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Oil headed for the biggest monthly loss since October as investors weighed the prospect of additional OPEC+ production and the restoration of crude output in the U.S. after Hurricane Ida. View the full article
Oil continued its advance from the highest close in seven years as the U.S. dollar fell and investors assessed the energy crunch roiling global markets. View the full article
Enbridge Inc. is evaluating two tolling options for its vast Mainline oil pipeline network after a proposal to offer long-term contracts to keep the conduits full was rejected by Canada’s energy regulator. View the full article
Wednesday, the Senate approved language calling for Senate negotiators to support the issuance of a new Five Year Program for offshore oil and gas leasing as soon as possible and that the new program should include at least two area-wide lease sales per year. 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
KBR is launching a study to develop a carbon-neutral, green ammonia-based system to power a semi-submersible drilling unit owned by Odfjell. View the full article
Providing more detail on Exxon’s recently-announced efforts to commercialize low-carbon technologies, CEO Darren Woods stressed that partnering with outside investors would be a key objective of. It would also mean Exxon would not need to fund large projects solely with its own cash. View the full article
Two of the most prominent energy conferences – the Offshore Technology Conference (OTC) and NAPE Summit – announced a first-of-its-kind “Synergy in Energy” partnership. Both events will be held Aug.16-20 in Houston and guests will have the option to purchase a combo pass allowing full access to both conferences. View the full article
BP announced a significant milestone with the safe start-up of the Manuel project in the US Gulf of Mexico, the fourth of five major projects expected to be delivered globally in 2021. View the full article
About 95% of Gulf of Mexico oil production, and 94% of gas output had been shut-in as of Monday, according to the Bureau of Safety and Environmental Enforcement. View the full article
The UK unveiled its net-zero strategy as it tries to showcase its green credentials ahead of key climate talks later this month. It will move taxes from electricity to gas, fund carbon-capture, and offer grants for cleaner home heating. View the full article
A day after Halliburton Co. warned of an imminent oil shortage, larger oilfield rival Baker Hughes Co. offered a sunnier outlook. View the full article
Inflation in the oil sector is worsening and industry executives see no reason to expect cost pressures on everything from steel pipe to frac sand to ease any time soon. 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
Oil rebounded from an eight-month low as the market shrugged off a U.S. report showing swelling crude stockpiles and slumping demand. View the full article
Providing more detail on Exxon’s recently-announced efforts to commercialize low-carbon technologies, CEO Darren Woods stressed that partnering with outside investors would be a key objective. It would also mean Exxon would not need to fund large projects solely with its own cash. View the full article
In the space of a few weeks, Saudi Arabia, the United Arab Emirates, Qatar, Oman and Kuwait have all accelerated multi-billion-dollar plans to sell energy assets or issue bonds off the back of them. View the full article
The South Sudan Oil Licensing Round aims to attract interest from a diverse group of foreign investors to a region that is already home to oil and gas majors from China and Malaysia. View the full article
OPEC and its allies expect global oil markets will continue to tighten this year even as they revive output, but then flip into surplus again in 2022. View the full article
Guyana will likely become one of South America’s top oil producers over the next four years, but the world’s newest petrostate increasingly sees gas as the bedrock for growing its domestic economy. View the full article
Oil traders are scooping up options contracts that would pay out if U.S. crude futures plummet against international benchmark Brent, a signal that some believe the Biden administration could intervene in the market again to bring down oil prices. View the full article
Energy demand is expected to increase, and deepwater oil and gas will play a critical role in the energy mix in the future, ExxonMobil Vice President of Deepwater Jeff Weidner said during an executive dialogue. 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
INEOS is renewing its offer to the UK government and the new Prime Minister Liz Truss to drill a shale gas test well in the UK. View the full article
Oil prices surged to the highest levels in nearly two years after the OPEC+ alliance surprised traders with its decision to keep output unchanged, signaling a tighter crude market in the months ahead. 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.
