Annual Meeting, held in Santa Ana Pueblo, NM. View the full article
Oil jumped on speculation that the Biden administration may pull the plug on any plans to release crude from the nation’s emergency reserves after a U.S. energy report showed supplies rising next year. View the full article
TotalEnergies announces deployment of an innovative technology developed by Qnergy, to significantly reduce methane emissions related to its operations on the Barnett gas field in the United States. View the full article
When managing multi-billion dollar offshore explorations for oil and gas reserves, discovering efficiencies is paramount. The efficiencies you find in your process greatly reduce costs – even a few minutes of downtime can cost a drilling operator thousands of dollars in lost productivity. View the full article
Nigeria’s state-owned energy firm will now operate as a commercial entity without relying on government funding and direct controls, President Muhammadu Buhari said on Tuesday. View the full article
The Council recognized members for exceptional leadership and accomplishments on behalf of the energy services and technology sector during its 2021 Annual Meeting, held in Santa Ana Pueblo, NM. View the full article
Oil resumed declines amid growing concerns over the health of China’s economy that have triggered massive losses in equities. View the full article
A South African court has ruled that Royal Dutch Shell Plc can proceed with a seismic survey offshore the East Coast, after dismissing a legal application by activist groups. View the full article
Royal Dutch Shell Plc shareholders approved the relocation of the company’s headquarters to London from The Netherlands, a move that will help it to boost returns while transitioning to clean energy. View the full article
The Biden administration is preparing to release a blueprint for limiting sales of U.S. drilling rights as rising oil and gasoline prices highlight the risks of curtailing domestic crude production. 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
A Danish project to store captured CO2 in North Sea reservoirs that were once filled with oil and gas moved a step closer to becoming operational, after winning approval from new stakeholders. View the full article
The former chief of BP Plc warned that investors are pushing environmental, social and governance concerns aside as fears about energy security and mounting costs take precedence. View the full article
Oil pipeline giant Energy Transfer LP must pay $410 million for scuttling a $33 billion merger with rival Williams Cos. over a tax flaw in the deal, a judge concluded. 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.
