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Pemex is said to be planning to trim its crude oil exports next year as it cranks up domestic fuelmaking to supply an economy bouncing back from the pandemic. View the full article
Neptune Energy announced it will spend more than $1 billion over the next five years securing energy supplies for the UK and speeding the transition to net zero. View the full article
TechnipFMC will continue to provide a wide range of engineering, studies and technical services to Neptune Energy, including installation work and operational support for Neptune’s development projects and producing fields. View the full article
Global completions specialist Tendeka has signed a new multi-year contract extension to exclusively deliver standardized sand-face completion equipment across all Equinor’s assets on the Norwegian Continental Shelf. View the full article
The deal consists of Shell’s interest in 13 onshore concessions and in Badr El-Din Petroleum Co. The U.K.’s Cairn, together with Cairo-based Cheiron Petroleum Corp., will buy the assets for $646 million and make additional payments of as much as $280 million by 2024, “contingent on the oil price and the results of further exploration." View the full article
Baker Hughes has been awarded a subsea oilfield equipment contract from Petrobras as part of the Marlim and Voador field revitalization plan in the Campos Basin, offshore Brazil. View the full article
Baker Hughes is taking a 15% stake in a startup that aims to produce natural gas from hydrogen and carbon dioxide, the oilfield service company’s latest move to invest technology designed to capture emissions. View the full article
Most crude processors that were hit by Hurricane Ida escaped major damage and are expected to be back online within three weeks, according to IHS Markit. View the full article
Special-purpose acquisition companies have targeted electric vehicles, fintech, healthcare and even space this year, largely avoiding oil -- until now. View the full article
The Biden administration has ordered an immediate halt to new federal support for coal plants and other carbon-intensive projects overseas, a major policy shift designed to fight climate change and accelerate renewable energy worldwide. View the full article
The number of original drilling permits issued by the Railroad Commission of Texas in April 2022 rose 29% to 946, compared to the year-ago figure of 732. View the full article
Nigeria’s state energy company won a court decision temporarily blocking Exxon Mobil Corp. from selling assets in the country to Seplat Energy Plc. View the full article
Democratic Senator Joe Manchin is enlisting the help of energy-industry executives to marshal Republican support for his plan to speed up the process of getting federal approvals for energy projects, according to people familiar with the matter. View the full article
Saudi Arabia’s push to restrain oil supply to buoy prices is spurring India to speed up plans to diversify its crude sources and pursue alternative energy, the chairman of one of the nation’s biggest refiners said. View the full article
Six senior executives of Citgo Petroleum Corp. who have been detained by the Venezuelan government since 2017 were transferred from prison to house arrest, according to a person familiar with the matter. View the full article
Highwood Equipment Technologies Inc. is transporting two of the world’s most advanced automated well service rigs to the Sultanate of Oman. View the full article
The U.S. Department of Energy has authorized Exxon Mobil Corp. to receive crude from the Strategic Petroleum Reserve to kickstart the production of fuels while most oil production in the Gulf of Mexico remains shut. View the full article
Oil slid by the most since August, falling from overbought territory amid concerns around global economic growth. View the full article
The budget bill for Iran’s next calendar year is based on an oil price of $60 a barrel, up from $40 this year, the semi-official Fars news agency reported. View the full article
The European Union’s executive arm is set to bolster renewables and energy savings goals as part of a 195 billion-euro ($205 billion) plan to end its dependency on Russian fossil fuels by 2027. View the full article
Petrobras has awarded Tenaris a four-year contract for the supply of a comprehensive package of products and services for its flagship Buzios deepwater project. View the full article
Shell Plc Chief Executive Officer Ben van Beurden will step down at the end of this year after almost 40 years at the company, to be replaced by the firm’s head of gas and renewables, Wael Sawan. View the full article
Heavy maintenance work on North Sea oil fields in the coming months is helping to erode the flow of crude to Asia from some suppliers in the Atlantic basin as a key price spread between the two regions balloons. View the full article
Exxon Mobil Corp. and Chevron Corp. added momentum to a nascent recovery in the U.S. oil industry as they reported bumper cash flow, a dramatic improvement after a torrid 2020. 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.
