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Russia is ready to deliver all of the natural gas that Europe needs, said President Vladimir Putin, blaming the continent’s current energy crisis on flawed policies rather than a lack of supply. View the full article
Russia’s oil revenues are up 50% this year even as trade restrictions following the invasion of Ukraine spurred many refiners to shun its supplies, the International Energy Agency said. View the full article
The study found that enabling open markets increased oil and natural gas development in America, which, over the six-year period, reduced global oil prices by an average of $1.93 per barrel. View the full article
Railroad Commission of Texas Chairman Wayne Christian applauds the Texas oil and gas industry following the Texas Comptroller of Public Accounts’ announcement of continuous record-breaking tax revenues from the industry. 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
The agreement allows the consortium to acquire, promote and license multi-client seismic programs, including new 3D acquisition and legacy data reprocessing, in the shallow water acreage offshore Suriname. View the full article
Royal Dutch Shell Plc has been ordered by a South African court to temporarily halt an offshore seismic survey after local communities took legal action to block the project. View the full article
There’s “no immediate concern” about fuel supplies running short for consumers in the UK, Conservative MP Alok Sharma said Sunday. View the full article
Mexico cut its forecast for oil production at Pemex next year and reduced its tax burden after a string of accidents at offshore platforms signaled the highly indebted state company is struggling. View the full article
Devon agreed to acquire the leasehold interest and related assets of RimRock Oil and Gas, a Warburg Pincus portfolio company focused in the Williston Basin, for total cash consideration of $865 million. View the full article
The IEA cut forecasts for world oil consumption in 2021 by 200,000 barrels a day as the pandemic continues to limit travel and economic activity. It boosted projections for supplies outside the OPEC cartel by 400,000 barrels a day as a price recovery spurs investment. View the full article
The U.S. Energy Information Administration projects that, absent significant changes in policy or technology, world energy consumption will grow by nearly 50% between 2020 and 2050. View the full article
Amplify Energy Corp. was charged with criminal negligence in California’s worst oil spill in almost three decades, in which an estimated 25,000 gallons (94,635 liters) of crude oil leaked from a submerged pipeline off the coast of San Diego. View the full article
Bottlenecks in the global supply chain threaten to drive up renewable-power costs, reversing a decade-long trend that made wind and solar mainstream. View the full article
W&T Offshore Inc. has hired Skadden, Arps, Slate, Meagher & Flom to conduct an internal investigation on management’s close relationship with information-technology vendor AAIT. View the full article
Lowering Mexico's tax demands on Pemex, its biggest taxpayer, could help the oil giant reorder its finances as it struggles with a $110.3 billion debt load, sinking production, and some of the highest tax obligations of any oil company in the world. 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
Cairn Energy Plc shareholders can expect a payback of as much as $700 million once the UK oil producer settles a long-running tax dispute with India. View the full article
Oil climbed above $70 a barrel in New York after three weeks of gains as investors tracked the slow restoration of supplies in the Gulf of Mexico and the outlook for demand and inventories over the fourth quarter. View the full article
Oil rose in tandem with equity markets as investors weighed the rapid spread of omicron against signs it may be milder than previous variants. View the full article
As he opened the COP26 climate talks in November, Boris Johnson warned “it’s one minute to midnight” in the race to slash planet-heating carbon emissions. His government has since announced £37 billion of funding focused squarely on subsidizing the consumption of energy -- much of it fossil fuels. View the full article
An oil-data startup backed by Palantir Technologies Inc. co-founder Joe Lonsdale plans to help energy explorers, bankers and investors figure out how much crude and natural gas reserves trapped underground are really worth. View the full article
Oil prices pose a high risk to the global economic recovery, with signs that fuel costs are starting to “take their toll” on demand growth, the International Energy Agency said. View the full article
Norway’s opposition Labor Party is on course to oust the Conservative-led government after two consecutive terms in an election dominated by disputes over the Nordic economy’s dependence on fossil fuel. View the full article
Petrofac has signed an agreement with carbon capture technology company, CO2 Capsol, which enables collaboration on carbon capture projects. 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.