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President Joe Biden should “back off” from domestic anti-oil policies if he wants to keep crude prices in check, according to one of America’s biggest shale drillers. 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
The U.S. shouldn’t ban the export of crude oil, a bipartisan group of House lawmakers said in a letter to President Joe Biden. 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
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
As President Biden prepares to meet with Saudi officials on Friday, the American Petroleum Institute released a video once again inviting the president to visit American energy sites and support American producers. 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
Petrofac has signed an agreement with carbon capture technology company, CO2 Capsol, which enables collaboration on carbon capture projects. 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
“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
U.S. crude output will grow at a more diminished pace than previously expected as shale producers grapple with higher production and labor costs amid rampant inflation. 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
National Oil Company Petrobras is focusing on output growth from pre-salt, following a trend of Brazilian oil independents raising output at fields the NOC already divested, Petroleum Economist reported. 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
Pemex is said to be planning to trim its crude oil exports next year as it cranks up domestic fuelmaking to supply an economy bouncing back from the pandemic. 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
Global drilling, engineering and technology provider KCA Deutag has been awarded contracts worth almost $185m from leading exploration and production companies across key markets in the Middle East region. View the full article
Tracerco has been commissioned to provide asset integrity data for an operator in the Gulf of Mexico seeking to extend the life of over 18 of their risers. 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
Offshore Energies UK thanked the Chancellor of the Exchequer for a “candid and constructive” meeting with the nation’s gas and oil producers - but warned that his new energy profit levy risks undermining attempts to attract capital investment to the UK. View the full article
Seeq Corporation, a provider of manufacturing and IIoT advanced analytics software, has reached an agreement with Saudi Aramco to further expand its operational analytics strategy as part of the company’s ongoing Digital Transformation program. View the full article
Cognite announced a collaboration with Equinor to expand data capabilities and support the company’s digital ambitions. View the full article
Saudi Aramco posted its highest profit since its record stock-market listing, after oil prices surged in the wake of Russia’s invasion of Ukraine. View the full article
Mewbourne Oil Co., the largest private oil producer in the U.S., said it will remain in the hands of its controlling family after the recent death of its eponymous founder. View the full article
The new partnership will integrate Trendsetter’s 15,0000psi Subsea Tree Injection Manifold and experienced personnel into Helix’s state-of-the-art fleet of well intervention vessels and equipment used to perform well services globally. 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.