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OPEC and its allies agreed to proceed with their next oil-production hike, while signaling they could revisit the decision at any moment as the risk to demand from the omicron variant of Covid-19 becomes clearer. 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
Saudi Arabia’s finance minister echoed warnings from the kingdom’s oil officials that a slowdown in fossil-fuel investment globally will cause spikes in energy prices. View the full article
“It’s hypocritical to kill clean fossil fuel jobs here in America claiming it ensures a clean environment, and then beg our foreign adversaries to produce more using much less environment-friendly methods," Railroad Commission of Texas Chairman Wayne Christian said in a statement. View the full article
Al Gore, the former vice president of the U.S. and the chairman of Generation Investment Management LLP, said the world is witnessing a sustainability revolution and warned that investors caught on the wrong side of history will face losses. View the full article
CGG, a global technology and HPC company, announced a major multi-year global data transformation and curation agreement with bp, that will play a key role in supporting bp’s Subsurface digital strategy. View the full article
The United Arab Emirates will accelerate $20 billion of natural-gas projects by awarding contracts for some of them in the coming days, as it seeks to boost exports of the fuel. 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
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 MMboe. View the full article
Refiners across the U.S. Gulf Coast, Midwest and Eastern Canada are seeking oil that’s less dense and has less sulfur to avoid processing it through a unit that needs expensive natural gas. View the full article
A consortium of TotalEnergies, Corio Generation and Qair has been pre-selected by the French Directorate General for Energy and Climate to participate in a competitive tender to develop two floating windfarms in the Mediterranean Sea. View the full article
The American Petroleum Institute (API) has named Stephen Comstock as Vice President and Senior Counselor for Policy, Economics and Regulatory Affairs, and promoted Dr. Aaron Padilla to Vice President of Corporate Policy. View the full article
The European Union’s ban on seaborne imports of Russian petroleum in response to Russia’s invasion of Ukraine will lead to an 18% drop in the country’s fuel output by the end of next year, the Energy Information Administration (EIA) said in a monthly report. View the full article
Ecuador’s oil production is likely to halt completely within 48 hours if road blocks and vandalizing of oil wells continue, the Energy Ministry said in an emailed statement. View the full article
Chevron Corp. boosted its planned share buyback to as much as $5 billion per year, as the oil giant uses higher commodities prices to step up returns to investors rather than investing in production growth. 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
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
Europe can reduce energy dependence on Russia quicker than previously estimated, Mario Draghi said in an interview with Corriere della Sera. View the full article
Oil fell as the U.S. intensified pressure on OPEC+ to boost supplies when it meets on Thursday, while concerns grew that tighter policy from the Federal Reserve will impede growth. View the full article
As part of the rollout of its multi-energy strategy in Angola, TotalEnergies announced the launch of the Begonia oil field, and Quiluma and Maboqueiro gas fields developments, as well as its first photovoltaic project in the country. View the full article
President Joe Biden is under intensifying pressure to keep a lid on rising gasoline and natural gas prices that threaten the economic recovery and Democrats’ political ambitions. 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
Citigroup Inc. more than doubled its Asian and European natural gas forecasts for next quarter and said prices could surge to as high as $100 per million British thermal units in the event of a particularly cold winter. View the full article
President Joe Biden faces growing pressure from fellow Democrats to address rising gasoline prices with measures such as a ban on oil exports, a move that could upend global markets, discourage shale drilling and end up not helping American drivers that much. View the full article
OPEC+ is unlikely to increase output in the coming months because of limited spare capacity, according to the International Energy Agency. 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.