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India’s Oil and Natural Gas Corp. is exploring a purchase of a significant minority stake in the $4 billion-plus Sangomar oil project off the coast of Senegal from Woodside Petroleum Ltd., according to people familiar with the matter. View the full article
Asian liquefied natural gas traders are rushing to secure shipments from the U.S., where the fuel is among the cheapest in the world despite what’s turning into the steepest price run in two decades. View the full article
Crude production in the Permian Basin is expected to surpass a pre-pandemic high this month as a rebound in the U.S. shale industry fuels activity in its most prolific patch. View the full article
The U.K. got less than a quarter of its oil supplies from its own fields last year, compared with about 9% from Russia. And domestic output is dropping fast — down by 10% in the first quarter from a year earlier after companies cut investment or spent their cash elsewhere. View the full article
Radix Engineering and Software closed a R$49 million (approx. $9.5 million) contract with Petrobras to develop and maintain scientific software focused on Well Engineering and Subsea Engineering. View the full article
The oil demand picture remains uneven across various regions, with Indian fuel sales falling in February amid higher pump prices, while demand is climbing in America and the UK. View the full article
EQT Corporation today announced it entered into a purchase agreement with Alta Resources Development, pursuant to which EQT will acquire all of the membership interests in Alta's upstream and midstream subsidiaries for approximately $2.925 billion, subject to customary closing adjustments. View the full article
BP Plc and Russia’s Lukoil PJSC want to sell down their assets in Iraq, according to the country’s oil minister. View the full article
Gazprom PJSC is planning to start flowing natural gas through one of the world’s most controversial pipelines next month, according to people with direct knowledge of the company’s plan. View the full article
Saudi Aramco said oil-output capacity across the world is dropping quickly as the kingdom opened the fifth edition of its flagship investment conference Tuesday in Riyadh. View the full article
Billionaire oil wildcatter Harold Hamm is donating $50 million for a new research center at Oklahoma State University focused on “securing America’s energy future,” a move that comes as the industry debates how to transition to cleaner fuels. View the full article
African nations should resist pressure from “powerful interests” to hastily abandon fossil fuels to avoid hurting their economies, Angola’s President Joao Lourenco said. View the full article
The government’s decision to release the results of its "Climate Compatibility Checkpoint" consultation on new oil and gas projects will boost UK energy security while minimizing greenhouse gas emissions, Offshore Energies UK said. View the full article
A round-up of data on shale drillers shows they’re sticking to their pledge to cut costs, return money to shareholders and reduce debt. If they stay the course, it would validate the OPEC+ alliance’s high-stakes wager that it can curb output and drive crude prices higher without unleashing an onslaught of supply from U.S. rivals. View the full article
Survival technology leader Survitec today announced it has acquired Hansen Protection, a leading European provider of personal protective equipment. The transaction reinforces Survitec as a leader for survival technology across the maritime, defense and government, energy, and aerospace markets. View the full article
OPEC+ fails to strike a deal, abandoning its planned meeting and leaving the oil market facing much tighter supplies than had been expected. View the full article
Higher consumption across major economies is buoying oil prices that have rallied around 40% this year. Against this backdrop, the OPEC+ alliance decided to keep restoring crude supply earlier this month, citing tighter balances into year-end. View the full article
Oil’s bumper rally cooled after an increase in U.S. crude inventories and as industrial commodities retreated. View the full article
Oil eked out a gain, climbing in tandem with equities, as traders weighed the Federal Reserve’s shift to tighter monetary policy to battle inflation. View the full article
The Arab Petroleum Investments Corp. has appointed Khalid bin Ali Al-Ruwaigh as its new CEO, taking over from Dr. Ahmed Ali Attiga who led the organization over the past five years, during which APICORP successfully navigated an ever-changing business and energy landscape. View the full article
President Joe Biden said he expects further oil supply increases from Saudi Arabia to help tame fuel costs at home after a landmark meeting with the kingdom’s rulers. View the full article
The process of industry companies digitally connecting most everything is moving inexorably forward said executive participants in a Tuesday mid-morning panel discussion at the Schlumberger Digital Forum in Luzern, Switzerland. View the full article
Twelve years ago on Friday, March 12th, the Canadian province of Newfoundland and Labrador experienced the tragic loss of 17 people when Flight 491 crashed in the waters off the coast. View the full article
Noia CEO Charlene Johnson said the Premier’s Economic Recovery Team report highlights the need for a competitive regulatory regime that allows the Newfoundland and Labrador offshore oil and gas industry to successfully bring projects to market. View the full article
The group’s oil ministers were unable to reach a compromise, keeping current production limits in place for August and depriving the market from the extra barrels it needs as demand recovers from the pandemic. 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.
