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The slowdown in production outside OPEC+, particularly in the U.S., is expected to narrow the global oil market surplus in 2025, though production will still outpace demand. View the full article
Over the long-term, the impacts of behavioral shifts due to COVID-19 are minor compared to “known” long-term shifts such as decreasing car ownership, growing fuel efficiencies and a trend towards electric vehicles, whose impact is estimated to be three-to-nine times higher than the pandemic’s by 2050. View the full article
The UK government said it has reached an agreement with the country’s oil and gas industry that will help safeguard jobs as the nation strives to achieve net-zero emissions of greenhouse gases. View the full article
Oil extended losses after an increase in U.S. crude inventories added to concerns around the prospect of more Iranian oil returning to the market under a potential revival of the nuclear deal. View the full article
Despite volatility in global oil markets, U.S. crude oil exports reached a record high in 2020, maintaining momentum in 2021 with crude oil exports reaching 3.00 million barrels per day (bpd). View the full article
ConocoPhillips agreed to acquire Royal Dutch Shell Plc’s Permian Basin assets for $9.5 billion in cash, accelerating the consolidation of the largest U.S. oil patch. 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
Electricity prices in New England jumped on Tuesday as a frigid start to the day spurred demand when the cost of natural gas used to fuel power plants soared. View the full article
As he opened the COP26 climate talks in November, Boris Johnson warned “it’s one minute to midnight” in the race to slash planet-heating carbon emissions. His government has since announced £37 billion of funding focused squarely on subsidizing the consumption of energy -- much of it fossil fuels. View the full article
Eni SpA is planning a second liquefied natural gas production vessel offshore Mozambique that could be built in less than four years to help Europe diversify supplies of the fuel, according to a company executive. View the full article
OPEC+’s decision to lower its oil-production cap may set the stage for higher prices that would enable U.S. explorers to expand drilling, according to shale entrepreneur Matt Gallagher. View the full article
The Railroad Commission of Texas (RCC) has launched State Tracking and Reporting (LoneSTAR), a project that further improves efficiencies at the agency to save time and resources for oil and gas operators as well as RRC staff. View the full article
Avance Gas holding Ltd., whose largest shareholder is Norwegian shipping billionaire John Fredriksen, said it has agreed to sell its entire fleet of very large gas carrying ships to BW LPG Ltd. View the full article
U.S. exports of diesel, mostly to Latin America, last week fell 518,000 barrels a day to 714,000 for the lowest level since September 2017, data from the Energy Information Administration show. View the full article
Energy Minister Anne-Marie Trevelyan said the UK could eventually follow in the footsteps of North Sea neighbor Denmark which will stop offering new oil and gas licenses and end production by 2050. View the full article
Oil plunged to the lowest in three weeks alongside a broader market decline with traders also concerned about growing supply from the U.S. and Iran. View the full article
The activity level on the Norwegian continental shelf has been high in the first six months of the year – despite the Covid situation. Eight discoveries have been made, production remains high, and many new development projects are on the drawing board. View the full article
Russia expects oil output next year to be back near its post-Soviet high as OPEC+ eases production curbs. View the full article
Qatar has ordered six liquefied natural gas ships from South Korea as it pushes ahead with a multi-billion dollar project to boost production of the fuel. View the full article
The U.S. became the world’s No. 1 exporter of liquefied natural gas for the first time ever last month, as deliveries surged to energy-starved Europe. View the full article
The first day of the Energy NL Annual Conference & Exhibition 2022 concluded after important dialogue about the role of the Newfoundland and Labrador energy mix in the energy evolution. View the full article
Wood has been awarded the Principal Designer and Pre-FEED scope for Salamander, the 100MW floating wind farm development located 35km off Peterhead in the East Coast of Scotland. View the full article
Neptune Energy and its partners announced an extension of higher gas production from the Duva field in Norway, supplying enough gas to heat a further 550,000 UK homes per day. View the full article
The Canadian oil sands represent nearly 40% of North America’s sub-$50 WTI breakeven undeveloped oil resource and offer a compelling opportunity for investors and producers to extend duration in E&P asset portfolios. View the full article
Canada’s new green technology fund is putting as much as $100 million into a carbon-capture firm that’s backed by Chevron Corp. to help it commercialize its technology. 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.