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The new pipeline will help ease a supply crunch in the European market, with the news sending benchmark futures in the Netherlands down as much as 12%. View the full article
BP Plc is beefing up its bid to develop wind projects off Scotland’s coast with the promise of creating hundreds of local jobs if it wins. View the full article
Exxon Mobil Corp. and Chevron Corp. added momentum to a nascent recovery in the U.S. oil industry as they reported bumper cash flow, a dramatic improvement after a torrid 2020. View the full article
KBR is launching a study to develop a carbon-neutral, green ammonia-based system to power a semi-submersible drilling unit owned by Odfjell. View the full article
President Joe Biden’s energy chief extended an olive branch to the oil industry Tuesday, telling executives a crude export ban is not under consideration, while assuring them that the administration was “not a bogeyman.” View the full article
Iran warned that proposed U.S. legislation targeting the Islamic Republic could further imperil stalled Biden administration efforts to resurrect the moribund nuclear deal. View the full article
Wood, the global consulting and engineering company, has been awarded a multi-region engineering services contract by bp to support efficient and safe energy production through the provision of asset repairs, modifications and enhancements. View the full article
Shell’s entry into this block signifies a further commitment to Oman, while enhancing and diversifying Shell’s gas supply. View the full article
Big Oil is walking away from tens of billions of dollars of Russian assets, but $100 crude is easing the sting. View the full article
Executives from Exxon Mobil, Chevron, Royal Dutch Shell and BP were urged by U.S. lawmakers to abandon the leading oil-industry trade group and cut off funds to any groups sowing doubts about climate science. View the full article
Over the long-term, the impacts of behavioral shifts due to COVID-19 are minor compared to “known” long-term shifts such as decreasing car ownership, growing fuel efficiencies and a trend towards electric vehicles, whose impact is estimated to be three-to-nine times higher than the pandemic’s by 2050. View the full article
EOG Resources Inc., one of the biggest U.S. shale oil producers, is ready to ramp up output as soon as this summer if the market demands it. View the full article
ExxonMobil reported a significant discovery at Whiptail in the Stabroek Block offshore Guyana. The Whiptail-1 well encountered 246 feet (75 meters) of net pay in high quality, oil-bearing sandstone reservoirs. View the full article
Oil declined by the most in two weeks in the wake of growing U.S. inventories and after Russia signaled it is ready to help ease a global energy crisis. View the full article
Angola, which relies on oil for more than 90% of its exports, has been struggling to recover from the 2014-2016 collapse in prices. It has also not been able to boost investments, needed to increase production from its aging fields. View the full article
Oil leaders and their allies on Capitol Hill are panning the approach, saying it does nothing to address more fundamental problems holding back U.S. crude and gasoline production. View the full article
Norway approved higher production from key natural-gas fields in an effort to maintain record exports as Europe reels from cuts in Russian supply. View the full article
At the start of Q1 2022, global oil and gas industry contract activity was stifled due to the Russia-Ukraine conflict. However, in the second half of the quarter a minor increase in the number of contracts was reported. View the full article
North Sea nations and oil companies face costs of more than $100 billion to shut down old wells in the depleted region. Researchers in Norway believe they can cut that figure dramatically. View the full article
The Spotlight on New Technology Award recognizes companies that have created new and advanced technologies that play a role in advancing the offshore oil and gas sector into the forthcoming years. View the full article
Nigeria said foreign experts are needed to help plug an oil spill reported earlier this month by local producer Aiteo Eastern EandP Co. View the full article
Royal Dutch Shell raised its dividend by almost 40% and said it will buy back $2 billion of shares, continuing an effort to win back investors as stronger oil prices and a buoyant chemicals market lifted earnings. View the full article
The high-performing electric frac solution reduced emissions for Chesapeake by 32% and applied over 25 megawatts of lower-carbon power generation by leveraging Chesapeake’s local field gas network. 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
Oil tumbled to the lowest in nearly six weeks as investors considered the prospect of a release of crude supplies from strategic reserves. 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.