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Venezuela intelligence police have transferred the six Citgo Petroleum Corp. executives who where under house arrest to its headquarters, lawyers for the men said. View the full article
Cisneros, who is chairman of Cisneros Corporation, is entering a joint venture with PDVSA through Globalable Holding SL. The JV known as Petrocabimas is based in the western Zulia state and is projected to quadruple current production to 50,000 bpd by 2026, Cisneros said in a statement. PDVSA did not reply to a request for comment. View the full article
Venezuela creditors are holding a rare meeting in Davos next week to discuss potential opportunities in the oil sector amid increasing optimism for investment in the country as the U.S. floats easing some sanctions. View the full article
Venezuela’s state-owned oil company imported a key component needed to achieve its goal of almost tripling crude production, defying U.S. efforts to isolate the Maduro regime’s grip on power. View the full article
Varel Energy Solutions (VES) announced it has acquired Sledgehammer Oil Tools, an international leader in the supply of oilfield casing, cementing and completion products. View the full article
VARD has secured contracts for the design and construction of three Service Operation Vessels (SOVs) for North Star Renewables in Scotland. The state-of-the-art hybrid trio will operate on the Dogger Bank Wind Farm in the North Sea. View the full article
Vard Electro has been awarded a contract for an innovative hybrid battery power system with Atlantic Towing to be integrated on their vessel Atlantic Shrike. Atlantic Towing is the first company to implement this multiple mode application of battery technologies on a single vessel in the Canadian offshore oil and gas industry. View the full article
The Vår Energi-operated Cerisa exploration well in production license PL 636 offshore Norway was successful, with estimated gross recoverable resources of between 18-39 MMboe. View the full article
Ecuador’s oil production is likely to halt completely within 48 hours if road blocks and vandalizing of oil wells continue, the Energy Ministry said in an emailed statement. View the full article
The National Ocean Industries Association has named Vallourec as the winner of the inaugural NOIA Environmental, Social, & Governance Excellence Award. View the full article
Following a call for tender, Vallourec has been awarded a contract by TotalEnergies to supply almost 5,000 tonnes of OCTG solutions and associated services for the Kaminho deepwater project on Block 20, 100 km offshore Angola. View the full article
Vallourec low-carbon high performance OCTG solutions will contribute to the development of the Bacalhau and Raia fields operated in the pre-salt, as well as the Peregrino field in the post-salt, while contributing to Equinor's Energy Transition Plan to reach net zero by 2050. View the full article
Valero Energy Corp.’s trading division was the largest buyer of crude oil in the Biden administration’s second sale of emergency stocks that were part of the White House’s efforts to combat surging energy prices after Russia invaded Ukraine. View the full article
Valaris Limited has been awarded a multi-year contract with Equinor Energy do Brasil Ltda., a subsidiary of Equinor ASA (“Equinor”), for drillship VALARIS DS-17. The contract relates to work offshore Brazil on Project Raia. Equinor’s project partners are Repsol Sinpoec Brazil (35%) and Petrobras (30%). View the full article
Offshore drilling company Valaris Limited and the Valaris Group announced the company emerged from Chapter 11 bankruptcy at the end of April. View the full article
Amid surging caseloads that are stressing medical facilities in West Texas, Pioneer Natural Resources Co. is offering employees a one-time vaccine incentive of $1,000, the company said in an email. Devon Energy Corp. is offering $500 to workers that show proof they took the jab by Oct. 15. View the full article
Some of the high-impact technologies in 2019 no longer have the same economic punch in today’s Covid-19-battered market. At the same time, say some operators and innovators, some of the overlooked or low-impact technologies now are extremely useful, even transformative. View the full article
In an effort that has been underway for several years and is now set against a backdrop of triple-digit oil prices, oil and gas companies are continuing attempts to devise new methods of increasing production from existing unconventional wells. View the full article
Enverus has released its annual list of the 100 most prolific private oil and gas producers in the U.S. based on gross operated production, well count and rig movements across last year. Continental Resources and Ascent Resources remain in the top two positions on the list, with Aethon Energy moving up to the third position, according to Enverus. View the full article
Enverus has released its annual list of the 100 most prolific private oil and gas producers in the U.S. based on gross operated production, well count and rig movements across last year. Continental Resources and Ascent Resources remain in the top two positions on the list, with Aethon Energy moving up to the third position, according to Enverus. View the full article
Overall, Q2 was a challenging quarter for negotiating deals as volatility roiled both commodity and equity markets. Despite that, about $12 billion was transacted in upstream M&A. View the full article
An upstart driller in Mexico aims to provide 10% of the country’s natural gas needs as it develops prospects south of Texas’s border. View the full article
A natural gas pipeline in Texas leaked methane from a 16-inch pipe that’s a tiny part of a vast web of unregulated gathering lines across the U.S., linking production fields and other sites to bigger transmission lines. View the full article
The forecast fell £1.5 billion to £44.5 billion last year – contributing to a total cut of £15 billion since 2017, when the North Sea Transition Authority introduced a baseline estimate of £59.7 billion and set a target of reducing costs by 35% to £39 billion by end-2022. View the full article
European natural gas futures jumped, extending their rebound from last week’s slump, as shipments from Russia fell. 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.