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In the August Short-Term Energy Outlook, the U.S. Energy Information Administration forecasts larger than previously expected world petroleum inventory draws in 2021 and larger inventory builds in 2022. View the full article
The $3.5 trillion budget framework the Senate narrowly passed sets the stage for a deluge of spending on electric vehicles, renewable power and clean energy initiatives meant to help combat climate change and wean the U.S. off fossil fuels. View the full article
Pioneer Consulting has been contracted by the Zemax-Planova Consortium to provide expertise related to the various oil and gas aspects of the Petrobras Malha Óptica project in Brazil. View the full article
Focused on driving sustainability in the region through digital transformation, the partnership will help enable AVEVA to establish their largest digital hub, with an RandD capability, in the Middle East, headquartered in Saudi Arabia. View the full article
The U.S. didn’t import any Saudi crude last week for the first time in 35 years, a reversal from just months ago when the Kingdom threatened to upend the American energy industry by unleashing a tsunami of exports into a market decimated by the pandemic. View the full article
Almost four weeks after Hurricane Ida hit Louisiana, Gulf of Mexico oil producers are far from calling it over. View the full article
Neptune Energy and its joint venture partners, bp and JAPEX, have completed the safe and successful installation of the manifold and umbilical for the Seagull project in the UK Central North Sea. View the full article
Progress toward an Iranian nuclear deal has thrown the spotlight onto a sizeable cache of crude held by Tehran that could be swiftly dispatched to buyers in the event an agreement gets hammered out. View the full article
This carbon emissions assessment is expected to be the most comprehensive testing of real-time well stimulation operations performed within the industry to date, with independent third-party testing to be performed for each of these technologies during Seneca’s field operations. View the full article
Libya’s oil production has almost fully halted as a political crisis leads to more shutdowns of ports and fields. View the full article
Following the recent acquisition of PetroChad Mangara (PCM) by Perenco, PCM announced the successful export of its first barrel to the Chad-Cameroon pipeline. View the full article
Oil rallied as supply concerns took center stage with the EU threatening to ban Russian supplies this year and U.S. regional fuel inventories dropping to record lows. View the full article
Saudi Arabia told OPEC that it raised its crude production to just over 11 million barrels a day last month, exceeding the symbolic level for the first time in two years as the kingdom fulfilled a pledge to stabilize world markets. View the full article
Arabian Drilling Co., a Saudi oilfield-services company partly held by Schlumberger NV, is preparing an initial public offering that could give it a valuation of around $2 billion, according to people familiar with the matter. View the full article
Billionaire oil wildcatter Harold Hamm is donating $50 million for a new research center at Oklahoma State University focused on “securing America’s energy future,” a move that comes as the industry debates how to transition to cleaner fuels. View the full article
The pledge will see 80% of the planned spending go to carbon capture and renewable energy projects, and the remaining 20% to oil and gas production, according to the report. View the full article
“We are the guardian of this industry,” Saudi Energy Minister Prince Abdulaziz bin Salman said as he announced Saudi's production cut on Tuesday, preserving the OPEC+ deal and sending oil prices to 10-month highs. He emphasized that the decision was made unilaterally by Crown Prince Mohammad bin Salman himself. View the full article
The state-owned Nigerian National Petroleum Company recently became NNPC Limited, a commercial venture. Rather than operating as a government entity, with all of the red tape and inefficiencies that went with it, the company’s focus has been shifted to productivity and earning profits. View the full article
Greenpeace asked judges in Scotland’s Court of Session to overturn the government’s decision to grant BP a permit to drill for 30 million barrels of oil in the North Sea. View the full article
An Arctic cold blast that swept through the U.S. South in February caused a much bigger loss in oil supply than previously estimated, with output falling to a three-year low, according to U.S. government data. View the full article
The FPSO Atlanta, contracted by Enauta to Yinson for conversion to service the Atlanta Field offshore Brazil, will be operated under ABS Class. View the full article
Shell Offshore Inc. has safely and successfully re-started production at its Mars and Ursa platforms in the US Gulf of Mexico and began exporting oil and gas through the West Delta-143 (WD-143) “A” facility. View the full article
Halliburton Company announced the creation of Halliburton Labs – a collaborative environment where entrepreneurs, academics, investors, and industrial labs come together to advance cleaner, affordable energy. View the full article
As the government pushes for a constitutional reform to electricity laws, Finance Minister Ramirez de la O said now “would be a little late” to change overall energy laws that last decade gave private companies access to the Mexican market. View the full article
OPEC and its allies will stick to their slow pace of oil-production increases, disregarding U.S. President Joe Biden’s demand to go faster and increasing the odds that oil consuming nations will tap strategic reserves to lower consumer prices.. 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.