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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
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
Endangered desert fish would get millions of dollars in federal funding while oil companies would face new fees and a ban on most offshore drilling under a plan floated by House Democrats. View the full article
The transaction will include all of Oryx’s Permian assets and, with the exception of Plains’ long-haul pipeline systems and certain of its intra-basin terminal assets, the vast majority of Plains’ assets located within the Permian Basin. 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
ADNOC Drilling Company announced its financial results for the half year and second quarter ending June 30, which show its net profit for the first half significantly grew by 34% to $379 million. View the full article
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
OPEC sees oil demand continuing to grow to the middle of next decade, even as world leaders prepare for another attempt to avert catastrophic climate change. 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
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
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
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
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 maritime industry faces challenges in adopting new technologies and operational practices to reduce emissions of carbon and other greenhouse gases. Panos Koutsourakis, ABS Director of Sustainability Strategy, Singapore, explains why methanol as a marine fuel is one of the near-term solutions. 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
President Joe Biden urged the Federal Trade Commission to probe possible illegal conduct in U.S. gasoline markets, though any inquiry by the agency is unlikely to have an immediate impact on pump prices paid by consumers. 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
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
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
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
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 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
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
State producer Saudi Aramco on Wednesday raised its flagship Arab Light oil to Asia, its biggest market, to $1 above the benchmark used by the company. View the full article
Exxon Mobil Corp. took the first step toward filing a lawsuit against Russia after Vladimir Putin blocked the oil major from exiting its only remaining operation in 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.
