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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
OPEC+ agreed to make a token oil supply cut for October, a surprise move that shows the alliance is seeking to stabilize global markets after a faltering economic backdrop triggered the longest price rout in two years. View the full article
China’s first auction of oil from its strategic reserves looks relatively paltry, but the possibility of further releases is still likely to exert a powerful influence on global crude prices. View the full article
Oil posted its biggest annual advance since 2009 as vaccination rollouts accelerated the reopening of economies, spurring global consumption while crude production returned at a more moderate pace. View the full article
Aquaterra Energy has signed a partnership with renewable hydrogen producer and supplier Lhyfe and offshore drilling contractor Borr Drilling to develop an innovative concept for offshore green hydrogen production in the North Sea. 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
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
The OSDU Data Platform is a cloud native, open-source technology which provides the energy industry a toolbox to address the undifferentiated capabilities needed to manage large, disconnected data sets. View the full article
The European Union is planning a hard deadline to end long-term contracts to import natural gas as part of its green shift, a setback for top supplier Russia. View the full article
The Biden administration’s plan to crack down on smog in the oil-rich Permian Basin threatens to curb crude production while gasoline prices are near record highs and energy scarcity grips the globe, the industry warned Thursday. 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
This Northern North Sea study, available for license, provides an in-depth review of potential CO2 storage plays in a region extending over CGG’s North Viking Graben 3D seismic dataset, including areas in both UK and Norwegian waters. View the full article
Global demand for oil products has seen strong recovery this year, however, depressed kerosene demand from the aviation sector is a major barrier to full recovery, says GlobalData, a leading data and analytics company. 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
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
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
Oil in New York held above $80 a barrel on expectations that a power crisis from Asia to Europe will continue to lift demand, prompting banks to boost their price forecasts. View the full article
B3 Insight announces the completion of the data disclosure pilot for the WaterSage Certification developed in partnership with B3’s Oilfield Water Stewardship Council (OWSC) members. 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
“We see our role as extremely limited,” Saudi Energy Minister Prince Abdulaziz bin Salman said during the CERAWeek India Energy Forum. View the full article
Gazprom PJSC has finished preparing the controversial Nord Stream 2 pipeline for natural gas exports to Europe, yet actual deliveries depend on how quickly regulators grant the project approval amid souring relations between Russia and Western nations. View the full article
Today Offshore Energies UK (OEUK) launches the search to find an outstanding industry leader who will champion the role of the integrating offshore energies sector in the transition to low carbon energy. View the full article
Russia’s Nord Stream 2 may need a few more months to clear remaining red tape before the controversial pipeline begins pumping natural gas to Germany to help ease Europe’s energy crunch. 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
Europe’s industrial sector has started to cut demand for natural gas, as record prices have made the fuel prohibitive for many consumers. 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.