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National Ocean Industries Association President Erik Milito said Interior has had 16 months to fulfill its statutory obligation to develop and maintain an offshore oil and gas leasing program and it has failed. View the full article
Around half of Gazprom PJSC’s foreign clients have complied with a request from Russia’s president to open accounts with Gazprombank JSC, according to Deputy Prime Minister Alexander Novak. View the full article
The recovery of the shale patch workforce is still years in the making despite the frothy profits that rallying crude prices are generating for U.S. oil companies and their contractors. View the full article
The Biden administration plans to ease sanctions on Venezuelan oil in a bid to bring more of the country’s crude to Europe. View the full article
The war in Ukraine has prompted Europe to reshape its energy policy, and once-snubbed U.S. LNG is now a key part of a European Union’s strategy to wean itself off Russian gas expected to be outlined this week. View the full article
Commenting on the vote on the Queen’s Speech, Offshore Energies UK External Relations Director Jenny Stanning said it is essential to attract investment into North Sea projects to support the UK's energy security and the energy transition. View the full article
Canada’s oil production could increase by 900,000 barrels a day to make up for supply losses from Russia’s war in Ukraine, according to the premier of the province of Alberta. View the full article
At the start of Q1 2022, global oil and gas industry contract activity was stifled due to the Russia-Ukraine conflict. However, in the second half of the quarter a minor increase in the number of contracts was reported. View the full article
Abu Dhabi National Oil Co. plans to build a new liquefied natural gas plant as the world’s producers race to expand their exports amid surging demand. View the full article
Aimed at scaling up private sector investment in African oil and gas projects, the bank will provide critical financing for new and existing oil and gas projects, as well as energy developments across the entire value chain. View the full article
Hungary told its European Union counterparts that it will cost at least 770 million euros ($810 million) to revamp its oil industry as they wrangle over potential sanctions that would target Russian supplies. View the full article
The smallest oil producer in the Persian Gulf is turning to natural gas imports to meet rising energy demand as production from its own deposits slips. View the full article
Expensive offshore exploration setbacks for international oil majors including Shell Plc and Exxon Mobil Corp. are throwing cold water on their plans to turn Brazil into a profit center. View the full article
Global digital services leader Asset Information Services (AIS), a James Fisher company, announced its business development and account management expansion plans on Monday, which includes new hires in key global regions for its rapidly growing customer base. View the full article
The Arab Petroleum Investments Corp. has appointed Khalid bin Ali Al-Ruwaigh as its new CEO, taking over from Dr. Ahmed Ali Attiga who led the organization over the past five years, during which APICORP successfully navigated an ever-changing business and energy landscape. View the full article
African nations should resist pressure from “powerful interests” to hastily abandon fossil fuels to avoid hurting their economies, Angola’s President Joao Lourenco said. View the full article
The U.K. got less than a quarter of its oil supplies from its own fields last year, compared with about 9% from Russia. And domestic output is dropping fast — down by 10% in the first quarter from a year earlier after companies cut investment or spent their cash elsewhere. 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
Oil climbed, bookending another tumultuous week of trading, as investors weighed the prospect of a European Union ban on Russian crude and uncertainty over China’s virus resurgence. View the full article
Iran has capacity to double oil exports if there’s sufficient demand, a top official said, even as a deal on the country’s nuclear program that could pave the way for the lifting of sanctions remain elusive. View the full article
TotalEnergies and Ørsted have joined forces to jointly submit bids for the two Dutch offshore wind tenders Holland Coast West with the aim to achieve net positive impact on biodiversity and the Dutch energy system. View the full article
In a weekly online briefing on Thursday, May 12, DTEK CEO Maxim Timchenko discussed Ukraine’s energy security. He provided an update on energy sector operations and restoration of electricity supply amid the Russian invasion. View the full article
The North Sea Transition Authority, formerly known as the UK Oil & Gas Authority, published its Corporate Plan outlining how it will support the industry for the next five years. View the full article
The OSDU Data Platform is a cloud native, open-source technology which provides the energy industry a toolbox to address the undifferentiated capabilities needed to manage large, disconnected data sets. View the full article
Located 20 nautical miles (37 km) from the coast, the lease covers a 120 square nautical miles area (222 sq km) that will generate a capacity of more than 1 GW, enough to provide power to more than 300,000 homes. 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.
