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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
Schlumberger announced it has expanded its global INNOVATION FACTORI network with the inauguration of a new center in Oslo, Norway. View the full article
Environmental groups sued the Biden administration to block its revival of plans to allow new oil drilling on public land in western states. View the full article
Kayrros has released measurements quantifying the total methane emissions across the Appalachian Basin. The findings, derived from satellite data and proprietary algorithms, place the Appalachian Basin ahead of the Permian as the biggest source of methane in the US and identify the primary sources behind its emissions. View the full article
Exxon Mobil Corp. will award U.S. employees below-inflation pay increases in early 2022 despite a strong rebound in earnings over the past 12 months. View the full article
Shell Brasil Petróleo, a subsidiary of Shell plc, signed a Production Sharing Contract to acquire a 25% stake of the Atapu field. Shell paid $1.1 billion to Petrobras for the increased stake in the field. View the full article
Railroad Commission of Texas commissioners approved a proposed sweeping weatherization rule to help protect Texans during weather emergencies that could occur any time of the year. View the full article
Ecopetrol SA, Colombia’s biggest oil company, would hand over about $4 billion to the government in exchange for control of another state-sponsored outfit, the electric utility giant known as ISA. The deal, as investors from Bogota to New York see it, has all the markings of a cash-strapped federal government forcing a state-run company to bail it out. View the full article
A new supercycle in global oil prices could be triggered by a lack of new investments in exploration, Saudi Arabia’s energy minister said. View the full article
European gas futures continued their march upwards on Thursday, even after Russia pledged to deliver as much supply as the continent needs. View the full article
Turkey threatened to block any unauthorized search for gas and oil in its economic exclusive zone in the eastern Mediterranean after Cyprus awarded hydrocarbon exploration and drilling rights in its offshore block 5 to a venture of Exxon Mobil and Qatar Petroleum. View the full article
After driving up prices for everything from steel pipes to frac sand to labor, inflation has finally ensnared the centerpiece of oilfield equipment: the drilling rig. View the full article
Hydrogen has a crucial role in decarbonizing the world’s energy system, but uptake will be too slow. Governments need to make urgent, significant policy interventions, according to a new report by DNV. View the full article
The world’s biggest oilfield contractor joined rivals Halliburton and Baker Hughes this week in predicting expansion in overseas work and a more muted recovery in North America through the rest of 2021. Global oil demand should return to pre-pandemic levels by the end of next year, if not sooner, Schlumberger CEO Olivier Le Peuch told analysts on Friday. View the full article
A new supercycle in global oil prices could be triggered by a lack of new investments in exploration, Saudi Arabia’s energy minister said. View the full article
Russia’s crude oil exports in the first 28 days of April jumped more than 17%, with hikes recorded for flows via all key pipelines and ports even as the nation’s production declined. View the full article
Co-owners of the Terra Nova FPSO facility and associated Terra Nova Field have reached an agreement in principle to restructure the project ownership and provide short-term funding towards continuing the development of the Asset Life Extension Project, with the intent to move to a sanction decision this fall. View the full article
A South African court has ruled that Royal Dutch Shell Plc can proceed with a seismic survey offshore the East Coast, after dismissing a legal application by activist groups. View the full article
Exxon Mobil Corp. and Chevron Corp. will together give more cash to shareholders than they invest in oil and gas production this year even as political leaders call on the industry to increase output to help ease soaring consumer prices. View the full article
The Neptune-operated Dugong discovery, in Production License 882, was one of the largest discoveries on the Norwegian Continental Shelf in 2020. Neptune estimates recoverable resources to be between 40 - 120 million barrels of oil equivalent (boe). View the full article
Nigerian President Muhammadu Buhari reversed a government decision to revoke four oil permits from a unit of China’s Sinopec. View the full article
The aim of the collaboration is to explore safe implementation of potential new technologies, working jointly with relevant governmental agencies to promote the introduction of hydrogen as an energy source in the Singapore market to support the country’s decarbonization goals. View the full article
Oil producers in the Permian Basin must do more to disclose and stop the leak of methane, a powerful greenhouse gas, a House committee wrote in a letter to 10 major oil companies. View the full article
European Union energy ministers tried to project a united front Monday in rejecting Russia’s demands to buy gas in rubles as the bloc tries to prevent Vladimir Putin from sowing divisions in the bloc. View the full article
Canada’s economic expansion suffered a minor setback last month after a robust start to the year, driven by a drop in oil production. 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.
