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Hedge funds and other investors looking to cash in on Brazil’s surging oil and gas output are turning to a new breed of drillers as an alternative to turmoil-wracked Petroleo Brasileiro SA, the state-owned producer that’s had four CEOs since early 2019. View the full article
Libya’s government, National Oil Corp. and protesters have reached an agreement to reopen oil fields and export terminals, officials said. View the full article
Half-year data points for the offshore market released by Clarksons Research, profiling improving activity, utilization and day rates across the offshore oil and gas market, show the overall index is up 17%. View the full article
As President Biden prepares to meet with Saudi officials on Friday, the American Petroleum Institute released a video once again inviting the president to visit American energy sites and support American producers. View the full article
Well construction expert DeltaTek Global announced its QuikCure® technology has received a U.S patent, confirming the unique attributes and technical make-up of the company’s rapid cement hydration offering. View the full article
Mubadala Petroleum announced that the drilling of the Timpan-1 exploration well offshore North Sumatra, Indonesia, has been completed with the discovery of a 390-foot gas column. View the full article
As U.S. President Joe Biden prepares to visit the Persian Gulf to get more oil onto global markets, political turmoil in another part of OPEC threatens to further undermine the cartel’s production. 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
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
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
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
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
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
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
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
For over 20 years, the World Oil Awards have recognized and honored the upstream energy industry’s leading innovators and innovations and recognized changes in technology that have made a lasting impact. Nominations for this year's awards will be accepted through this Saturday, July 9, at midnight CST. View the full article
Varel Energy Solutions (VES) announced it has acquired Sledgehammer Oil Tools, an international leader in the supply of oilfield casing, cementing and completion products. View the full article
Abu Dhabi National Energy Company PJSC (TAQA), one of the largest utilities in Europe Middle East and Africa, completed the strategic review of its oil and gas business announced in September 2021. View the full article
North Sea-focused oil and gas operator Ithaca Energy announced that its acquisition of Siccar Point Energy, an Aberdeen-based energy company, has been completed with all conditions having been met. View the full article
Through the agreement, Longboat farmed-in to two near-term, gas weighted exploration prospects on the Norwegian Continental Shelf targeting combined gross unrisked mean prospective resources of 223 MMboe. 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.