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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
Schlumberger New Energy announced an investment and collaboration agreement to deploy EnerVenue’s uniquely differentiated nickel-hydrogen battery technology, which is a key enabler of stationary energy storage solutions. View the full article
Logan Industries International Corporation has successfully delivered a subsea grease injection unit as part of a complete subsea wireline pressure control system for a major subsea oil and gas company. View the full article
Gazprom PJSC has finished preparing the controversial Nord Stream 2 pipeline for natural gas exports to Europe, yet actual deliveries depend on how quickly regulators grant the project approval amid souring relations between Russia and Western nations. View the full article
Shale driller Diamondback Energy Inc. is bracing for a 10% jump in costs next year amid supply-chain snarls rippling through the oil industry. View the full article
The world will have to wait until October for additional oil supplies as output losses from Hurricane Ida wipe out increases from OPEC+, the International Energy Agency said. View the full article
The C-Kore tools were used to test the electrical integrity of the subsea assets, giving quick feedback to the operator for their maintenance decisions on the field. View the full article
Oil reversed losses to close slightly higher after another day passed without an announcement from the Biden Administration to tap U.S. crude reserves. View the full article
KFX CO2 simulation software is being developed by DNV and Equinor to increase safety in carbon capture and storage. View the full article
Oil’s stability relative to natural gas and coal underscore that OPEC+ is doing a good job balancing supply and demand, said the energy ministers of Saudi Arabia and Russia. 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
U.S. retail gasoline prices are poised to average more than $4 a gallon in three states for the first time in 13 years as energy prices surge and fan fears of inflation. View the full article
World oil consumption will expand by 1.8 million barrels a day, down from the 3.4 million a day anticipated this year, the group’s preliminary projections show, according to a delegate. The outlook will be reviewed by representatives from the group’s member states next week. View the full article
OPEC and its allies can likely continue reviving oil production, two key Middle East members said as the group prepares to consider its next supply hike. View the full article
Oil edged up after the Energy Information Administration said the impact of a potential release from U.S. emergency crude reserves would only be short-lived. View the full article
The White House’s push for releases of oil from national reserves is already fully priced into the market following the drop in crude prices in recent weeks, according to Goldman Sachs Group Inc. View the full article
Iran wants to pump more oil than it did before the Trump administration tightened sanctions, a top official said ahead of high-level nuclear talks whose outcome would directly impact the country’s energy-market ambitions. View the full article
Oil in New York surged past $81 a barrel after the International Energy Agency became the latest to say natural gas shortages are boosting demand for crude. View the full article
The Biden administration’s plan to crack down on smog in the oil-rich Permian Basin threatens to curb crude production while gasoline prices are near record highs and energy scarcity grips the globe, the industry warned Thursday. View the full article
Louisiana is investigating the source of a cloud of methane that was spotted from space near multiple natural gas pipelines. View the full article
U.S. shale oil production will expand at a “modest rate” over the next 18 months even as prices touch multiyear highs, according to BloombergNEF, leaving OPEC in a powerful position as the world cries out for more barrels. View the full article
B3 Insight announces the completion of the data disclosure pilot for the WaterSage Certification developed in partnership with B3’s Oilfield Water Stewardship Council (OWSC) members. 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 mmboe1. 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
Oil settled at the highest level in nearly a month after U.S. crude stockpiles decreased and economic data pushed equities higher. 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.