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A federal judge ruled Brazil’s Petrobras liable in a lawsuit filed by Houston firm IEG Global Energy Partners, finding that Petrobras defrauded EIG in connection with a deal to build and charter 28 oil drilling rigs for work off the coast of Brazil. View the full article
While most hydrogen is currently extracted from gas, there’s a push to use renewable energy to make the fuel from water, which wouldn’t generate carbon emissions. Oil and gas companies have “incredible infrastructure” to transport hydrogen, Kerry said. View the full article
The White House and 49 senators support a proposal to impose an almost $20 per-ton fee on carbon as part of President Joe Biden’s climate-and-spending legislation, U.S. Senator Sheldon Whitehouse said Saturday. View the full article
West Virginia Senator Joe Manchin stands alone among his fellow Democrats, recognizing the long-term economic damage Biden's $3.5T liberal wish list would inflict on America’s ability to meet its own energy needs, and compete in the global economic arena. View the full article
President Joe Biden has been weighing the merits of releasing oil from the Strategic Petroleum Reserve to try to quell gasoline prices. A release by China was raised by the U.S. during this week’s virtual summit with President Xi Jinping, the South China Morning Post reported, citing an unidentified person. View the full article
Japanese Prime Minister Fumio Kishida said it would take time to phase out imports of Russian oil, hours after he joined other Group of Seven leaders to impose a ban on crude over the Kremlin’s invasion of Ukraine. View the full article
Global digital services leader Asset Information Services (AIS), a James Fisher company, announced its business development and account management expansion plans on Monday, which includes new hires in key global regions for its rapidly growing customer base. View the full article
North Sea-focused oil and gas operator Ithaca Energy announced that its acquisition of Siccar Point Energy, an Aberdeen-based energy company, has been completed with all conditions having been met. View the full article
Eni SpA signed a framework agreement to boost flows of liquefied natural gas from Egypt to Italy, as European nations step up efforts to wean themselves off Russian energy in the wake of Moscow’s attack on Ukraine. View the full article
Europe can reduce energy dependence on Russia quicker than previously estimated, Mario Draghi said in an interview with Corriere della Sera. View the full article
Work to re-float the Ever Given and free up oceangoing carriers hauling almost $10 billion of oil and consumer goods continued without success on Thursday in Egypt. The Suez Canal Authority has temporarily suspended traffic along the waterway. View the full article
Israel should cancel the oil pipeline deal with a group of United Arab Emirates investors out of environmental concerns, the country’s minister of energy said, casting doubt over a politically-sensitive agreement that tests new diplomatic relations. View the full article
Israel said it’s unlikely to expand natural-gas exports even as countries across Europe clamor for more supply amid a severe energy crunch. View the full article
A Libyan ship that sailed from Iran dumped oil into the sea off the coast of Israel in early February, Israel's Minister of Environmental Protection Gila Gamliel told reporters on Wednesday. View the full article
Israel’s prime minister said Iran was “unequivocally” to blame for a deadly attack on an Israel-linked oil tanker off Oman on Thursday, just after Tehran denied responsibility. View the full article
The announcement comes as nations in the eastern Mediterranean ramp up investments in offshore gas fields. Egypt is seeking to become a major hub for exporting LNG to Europe, where demand is growing as governments transition from dirtier fossil fuels such as coal and oil. View the full article
Mozambican businesses looking to cash in on Africa’s biggest private investment are facing disaster after an attack by Islamic State-linked militants on a town close to Total SE’s $20 billion natural gas export project. View the full article
Baghdad pledged to pump below its quota in February to make up for past overproduction. Still, the pace of its crude exports in the first half of the month, if maintained through the rest of February, indicates the country may exceed its self-imposed production target of 3.6 million barrels a day and perhaps even its OPEC+ cap of around 3.85 million. View the full article
Prepayment deals are rare in the oil world and this was meant to improve Iraq’s financial situation. While the government is still struggling, its position has improved on soaring oil prices, largely thanks to the rollout of coronavirus vaccines. View the full article
Iraq’s regional allies stressed the need to provide support to an OPEC member struggling to rebuild after decades of ruinous wars, in a conference that also afforded a platform for meetings between longtime rivals. View the full article
A daily increase of 400,000 barrels in oil output would be enough to meet demand, according to Iraqi Minister Ihsan Abdul Jabbar. View the full article
Iraq’s cabinet may reactivate a deal with Halliburton Co. to drill wells in a western gas field in Akkas next month, Oil Minister Ihsan Abdul Jabbar told local media. View the full article
Iraq is spending billions of dollars to ramp up gas production and reduce its reliance on imports from Iran, which it uses primarily to power its electricity plants. View the full article
Iraq cut the price of its banner crude for U.S. customers sharply, a bold deviation from what Saudi Arabia chose to do with its own barrels just a few days ago. View the full article
Iraq approved a state company’s potential purchase of Exxon Mobil Corp.’s interest in a huge oil field in the south of the country. 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.
