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CGG announced that Sercel, its Sensing & Monitoring division, has acquired Geocomp Corporation, specialized in high-value services and products for geotechnical risk management and infrastructure monitoring. View the full article
BHP Group and Woodside Petroleum Ltd. approved investment in a $12 billion Australian gas project as the companies also confirmed details of a merger to combine their energy assets. View the full article
U.S. shale producers are on course to make nearly $200 billion this year, enough to make the industry debt-free by 2024 and potentially fund a pivot toward more natural gas production, according to Deloitte LLP. View the full article
The future of carbon storage moved a step closer today with 26 bids coming in for the UK’s first-ever carbon storage licensing round. View the full article
A $1 billion project to haul natural gas from Pennsylvania to New Jersey has become the latest casualty of opposition to pipelines across the U.S. View the full article
Futures tumbled 1.2% in New York Wednesday as CNBC reported that the White House contacted OPEC leader Saudi Arabia to help stabilize U.S. gasoline prices. View the full article
Contrary to the tone of some news coverage, an analyst at Evercore ISI sees the overnight news that Senator Manchin convened a bipartisan group, together with Senator Murkowski (R-AK), to discuss a bipartisan energy bill, as bad news for the prospects of energy legislation before the midterm elections. View the full article
The court of appeals in Nigeria’s capital, Abuja, overturned a 2019 ruling that granted Shell Petroleum Development Co. the right to renew its operating license for the Oil Mineral Lease 11 field. Those rights will transfer to the state-owned Nigerian National Petroleum Corp. View the full article
Buoyed by high oil prices, the bosses of the biggest explorers this week laid out a vision for the energy transition that hinges on more fossil-fuel investment rather than less. View the full article
Noble Corp. and Maersk Drilling offered to divest some of its offshore operation platforms to avoid an in-depth investigation from the U.K.’s antitrust regulator over the $2.6 billion deal, potentially smoothing the way for approval. View the full article
Russian gas giant Gazprom PJSC missed its own “conservative” target for 2021 exports to Europe, and those capped flows contributed to the continent’s worst energy supply crunch in decades. 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
European gas prices surged more than 20% as Russia’s Gazprom PJSC confirmed that it halted gas flows to Bulgaria and Poland, saying it will keep supplies turned off until the two countries agree to Moscow’s demand for rubles -- a dramatic escalation with Europe as its invasion of Ukraine presses forward. View the full article
Environmental groups sued the Biden administration to block its revival of plans to allow new oil drilling on public land in western states. 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
U.S. companies with contracts to buy only renewable power are still relying heavily on fossil fuels because of a lack of clean-energy supplies, a Columbia University study has shown. View the full article
There may never be a new refinery built in the US despite surging gasoline prices as policymakers move away from fossil fuels, according to Chevron Corp. View the full article
BP sold out of Canada’s oil sands, divesting its stake in the Sunrise project to Cenovus Energy Inc. while acquiring offshore exploration from the same company in the east of the country. View the full article
A daily increase of 400,000 barrels in oil output would be enough to meet demand, according to Iraqi Minister Ihsan Abdul Jabbar. View the full article
The state-run oil champion led by a close ally of President Vladimir Putin has seen the largest drop in production since the invasion of Ukraine. View the full article
China slashed its fuel export quota by more than half in the first batch of allocations for 2022, highlighting the nation’s strategy of progressively limiting overseas sales. 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
The U.S. will release 50 million barrels of crude from its strategic reserves in concert with China, Japan, India and South Korea and the UK -- an unprecedented, coordinated attempt by the world’s largest oil consumers to tame prices that could prompt a backlash by OPEC+. View the full article
Government climate policies and the transition away from fossil fuels are not to be blamed for the energy crisis ravaging Europe and Asia, according to the International Energy Agency. View the full article
Sembcorp Marine Ltd successfully completed the delivery of the world’s first eighth-generation drillship, the Deepwater Atlas, for Transocean’s subsidiary Triton Atlas GmBH. 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.