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An oil-data startup backed by Palantir Technologies Inc. co-founder Joe Lonsdale plans to help energy explorers, bankers and investors figure out how much crude and natural gas reserves trapped underground are really worth. View the full article
As President Biden prepares to meet with Saudi officials on Friday, the American Petroleum Institute released a video once again inviting the president to visit American energy sites and support American producers. View the full article
Saudi Aramco posted its highest profit since its record stock-market listing, after oil prices surged in the wake of Russia’s invasion of Ukraine. View the full article
The European Court of Human Rights is asking Norway to respond to charges by activists that allowing new oil and gas drilling in the Arctic during an environmental crisis may breach fundamental freedoms. View the full article
The U.S. Energy Information Administration projects that, absent significant changes in policy or technology, world energy consumption will grow by nearly 50% between 2020 and 2050. View the full article
Offshore Energies UK thanked the Chancellor of the Exchequer for a “candid and constructive” meeting with the nation’s gas and oil producers - but warned that his new energy profit levy risks undermining attempts to attract capital investment to the UK. View the full article
Oil prices pose a high risk to the global economic recovery, with signs that fuel costs are starting to “take their toll” on demand growth, the International Energy Agency said. View the full article
Mexico cut its forecast for oil production at Pemex next year and reduced its tax burden after a string of accidents at offshore platforms signaled the highly indebted state company is struggling. View the full article
Amplify Energy Corp. was charged with criminal negligence in California’s worst oil spill in almost three decades, in which an estimated 25,000 gallons (94,635 liters) of crude oil leaked from a submerged pipeline off the coast of San Diego. View the full article
U.S. crude output will grow at a more diminished pace than previously expected as shale producers grapple with higher production and labor costs amid rampant inflation. View the full article
Mewbourne Oil Co., the largest private oil producer in the U.S., said it will remain in the hands of its controlling family after the recent death of its eponymous founder. View the full article
President Joe Biden should “back off” from domestic anti-oil policies if he wants to keep crude prices in check, according to one of America’s biggest shale drillers. View the full article
National Oil Company Petrobras is focusing on output growth from pre-salt, following a trend of Brazilian oil independents raising output at fields the NOC already divested, Petroleum Economist reported. View the full article
Oil driller Hilcorp Energy Co. is lavishing $75,000 bonuses on employees as reward for reaching multi-year expansion and production goals. View the full article
Cairn Energy Plc shareholders can expect a payback of as much as $700 million once the UK oil producer settles a long-running tax dispute with India. View the full article
Bottlenecks in the global supply chain threaten to drive up renewable-power costs, reversing a decade-long trend that made wind and solar mainstream. View the full article
Cognite announced a collaboration with Equinor to expand data capabilities and support the company’s digital ambitions. View the full article
Norway’s opposition Labor Party is on course to oust the Conservative-led government after two consecutive terms in an election dominated by disputes over the Nordic economy’s dependence on fossil fuel. View the full article
Tracerco has been commissioned to provide asset integrity data for an operator in the Gulf of Mexico seeking to extend the life of over 18 of their risers. View the full article
West Texas Intermediate futures tumbled 3.4% to close at the lowest in more than two weeks. The delta variant of Covid-19 has been detected in almost half of China’s 32 provinces in two weeks, and at least 46 cities have advised residents against non-essential travel. View the full article
Saudi Arabia’s oil exports reached $31 billion in June, the highest in at least six years, driven by a rally in prices and rising production. View the full article
Energy Workforce & Technology Council honored Congressman Kevin Brady (R-TX-08) with the "Champion of American Energy" award during a lunch in Washington, D.C., for his relentless and uncompromising commitment to the oilfield services industry and the domestic energy sector. View the full article
ADNOC Drilling will acquire eight FlexRig land rigs from HandP for $86.5 million, after which HandP will make a $100 million cornerstone investment into ADNOC Drilling’s recently announced initial public offering. View the full article
Oil climbed above $70 a barrel in New York after three weeks of gains as investors tracked the slow restoration of supplies in the Gulf of Mexico and the outlook for demand and inventories over the fourth quarter. View the full article
ADNOC Drilling Company and Helmerich and Payne, Inc. jointly announced the finalization of the Rig Enablement Framework Agreement, streamlining ADNOC Drilling’s operations, reducing costs and building shareholder value. 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.