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Offshore Energies UK thanked the Chancellor of the Exchequer for a “candid and constructive” meeting with the nation’s gas and oil producers - but warned that his new energy profit levy risks undermining attempts to attract capital investment to the UK. View the full article
Research shows companies with a higher percentage of women in executive positions have a 34% higher total return to shareholders than those that do not and companies with ethnic diversity on their executive team are 25% more likely to have above average profitability and 27% likelihood of outperforming peers in value creation. View the full article
Cost-efficient emissions reductions of up to 87% on offshore oil and gas platforms could be achieved using alternative power sources, according to the winners of a competition launched to accelerate electrification of oil and gas assets in the North Sea. 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
The American Petroleum Institute and American Fuel & Petrochemical Manufacturers called the meeting “a constructive discussion.” While no concrete solutions emerged, both sides promised to keep talking and working together in good faith. View the full article
Seadrill Limited, an offshore drilling contractor, announced it has been awarded contract extensions for the AOD I, AOD III and West Callisto jackup rigs for work offshore in the Persian Gulf. View the full article
TUBACEX will build a new tube and thread manufacturing plant in Abu Dhabi as part of its largest-ever award with Abu Dhabi National Oil Company. View the full article
Nigeria’s Senate will investigate Shell Plc’s historic license renewals in the West African state to determine whether they were extended unlawfully and cost the government up to $200 million. View the full article
Oil leaders and their allies on Capitol Hill are panning the approach, saying it does nothing to address more fundamental problems holding back U.S. crude and gasoline production. View the full article
Eco Atlantic plans to spud the Gazania-1 well, 25 km (15 mi) offshore the Northern Cape in South Africa in September. View the full article
Aimed at unlocking the geological capacity of the complex, a conventional oil development located in deep water in Equatorial Guinea comprising five producing oilfields, the upgrade will convert 15 gas lift wells to electrical submersible pumps. View the full article
ABB has been contracted by engineering, procurement, and construction contractor Aker Solutions to deliver the main electrical, automation and safety systems for Norway’s Northern Lights project. View the full article
Veteran commodities trader Pierre Andurand said it’s “hard to think of a downside” to a proposed oil price-cap on Russian crude that’s been floated by U.S. Treasury Secretary Janet Yellen. View the full article
Libya’s oil production has risen in the past week to around 700,000 to 800,000 barrels a day, according to Energy Minister Mohamed Oun. View the full article
Exxon Mobil Corp. is investing in a $29 billion project to boost Qatar’s gas exports, joining others including ConocoPhillips, TotalEnergies and Eni SpA. View the full article
VIKING Life-Saving Equipment has selected Norfolk, Virginia, as the hub to support the safety needs of North America’s fast-emerging offshore wind sector. View the full article
TotalEnergies SE in February said it had made a “significant” oil discovery off the coast of Namibia, three weeks after Shell Plc announced a find off the southwest African nation. View the full article
Eni SpA became the second foreign firm to win a stake in a $29 billion project that will expand Qatar’s production of liquefied natural gas as the energy crisis in Europe escalates and prices climb. View the full article
Neptune Energy, ExxonMobil subsidiary XTO Netherlands, Ltd., Rosewood Exploration Ltd., and EBN Capital B.V. announced the signing of a Cooperation Agreement to progress the L10 large-scale offshore carbon capture and storage project in the Dutch North Sea. View the full article
Energean plc announced that it has extended its growth drilling program by exercising its options to drill two further wells with Stena Drilling Limited and to provide an update on the initial results of the KM-04 appraisal well. View the full article
Energean plc announced that it has extended its growth drilling program by exercising its options to drill two further wells with Stena Drilling Limited and to provide an update on the initial results of the KM-04 appraisal well. View the full article
The UK government’s new windfall tax, imposed on companies supplying the nation’s oil and gas, may already be undermining the major investments need to keep Britain’s lights on, Offshore Energies UK has warned. View the full article
Russia’s Rosneft PJSC is proceeding with its flagship Vostok Oil project in the Arctic, Chief Executive Officer Igor Sechin said, just over a week after a key partner announced it’s exiting the development over the invasion of Ukraine. View the full article
Targa Resources Corp. has agreed to buy Permian natural gas processor Lucid Energy Delaware LLC from Riverstone Holdings LLC and Goldman Sachs Asset Management for $3.55 billion in cash. View the full article
Energía Argentina and Tenaris signed an agreement for the supply of welded pipes for the construction of the Presidente Nestor Kirchner Gas Pipeline (GPNK) in Argentina. 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.
