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Oil retreated after hitting $75 a barrel in London for the first time in more than two years, as Russia and other OPEC+ nations were said to consider increasing production. View the full article
Recoverable volumes from Troll phase 3, which will produce the Troll West gas cap, are estimated at as much as 347 billion cubic meters of gas. Converted into oil equivalent this amounts to 2.2 billion barrels. View the full article
Russia is keeping a tight grip on Europe’s energy market, opting against sending more natural gas to the continent even after President Vladimir Putin said he was prepared to boost supplies. View the full article
In the debate over why U.S. oil producers haven’t added additional supply, the boss of ConocoPhillips lays the blame squarely with the government. View the full article
Concerned about the growing safety risk posed by corrosion and other structural integrity issues associated with the global floating production fleet, American Bureau of Shipping pulled together an industry working group 18 months ago. View the full article
Varel Energy Solutions (VES) announced it has acquired Sledgehammer Oil Tools, an international leader in the supply of oilfield casing, cementing and completion products. View the full article
When managing multi-billion dollar offshore explorations for oil and gas reserves, discovering efficiencies is paramount. The efficiencies you find in your process greatly reduce costs – even a few minutes of downtime can cost a drilling operator thousands of dollars in lost productivity. View the full article
While the Biden administration promises to create millions of jobs on the march to carbon-neutral energy, the work that will be created won't look, or pay, like that with which oil and gas crews are accustomed. View the full article
Two of the most prominent energy conferences – the Offshore Technology Conference (OTC) and NAPE Summit – announced a first-of-its-kind “Synergy in Energy” partnership. Both events will be held Aug.16-20 in Houston and guests will have the option to purchase a combo pass allowing full access to both conferences. View the full article
Schlumberger’s decarbonization plan leverages technology to address operational emissions, customer emissions, and carbon-negative actions. View the full article
U.S. gasoline futures jumped after Hurricane Ida barreled ashore in Louisiana, disrupting processing facilities. Oil reversed early gains as local rigs may have escaped significant damage and the OPEC+ producers’ cartel is expected on Wednesday to endorse a supply increase. View the full article
Clariant’s Oil and Mining Services business has officially opened its new, state-of-the-art Eagle Ford Technology, Sales and Operations Center near San Antonio, TX. 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
It may have taken an investor rebellion, a pandemic and a war in Europe, but U.S. shale oil and gas producers are now on the cusp of making back their losses from the last decade. View the full article
West Texas Intermediate crude futures dropped as much as 10%, the most since March 9, while oil headed for its worst trading day in almost three months as recession fears iced markets, outweighing a fundamentally tight supply market. View the full article
Repair work to a vital Nigerian oil terminal is expected to be completed in late September, meaning almost two months of halted flows. View the full article
Schlumberger New Energy, Chevron Corporation, Microsoft and Clean Energy Systems announced plans to develop a ground-breaking bioenergy with carbon capture and sequestration (BECCS) project designed to produce carbon negative power in Mendota, California. View the full article
The American Petroleum Institute issued a statement from President and CEO Mike Sommers in advance of President Biden’s first joint address to Congress this evening. View the full article
A key spread between monthly oil futures contracts has blown out to the widest level in seven years as traders bet that U.S. crude inventories are about to get a whole lot tighter. View the full article
ChampionX announced that UNBRIDLED ESP Systems has introduced the SMARTEN PurePower Pro harmonic halter, a simple, cost-effective solution to effectively and efficiently manage harmonic distortion on local power grids throughout the life of unconventional oil wells. View the full article
In its October Short-Term Energy Outlook, the U.S. Energy Information Administration forecasts that natural gas spot prices at the U.S. benchmark Henry Hub will see the highest average winter price since 2007–2008. View the full article
As deadlines on ambitious green-energy targets draw nearer, the infrastructure and expertise of the fossil fuel industry has a critical role to play in reaching the world’s decarbonization goals. View the full article
Canada is becoming more reliant on the fossil-fuel sector, even as Prime Minister Justin Trudeau seeks to strengthen the country’s policies on climate change. View the full article
For over 20 years, the World Oil Awards have recognized and honored the upstream energy industry’s leading innovators and innovations and recognized changes in technology that have made a lasting impact. Nominations for this year's awards will be accepted through this Saturday, July 9, at midnight CST. View the full article
OEUK today responded to Prime Minister Liz Truss’s statement and her announcement of new measures to shield consumers from the surge in energy prices following Russia’s actions in Ukraine and subsequent supply issues across Europe. 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.