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The Biden administration called on OPEC countries and U.S. regulators to do more to ensure a stable energy supply, with a specific focus on retail gasoline prices that the President pledged to keep affordable. View the full article
With the U.S. unlikely to ever reach previous crude production levels, OPEC+ is moving to roll back part of their oil supply cuts in the coming months. View the full article
Commenting on the passage of the bill, American Petroleum Institute President and CEO Mike Sommers said “At a time when energy prices have risen alongside broader economy-wide inflation, the House reconciliation bill would only exacerbate the challenges facing Americans." View the full article
Latest analysis from Westwood Global Energy Group reveals a healthy recovery roadmap for the global land rig market, driven by higher commodity pricing and mounting pressures around energy security. View the full article
Latest analysis from Westwood Global Energy Group reveals that, in spite of challenges due to COVID-19 and the accelerating energy transition, high impact oil and gas exploration drilling in 2021 maintained its momentum. View the full article
Analysis from Westwood Global Energy Group indicates offshore wind energy projects final investment decisions (FIDs) will grow by 57% in the next year. View the full article
While a recovery is anticipated year-on-year through 2025, it is expected to be gradual and characterized by operator caution as they navigate several important considerations - pace of global demand recovery, the energy transition, and geopolitics. View the full article
Wentworth Resources, an independent, Tanzania-focused natural gas production company, announces that it has reached agreement with Scirocco Energy plc to acquire its 25% non-operated working interest in the Ruvuma Production Sharing Agreement, in Tanzania. View the full article
Girish Saligram, Weathrford's President and CEO said "We believe this is the right time in our reemergence to relist on the NASDAQ stock exchange and that doing so will enhance long-term shareholder value by improving the Company's visibility, expanding liquidity in our ordinary shares, and providing a broader institutional investor base the opportunity to invest in the new Weatherford." View the full article
Libya’s oil exports, already sharply curtailed following a blockade by paramilitaries in the west, are set to fall further after bad weather closed ports in the east. View the full article
Saudi Arabia’s export revenue fell by nearly a quarter in October from a year earlier, driven largely by a slump in global oil prices. View the full article
At an open meeting of the Railroad Commission of Texas, Commissioner Wayne Christian was unanimously elected Chairman for a second time. View the full article
Guyana has some of the world's biggest offshore discoveries made in years, with 10 billion barrels of recoverable oil and gas starting to come online since 2019. Sulzer has delivered 11 high pressure water injection pumps, and the latest order for five more HPcp pumps will support the largest FPSO in the Stabroek block. View the full article
The Madero and Ignacio energy storage plants will deliver valuable grid support to the Electric Reliability Council of Texas (ERCOT), the body responsible for managing the electric supply to more than 25 million customers. View the full article
The Wärtsilä system will enable a subsidiary of RWE Renewables, Hickory Park Solar, LLC, to sell nearly 200 MW of generation from the solar PV panels to Georgia Power Company. View the full article
The stage is set for an epic show; the battle lines are drawn. People across the world, some of who have never been bothered about stock markets or investors for that matter, are watching the duel between the hedge funds and the WallStreetBets, the Reddit group that grabs headlines this week, for variety of reasons.
In the profile picture of the WallStreeBets, a gentleman resembling President Trump, is making coded gestures, perhaps in the form of a rallying cry, while remaining in charter
If the first initial public offering of a U.S. shale driller in four years is any indication, Wall Street is still souring on the U.S. oil and gas patch. View the full article
Could the era of cheap oil supply be gone for good? That’s the conclusion of some of the biggest commodities desks on Wall Street, where banks have been lifting their long-term price forecasts, often by $10 or more. View the full article
The U.S. may allow more sanctioned Iranian oil onto global markets even without a revival of the 2015 nuclear accord, according to the biggest independent crude trader. View the full article
Saudi Arabia’s larger-than-expected rise in oil prices is a signal it will continue resisting U.S. pressure to pump faster, according to Vitol Group. View the full article
The world’s largest independent oil trader expects crude’s rally to continue on the assumption any OPEC+ output hikes will fail to keep pace with growth in demand. View the full article
Vitol Group is said to be near a purchase of Hunt Oil Co.’s Permian Basin oil wells in what would mark the biggest independent crude trader’s first major acquisition of U.S. production assets, according to people with knowledge of the matter. View the full article
Natural gas producer Vine Energy has signed a contract with global Baker Hughes to deploy its artificial lift solution, ProductionLink Edge, across 100 natural gas wells in Louisiana’s Haynesville Shale. View the full article
VIKING Life-Saving Equipment has selected Norfolk, Virginia, as the hub to support the safety needs of North America’s fast-emerging offshore wind sector. View the full article
Veteran commodities trader Pierre Andurand said it’s “hard to think of a downside” to a proposed oil price-cap on Russian crude that’s been floated by U.S. Treasury Secretary Janet Yellen. 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.
