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SBM Offshore has been awarded contracts to perform front end engineering and design for an FPSO for the Yellowtail development project. The FEED contract award triggers the initial release of funds by ExxonMobil’s subsidiary Esso Exploration and Production Guyana Limited to begin FEED activities and secure a Fast4Ward hull. View the full article
India’s windfall tax on domestic crude oil production and fuel exports may help the government bring in 1 trillion rupees ($12.7 billion) in revenues, Press Trust of India reported. View the full article
Oil output in America’s most prolific shale patch is getting closer to levels seen before the pandemic-driven market crash, as crude prices surge. View the full article
The world’s biggest energy companies are producing the most cash in years, but don’t expect them to spend it on bringing on fresh supplies of oil and natural gas to combat shortages in Europe and China this winter. View the full article
OPEC and its allies once again failed to pump enough oil to meet their output targets, exacerbating the supply deficit as the world recovers from the coronavirus pandemic. View the full article
Equinor ASA is boosting natural gas exports to ease Europe’s supply crunch, sacrificing some oil production in the process. View the full article
The potential emergency order that Biden is mulling would unlock broad executive powers to propel clean-energy construction, restrict oil drilling and curb fossil fuel use. View the full article
Royal Dutch Shell Plc has evacuated non-essential staff from its floating liquefied natural gas facility in northwest Australia as the operator struggled to restore power that knocked out operations earlier in the week, according to people familiar with the matter. View the full article
Fossil fuel companies should face probes on whether they’re using “loophole-ridden” environmental, social and governance goals to boost executive pay while contributing to environmental destruction, Senator Elizabeth Warren said, adding to her calls to rein in CEO compensation. View the full article
European natural gas futures jumped, extending their rebound from last week’s slump, as shipments from Russia fell. 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
“We have pretty significant positions in emerging basins in Guyana and Argentina and we’re looking at farm-down opportunities there,” Chief Executive Officer Rahul Dhir said in an interview in Dubai. View the full article
President Joe Biden is preparing to announce a release of oil from the nation’s Strategic Petroleum Reserve in concert with several other countries as soon as Tuesday, according to people familiar with the plan. View the full article
Spears & Associates Managing Director Richard Spears’ talk, titled, How extreme financial discipline impacts drilling activity in 2022 and 2023, outlined what has caused oil companies to display uncharacteristic financial restraint, despite surging oil prices. View the full article
The Biden administration plans to slash the amount of biofuel that must be mixed into gasoline and diesel, according to people familiar with the matter, dealing a blow to ethanol producers and the agriculture industry. View the full article
Harold Hamm, one of the richest and most prominent shale wildcatters, is finally taking a stake in North America’s biggest oil field. View the full article
Oil rose after a two-day decline with a selloff in global equities easing and some crude output still shut three weeks after Hurricane Ida hit the U.S. View the full article
Oil in London rose past $85 a barrel for the first time since 2018, the latest milestone in a global energy crunch that has seen prices soar. View the full article
The first oil from President Joe Biden’s release from the country’s emergency crude reserves is being granted to Exxon Mobil Corp. View the full article
Saudi Arabia’s finance minister echoed warnings from the kingdom’s oil officials that a slowdown in fossil-fuel investment globally will cause spikes in energy prices. View the full article
Saudi Arabia’s oil exports reached $30 billion in March, the highest in at least six years, driven by a rally in oil prices and rising production. View the full article
KFX CO2 simulation software is being developed by DNV and Equinor to increase safety in carbon capture and storage. View the full article
The UK Oil and Gas Authority has awarded a carbon dioxide appraisal and storage license to Harbour Energy, boosting the drive to reach net zero greenhouse gas emissions by 2050. View the full article
Venezuela’s economy is forecast to expand at its fastest pace in 15 years, marking a rebound for a country that recently emerged from the deepest recession in Latin America. View the full article
The recovery of the shale patch workforce is still years in the making despite the frothy profits that rallying crude prices are generating for U.S. oil companies and their contractors. 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.
