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A new kind of power plant that doesn’t add greenhouse gases to the atmosphere is being built in the U.S., potentially providing a way for utilities to keep burning natural gas without contributing to global warming. View the full article
Expected declines in demand for fossil fuels are compelling major oil and gas companies to actively restructure their businesses to add renewable power projects in their portfolio. This will help these companies reduce their carbon intensity and align with the changing energy mix in the long run, according to GlobalData. View the full article
Tracerco has been awarded three subsea inspection contracts to provide critical asset integrity data on pipelines of a major operator in the Gulf of Mexico. View the full article
Australia should include “caveats” in any net-zero greenhouse-gas emissions pledge to allow it to suspend climate-change commitments should regional areas of the economy be negatively impacted, according to a senior government lawmaker. View the full article
The oil producers’ group OPEC+ will likely take a cautious stance when deciding this coming week whether to go ahead with planned output increases after the emergence of a new coronavirus variant sent crude prices tumbling, according to Vitol Group. View the full article
Economy Minister Robert Habeck said Germany has already cut its reliance on Russian oil enough to make a full embargo “manageable,” potentially laying the groundwork for a continent-wide ban that would upend the global trade in petroleum. View the full article
Swagelok Company, a solutions provider of fluid system products, assemblies, and related services, is marking its 75th year in business by expanding its workforce on Cleveland’s west side through the addition of positions in its existing Strongsville facility and the purchase of an existing, 135,000-square-foot building in Valley City, Ohio. View the full article
The Energy Department announced Friday two solicitations for the Strategic Petroleum Reserve - 1.5 MMbbl for delivery in September and an additional 4.5 MMbbl for October, November, and December. The bids, which are due later this month, will be for the reserve’s Bayou Choctaw site, which previously had been off line for maintenance. View the full article
U.S. oil and gas trade groups, including the Independent Petroleum Association of America (IPAA) and the National Ocean Industries Association (NOIA) released statements after Senate Energy & Natural Resources Committee Chairman Joe Manchin (I-WV) and Ranking Member John Barrasso (R-WY) introduced the permitting reform package, the Energy Permitting Reform Act of 2024. View the full article
The Houston-based company continues to evaluate the nature and scope of the breach and has activated its cybersecurity response plan, it said in a statement Tuesday. It initially disclosed the attack last month and has notified law enforcement officials. View the full article
Enverus industry analysts have released a summary of 3Q24 upstream M&A activity, with the pace of deals significantly slowing in the third quarter of 2024 to just $12 billion in announced deals. View the full article
(Bloomberg) – TotalEnergies may greenlight a $750 million gas project in Nigeria next year, potentially signaling that the African nation’s efforts to revive investment in its hydrocarbon production are making progress. View the full article
Proponents of expanded renewable forms of energy (and opponents of fossil fuel energy, including petroleum) have taken this catastrophe as an opportunity to demonize natural gas, suggesting that falling natural gas supplies were the primary source of the loss of power supply. View the full article
AFG Holdings, Inc. announced that its Board of Directors has appointed Michael Walter as Chief Executive Officer, effective immediately. Mike succeeds Curtis Samford following his unexpected passing in February. View the full article
The transaction, which is expected to close in the third quarter of 2021, includes approximately 25,000 net acres in the Southern Delaware Basin in Texas with current production of approximately 10,000 barrels of oil equivalent per day from about 360 active wells. View the full article
The Oman-based land seismic acquisition company will use Stryde systems to obtain better high-definition images for oil and gas exploration across several projects. View the full article
Chevron Corp. committed to an “aspiration” of net zero emissions from its operations by 2050 as the company responds to rising investor and societal pressure to play a bigger role in a transition to a low-carbon future. View the full article
Americans will see prices at the pump fall “before long,” President Joe Biden said after tapping U.S. oil reserves to ease price pressures and risk a feud with OPEC. View the full article
Guyana, home to the world’s largest oil discovery of the past decade, is in discussions with Abu Dhabi to build a deepwater port to serve the rapid economic development along South America’s Caribbean coast. 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
Average hourly earnings for front-line oil and gas workers rose 0.5% from March to $44.67, according to a Labor Department report released Friday. Compared with a year ago, oil pay is up 3.2%. The strength in wages matched a national trend, pushing back bets for Federal Reserve rate cuts. View the full article
Saudi Aramco, which had previously been in talks to purchase a stake in Tellurian, is another potential partner, said Saul Kavonic, an energy analyst at MST Marquee in Sydney. Abu Dhabi National Oil Co., as well as Japanese buyers and U.S. infrastructure players, could also invest in Driftwood, he said. View the full article
Chevron Corporation started water injection operations at two of its offshore projects to boost oil and gas recovery at the company’s existing Jack/St. Malo and Tahiti facilities in the deepwater U.S. Gulf of Mexico. View the full article
Wood is leading a joint industry partnership to create industry guidelines for CO2 specifications to accelerate sustainable Carbon Capture, Utilization and Storage (CCUS) projects.
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(Bloomberg) – Suriname’s Foreign Affairs Minister Albert Ramdin said on Saturday his country’s emergence as a major oil producer could garner support for him to be voted in as the next Secretary General of the Organization of American States. 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.
