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Responding to the Queens’s speech, Offshore Energies UK said the proposed Energy Bill must create the predictability needed to attract the long-term investment crucial to boosting the nation’s energy security. View the full article
Suncor Energy Inc.’s chief executive officer stepped down on Friday after a series of fatalities at the company’s oil sands sites shook confidence in its management. View the full article
Physical oil markets are screaming for more supply. Prices are rising in the North Sea, the key region that’s central to the value of many oil transactions, while differentials for Nigerian grades have also made notable gains. View the full article
Royal Dutch Shell Plc shareholders approved the relocation of the company’s headquarters to London from The Netherlands, a move that will help it to boost returns while transitioning to clean energy. View the full article
Noble Corp. and Maersk Drilling offered to divest some of its offshore operation platforms to avoid an in-depth investigation from the U.K.’s antitrust regulator over the $2.6 billion deal, potentially smoothing the way for approval. View the full article
Shell Egypt and one of its affiliates have signed an agreement with a consortium made up of subsidiaries of Cheiron Petroleum Corporation and Cairn Energy PLC to acquire Shell’s upstream assets in Egypt’s Western Desert. View the full article
TechnipFMC will continue to provide a wide range of engineering, studies and technical services to Neptune Energy, including installation work and operational support for Neptune’s development projects and producing fields. View the full article
Baker Hughes is taking a 15% stake in a startup that aims to produce natural gas from hydrogen and carbon dioxide, the oilfield service company’s latest move to invest technology designed to capture emissions. View the full article
Most crude processors that were hit by Hurricane Ida escaped major damage and are expected to be back online within three weeks, according to IHS Markit. View the full article
The Biden administration has ordered an immediate halt to new federal support for coal plants and other carbon-intensive projects overseas, a major policy shift designed to fight climate change and accelerate renewable energy worldwide. View the full article
The number of original drilling permits issued by the Railroad Commission of Texas in April 2022 rose 29% to 946, compared to the year-ago figure of 732. View the full article
Democratic Senator Joe Manchin is enlisting the help of energy-industry executives to marshal Republican support for his plan to speed up the process of getting federal approvals for energy projects, according to people familiar with the matter. View the full article
The U.S. Department of Energy has authorized Exxon Mobil Corp. to receive crude from the Strategic Petroleum Reserve to kickstart the production of fuels while most oil production in the Gulf of Mexico remains shut. View the full article
TechnipFMC has been awarded a significant engineering, procurement, construction and installation contract by TotalEnergies for its Lapa North East field in the pre-salt Santos Basin offshore Brazil. View the full article
The move by senators Steve Daines of Montana and Cynthia Lummis of Wyoming underscores deep opposition from many Senate Republicans over the Biden administration’s plans for managing the nation’s federal lands and waters. View the full article
Stockpiles at the biggest U.S. crude depot are quickly approaching critically low levels. The last time that happened, crude cost more than $100 a barrel. View the full article
Futures in New York slipped below $65 a barrel on Tuesday in choppy trading after surging to the highest since 2018 on Monday. OECD forecasts for this year and next suggest some European economies won’t make up lost GDP in 2022. View the full article
Oil erased earlier losses with the market looking for its next direction from an OPEC+ meeting this week and the spread of the delta variant of Covid-19. View the full article
Royal Dutch Shell is hoping to restart its Ursa oil and gas platform in the U.S. Gulf of Mexico as early as the first half of November, according to a person familiar with the matter who asked not to be identified because the information isn’t public. View the full article
Weekly U.S. crude oil production declined for the first time in three months, signaling that soaring costs across the oil fields may be preventing drillers from expanding output. View the full article
Through the UK Government’s Floating Offshore Wind Manufacturing Investment Scheme, up to £160 million will be made available to scale-up the deployment of floating offshore wind and to invest in key areas where the UK has competitive advantage. View the full article
Saudi Arabia’s push to restrain oil supply to buoy prices is spurring India to speed up plans to diversify its crude sources and pursue alternative energy, the chairman of one of the nation’s biggest refiners said. View the full article
Europe’s heading into winter facing an unprecedented energy squeeze, and politicians are trying to figure out how to stop their citizens freezing. View the full article
West Texas Intermediate lost as much as 6.9% to slip under $97 a barrel as Wall Street traded lower and the dollar rose, making commodities priced in the currency more expensive. View the full article
Energy and marine consultants AqualisBraemar LOC has completed its assignment in connection with the decommissioning and removal campaign of the Sable Project off the coast of Nova Scotia, Canada. 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.