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The U.K. government got together with Shell Plc in London this week to talk up North Sea oil and gas, the latest sign of the country’s pivot back toward domestic fossil fuels since Russia’s invasion of Ukraine. View the full article
Hydrocarbons remain a necessary part of the global energy mix. Unlocking Uganda’s fossil-fuel resources will help meet its development needs – and even reduce emissions. View the full article
Mexico cut its forecast for oil production at Pemex next year and reduced its tax burden after a string of accidents at offshore platforms signaled the highly indebted state company is struggling. View the full article
Global drilling, engineering and technology provider KCA Deutag has been awarded contracts worth almost $185m from leading exploration and production companies across key markets in the Middle East region. View the full article
Gazprom PJSC increased its 2021 price guidance for natural gas exports, while signaling caution on volumes it could ship, as Europe’s energy crisis worsens. View the full article
The American Petroleum Institute announced the promotion of Cole Ramsey to Vice President of Upstream Policy. In this role, Ramsey will lead the API Upstream team, manage API’s Upstream Committee and spearhead the coordination of Upstream oil and natural gas issues across the organization to help advance API’s mission. View the full article
Oil climbed amid broader market gains on reports that early cases of the omicron Covid-19 variant have been fairly mild, easing concern about a possible blow to demand. View the full article
Oil climbed above $70 a barrel in New York after three weeks of gains as investors tracked the slow restoration of supplies in the Gulf of Mexico and the outlook for demand and inventories over the fourth quarter. View the full article
West Texas Intermediate futures tumbled 3.4% to close at the lowest in more than two weeks. The delta variant of Covid-19 has been detected in almost half of China’s 32 provinces in two weeks, and at least 46 cities have advised residents against non-essential travel. View the full article
Norway’s opposition Labor Party is on course to oust the Conservative-led government after two consecutive terms in an election dominated by disputes over the Nordic economy’s dependence on fossil fuel. View the full article
Petrofac has signed an agreement with carbon capture technology company, CO2 Capsol, which enables collaboration on carbon capture projects. View the full article
The Province of British Columbia awarded a second geothermal permit to Fort Nelson First Nation to advance development of the Tu Deh-Kah Geothermal project at Clarke Lake. View the full article
Abu Dhabi National Oil Company announced the award of five framework agreements totaling $1.83 billion for Directional Drilling and Logging While Drilling. View the full article
Canadian-based oil and gas exploration company, Eco Atlantic, through its subsidiary Azinam Limited, signed a farmout agreement for the acquisition of an additional 6.25% participating interest in Block 3B/4B offshore South Africa. View the full article
The company notes that COVID-19 has been a wake-up call to the upheaval that a sudden drop in energy demand and/or labor availability can cause, and digital oilfield technologies such as digital twins and other remote monitoring solutions will be gamechangers in upstream oil and gas operations. View the full article
European natural gas futures surged to record highs on Monday as the amount of Russian gas flowing into Europe through a key entry point dipped, crimping supplies in an already tight market. View the full article
ADNOC Drilling Company announced it has signed a sale and purchase agreement to acquire an additional two premium offshore jack-up drilling units. View the full article
The NSTA has launched this carbon storage licensing round in response to unprecedented levels of interest from companies eager to enter the market. View the full article
European oil major Shell Plc cautioned that Europe may have to brace for a string of winters with exorbitant power bills and electricity rationing as Russia squeezes gas supplies. View the full article
Saudi Arabia said it would use one of the world’s biggest natural-gas projects to make blue hydrogen, as the kingdom steps up efforts to export a fuel seen as crucial to the green-energy transition. View the full article
Russia appears to have found a new means of getting its oil to market with western sanctions looming for Moscow. View the full article
This year’s event on May 24 marks the first conference to be hosted by Offshore Energies UK since it evolved into the leading trade body for organizations with an interest in offshore oil, gas, carbon capture and storage, hydrogen and wind. View the full article
Schlumberger New Energy, the CEA and partners have announced the signature of pilot project agreements between Genvia and critical-industry leaders on the pathway to net zero in the cement and steel industries View the full article
Major energy traders including Gunvor Group Ltd. and Mercuria Energy Group Ltd. have reduced the size of their trading positions and increased borrowing from lenders to cover large margin calls stemming from the unprecedented surge in European gas prices, according to people familiar with the matter. 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
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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.