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Warren Buffett’s Berkshire Hathaway Inc. won approval from U.S. regulators to buy as much as 50% of Occidental Petroleum Corp. after spending months acquiring its shares. Occidental’s shares surged on news of the authorization. View the full article
One of the world’s largest semi-submersible, heavy-lift crane platforms has been awarded the ABS Integrated Software Quality Management (ISQM) notation, recognizing its risk-based approach to critical software control safety systems. View the full article
Invictus Energy Ltd. plans to start drilling at its Cabora Bassa oil and gas prospect in northern Zimbabwe by early September. View the full article
A new study indicates that unnecessary growth in the number of processes and procedures and lack of equipment reliability are the biggest concerns for maintenance managers in the oil and gas industry. View the full article
After many weeks of signaling and speculation, a group of major oil consumers including the U.S. has announced a coordinated plan to tackle soaring energy costs by releasing crude from strategic reserves. The question now is whether it’s going to work. View the full article
Energean plc announced that it has extended its growth drilling program by exercising its options to drill two further wells with Stena Drilling Limited and to provide an update on the initial results of the KM-04 appraisal well. View the full article
TotalEnergies and Eni made a significant gas discovery at the Cronos-1 well, in Block 6, offshore Cyprus. This discovery follows the Calypso-1 discovery made on the same Block in 2018. View the full article
“At Petronas, we are continuously looking to create value with disruptive technologies that offer optimum solutions. Utilizing AVEVA Unified Supply Chain software, we have been able to adopt a more integrated business process, that optimizes our productivity, allowing us to deliver with less,” said Yusri Yusof, vice president of refining and trading at Petronas. View the full article
Neptune Energy, ExxonMobil subsidiary XTO Netherlands, Ltd., Rosewood Exploration Ltd., and EBN Capital B.V. announced the signing of a Cooperation Agreement to progress the L10 large-scale offshore carbon capture and storage project in the Dutch North Sea. View the full article
GATE Energy, the Houston-based engineering, commissioning and field services firm, announced that it has been awarded the commissioning management and execution contract for LLOG's Salamanca development. View the full article
A fourth weekly decrease in crude inventories and the decline in production highlights the steady downtrend in U.S. supplies before an unprecedented cold blast wiped out nearly 40% of domestic output. Still, demand for crude and fuel is weaker with the cold weather spurring a string of refinery outages and keeping more Americans off the road. View the full article
Crude production in the Permian basin will reach 4.466 million barrels a day in May, the most in a year, and rig counts have touched a one-year high, according to the latest data from the Energy Information Administration. View the full article
Gender diversity remains a challenge in the U.S. shale patch, where fewer than two of every 10 jobs are held by women, according to the latest study by a trade group representing the hired hands of the oil field. View the full article
Royal Dutch Shell Plc’s Nigerian unit agreed to pay a community in the West African country more than $110 million to resolve a long-running dispute over an oil spill that occurred more than 50 years ago. View the full article
President Joe Biden’s effort to tame pump prices by tapping government oil stockpiles could backfire for one simple reason: American gasoline prices more closely track international, rather than U.S., oil benchmarks. View the full article
KKR is bucking the trend among private-equity peers that have been unloading shale investments after back-to-back oil market busts. The move may signal a bullish turn with U.S. crude prices heading for the best annual performance since 2015. View the full article
With winter fast approaching and a stunning energy price surge pummeling Europe, Russian President Vladimir Putin chose an opportune moment to use his country’s leverage as an oil and gas superpower. View the full article
Liberty Oilfield Services Inc. posted its best quarterly sales since going public more than four years ago as the global energy crisis spurs a boom in demand for fracing. View the full article
Oil broke through a months-long trading range as expectations of tightening supplies in the U.S. compounded signs the world’s largest oil-consuming country is in the midst of a robust recovery. View the full article
The Biden administration called on OPEC countries and U.S. regulators to do more to ensure a stable energy supply, with a specific focus on retail gasoline prices that the President pledged to keep affordable. View the full article
Libya’s oil production has risen in the past week to around 700,000 to 800,000 barrels a day, according to Energy Minister Mohamed Oun. View the full article
On July 30, ENTSO-E allowed a 2.5-fold increase in the export of Ukrainian electricity to Europe, only up to 250 MW. This gives Ukraine a revenue stream for supporting its energy sector. View the full article
At present, OPEC+, the Organization of Petroleum Exporting Countries plus Russia, resembles an unstable nucleus of a radioactive atom; judging by what we hear on political front, there seems to be an uneasy compliance with self-imposed quota-limits with murmurs of cacophonies.
Although crude price dipped slightly over the past two days, it is still high and countries that desperately need petro cash to prop up under-performing economies are deprived of a once-in-a decade opportunity to ca
“The offshore oil and gas industry continues to receive broad support across Newfoundland and Labrador and I believe this can be attributed to the value it provides our province and country in tangible terms of well-paying jobs, royalties and benefits to help pay for public services," said Charlene Johnson, Noia CEO. View the full article
Oil steadied after a two-day advance as investors bet the global demand recovery will remain intact despite the latest wave of Covid-19 that’s led to tighter restrictions on movement in many countries. 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.
