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Chevron Corp. expects its $10 billion of investment on low carbon technologies through 2028 to offer double digit returns that are competitive with its main oil and gas business, Chief Executive Officer Mike Wirth said. View the full article
Iraq cut the price of its banner crude for U.S. customers sharply, a bold deviation from what Saudi Arabia chose to do with its own barrels just a few days ago. 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
Barclays Plc and Deutsche Bank AG are among 17 banks accused by climate law activists of “hypocrisy” over work related to a controversial North Sea oil field. View the full article
The world will have to wait until October for additional oil supplies as output losses from Hurricane Ida wipe out increases from OPEC+, the International Energy Agency said. View the full article
“This bill is fundamentally at odds with the president’s commitment to repeal fossil fuel subsidies,” said Erich Pica, president of Friends of the Earth. “This is a failure of climate leadership that will not soon be forgotten.” View the full article
Angola, which relies on oil for more than 90% of its exports, has been struggling to recover from the 2014-2016 collapse in prices. It has also not been able to boost investments, needed to increase production from its aging fields. View the full article
West Virginia Senator Joe Manchin stands alone among his fellow Democrats, recognizing the long-term economic damage Biden's $3.5T liberal wish list would inflict on America’s ability to meet its own energy needs, and compete in the global economic arena. View the full article
The latest data from the group indicate that the world will continue to face an oil supply deficit in the coming months even as its members revive idle production. View the full article
West Virginia Senator Joe Manchin stands alone among his fellow Democrats, recognizing the long-term economic damage Biden's $3.5T liberal wish list would inflict on America’s ability to meet its own energy needs, and compete in the global economic arena. View the full article
Abu Dhabi National Oil Co. is seeking to raise about $750 million from its drilling unit’s IPO, in what would rank among one of the largest share sales in the United Arab Emirates. View the full article
West Virginia Senator Joe Manchin (D), who commands a linchpin vote in the Senate, is at the center of a lobbying crossfire over President Joe Biden’s $3.5 trillion economic package, with the energy industry and environmental advocates both vying for his support. 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
Royal Dutch Shell is gearing up to restart oil pipelines off the U.S. Gulf Coast, potentially moving the region’s top driller one step closer to restoring some production shut by Hurricane Ida. View the full article
Phillips 66 may idle a New Orleans-area refinery that suffered so much damage during Hurricane Ida that repairs may be too costly, according to people familiar with the operation. View the full article
California is asking the federal government to declare an “electric reliability emergency” so the Golden State can lean more heavily on fossil fuels to avoid blackouts. View the full article
Libya’s oil production is in danger of slumping again, as a political power struggle threatens to end a period of relative stability. 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
Natural gas won’t count as clean energy under a House Democratic plan that would eventually rid the electric grid of carbon and is part of the $3.5 trillion tax-and-spending package moving through Congress. View the full article
Nigeria has sent a signal that the recovery in global oil demand still has some way to go, with volumes for next month’s loading struggling to find a home, even among its main customers. View the full article
Mexico President Andres Manuel Lopez Obrador is raising Pemex’s spending plan for next year to about $32 billion in a bid to boost flagging oil production. View the full article
Saudi Aramco is considering a bold move to open up one of the world’s largest unconventional gas fields to foreign investors, as it looks to fund a $110 billion project to help it diversify from oil sales, people familiar with the matter said. 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
“The commitments shown by Suncor Energy, Cenovus Energy, and Murphy Oil are extremely positive for the Newfoundland and Labrador offshore oil and gas industry," Noia CEO Charlene Johnson said in a statement. View the full article
Higher consumption across major economies is buoying oil prices that have rallied around 40% this year. Against this backdrop, the OPEC+ alliance decided to keep restoring crude supply earlier this month, citing tighter balances into year-end. 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.
