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The inauguration of the Nigerian National Petroleum Company Limited initiates a monumental shift in active engagement, accountability and value that is expected to reshape Nigeria’s petroleum industry, while simultaneously acting as a model for other National Oil Companies on the continent. View the full article
Canada’s export credit agency is targeting a 15% cut to its financing portfolio for upstream oil and gas production by 2030. View the full article
A U.S. energy envoy said he is confident Persian Gulf producers will increase oil output after President Joe Biden’s visit to Saudi Arabia, where he met with regional leaders. View the full article
Libyan Prime Minister Abdul Hamid Dbeibah said the country’s crude exports are on track for full resumption after months of outages as he justified his replacement of the state-run oil company’s leadership. View the full article
Mewbourne Oil Co., the largest private oil producer in the U.S., said it will remain in the hands of its controlling family after the recent death of its eponymous founder. View the full article
More U.S. shale producers should aim for net-zero emissions, while drillers that have already made climate pledges need to set more aggressive timelines to reach their goals, according to investor Kimmeridge Energy Management. View the full article
Sembcorp Marine Ltd, through its wholly owned subsidiary, Sembcorp Marine Offshore Platforms Pte. Ltd., has entered into an Engineering, Procurement, Construction and Installation contract with a major energy company for a gas topsides project in Australia. View the full article
The Canadian government released potential designs for an emissions cap on the oil and gas industry, the next step in Prime Minister Justin Trudeau’s plan to cut emissions in the sector by 42% by 2030. View the full article
President Joe Biden said he expects further oil supply increases from Saudi Arabia to help tame fuel costs at home after a landmark meeting with the kingdom’s rulers. View the full article
Hedge funds and other investors looking to cash in on Brazil’s surging oil and gas output are turning to a new breed of drillers as an alternative to turmoil-wracked Petroleo Brasileiro SA, the state-owned producer that’s had four CEOs since early 2019. View the full article
Libya’s government, National Oil Corp. and protesters have reached an agreement to reopen oil fields and export terminals, officials said. View the full article
President Joe Biden will leave the Middle East this week with no announcements on increasing oil supply before a scheduled meeting of producers next month, people familiar with the matter said. View the full article
Half-year data points for the offshore market released by Clarksons Research, profiling improving activity, utilization and day rates across the offshore oil and gas market, show the overall index is up 17%. View the full article
GPA Midstream Association, an organization representing America’s midstream energy industry, announced that Kevin Broom has been named Vice President of Communications. View the full article
As President Biden prepares to meet with Saudi officials on Friday, the American Petroleum Institute released a video once again inviting the president to visit American energy sites and support American producers. View the full article
Overall, Q2 was a challenging quarter for negotiating deals as volatility roiled both commodity and equity markets. Despite that, about $12 billion was transacted in upstream M&A. View the full article
OPEC producers will need to pump crude at the fastest pace in five years in 2023 if they are to balance oil supply and demand. Capacity constraints suggest they may struggle. View the full article
New laws imposing £5 billion of new taxes on the UK’s offshore oil and gas operators risk driving away investors and undermining the nation’s future energy supplies, the industry’s leading trade body has warned. View the full article
Well construction expert DeltaTek Global announced its QuikCure® technology has received a U.S patent, confirming the unique attributes and technical make-up of the company’s rapid cement hydration offering. View the full article
Oil ended the day little changed after a volatile session in which the latest U.S. inflation report and data showing high prices hitting U.S. fuel demand roiled prices. View the full article
Mubadala Petroleum announced that the drilling of the Timpan-1 exploration well offshore North Sumatra, Indonesia, has been completed with the discovery of a 390-foot gas column. View the full article
Oil prices pose a high risk to the global economic recovery, with signs that fuel costs are starting to “take their toll” on demand growth, the International Energy Agency said. View the full article
As U.S. President Joe Biden prepares to visit the Persian Gulf to get more oil onto global markets, political turmoil in another part of OPEC threatens to further undermine the cartel’s production. View the full article
OEUK warmly welcomes the news that Stuart Payne has been appointed to lead the North Sea Transition Authority at what continues to be a crucial and challenging period for the industry. View the full article
Oil tumbled as concerns about a global economic slowdown and growing Covid-19 cases in China reduced risk appetite among traders. West Texas Intermediate lost as much as 8% to slip under $96 a barrel. 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.
