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Amid rising shareholder pressure on climate issues, Chevron is proactively forging climate-friendly joint ventures with an array of startups as well as corporate giants that include Caterpillar Inc., and Alphabet Inc.’s Google. View the full article
The decline in U.S. drilling and output leaves little competition to OPEC's efforts to manage markets, Mike Muller, Vitol’s head of Asia, said during an online conference on Sunday. Brent crude closed above $70 a barrel last week for the first time in two years, as buyers demand more oil than producers are pumping. View the full article
Government-owned Abu Dhabi National Oil Co. picked Occidental to explore for oil and natural gas at a block in the desert along the UAE’s border with Oman, ADNOC said Wednesday in a statement. The block is adjacent to an exploration area that ADNOC awarded to Occidental last year. View the full article
It’s not the first time India, one of the biggest buyers of the producer group’s crude, has urged the Organization of Exporting Petroleum Countries and its partners to pump more oil. View the full article
Futures in New York jumped 5.9% on Wednesday, just about erasing the prior session’s price plunge that pushed futures to the lowest since early February. A U.S. inventory report showed domestic fuel consumption is at the highest in four months and Gulf Coast refiners are increasing their appetite for crude. 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
The decision means Canada's most ambitious environmental policy to date, which would see the baseline price on carbon rise to C$170 ($135) per metric ton by 2030, will stand. 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
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
An upstart driller in Mexico aims to provide 10% of the country’s natural gas needs as it develops prospects south of Texas’s border. View the full article
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
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
Nigerian President Muhammadu Buhari reversed a government decision to revoke four oil permits from a unit of China’s Sinopec. View the full article
President Joe Biden’s effort to tame pump prices by tapping government oil stockpiles could backfire for one simple reason: American gasoline prices more closely track international, rather than U.S., oil benchmarks. View the full article
The reforms – first submitted to parliament in 2008 and conceived at the start of the millennium – are intended to remove legal and regulatory uncertainty that has held back progress on numerous deferred oil and gas projects. View the full article
MCE Deepwater Development returned to its in-person conference in London this month. By all accounts, it exceeded its goal of bringing together technical experts from across the global industry. View the full article
Schlumberger announced an award to Subsea Integration Alliance of a large contract by Equinor on its Bacalhau project offshore Brazil. The contract scope covers the engineering, procurement, construction and installation of the subsea production systems and subsea pipelines. 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
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
In honor of the late H.E. Muhammad Sansui Barkindo – oil industry veteran and former Secretary General of the Organization of Petroleum Exporting Countries (OPEC) – the African Energy Chamber renamed its African Energy Week Lifetime Achievement Award to the Mohammad S. Barkindo Lifetime Achievement Award. View the full article
U.S. prosecutors alleged that Emilio Heredia, a former Glencore employee, directed buy and sell orders that would push fuel oil prices up and down. That allowed the companies he worked for to profit from the price swings, between 2012 and 2016, according to a filing at a U.S. District Court in San Francisco on March 15. View the full article
The crew is operating with an 80,000-channel 508XT land acquisition system, with QuietSeis digital sensors and ten Nomad 90 Neo broadband vibrators in challenging desert terrain. 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
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
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
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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.
