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The U.S. is likely to ask OPEC member states to pump more crude to help ease a surge in energy prices, according to oil historian Daniel Yergin. View the full article
Maersk Drilling extended a drilling agreement with Aker BP ASA in a $1 billion five-year contract, securing a major revenue source. View the full article
President Joe Biden faces growing pressure from fellow Democrats to address rising gasoline prices by taking steps that include a possible ban on oil exports and the release of crude from the nation’s strategic reserves. View the full article
The world’s biggest oilfield-services provider said its suspension of future investment in Russia, a market that has represented about 5% of its total sales, means it can shift its own spending to other parts of the world. View the full article
Strohm has supplied Shell with a static Thermoplastic Composite (TCP) Riser to support operations at one of its Southern North Sea assets. View the full article
Abu Dhabi National Oil Company announced the award of five framework agreements totaling $1.83 billion for Directional Drilling and Logging While Drilling. View the full article
New laws imposing £5 billion of new taxes on the UK’s offshore oil and gas operators risk driving away investors and undermining the nation’s future energy supplies, the industry’s leading trade body has warned. View the full article
“These discoveries are part of an extensive well program in the Stabroek Block utilizing six drillships to test play extensions and new concepts, evaluate existing discoveries and complete development wells for the Liza Phase 2 and Payara projects,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. View the full article
An oil pipeline capable of hauling 180,000 barrels a day across Nigeria has ceased transporting crude since mid-June due to theft, according to a person familiar with the information. View the full article
House Democrats are investigating the role major oil companies and their trade groups are alleged to have played in misleading the public on the role of fossil fuels in causing global warming. View the full article
Oil’s latest upswing has come with a flurry of bullish price predictions from banks and traders, forecasts for surging demand this winter, and speculation that the industry isn’t investing enough to maintain supplies. View the full article
Oil output in the Permian Basin is projected to hit a record as the largest U.S. shale patch leads the recovery in domestic production from its Covid-19 induced slump. View the full article
Horisont Energi and Neptune Energy announced the signing of a Memorandum of Understanding to develop the Errai Carbon Capture and Storage project in Norway. View the full article
The American Petroleum Institute announced the promotion of Cole Ramsey to Vice President of Upstream Policy. In this role, Ramsey will lead the API Upstream team, manage API’s Upstream Committee and spearhead the coordination of Upstream oil and natural gas issues across the organization to help advance API’s mission. View the full article
OPEC+ is more than half a billion barrels behind on its pledge to supply world markets with oil, exacerbating concerns about the group’s ability to balance the global market. View the full article
A recently discovered natural gas field in the Black Sea is set to provide nearly a third of Turkey’s domestic needs when it reaches peak production capacity by 2027, Energy Minister Fatih Donmez said, unveiling details of his ambitious timeline to bring last year’s find on stream. View the full article
Canadian-based oil and gas exploration company, Eco Atlantic, through its subsidiary Azinam Limited, signed a farmout agreement for the acquisition of an additional 6.25% participating interest in Block 3B/4B offshore South Africa. View the full article
Chevron has signed an agreement with the government of Equatorial Guinea for Block EG09, located in the Douala basin on the border of Cameroon. View the full article
Russia will find new buyers for its oil, natural gas and coal both at home and abroad as some traditional customers reject its deliveries, said President Vladimir Putin. View the full article
Big swings in the price of oil derivatives signaled that U.S. crude supply is getting tighter, adding another dimension to the volatility that’s gripping energy markets. View the full article
The reimagined, field proven Simplified Frac Iron System transforms the typically disjointed process inherent with conventional ground iron. View the full article
Honorees received awards in 18 categories, encompassing the full breadth of the upstream industry. Today’s innovations, many of which would have seemed far-fetched a generation ago, are enabling operators to find and produce hydrocarbons more safely, economically, and efficiently. View the full article
Sarawak Shell Berhad, together with PETRONAS Carigali Sdn Bhd, has taken a final investment decision to develop the Rosmari-Marjoram gas project. Gas production is expected to start in 2026. View the full article
The Group of Seven urged OPEC to pump more oil, even as it made new pledges to try to fight climate change. View the full article
Oil rebounded after the U.S. Energy Department said it has no plans “at this time” to tap into the nation’s oil reserves to help quell rising fuel prices. 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.