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Chief executives of some of the largest U.S. oil companies promised to collaborate with the Biden administration in its campaign against climate change during a meeting Monday with White House National Climate Adviser Gina McCarthy. View the full article
Traders are optimistic about the prospects for a bullish summer as consumption snaps back with travel re-opening. As a result, much of Wall Street is calling for higher prices in the coming months, with Goldman Sachs Group Inc. talking up the prospects of $80 a barrel. View the full article
Petrofac has collaborated with asset management specialist James Fisher Asset Information Services to eliminate the need for offshore surveys ahead of modification scopes, reducing time and cost. View the full article
With Canadians set to vote Monday in a highly competitive election, the outlook for the two largest sectors in country’s stock index hangs in the balance. View the full article
Halliburton Company released DS365.ai cloud service to help customers accelerate their digital transformation with intelligent automation. View the full article
OPEC and its allies are expected to revive more oil supplies when they meet next week, underscoring the group’s optimism in the outlook for global demand. View the full article
The Group of Seven urged OPEC to pump more oil, even as it made new pledges to try to fight climate change. View the full article
As the U.S. experiences two straight quarters of negative GDP growth, which meets the common definition of recession, Railroad Commission of Texas Chairman Wayne Christian said high taxes, unnecessary regulations, and irresponsible deficit spending is what caused the mess we are in. View the full article
The project is expected to achieve a peak production of approximately 18,100 boed day in 2026, and the oil property is light crude. It is the first oil field in the South China Sea supplied with onshore power. View the full article
The recent Central Atlantic wind lease sale has generated nearly $93 million for two lease blocks. This sale, covering areas off Maryland, Delaware, and Virginia, demonstrates significant growth in the U.S. offshore wind sector. View the full article
Oilfield-service costs for U.S. shale drillers are expected to rebound in 2025, clawing back some of this year’s drop, as explorers expand the hunt for natural gas and extend sideways wells, according to industry consultant Enverus. View the full article
(Bloomberg) — Nigeria expects a 30% increase in crude and condensate output as authorities strengthen security around the nation’s oil infrastructure and incentives in the sector attract investment, even though the gain could cross its OPEC+ commitment to limit production. View the full article
Saudi Aramco has hired Moelis and Co. to devise a strategy for selling stakes in some subsidiaries, according to people familiar with the matter. The plan includes raising around $10 billion from a stake sale in Aramco’s pipelines. View the full article
The Enhanced Kick Detection system eliminates the external effects of rig and slip-joint motion, to give a highly accurate return volume flow measurement enabling rapid detection of flow anomalies, resulting in reduced time spent on flow-checking. View the full article
“The balance of risks and rewards associated with our onshore portfolio is no longer compatible with our strategic ambitions,” Shell CEO Ben van Beurden told investors at Shell’s annual general meeting on Tuesday. View the full article
Exxon Mobil Corp. recruited a company outsider for the first time to join the chief executive officer’s inner circle of managers, a move that comes just weeks after the oil giant suffered a stunning setback at the hands of a tiny activist investor. View the full article
Equinor and its partners have received permission to increase gas exports from two fields on the Norwegian continental shelf to supply the tight European market. View the full article
OPEC and its allies will stick to their slow pace of oil-production increases, disregarding U.S. President Joe Biden’s demand to go faster and increasing the odds that oil consuming nations will tap strategic reserves to lower consumer prices. View the full article
Denmark’s government wants to drop fossil fuels in domestic air travel by 2030 in its most recent push to meet its climate targets. View the full article
Oil & Natural Gas Corp.’s profit rose 32% in the fourth quarter but missed estimates as an increase in government levies ate into the gains from soaring oil prices after Russia’s invasion of Ukraine. View the full article
Shale explorers are searching for oil at rates not seen since the early weeks of the pandemic as high crude prices incentivize drilling. View the full article
The American Petroleum Institute President and CEO Mike Sommers and American Fuel and Petrochemical Manufacturers President and CEO Chet Thompson sent a letter to U.S. Secretary of Energy Jennifer Granholm raising significant concerns that the administration could pursue a ban or limits on refined petroleum products. View the full article
The merger of TGS and PGS forms a powerhouse in the energy sector, enhancing its capabilities to support energy exploration and production on a global scale. This integration will enable the company to leverage a wider pool of technological resources and expertise, significantly boosting its operational efficiency, innovation and customer engagement strategies. View the full article
The Department of the Interior has issued final guidance for states on applying for the first $775 million in grant funding available this year to address orphaned oil and gas wells under President Biden’s Bipartisan Infrastructure Law. View the full article
Kazakhstan is in talks with China about increasing gas exports and is even considering building an additional pipeline to boost flows, underscoring the growing significance of its role in the region’s fuel market. 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.
