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European refiners continue to lap up North Sea crude to seek replacements for Russian oil in response to the war in Ukraine. 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
Contrary to the tone of some news coverage, we see 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, not good news, for the prospects of energy legislation before the midterm elections. View the full article
The first Annual General Meeting of Energy NL occurred virtually on Tuesday and included reports from the CEO and treasurer, remarks by the incoming and outgoing chairs, and results of the board of director election process. View the full article
Big Oil is walking away from tens of billions of dollars of Russian assets, but $100 crude is easing the sting. View the full article
Guyana, home to the world’s largest oil discovery of the past decade, is in discussions with Abu Dhabi to build a deepwater port to serve the rapid economic development along South America’s Caribbean coast. View the full article
Economy Minister Robert Habeck said Germany has already cut its reliance on Russian oil enough to make a full embargo “manageable,” potentially laying the groundwork for a continent-wide ban that would upend the global trade in petroleum. View the full article
Seaborne exports of Russia’s crude rebounded in the seven days to April 22. One-fifth of the volume shipped from ports on the Black Sea, Baltic and Arctic coasts is on tankers showing no final destination, with most expected to end up in Asia. 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
Halliburton, which controls more fracing capacity than any other company, predicted North American explorers will boost spending by 35% this year, up from a pre-war forecast of 25%. 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
More than 100 people died in an explosion at an illegal oil refinery in southeastern Nigeria over the weekend, demonstrating the dangers associated with an illicit industry that thrives in the crude-producing region. View the full article
Libya’s oil ministry said fields shut down by protesters may reopen within days, potentially allowing the OPEC member to get back to full production. 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
The global data business in the oil & gas market is projected to rise at a compound annual growth rate of 16.5% for the next decade, rising from a valuation of $31.6 billion in 2022 to $145.9 billion by 2032. View the full article
Discovered via a trio of wells drilled by the Valaris DS-12 drillship in 2019, the high-quality gas at BirAllah represents the largest deep water gas discovery of 2019 and the third largest overall. View the full article
MCE Deepwater Development returned to its in-person conference in London this month. By all accounts, it exceeded its goal of bringing together technical experts from across the global industry. View the full article
Nigeria expects to raise its daily crude production closer to its OPEC quota in about two weeks as authorities re-open wells that had to be shut to keep criminals at bay. View the full article
KCA Deutag, a global drilling, engineering and technology provider, secured contract extensions and options totaling over $170 million, with the majority focused on extensions with existing clients across core markets in the Middle East. View the full article
The National Ocean Industries Association announced that TechnipFMC and Aker Solutions are the winners of the 2022 NOIA Safety in Seas Awards competition. View the full article
Russia’s second-largest oil producer Lukoil PJSC said Chief Executive Officer Vagit Alekperov will resign, in the latest sign of growing pressure on the nation’s energy industry since the invasion of Ukraine. View the full article
Valero Energy Corp.’s trading division was the largest buyer of crude oil in the Biden administration’s second sale of emergency stocks that were part of the White House’s efforts to combat surging energy prices after Russia invaded Ukraine. View the full article
Liberty Oilfield Services Inc. posted its best quarterly sales since going public more than four years ago as the global energy crisis spurs a boom in demand for fracing. View the full article
Mexico’s state-owned oil giant Petroleos Mexicanos will resume paying its debt maturities this year, ending a government policy of covering its amortizations to help the beleaguered driller shore up its finances, according to a Finance Ministry official. View the full article
North Sea Investment Forum announced that Greg Hands MP, UK minister of state for business, energy, and clean growth, will deliver the ministerial keynote to kick off the North Sea Investment Forum in London on June 23. 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.
