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Vantage Drilling announced it has entered into a marketing agreement with Eldorado Drilling AS to market the seventh-generation Dorado Drillship for drilling opportunities in various locations in Africa, the Mediterranean, Asia and Australasia. View the full article
Saudi Aramco’s venture arm has invested in UK-based Ori, an AI cloud startup backed by Spanish telecom giant Telefonica SA as it seeks to drive the kingdom’s push to become an artificial intelligence hub. No financial terms were disclosed. View the full article
U.S. President Trump ordered the creation of a White House council focused on steering the U.S. toward “energy dominance,” with the promise of action as soon as next week. The council will be led by Interior Secretary Doug Burgum, with Energy Secretary Chris Wright as its vice-chair. View the full article
Diamondback Energy is in talks to acquire Double Eagle, according to The Wall Street Journal and people familiar with the matter. The deal would be valued at around $5 billion, and a formal announcement could be made in the upcoming days, sources said. View the full article
Energy NL joins members of the energy sector in remembering the tragic sinking of the Ocean Ranger on Feb. 15, 1982. “Reflecting on the 43rd year since the tragic loss of 84 crew members of the Ocean Ranger, we are once again reminded of the harsh realities of working offshore," said Charlene Johnson, Energy NL CEO. View the full article
Kongsberg Maritime has developed a new mooring capable solution for Offshore Construction Vessels (OSCVs), expanding the capabilities of OSCVs beyond their current scope to include the pre-lay of mooring lines as a natural extension to original suction anchor capabilities. View the full article
The International Energy Agency has lowered expectations for a global oil surplus this year amid stronger demand growth in Asia and sanctions on OPEC+ nations. "Time and again, oil markets show adaptability in the face of major challenges," the agency said. View the full article
Mozambique has committed to “drill, baby, drill,” and expand exploration and production activity in a key message delivered by Florival Mucave, Chairman of the Mozambique Energy Chamber, during a roundtable event in Maputo on Thursday. View the full article
The upcoming launch of the South African National Petroleum Company reflects a broader trend across Africa, where nations are restructuring their state-owned energy enterprises to attract investment, improve efficiency and enhance energy security. View the full article
Sunnen Products Company has launched the HTE 1600W Tube Hone, an all-electric precision honing machine specifically designed for the oil and natural gas industry's demanding small diameter, long bore applications. View the full article
Petrobras has requested authorization from Brazil’s environment protection agency to prepare a drilling rig for work at a disputed offshore exploration project, a sign that the state-controlled producer is optimistic about overcoming licensing hurdles. View the full article
EDF and TAQA Geothermal have signed a strategic Memorandum of Understanding (MoU) to collaborate on geothermal energy technologies including power generation and HVAC applications as well as Compressed Air Energy Storage in Saudi Arabia. View the full article
ADNOC Drilling announced record financial results for both Q4 and full-year 2024, with Q4 revenue growing 41% year-over-year, and full-year revenue increasing 32% y-o-y. ADNOC attributes the success to its expansion of onshore and offshore fleets, and its oilfield services (OFS) segment. View the full article
ADNOC Gas has signed a 14-year sales and purchase agreement (SPA) with Indian Oil Corporation for the export of up to 1.2 million tonnes per annum (mtpa) of liquefied natural gas (LNG) to India’s largest integrated and diversified energy company. View the full article
(Bloomberg) – Pemex (Petroleos Mexicanos) will split profits with private-sector partners in joint ventures that may account for as much as 10% of the state oil company’s output, said Mexico President Claudia Sheinbaum. View the full article
ADNOC Gas has signed a 14-year sales and purchase agreement (SPA) with Indian Oil Corporation for the export of up to 1.2 million tonnes per annum (mtpa) of liquefied natural gas (LNG) to India’s largest integrated and diversified energy company. View the full article
STRYDE has secured a major contract to supply 42,000 autonomous nodes to Smart Seismic Solutions (S3). The nodes will be deployed on a 3D high-density seismic survey for the CarbonCuts CO₂ Storage Project onshore in Denmark. View the full article
Vipo has opened a new Swellable Packer Manufacturing facility in Monclova, Ohio. This factory was established to better supply the long-standing oil and gas customer with swellable packers for use in installations all over the world. View the full article
(Bloomberg) – Chevron Corp. plans to cut its global workforce by 15% to 20% by next year, as part of a broader cost reduction strategy. Chevron recently relocated its headquarters from Calif. to Houston, Texas, and is targeting between $2–3 billion in cost reductions by 2026. View the full article
TGS announced it has been awarded two 4D streamer contract acquisition projects, one in the North Sea and one in the Norwegian Sea. The 4D projects are scheduled to be acquired back-to-back and commence in June. View the full article
(Bloomberg) – BP Plc CEO Murray Auchincloss insisted that the company’s “fundamental reset” has been in the works for a year, while refusing to comment on an analyst’s question about whether he’s had engagement with activist Elliott Investment Management. View the full article
The U.S. expects bigger oil surpluses than it previously projected for this year and in 2026, driven by continued growth in American and non-OPEC production and projections that sanctions won’t likely dent Russian output. View the full article
Hilong Offshore, a subsidiary of China-based Hilong Group, has secured a transportation and installation contract for phase two of Eni’s Congo LNG project. The deal is valued at approx. $55 million USD (400 million yuan). View the full article
(Bloomberg) – Dar Petroleum Operating Co. has resumed producing oil from a number of its wells in South Sudan after almost a year, people with knowledge of the matter said. View the full article
Equatorial Guinea is aiming to revitalize its upstream sector, with plans to launch a new licensing round in 2025 aimed at increasing E&P activity. Equatorial Guinea’s last licensing round, held in 2019, offered 27 blocks for exploration and attracted significant industry interest. 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.
