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Skyrocketing carbon prices and a “code red” warning about the threat posed by climate change are giving fresh momentum to a technology that captures and removes greenhouse gas emissions so they can be buried. View the full article
President Joe Biden is under intensifying pressure to keep a lid on rising gasoline and natural gas prices that threaten the economic recovery and Democrats’ political ambitions. View the full article
Oil crashed more than 10% in both London and New York as a new coronavirus strain sparked fears that renewed lockdowns will threaten the global recovery in demand. View the full article
Halliburton Co. said that sanctions imposed by the U.S., the EU and others require the company to wind down certain contracts in Russia by May 15. View the full article
The American Petroleum Institute and American Fuel & Petrochemical Manufacturers called the meeting “a constructive discussion.” While no concrete solutions emerged, both sides promised to keep talking and working together in good faith. View the full article
Indian Oil Corp., the country’s biggest refiner, said it plans to spend 2 trillion rupees ($25 billion) to achieve carbon neutrality in its operations by 2046. View the full article
The latest analysis from Westwood Global Energy Group reveals that despite favourable oil prices in 2022, high impact exploration drilling in 2023 declined by 21%, due to energy transition strategies, industry consolidation, rising well costs and reduced activity in former hotspots. View the full article
SK E&S, a South Korean energy producer with operations in the U.S., has entered into a significant multimillion-dollar agreement to support energy research at the Hamm Institute for American Energy at Oklahoma State University. View the full article
bp has entered into an agreement with Perenco to divest its Immortelle, Flamboyant, Amherstia and Cashima offshore gas fields and associated production facilities, including undeveloped resources from the Parang field. The assets, except for Parang, are mature fields that have been in production from as early as 1993 and currently produce 30,000 boed. View the full article
MOL Group signed a Memorandum of Understanding with Turkish Petroleum Corporation (TPAO) in Istanbul to form a strategic partnership for hydrocarbon exploration and production. View the full article
Russia’s Gazprom PJSC is preparing for a scenario where natural gas flows via Ukraine halt entirely next year. View the full article
The Senate ultimately is still expected to confirm Haaland, but the slim control Democrats have means Haaland needs every vote she can get. Joe Manchin, the West Virginia Democrat who is chairman of the committee considering her nomination, threw into doubt the fate of another Biden nominee last week. View the full article
Iraq’s oil ministry took the unusual step of saying it’s in talks with U.S. companies about the possibility of them buying Exxon’s 32.7% stake in the field in southern Iraq, near the city of Basra. View the full article
The Bureau of Ocean Energy Management will publish a Request for Interest in the Federal Register on Friday, June 11 to assess interest in potential offshore wind development in the Gulf of Mexico's outer continental shelf. View the full article
Enbridge Inc.’s Line 3 oil pipeline from Alberta to Wisconsin could start operating as soon as Sept. 15, bringing relief to Canadian oil sands producers who have had limited access to export pipelines. View the full article
Gazprom PJSC increased its 2021 price guidance for natural gas exports, while signaling caution on volumes it could ship, as Europe’s energy crisis worsens. View the full article
The Biden administration on Friday issued a long-awaited blueprint for overhauling oil and gas development on federal lands that includes boosting royalty rates despite high gasoline prices that have spurred demands to accelerate domestic production. View the full article
Oil dropped at the start of the week on concerns that a spreading Covid-19 outbreak in China will impact consumption even further. View the full article
Research shows companies with a higher percentage of women in executive positions have a 34% higher total return to shareholders than those that do not and companies with ethnic diversity on their executive team are 25% more likely to have above average profitability and 27% likelihood of outperforming peers in value creation. 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 Permian Strategic Partnership (PSP) is welcoming Energy Transfer and Phillips 66 as its newest members, expanding to 31 members. In the five years since its founding, the PSP has nearly doubled in size and exponentially expanded its impact in Southeast New Mexico and West Texas. View the full article
The campaign was conducted by the Petrodec HAEVA rig and has delivered sustained production gains of around +5 MMcfd, in line with expectations. The planned scope was completed ahead of schedule and within budget, confirming the technical and commercial success of the project. View the full article
The two-month survey will be conducted early 2025, utilizing capacity from Shearwater’s high-end fleet, supported by the company’s state-of-the-art technology offering and extensive operational experience. View the full article
Perenco Colombia successfully completed drilling of three new development wells on the Paravare and Chaparrito fields at Casanare, onshore Colombia, identifying large oil discoveries. View the full article
(Bloomberg) – French energy major TotalEnergies SE may greenlight a $750 million gas project in Nigeria next year, potentially signaling that the African nation’s efforts to revive investment in its hydrocarbon production are making progress. 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.
