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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
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
Exxon Mobil Corp. will award U.S. employees below-inflation pay increases in early 2022 despite a strong rebound in earnings over the past 12 months. 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
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
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
Activist investor Dan Loeb has built a position in Royal Dutch Shell Plc and is pushing for a breakup of the energy giant as it embraces renewable energy while continuing to pump oil and gas. 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
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
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
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
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
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
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
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
The U.S. is on track to grow oil production faster than the government is forecasting, according to a BloombergNEF analysis. 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
Traders have piled into oil this year, with output cuts from Saudi Arabia helping drive prices to the highest since February. View the full article
While President Joe Biden has been “jaw-boning” OPEC nations to pump more crude, the rest of the world finds it odd that the leader of the top oil producer isn’t paying more attention to domestic shale, said oil historian Daniel Yergin. 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
Uganda said it expects all potential lenders for the country’s planned $4 billion crude export pipeline to make their commitments by the end of November, smoothing the way to a targeted production start-up in early 2025. View the full article
Exxon Mobil Corp. plans to close two Houston-area office towers after a raft of unprecedented job cuts and employee departures over the past year and a half. View the full article
Qatar will spend billions of dollars expanding its LNG capacity more than 50% to 126 million tons a year. The Persian Gulf state is already the world’s main supplier of the super-chilled fuel, but new projects elsewhere -- especially in Australia and the U.S. -- have eroded its dominance. 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.