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Russia’s oil revenues are up 50% this year even as trade restrictions following the invasion of Ukraine spurred many refiners to shun its supplies, the International Energy Agency said. View the full article
Two months after negotiators left Vienna, expectations are fading that Iran nuclear talks will resume, leaving the world with the remains of an agreement no one’s willing to pronounce dead. View the full article
The drive to reach net zero greenhouse gas emissions by 2050 has taken a sizeable step forward with the award of two carbon storage licenses in the Southern North Sea. View the full article
The Interior Department said it “will not move forward” with two Gulf lease auctions that were planned under former President Barack Obama “as a result of delays due to factors including conflicting court rulings." View the full article
A wind energy auction lease sale drew competitive winning bids from two companies - TotalEnergies Renewables USA and Duke Energy Renewables Wind - totaling approximately $315 million. View the full article
The Energy Workforce & Technology Council honored Sen. James Inhofe (R-OK) with the "Champion of American Energy" award for his relentless and uncompromising commitment to the oilfield services industry and the domestic energy sector. View the full article
Weekly U.S. crude oil production declined for the first time in three months, signaling that soaring costs across the oil fields may be preventing drillers from expanding output. View the full article
Energy Workforce & Technology Council honored Congressman Kevin Brady (R-TX-08) with the "Champion of American Energy" award during a lunch in Washington, D.C., for his relentless and uncompromising commitment to the oilfield services industry and the domestic energy sector. View the full article
A London-based startup that makes small, modular units to capture carbon emissions from smokestacks has raised $150 million from investors that include the venture arms of Chevron Corp., Saudi Arabian Oil Co., and Samsung Group. View the full article
Libya’s parliament-backed prime minister said closed oil fields and ports in the OPEC country may soon reopen, though his rival’s energy minister said negotiations with protesters were proving difficult. 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
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
The program was first launched in 2020 to test the extent to which mediation can resolve certain disputes between oil and gas licensees, operators and infrastructure owners in the UK Continental Shelf. View the full article
Responding to the Queens’s speech, Offshore Energies UK said the proposed Energy Bill must create the predictability needed to attract the long-term investment crucial to boosting the nation’s energy security. View the full article
Noble Corp. and Maersk Drilling offered to divest some of its offshore operation platforms to avoid an in-depth investigation from the U.K.’s antitrust regulator over the $2.6 billion deal, potentially smoothing the way for approval. 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
Equinor ASA sold assets in the North Sea for $1 billion as it seeks to benefit from high oil prices and redirect proceeds to other core businesses. View the full article
Offshore energy professionals from around the world convened at the 2022 Offshore Technology Conference to discuss the latest advancements in the offshore oil and gas industry, while touting the role that the offshore energy industry plays within the energy transition. View the full article
Apex International Energy announced the Fajr-8 development well was tested at a daily rate of 2,440 barrels of oil and negligible water. View the full article
More than 100 oil and gas projects should commence operations in Nigeria during the next four years, accounting for more than 24% of the predicted total projects starts during that time, predicts GlobalData. View the full article
Oil booms typically spark a chase for higher production -- but not this time. All five supermajors have kept their capital expenditure budgets firmly in check and pledged that this discipline will hold in future years. View the full article
Japanese Prime Minister Fumio Kishida said it would take time to phase out imports of Russian oil, hours after he joined other Group of Seven leaders to impose a ban on crude over the Kremlin’s invasion of Ukraine. View the full article
The U.S. Department of Energy is actively aligning funds and programs to further support the thriving offshore wind industry, specifically projects in the US Gulf of Mexico and Central Atlantic. View the full article
Shell Plc is in talks to sell its fuel stations in Russia as it withdraws from the country in response to the invasion of Ukraine. View the full article
Following the dramatic recovery in U.S. steel production last year - a more than 18% year-on-year increase - the market is increasingly losing momentum. 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.
