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West Texas Intermediate lost as much as 6.9% to slip under $97 a barrel as Wall Street traded lower and the dollar rose, making commodities priced in the currency more expensive. View the full article
The White House believes the Organization of Petroleum Exporting Countries has room to raise oil production, should an upcoming visit by President Joe Biden to the Middle East yield any agreements. View the full article
Through the UK Government’s Floating Offshore Wind Manufacturing Investment Scheme, up to £160 million will be made available to scale-up the deployment of floating offshore wind and to invest in key areas where the UK has competitive advantage. View the full article
Even if Joe Biden secures a pledge for more oil when he visits Saudi Arabia this week, it may do little to drive down the high fuel prices roiling the global economy. View the full article
Petrobras has awarded Tenaris a four-year contract for the supply of a comprehensive package of products and services for its flagship Buzios deepwater project. View the full article
TechnipFMC will continue to provide a wide range of engineering, studies and technical services to Neptune Energy, including installation work and operational support for Neptune’s development projects and producing fields. View the full article
Nigeria’s state energy company won a court decision temporarily blocking Exxon Mobil Corp. from selling assets in the country to Seplat Energy Plc. View the full article
Suncor Energy Inc.’s chief executive officer stepped down on Friday after a series of fatalities at the company’s oil sands sites shook confidence in its management. View the full article
National Ocean Industries Association President Erik Milito said Interior has had 16 months to fulfill its statutory obligation to develop and maintain an offshore oil and gas leasing program and it has failed. View the full article
Employment in the U.S. oilfield services and equipment sector rose by an estimated 4,999 jobs to 633,198 in June, according to preliminary data. View the full article
This year, the number of new petroleum-engineering graduates in the U.S. is expected to total about 400 -- an 83% decline from 2017, when they peaked at more than 2,300. View the full article
The heart of the U.S. physical oil markets is screaming for supplies even as headline prices swing due to worries about a global recession. View the full article
In response to high interest from submitting authors, the new deadline to submit abstracts is August 8, 2022. The Congress will take place from September 17-21, 2023, in Calgary, Alberta. View the full article
Trelleborg Sealing Solutions launches its interactive Variseal® Oil & Gas Seal Selector, an online configuration tool to provide customers with technical proposal specifications for high-performance sealing. View the full article
These drill bits combine the latest technology with an industry-leading customization process to deliver high-performance, application-specific designs for customers. View the full article
Railroad Commission of Texas Chairman Wayne Christian applauds the Texas oil and gas
industry following the Texas Comptroller of Public Accounts’ announcement of record-breaking tax revenues from the industry. View the full article
The U.S. and its allies have discussed trying to cap the price on Russian oil between $40 and about $60 a barrel, according to people familiar with the matter. View the full article
Shell Plc said soaring margins from fuel production may have added more than $1 billion to the earnings of its refining business last quarter, when gasoline prices broke records in several countries. View the full article
Shell Plc has decided to proceed with building Europe’s largest plant producing hydrogen from renewable power as oil majors bet the fuel could be key to cutting carbon emissions. View the full article
Chevron Corp. wants more control over the oil it produces in Venezuela, a move that would help the driller boost output and recover debt if the US eases sanctions amid a global fuel crunch. View the full article
Shape the future of energy at the 24th World Petroleum Congress 2023 Technical Conference. Abstracts will be considered if submitted before Thursday, July 7. View the full article
The industry body for the UK offshore energy industry welcomed the UK Government’s decision to change the Energy Profits Levy in response to concerns from the country's offshore oil and gas companies. View the full article
OPEC Secretary-General Mohammad Barkindo, an oil industry veteran who steered the group through the creation of the OPEC+ alliance, has died in his native Nigeria. He was 63. View the full article
Frac sand, which gets blasted through shale rocks to unlock oil and natural gas, is averaging $55 a ton, up from $22 at the end of 2021. Demand is climbing as oil explorers turn the taps back on after Covid-driven cutbacks. View the full article
A set of reports due to be published in the coming months will show how companies in the UK’s offshore oil and gas industry supply chain can expand to cleaner energies, including carbon capture, usage and storage (CCUS), hydrogen and offshore wind. 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.
