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Providing more detail on Exxon’s recently-announced efforts to commercialize low-carbon technologies, CEO Darren Woods stressed that partnering with outside investors would be a key objective. It would also mean Exxon would not need to fund large projects solely with its own cash. View the full article
Governor Greg Abbott signed a bill into law on Monday banning state investments in businesses that cut ties with the oil and gas industry. The underlying message, according to one of the most powerful energy regulators in the state, is simple: Boycott Texas, and we’ll boycott you. View the full article
Oil industry officials have encouraged the administration to seek methane reductions across the economy, including from agriculture. While some independent oil producers oppose new methane-cutting mandates, the trade group American Petroleum Institute supports explicit regulation of methane. View the full article
Yemen’s Iran-backed Houthi rebels are ready for an “honorable peace” but Saudi Arabia must end its attacks and lift its siege, group leader Abdul Malik al-Houthi said on Thursday. View the full article
Last year’s crash in oil prices and China’s rapid rebound from the first wave of the Covid-19 pandemic set the stage for a flurry of crude purchases. However, stockpiling has leveled off as oil prices rebounded and storage space runs out. View the full article
Seen from Moscow, the melting of the polar ice cap is as much economic opportunity as natural disaster, opening the Northern Sea Route from Asia to Europe for shipping and creating access to potentially vast new reserves of minerals, oil and gas. View the full article
The Joint Ministerial Monitoring Committee, JMMC, meeting of the OPEC+ that took place in the form of a virtual conference on Wednesday, finally managed to provide the markets with much needed sense of direction.
The oil price shot up, having been in decline for days. Brent oil hit above $58, the highest so far during the turbulent period.
The meeting was unusually short, yet managed to reach an agreement with most members seeing eye to eye on the main issue: maintaining the crude
Energy Workforce & Technology Council's CEO said the EPA’s regulatory notice that it is considering designating parts of the Permian Basin as non-attainment zones which could trigger mandatory regulatory actions by the state of Texas would be detrimental to energy security. View the full article
Few ideas are more economically disastrous than debt spending in an inflationary environment and raising taxes during a recession. And Democrats are planning on doing just that. View the full article
Texas moved to stop the city of Austin and others from imposing a California-style ban on natural gas in new homes and buildings, the latest salvo in the gas industry’s bid to protect itself from local climate regulations. View the full article
World consumption will once again reach 100 million barrels a day in the second half of 2022 as developed economies bring the virus under control, the International Energy Agency said, in its first detailed outlook for the year ahead. View the full article
Neptune Energy and its partners announced a new commercial oil discovery at the Ofelia exploration well (PL 929), close to the Gjøa field in the Norwegian sector of the North Sea. View the full article
The oil demand picture remains uneven across various regions, with Indian fuel sales falling in February amid higher pump prices, while demand is climbing in America and the UK. View the full article
The stage is set for an epic show; the battle lines are drawn. People across the world, some of who have never been bothered about stock markets or investors for that matter, are watching the duel between the hedge funds and the WallStreetBets, the Reddit group that grabs headlines this week, for variety of reasons.
In the profile picture of the WallStreeBets, a gentleman resembling President Trump, is making coded gestures, perhaps in the form of a rallying cry, while remaining in charter
“All of the missiles and drones that came into Saudi are Iranian-manufactured or Iranian-supplied,” Adel Al-Jubeir, minister of state for foreign affairs, said in an interview with Arab News published Friday afternoon. “Several of them, as we’ve said, came from the north; several came from the sea.” View the full article
For a few fleeting hours Thursday, shares of Cenovus Energy Inc., one of Canada’s biggest oil producers, bounced back to highs not seen since its massive stock issuance to buy assets from ConocoPhillips four and a half years ago. View the full article
The situation could worsen as Big Oil makes another round of deep spending cuts, leaving consequences both for the oil market, which needs more supply from the OPEC cartel in the coming years, and the economic stability of a region that’s dependent on petroleum revenue. View the full article
New research commissioned by Offshore Energies UK has revealed that young people are actively seeking careers that have a positive impact on society, with more than half of those surveyed saying they would consider a career in the UK’s energy sector. View the full article
Businesses are burning coal and even oil to keep power stations and factories running while cleaner-burning natural gas becomes increasingly scarce. The situation threatens to push up Europe’s carbon footprint this year. View the full article
U.S. President Joe Biden has vowed to end the conflict in Yemen, ceasing sales of offensive weapons to Saudi Arabia, removing the Houthis’ terrorist designation to facilitate the delivery of humanitarian aid, and pushing for a negotiated settlement. View the full article
Global oil demand has proven stronger than expected as the latest coronavirus variant inflicts a softer hit to the economy than anticipated, the International Energy Agency said. View the full article
With the world gripped by high energy costs and soaring inflation, oil options that would profit a buyer from Brent crude hitting $250 a barrel are changing hands. View the full article
Pioneer Natural Resources Co. is buying DoublePoint Energy LLC in a deal valued at $6.4 billion, less than three months after completing its purchase of fellow shale driller Parsley Energy Inc. as it expands in the U.S. Permian Basin. View the full article
Occidental Petroleum Corp. praised OPEC and its allies for managing crude markets out of last year’s historic crash and said the U.S. shale industry is thankful for its efforts. View the full article
A new company soon to be created by Chrysaor Holdings Ltd and Premier Oil Plc will likely retain its stake in the giant Zama oil development in Mexico, reversing an earlier decision by the indebted North Sea driller to exit the project. 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.
