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The agreement allows the consortium to acquire, promote and license multi-client seismic programs, including new 3D acquisition and legacy data reprocessing, in the shallow water acreage offshore Suriname. View the full article
Russia’s oil revenues are up 50% this year even as trade restrictions following the invasion of Ukraine spurred many refiners to shun its supplies, the International Energy Agency 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
Russia’s seaborne crude exports are flowing unabated, despite European Union regulations that prohibit dealings with the country’s state energy companies. View the full article
Schlumberger announced that it has been selected by Wintershall Dea as its preferred partner on the acceleration of its Terra Nova subsurface transformation program. View the full article
Exxon Mobil was suspended from the Climate Leadership Council, a pro-carbon tax group backed by conservation groups and some of the world’s biggest corporations. The move comes just weeks after an Exxon lobbyist was secretly recorded by Greenpeace saying that the oil giant only voiced support for a carbon tax because it knew such a policy would be almost impossible to implement. 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
European gas prices surged more than 20% as Russia’s Gazprom PJSC confirmed that it halted gas flows to Bulgaria and Poland, saying it will keep supplies turned off until the two countries agree to Moscow’s demand for rubles -- a dramatic escalation with Europe as its invasion of Ukraine presses forward. View the full article
Environmental groups sued the Biden administration to block its revival of plans to allow new oil drilling on public land in western states. View the full article
An oil-data startup backed by Palantir Technologies Inc. co-founder Joe Lonsdale plans to help energy explorers, bankers and investors figure out how much crude and natural gas reserves trapped underground are really worth. 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
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
Petrofac has signed an agreement with carbon capture technology company, CO2 Capsol, which enables collaboration on carbon capture projects. View the full article
“There are several immediate and reasonable actions your Administration can take to increase natural gas supplies and ease prices – without sacrificing safety or environmental stewardship,” the Senators wrote in a letter to President Joe Biden. View the full article
The U.S. Energy Information Administration projects that, absent significant changes in policy or technology, world energy consumption will grow by nearly 50% between 2020 and 2050. View the full article
BlackRock Inc. Chief Executive Officer Larry Fink said emerging economies need about $1 trillion a year over the next three decades for the world to achieve carbon neutrality. View the full article
Offshore Energies UK greeted the announcement of Liz Truss as the UK’s new Conservative Party leader as a fresh chance to renew the nation’s approach to energy security and accelerate the transition to cleaner energies with careful long-term investment in its home-grown oil and gas resources. View the full article
The UK’s new government must double or even triple the rate of offshore wind turbine installations to meet its target of a four-fold increase in offshore renewable energy by 2030, according to a new report. View the full article
Oil prices pose a high risk to the global economic recovery, with signs that fuel costs are starting to “take their toll” on demand growth, the International Energy Agency said. View the full article
Cairn Energy Plc shareholders can expect a payback of as much as $700 million once the UK oil producer settles a long-running tax dispute with India. View the full article
ADNOC Drilling will acquire eight FlexRig land rigs from HandP for $86.5 million, after which HandP will make a $100 million cornerstone investment into ADNOC Drilling’s recently announced initial public offering. 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
Royal Dutch Shell Plc has been ordered by a South African court to temporarily halt an offshore seismic survey after local communities took legal action to block the project. View the full article
The European Court of Human Rights is asking Norway to respond to charges by activists that allowing new oil and gas drilling in the Arctic during an environmental crisis may breach fundamental freedoms. View the full article
Railroad Commission of Texas Chairman Wayne Christian applauds the Texas oil and gas industry following the Texas Comptroller of Public Accounts’ announcement of continuous record-breaking tax revenues from the industry. 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.