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Libyan Prime Minister Abdul Hamid Dbeibah said the country’s crude exports are on track for full resumption after months of outages as he justified his replacement of the state-run oil company’s leadership. View the full article
The nation was pumping about 1 MMbpd before the halt order, with the vast majority of that coming from the east. Daily production in the past week plunged to about 450,000 bpd. View the full article
Libya may introduce contracts with private oil companies that would give bonuses to those that meet targets and penalize those that don’t, as the OPEC member tries to raise output to 1.4 million barrels a day by mid-2022. View the full article
Liberty Oilfield Services Inc. posted its best quarterly sales since going public more than four years ago as the global energy crisis spurs a boom in demand for fracing. View the full article
Liberty Lift announced the asset acquisition of Corral Oil Field Services LLC in Andrews, Texas. Corral is a family-owned and -operated artificial lift company specializing in the service, repair, and sale of pumping units and related artificial lift equipment in the Permian basin. View the full article
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
North America’s biggest petroleum pipeline is in a race against time to overcome a cyberattack that’s frozen fuel shipments before regional reserves of gasoline, diesel and jet fuel run dry. View the full article
The biggest provider of oil and gas rigs to the U.S. shale patch is pushing a new pricing model as speedier drilling cuts into contractors’ revenue. View the full article
Laredo Petroleum announced a purchase and sale agreement to acquire the assets of Sabalo Energy, a portfolio company of EnCap Investments, and a non-operating partner for about $715 million, and the sale of 37.5% of Laredo's operated PDP reserves in its legacy leasehold in Reagan and Glasscock counties to an affiliate of Sixth Street Partners for proceeds of $405 million. View the full article
Lagoon Water Midstream has closed on the acquisition of Double Drop Resources, a water management company located in the Permian basin. View the full article
The Nordic country’s oil and gas industry has been keen for new acreage to offset an expected decline in production toward the middle of the decade. The Barents is estimated to hold more than 60% of the undiscovered resources off Norway, according to the nation’s petroleum directorate. View the full article
Electricity prices in New England jumped on Tuesday as a frigid start to the day spurred demand when the cost of natural gas used to fuel power plants soared. View the full article
The borrowing plan underscores how badly Persian Gulf countries were impacted by the drop in crude prices last year as the coronavirus pandemic spread and energy demand plunged. View the full article
Kuwait’s candidate to take over as OPEC’s top diplomat has widespread support from the group’s members, delegates said. View the full article
Kuwait has opened its first permanent facility to import liquefied natural gas, as oil-rich Persian Gulf states accelerate efforts to wean their power plants off crude and use cleaner forms of energy. View the full article
The Al-Nukhida field, east of the Gulf state’s Failaka Island, has initial estimated reserves of about 2.1 Bbbl of light oil and 5.1 Tcfg, or 3.2 Bboe, in the Manageesh strata, state-owned KOC said on Sunday. View the full article
The first phase of the development, with five wells in total, is expected to deliver around 100 MMboe with upside from subsequent phases. The Winterfell unit consists of Green Canyon blocks 899, 900, 943, 944, 987 and 988 with follow-on opportunities in adjacent blocks where Kosmos also has an interest. View the full article
Schlumberger announced an award to OneSubsea and its alliance partner, Subsea 7, by Kosmos Energy Gulf of Mexico Operations, for an engineering, procurement, construction and installation contract for the Odd Job field in the Gulf of Mexico. View the full article
Building on an existing collaboration that has been ongoing since Aker BP was established, KDI will continue to contribute in accelerating Aker BP’s digitalization process by enabling real-time cloud-based data access, supporting decision-making, and improving efficiency. View the full article
KKR and Contango are doubling down on investing in exploration and production companies as many in the sector seek to recover from years of poor returns amid the shale boom and bust. The combination will allow the merged company to reach greater scale, boost access to capital and drive down the cost of production, the people said. View the full article
KKR and Contango are doubling down on investing in exploration and production companies as many in the sector seek to recover from years of poor returns amid the shale boom and bust. The combination is said to allow the merged company to reach greater scale, boost access to capital and drive down the cost of production. View the full article
KKR is bucking the trend among private-equity peers that have been unloading shale investments after back-to-back oil market busts. The move may signal a bullish turn with U.S. crude prices heading for the best annual performance since 2015. View the full article
The Permian Strategic Partnership announced today the addition of two new companies, Kinetik and WaterBridge Resources, bringing its member company count to 19. View the full article
Kimmeridge is buying out Commonwealth LNG founder Paul Varello’s share in the company as he retires and boosting the firm’s stake to 90%. The company also is appointing David Lawler — who resigned from bp in the wake of Bernard Looney’s departure in 2023 — as chief executive officer of the Kimmeridge Texas Gas unit, which would run Commonwealth LNG. View the full article
Without Keystone XL, rail will become a more important way for Canadian oil to reach U.S. Gulf Coast refineries, which need the heavy crude to replace declining supplies from Mexico and Venezuela. And more rail traffic means greater derailment risk. 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.