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At present, OPEC+, the Organization of Petroleum Exporting Countries plus Russia, resembles an unstable nucleus of a radioactive atom; judging by what we hear on political front, there seems to be an uneasy compliance with self-imposed quota-limits with murmurs of cacophonies.
Although crude price dipped slightly over the past two days, it is still high and countries that desperately need petro cash to prop up under-performing economies are deprived of a once-in-a decade opportunity to ca
The revision, which mainly affects the next few months, follows a recommendation from OPEC Secretary-General Mohammad Barkindo that the coalition should remain very cautious. View the full article
Zhoushan is also home to some of the country’s largest oil terminals and storage tank farms. The same restrictions do not extend to ships transporting cargoes from India, according to an official from Zhoushan port and oil traders who asked not to be identified. View the full article
Angola’s National Oil, Gas and Biofuel’s Agency (ANPG) is organizing two question and answer sessions, aimed at investors globally to clarify information on its ongoing bid round for onshore oil and gas blocks in the Congo and Namibe basins. View the full article
Neptune Energy announced that the operator, Eni, said production has started from its Merakes development in the East Sepinggan block offshore Indonesia. View the full article
Halliburton, which controls more fracing capacity than any other company, predicted North American explorers will boost spending by 35% this year, up from a pre-war forecast of 25%. View the full article
Shell will leverage Akselos’ Structural Performance Management (SPM) software to monitor the structural health of critical assets across the Shell portfolio in near real-time. Akselos’ SPM software will help enable Shell to optimize the lifecycle of critical assets safely and sustainably. View the full article
The Dutch Mining Council, an independent advisory body to the government, told the cabinet in a letter that it should consider tapping Groningen as an emergency measure to fill storage for the winter, with Russian supplies due to be stopped by the end of the year. View the full article
Oil markets are closely watching the negotiations for any clues as to when the OPEC member will be able to resume crude sales, and how quickly Washington will allow it to ramp up production. 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
The Biden administration’s decision to allow the line to keep operating is a victory for pipeline owner Energy Transfer LP and drillers such as Continental Resources Inc. that use it transport crude from North Dakota’s Bakken oil field. View the full article
Devon Energy and ConocoPhillips are among potential suitors studying Royal Dutch Shell's portfolio of Permian Basin oil fields, which could be worth as much as $10 billion in a sale, people familiar with the matter said. Chevron is also among companies considering bids for the assets, which are largely located in West Texas, the people said. View the full article
The borrowing plan underscores how badly Persian Gulf countries were impacted by the drop in crude prices last year as the coronavirus pandemic spread and energy demand plunged. View the full article
National Ocean Industries Association (NOIA) President Erik Milito said NOIA will review and work with industry and regulators to ensure that the proposed regulatory changes increase safety and decrease risk after the Department of the Interior announced proposed changes to the Well Control Rule. View the full article
BP announced that it is developing plans for the UK’s largest blue hydrogen production facility, targeting 1GW of hydrogen production by 2030. The project would capture and send for storage up to two million tons of CO₂ per year. View the full article
A preliminary deal struck on Thursday to increase oil production by 400,000 barrels per day was thrown into chaos when the United Arab Emirates threatened to block the deal without a higher output quota for itself. View the full article
Californian Governor Gavin Newsom will ban new hydraulic fracturing permits in the coming years as the state pushes to eliminate net greenhouse-gas emissions by 2045. View the full article
OMMICA has supplied portable testing kits to one of Saudi Arabia’s leading oil and gas producers, a landmark achievement after almost 15 years utilizing its in-house chemical testing methodology. View the full article
The Energy Workforce and Technology Council’s 2021 Annual Meeting is set for September 15-17 in Santa Ana Pueblo, New Mexico, and registration is open now. View the full article
OPEC+ has begun discussions about lowering oil output when it meets next week, as a fragile global economy continues to weigh on crude prices. View the full article
Democrats’ plan to reinstate a 27-year-old fee on oil imports represents a violation of a pledge by President Joe Biden not to raise taxes on anyone making less than $400,000 per year, according to Americans for Tax Reform. View the full article
Nigerian President Muhammadu Buhari reversed a government decision to revoke four oil permits from a unit of China’s Sinopec. View the full article
Iran’s President Hassan Rouhani said world powers have accepted that major sanctions on his country -- including those on oil, banking and shipping -- will be lifted as part of an agreement with the U.S. to revive a 2015 nuclear deal. View the full article
The twin suicide bombings in Baghdad, the Iraqi capital, once again shows the vulnerability of the oil-rich nation in a perpetually volatile region, especially when the West started gradually pulling out its troops.
Although Iraqi leadership talks with pride about the country being free from foreign interference, the situation on the ground is far from being conducive for it – judging by the daily protests by the people over corruption, mismanagement, lack of basic care and of course, deter
Talos Energy Inc., the U.S. offshore explorer behind Mexico’s largest oil discovery in years, is taking the first step toward an international dispute after control of the field was given to state producer Pemex. 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.
