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China is set to extend its dominance in the global oil market as planned tax adjustments spark a chain reaction, prompting processors to boost crude imports and raise refinery run rates. View the full article
The Whale development, owned by Shell Offshore Inc. and Chevron U.S.A. Inc., is expected to reach peak production of approximately 100,000 barrels of oil equivalent per day and currently has an estimated, recoverable resource volume of 490 million barrels of oil equivalent. View the full article
ConocoPhillips’s $9.5 billion deal to buy shale assets from Royal Dutch Shell Plc will boost the amount of carbon the company pumps into the atmosphere. Yet the company says the pact will actually allow it to reach one of its climate goals faster. View the full article
Pioneer Natural Resources Co., the biggest oil producer in the Permian Basin, closed out almost all its hedges for this year, indicating a bullish outlook for crude prices. View the full article
Russia appears to have found a new means of getting its oil to market with Western sanctions looming for Moscow. View the full article
Ministers gathering in the Icelandic capital Reykjavik for a meeting of the Arctic Council last week weren’t due to discuss security. But the issue dominated conversations on the sidelines after Russia’s Foreign Affairs Minister Sergei Lavrov declared ahead of the summit that the Arctic “is our land and our waters.” View the full article
Neptune Energy announced the development of new “digital twins” of two platforms in the Dutch North Sea, which will accelerate work schedules, and reduce costs and environmental impacts by enabling engineers to work onshore. View the full article
The transactions are the latest evidence that major oil companies are coming out of the Covid-19 downturn with the intention of channeling extra investment into renewable energy. Eni, like its European peers, has pledged to achieve net-zero carbon emissions by the middle of this century. View the full article
The aim of the collaboration is to improve overall efficiency of the design and construction process, and of the asset lifecycle support services for projects in the offshore and marine industry. View the full article
With global costs of corrosion estimated at $2.5 trillion, the project aims to significantly enhance detection and monitoring methods of microbiologically influenced corrosion. View the full article
The Government of Newfoundland and Labrador is not allocating funding for the 2022 offshore seismic program and as such, the program will cease for this year. The Newfoundland and Labrador Oil and Gas Industries Association is disappointed with this decision and encourages the Provincial Government to reconsider for this year and to plan an offshore seismic program for 2023. View the full article
Energy Workforce & Technology Council CEO Leslie Beyer responded to House Republicans' six-part energy strategy, saying they applaud the House Energy, Climate, and Conservation task force for bringing the focus back to an 'emissions reduction' strategy. View the full article
China’s quick recovery from Covid-19 means that its demand for oil and gas has fully recovered from the pandemic-induced swoon of early 2020, and President Xi Jinping continues to make energy security a top priority. View the full article
There may never be a new refinery built in the US despite surging gasoline prices as policymakers move away from fossil fuels, according to Chevron Corp. View the full article
As oil prices continue to linger around the $100-plus/bbl price, mergers and acquisitions in the sector have been pushed to a three-year high, as well as private equity deals that may experience a record year. View the full article
AMLO has turned the Texas freeze crisis into a rallying cry for more energy independence, weaponizing it to advance a nationalist agenda that has implications beyond natural gas imports and threatens tens of billions of dollars of investments in renewable energy by U.S., Canadian and European energy companies. View the full article
An unprecedented fight over who should sit on the board of Exxon Mobil Corp. is turning into a referendum on Chief Executive Officer Darren Woods as a decades-long struggle by climate campaigners comes to a head. View the full article
Oil may surge to $90 a barrel if the approaching winter in the northern hemisphere proves colder than normal, said Jeff Currie, global head of commodities research at Goldman Sachs Group Inc. View the full article
The new grant supports the development of a new SMART Cable between New Caledonia and Vanuatu in the southwest Pacific Ocean, which will provide essential monitoring for tsunami and earthquake early warning. View the full article
Employment in the U.S. oilfield services, and equipment sector rose by an estimated 4,774 jobs to 628,793 in May, according to preliminary data from the Bureau of Labor Statistics and analysis by the Energy Workforce & Technology Council. View the full article
The infection rate of Covid-19 seems to be on decline and the trend has been consistent for the past few days in the United Kingdom so that the inhabitants can breathe a collective sigh of relief.
As of yesterday, the 7-day-average of infections and the 7-day-aveage of the deaths are 35929 and 1239 respectively.
The good news was overshadowed yesterday as the country moved past the grim milestone of over 100,000 deaths.
There is no doubt that the strict lockdown measures and maski
Oceaneering International and DDK Positioning Limited have entered into an agreement for the provision of GNSS augmentation service and all associated software and hardware supporting Oceaneering’s C-Nav Positioning Solutions group offerings. View the full article
As Iran preparing itself for making its presence in the crude oil market again, without being hampered by a myriad of sanctions, Israel dashed the hopes of the former by implying that would not be that easy.
Lt. Gen. Aviv Kohavi, the chief of Israeli defence force, did not mince his words, when he outlined his plans: he said he ordered the defence forces to make preparations for offensive action against Iran next year; he did not want the Biden administration to revive the 2015 nuclear deal
Six weeks after a federal judge ordered the Biden administration to resume selling oil and gas leases on federal land, there’s no sign it has and Interior Secretary Deb Haaland struggled Tuesday to explain why. View the full article
For a few fleeting hours Thursday, shares of Cenovus Energy Inc., one of Canada’s biggest oil producers, bounced back to highs not seen since its massive stock issuance to buy assets from ConocoPhillips four and a half years ago. 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.
