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Industry groups reacted to the Department of Interior’s release of its five-year offshore drilling plan that seeks to block new offshore drilling in the Atlantic and Pacific oceans, saying it would be an overall disadvantage to America and its energy security. View the full article
Indian Oil Corp., the country’s biggest refiner, said it plans to spend 2 trillion rupees ($25 billion) to achieve carbon neutrality in its operations by 2046. View the full article
India’s windfall tax on domestic crude oil production and fuel exports may help the government bring in 1 trillion rupees ($12.7 billion) in revenues, Press Trust of India reported. View the full article
The United Arab Emirates and Reliance Industries Ltd. agreed to build a $2 billion petrochemical plant, the Indian company’s first such investment in the Middle East. View the full article
Reliance Industries Ltd., which operates the world’s largest crude oil refining complex, plans to invest 750 billion rupees ($10.1 billion) in clean energy over three years, paving way for a crucial transformation as investors, consumers and governments world over seek sustainable growth. View the full article
India’s Oil and Natural Gas Corp. is exploring a purchase of a significant minority stake in the $4 billion-plus Sangomar oil project off the coast of Senegal from Woodside Petroleum Ltd., according to people familiar with the matter. View the full article
India’s top energy companies, Petronet LNG Ltd. and ONGC Videsh Ltd., are having discussions about buying a stake in Russia’s planned liquefied-gas project Arctic LNG 2 as their government seeks to secure supplies of the cleaner burning fuel. View the full article
India slapped taxes on fuel exports and local crude oil production to tap windfall gains from surging global prices. View the full article
Saudi Arabia’s push to restrain oil supply to buoy prices is spurring India to speed up plans to diversify its crude sources and pursue alternative energy, the chairman of one of the nation’s biggest refiners said. View the full article
Saudi Arabia’s push to restrain oil supply to buoy prices is spurring India to speed up plans to diversify its crude sources and pursue alternative energy, the chairman of one of the nation’s biggest refiners said. View the full article
It’s not the first time India, one of the biggest buyers of the producer group’s crude, has urged the Organization of Exporting Petroleum Countries and its partners to pump more oil. View the full article
India is looking to double down on its Russian oil imports with state-owned refiners eager to take more heavily-discounted supplies from Rosneft PJSC as international buyers turn down dealings with Moscow over its invasion of Ukraine. View the full article
Denbury Inc., an independent oil company based in Plano, Texas, has been exploring options including a sale, according to people with knowledge of the matter. View the full article
As the Biden Administration aims to significantly increase federal investment in renewable energy under the American Jobs Plan, the United States already ranks as the most attractive market for renewables investment, according to results from a new ranking by IHS Markit. View the full article
OPEC+ is unlikely to increase output in the coming months because of limited spare capacity, according to the International Energy Agency. View the full article
The tightness in global oil markets that propelled prices to a seven-year high is starting to ease as production recovers in the U.S. and elsewhere, the International Energy Agency said. View the full article
World consumption will once again reach 100 million barrels a day in the second half of 2022 as developed economies bring the virus under control, the International Energy Agency said, in its first detailed outlook for the year ahead. View the full article
Global oil demand has proven stronger than expected as the latest coronavirus variant inflicts a softer hit to the economy than anticipated, the International Energy Agency said. View the full article
As a resource-rich country on the leading edge of many clean energy technologies, Norway is uniquely well placed for the clean energy transition, according to a new in-depth policy review by the International Energy Agency. View the full article
The International Energy Agency has a bold interpretation for what must be done to avert a climate crisis – and its measures stand in stark contrast to current economic and technological realities. View the full article
Government climate policies and the transition away from fossil fuels are not to be blamed for the energy crisis ravaging Europe and Asia, according to the International Energy Agency. View the full article
Less than 15% of the $2.4 trillion in government spending to support the post-pandemic economic recovery has gone to investments in clean energy, according to the International Energy Agency. View the full article
The IEA cut forecasts for world oil consumption in 2021 by 200,000 barrels a day as the pandemic continues to limit travel and economic activity. It boosted projections for supplies outside the OPEC cartel by 400,000 barrels a day as a price recovery spurs investment. View the full article
“Much greater resources have to be mobilized and directed to clean energy technologies to put the world on track to reach net-zero emissions by 2050,” said Fatih Birol, the IEA’s executive director. Among other milestones, the IEA's 2050 plan depends on all new oil and gas exploration worldwide being halted several weeks ago. View the full article
A “big chunk” of U.S. shale is profitable at current oil prices, but drillers should be aware of crude’s declining share in the future global energy mix, International Energy Agency Executive Director Fatih Birol said in an interview. 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.