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OPEC and its allies agreed to revive more halted production as the outlook for global oil markets improved, with demand largely withstanding the new coronavirus variant. View the full article
The American Petroleum Institute (API) submitted comments urging the U.S. Department of the Interior (DOI) to open offshore acreage to safe and environmentally responsible American energy development. View the full article
Oil plunged to the lowest level in three weeks alongside a broader market decline with traders also concerned about growing supply from the U.S. and Iran. View the full article
Shale drilling in North America is going to slow down in the second half of the year from its breakneck pace as explorers cling to promises of austerity, according to Baker Hughes. View the full article
Aquaterra Energy has signed a partnership with renewable hydrogen producer and supplier Lhyfe and offshore drilling contractor Borr Drilling to develop an innovative concept for offshore green hydrogen production in the North Sea. View the full article
Iran’s President Hassan Rouhani said world powers have accepted that major sanctions on his country -- including those on oil, banking and shipping -- will be lifted as part of an agreement with the U.S. to revive a 2015 nuclear deal. View the full article
Out of $8.45 billion in profits BP posted for the second quarter, $3.5 billion will be used to buy back the company’s own shares, and the dividend will rise by 10%. View the full article
Shell Trinidad and Tobago announced that production has started on Block 5C in the East Coast Marine Area in Trinidad and Tobago. This marks a significant milestone in the delivery of gas both domestically and internationally through Atlantic LNG. View the full article
B3 CEO and co-founder Kelly Bennett said "This program is a commitment by B3 and its members to put words to action through collaboration and transparency to create meaningful solutions.” 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
One of World Oil’s most notable editorial advisors receives SPE’s ultimate distinction while also taking on new roles in the industry. View the full article
The Memorandum of Understanding details intent to carry out knowledge transfer initiatives in technologies relating to water, oil and gas treatment process engineering, onshore platform function and maintenance, along with offshore gas field management and energy transition principles. View the full article
OPEC+ responded to months of diplomatic efforts from US President Joe Biden with one of the smallest oil production increases in its history. View the full article
Noble Corporation and Pacific Drilling Company have entered into a definitive merger agreement under which Noble will acquire Pacific Drilling in an all-stock transaction. View the full article
Natural gas futures soared to $4 per million British thermal units in the U.S. for the first time since December 2018 as summer heat intensified concerns about tight supplies later this year. View the full article
Oil and gas producer Occidental Petroleum Corp.’s move to hedge its output has been a roller coaster over the past two years. View the full article
OPEC made only part of its planned production increase last month, with supplies hampered by disruptions in two of the group’s African members. View the full article
KCA Deutag announced it has signed a Sale and Purchase Agreement to acquire Saipem SpA’s onshore drilling business for a total consideration payable at closing of $550 million in cash and 10% equity interest in the group. View the full article
The C-Kore tools were used to test the electrical integrity of the subsea assets, giving quick feedback to the operator for their maintenance decisions on the field. View the full article
By deploying digital solutions enabled by the DELFI environment and running on Amazon Web Services, Schlumberger customers can run complex models, computer simulations, and analyses in a fraction of the time compared to traditional computing solutions. View the full article
A natural gas pipeline linking Russia and Germany edged closer to completion after the Biden administration loosened sanctions of the controversial project, but significant hurdles remain before the fuel can start flowing under the Baltic Sea. View the full article
Americans should have enough natural gas to keep homes warm and factories running, avoiding the kind of shortages that are crippling Europe and Asia, even if the coming winter gets particularly cold. View the full article
Shell Plc won official consent to develop the Jackdaw natural gas field in the UK’s North Sea, eight months after the country’s regulator blocked the project on environmental concerns. View the full article
Chesapeake Energy Corp. plans to exit the Eagle Ford Shale of South Texas while doubling down on two other natural basins as the energy company focuses on natural gas production while retreating from oil. View the full article
Spare capacity in the oil market will shrink significantly next year as travel rebounds and due to a lack of investment among producers, according to Saudi Aramco. 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.
