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Two Libyan ports have been forced to stop loading oil after protests calling for Prime Minister Abdul Hamid Dbeibah to step down spilled over into the OPEC member’s energy sector. View the full article
Norway, Western Europe’s biggest oil producer, has more than 50% of its recoverable resources still in the ground, according to the Norwegian Petroleum Directorate. The Barents Sea probably holds most of that, yet there’s only one oil field and one gas field currently producing. View the full article
Phillips 66 may idle a New Orleans-area refinery that suffered so much damage during Hurricane Ida that repairs may be too costly, according to people familiar with the operation. View the full article
Saudi Arabia’s exports soared in October as the world’s biggest oil exporter benefited from higher crude prices. View the full article
There have been signs across the oil market of traders expecting tighter supplies following the Saudi cuts. The shape of the Brent futures curve returned to backwardation earlier this week, meaning more immediate prices are trading at premiums. View the full article
Benchmark U.S. oil futures have advanced 45% this year and at that pace are on track for the biggest annual increase since 2016. In returning so much cash to shareholders, shale drillers are showing they will pass on gains from higher crude prices rather than use them to increase production. View the full article
From 2019 to 2020, petroleum consumption decreased in every energy-consuming sector in the United States, including a record 15% decrease in the transportation sector. View the full article
New British Prime Minister Liz Truss removed a ban on drilling for shale gas, an effort to boost domestic energy supply that will have to overcome the same obstacles that stymied the industry for the past decade. View the full article
OPEC delivered barely half the oil-production increase it had planned for October as African members continued to struggle with output losses. View the full article
The search for natural gas has drawn attention to a number of African gas projects that are likely to help Europe in the future, particularly as the EU looks to make a permanent shift away from dependence on Russian gas. View the full article
The regulations will slow the permitting process for critical energy infrastructure dramatically and create new obstacles not only for natural gas and oil development but also the deployment of CCUS and hydrogen infrastructure, API said. View the full article
Iraq cut the price of its banner crude for U.S. customers sharply, a bold deviation from what Saudi Arabia chose to do with its own barrels just a few days ago. View the full article
Subsea7 has entered into four long-term vessel charter agreements with Otto Candies LLC and Bordelon Marine LLC, to strengthen offshore construction, inspection, maintenance and repair, ROV survey, and pipe/umbilical laying support operations, in the Gulf of Mexico. View the full article
Targa Resources Corp. has agreed to buy Permian natural gas processor Lucid Energy Delaware LLC from Riverstone Holdings LLC and Goldman Sachs Asset Management for $3.55 billion in cash. View the full article
The Biden administration’s efforts to lower energy costs may have gotten unexpected help from the latest coronavirus variant. View the full article
Oil gained after a U.S. industry report showed another decline in inventories of crude and gasoline, signaling a tightening market. View the full article
The new taxes imposed on the UK’s offshore oil and gas operators are a backward step by a government which, just weeks ago, was pledging to build a greener and more energy-independent nation, Offshore Energies UK said. View the full article
The investment supports ADNOC’s oil production capacity plans of five million barrels per day by 2030 while ensuring energy security for the United Arab Emirates and partners around the world. View the full article
Neptune Energy announced the safe and successful installation and testing of the world’s longest trace-heated subsea production pipeline at its operated Fenja field in the Norwegian sea. View the full article
Baker Hughes Company has announced it is restructuring and simplifying its organization and accelerating its strategic transformation. These changes will simplify operations, enhance profitability, and drive growth, meeting customer needs and producing solutions in the rapidly evolving energy and industrial markets. View the full article
Technip Energies has been awarded a contract by the Abu Dhabi National Oil Company (ADNOC) to update the FEED for the Ghasha mega project including accelerating the integration of carbon capture into the development. 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
Arabian Drilling Co., a Saudi oilfield-services firm partly held by Schlumberger NV, hired Goldman Sachs Group Inc, HSBC Holdings Plc and SNB Capital to manage its IPO in Riyadh, seeking to join a steady stream of Gulf firms tapping equity markets. View the full article
Oil pared losses after Royal Dutch Shell Plc. said a critical U.S. Gulf of Mexico oil-production platform will be out of service for the rest of this year. View the full article
After driving up prices for everything from steel pipes to frac sand to labor, inflation has finally ensnared the centerpiece of oilfield equipment: the drilling rig. 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.