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Wednesday, the Senate approved language calling for Senate negotiators to support the issuance of a new Five Year Program for offshore oil and gas leasing as soon as possible and that the new program should include at least two area-wide lease sales per year. View the full article
Oil set its biggest weekly gain in more than three months as the worst fears over the new virus strain have receded. View the full article
Saudi Aramco taking the crown of the world’s most valuable company from Apple Inc. underscores investors’ appetite for oil and gas as the countries around the globe battle rampant inflation and fear of energy shortages. 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
Russia’s Nord Stream 2 may need a few more months to clear remaining red tape before the controversial pipeline begins pumping natural gas to Germany to help ease Europe’s energy crunch. View the full article
4Subsea, a leading provider of digital technology and services to the energy and maritime sector, has successfully completed more than 300 measurement campaigns across the North Sea following the launch of its digital twin technology, significantly increasing uptime and mitigating risk during well operations. View the full article
President Joe Biden faces growing pressure from fellow Democrats to address rising gasoline prices with measures such as a ban on oil exports, a move that could upend global markets, discourage shale drilling and end up not helping American drivers that much. View the full article
Oil rallied at the start of the week’s trading on signs that the crude market is tightening amid a global energy crunch. View the full article
Exxon Mobil Corp. renewed two deepwater leases in Nigeria for 20 years, among the first permits granted under the country’s new oil and gas law. View the full article
Eni SpA became the second foreign firm to win a stake in a $29 billion project that will expand Qatar’s production of liquefied natural gas as the energy crisis in Europe escalates and prices climb. View the full article
OPEC and its allies agreed to proceed with their next oil-production hike, while signaling they could revisit the decision at any moment as the risk to demand from the omicron variant of Covid-19 becomes clearer. View the full article
Global demand for oil products has seen strong recovery this year, however, depressed kerosene demand from the aviation sector is a major barrier to full recovery, says GlobalData, a leading data and analytics company. 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
Canadian heavy crude’s price collapsed at the U.S. trading hub of Cushing as refiners shun heavy and higher-sulfur crude for lighter grades that are less expensive to process in refineries. View the full article
Al Gore, the former vice president of the U.S. and the chairman of Generation Investment Management LLP, said the world is witnessing a sustainability revolution and warned that investors caught on the wrong side of history will face losses. View the full article
The UK, the U.S. and 18 other nations are signing a joint statement committing to end funding for foreign oil, gas and coal projects by the end of next year, while prioritizing support for clean energy, according to people familiar with the matter. View the full article
Major economies sharply increased support for the production and consumption of coal, oil and natural gas, according to analysis released by the Organisation for Economic Co-operation and Development and the International Energy Agency. View the full article
The American Bureau of Shipping (ABS) is providing New Technology Qualification services for pioneering subsea storage technology from NOV. View the full article
The U.S. Supreme Court restricted the Environmental Protection Agency’s authority to curb greenhouse gases from power plants, siding with coal-mining companies and Republican-led states in a blow to President Joe Biden’s climate-change agenda. View the full article
Through the agreement, Longboat farmed-in to two near-term, gas weighted exploration prospects on the Norwegian Continental Shelf targeting combined gross unrisked mean prospective resources of 223 MMboe. View the full article
Oil headed for the biggest monthly loss since October as investors weighed the prospect of additional OPEC+ production and the restoration of crude output in the U.S. after Hurricane Ida. View the full article
Refiners across the U.S. Gulf Coast, Midwest and Eastern Canada are seeking oil that’s less dense and has less sulfur to avoid processing it through a unit that needs expensive natural gas. View the full article
Today Offshore Energies UK (OEUK) launches the search to find an outstanding industry leader who will champion the role of the integrating offshore energies sector in the transition to low carbon energy. View the full article
Baker Hughes Co. tumbled by the most in two years after warning that sales in Russia would continue to erode amid sanctions on the warring nation. View the full article
Lukoil was the only Russian oil producer to call for a “fast resolution of the military conflict” in Ukraine early March, just after Moscow’s invasion of its neighbor entered its second week. Vagit Alekperov, the company’s founder, chief executive officer and also a major shareholder, announced his resignation in April after being targeted by international sanctions. 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.