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Peru’s government can’t find board members to lead its struggling state-owned oil company more than five weeks after its last board resigned. View the full article
CNOOC Limited and 80883 announced that Huizhou 26-6 Oilfield Development Project has commenced production. A total of 19 development wells are planned to be commissioned, including 2 oil production wells and 17 gas production wells. View the full article
After four years of bruising trade battles with Donald Trump, the Biden administration already has canceled a permit for TC Energy Corp.’s Keystone XL oil pipeline and threatened new “Buy American” provisions for government procurement contracts. View the full article
Oil industry officials have encouraged the administration to seek methane reductions across the economy, including from agriculture. While some independent oil producers oppose new methane-cutting mandates, the trade group American Petroleum Institute supports explicit regulation of methane. View the full article
Crude found support with U.S. consumer prices in May topping forecasts, extending a months-long buildup in inflation that is seen helping spur more interest in alternative assets like commodities to find yield. View the full article
Leveraging an intelligent and dynamic downhole automated control system that instantly interprets and acts on data, Schlumberger continues to advance its digital offering enhancing well construction performance. View the full article
The partnership leverages the two businesses’ recent collaboration in the development of the OFG AUV non-contact integrated Cathodic Protection (iCP) inspection system, and enable the sharing of resources on several pipeline inspection and geohazard surveys. View the full article
BP Plc plans to build a green hydrogen facility in northeast England that could start producing the gas by 2025, part of a massive project to help the oil major transition toward cleaner sources of energy. View the full article
Contrary to the tone of some news coverage, we see the overnight news that Senator Manchin convened a bipartisan group, together with Senator Murkowski (R-AK), to discuss a bipartisan energy bill, as bad news, not good news, for the prospects of energy legislation before the midterm elections. View the full article
BP paid tax on its UK North Sea business in 2021 for the first time in at least six years, according to the company’s latest payments to governments report. View the full article
Progress toward an Iranian nuclear deal has thrown the spotlight onto a sizeable cache of crude held by Tehran that could be swiftly dispatched to buyers in the event an agreement gets hammered out. View the full article
The retreat by one of Britain’s biggest oil and gas companies underscores the challenge facing the UK government in developing floating offshore wind into a major industry, just as costs for the technology have increased. View the full article
Helix will provide an increased minimum number of days annually with the Q5000 riser-based well intervention vessel, Intervention Riser Systems (IRSs), remotely operated vehicles (ROVs), and project management and engineering services to cover fully integrated operations from production enhancement to plug and abandonment well services. View the full article
Oman’s state energy company raised $2 billion from the initial public offering of its exploration and production business, marking the sultanate’s biggest listing on record. View the full article
Offshore Energies UK (OEUK) says Scotland’s new hydrogen export strategy can build on the nation’s industrial strengths and unlock a £93 billion export opportunity if firms are now backed with a clear action plan to attract investment and talent. View the full article
Oil has surged this year after Saudi Arabia pledged to unilaterally cut 1 million barrels a day in February and March, with Goldman Sachs Group predicting the crude rally will accelerate as demand outpaces global supply. View the full article
Crude prices found support with U.S. consumer prices in May topping forecasts, extending a months-long buildup in inflation that is seen helping spur more interest in alternative assets like commodities to find yield. View the full article
Oil fell for a fourth day, marking its longest run of losses since March, pressured by a rising dollar and economic data illustrating the U.S. recovery’s uneven path. View the full article
The UK Oil and Gas Authority has awarded a carbon dioxide appraisal and storage license to Harbour Energy, boosting the drive to reach net zero greenhouse gas emissions by 2050. View the full article
Saudi Arabia’s Energy Minister Abdulaziz bin Salman played down the likely fallout from the new coronavirus variant that pummeled oil markets last week. View the full article
Contrary to the tone of some news coverage, an analyst at Evercore ISI sees the overnight news that Senator Manchin convened a bipartisan group, together with Senator Murkowski (R-AK), to discuss a bipartisan energy bill, as bad news for the prospects of energy legislation before the midterm elections. View the full article
Energy services provider Expro is leading industry efforts to meet environmental targets with the development of a digital technology that can help drilling contractors and operators cut an estimated 146 tons of CO2 emissions annually – the equivalent of 58 transatlantic flights. View the full article
Shelf Drilling, Ltd. has secured a 15-month award for the Shelf Drilling Tenacious jack-up rig for drilling operations offshore West Africa. View the full article
The partners will transition Aker BP’s current application portfolio to the cloud and create one integrated platform for subsurface workflows. The high-performance computing speed of the cloud will enable the platform to leverage advanced AI and domain expertise from SLB and Aker BP to reveal new insights from previously untapped data, driving substantial efficiency and performance improvements. 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.
