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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
Vitol Group is said to be near a purchase of Hunt Oil Co.’s Permian Basin oil wells in what would mark the biggest independent crude trader’s first major acquisition of U.S. production assets, according to people with knowledge of the matter. View the full article
Saudi Arabia’s Energy Minister said the OPEC+ alliance has a role in “taming and containing” inflationary pressures, just hours after Brent crude surged back above $75 a barrel. View the full article
Norway, Western Europe’s biggest oil producer, has more than 50% of its recoverable resources still in the ground, according to the Norwegian Petroleum Directorate. The Barents Sea probably holds most of that, yet there’s only one oil field and one gas field currently producing. View the full article
U.S. manufacturers and other large energy users are starting to lock in natural gas and power costs for at least three years or longer to buffer against price surges this winter, a practice that went out of vogue with the shale boom. 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
Following the dramatic recovery in U.S. steel production last year - a more than 18% year-on-year increase - the market is increasingly losing momentum. View the full article
Shape the future of energy at the 24th World Petroleum Congress 2023 Technical Conference. Abstracts will be considered if submitted before Thursday, July 7. View the full article
Chesapeake Energy Corp. said its assets in the Eagle Ford Shale have drawn a “tremendous amount of interest” as the U.S. company pursues a sale in order to become a pure-play natural gas producer. View the full article
The surprise move by OPEC+ to maintain oil supply restrictions through April, coupled with Saudi Arabia’s decision to extend voluntary curbs, has stunned the global energy market. Prices surged again on Friday, with West Texas Intermediate topping $65 a barrel, and Brent climbing above $68. View the full article
BJ Energy Solutions' first 40,000 Horsepower (HHP) TITAN fleet began a phased deployment in the Haynesville on Jan. 5, becoming fully operational by Jan. 31. View the full article
Stockpiles in Cushing, Oklahoma, the delivery point for West Texas Intermediate oil futures fell nearly 4 million barrels in the last two weeks, bringing inventories to the lowest since March of 2020 when the pandemic forced the country into lockdown. View the full article
Damage to the Port Fourchon, which services about 90% of output from U.S. Gulf deepwater oil and natural gas wells, is extensive and widespread, Chett Chiasson, executive director of the Greater Lafourche Port Commission said in an NPR interview Tuesday. 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
Amid the rusted remnants of Venezuela’s once-mighty oil industry, a motley crew of obscure drillers has achieved a feat few thought possible: It’s more than doubled the country’s crude production in the space of a year. View the full article
South Sudan is taking steps to take over the operations of international oil companies in the country to increase its share of revenue, even as production declines, according to a government official. View the full article
Shell Plc has decided to proceed with building Europe’s largest plant producing hydrogen from renewable power as oil majors bet the fuel could be key to cutting carbon emissions. View the full article
Uganda said it expects all potential lenders for the country’s planned $4 billion crude export pipeline to make their commitments by the end of November, smoothing the way to a targeted production start-up in early 2025. View the full article
The supply cuts out of Northern Alberta, following a surprise OPEC+ decision to not increase output next month, could add more support to the recent rally in crude prices. OPEC+ had been debating whether to restore as much as 1.5 million barrels a day of output in April but decided to wait. View the full article
Sulzer has broken ground on a new service center in Denmark that will provide its full range of product sales and maintenance services throughout the region, all from under one roof. View the full article
Reliance Industries Ltd., which operates the world’s largest crude oil refining complex, plans to invest 750 billion rupees ($10.1 billion) in clean energy over three years, paving way for a crucial transformation as investors, consumers and governments world over seek sustainable growth. View the full article
The depreciation and uplift rules in the special tax for petroleum will be replaced by immediate expense recognition of investments, or cash flow tax, from 2022, Finance Minister Jan Tore Sanner told reporters in a snap press conference in Oslo. View the full article
RRC has managed to exceed the Texas Legislature’s goals for inspections despite the global pandemic that impacted the agency’s operations and its regulated community. View the full article
Technip Energies has been awarded a contract by the Abu Dhabi National Oil Company (ADNOC) to update the FEED for the Ghasha mega project including accelerating the integration of carbon capture into the development. View the full article
Shell Plc is in talks to sell its fuel stations in Russia as it withdraws from the country in response to the invasion of Ukraine. 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.