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OPEC’s top diplomat told European Union officials that the current crisis in global oil markets caused by Russia’s invasion of Ukraine is beyond the group’s control. View the full article
From a barbecue lunch at an LNG terminal in Texas to commercial talks near Capitol Hill, American natural gas companies are making a multi-state push to woo potential European buyers. 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
Longboat Energy, an emerging full-cycle North Sea E&P company, announced the commencement of drilling operations on the Cambozola exploration well in Norway. View the full article
Canada’s banks just started on the path toward zeroing-out the carbon emissions of the companies they lend to, and already they’re running into conflicts between what climate activists and ESG investors want and what Canada’s oil-dependent economy demands. View the full article
The difference in business models of shale wells and offshore projects explains why it’s so difficult for oil giants such as Shell to quickly ramp up production when geopolitical disruptions like Russia’s war in Ukraine upend markets. View the full article
Assuming that comments from conference participants are reflective of the industry’s overall mood, then the pace of digital transformation in oil and gas is gaining momentum in 2022. View the full article
DTEK CEO Maxim Timchenko said the Ukrainian people and armed forces of Ukraine have demonstrated persistent and strong resistance in facing the Russians, while DTEK Group has made its contribution to a Ukrainian victory. View the full article
Global oil demand has proven stronger than expected as the latest coronavirus variant inflicts a softer hit to the economy than anticipated, the International Energy Agency said. View the full article
The gasoline market is painting a picture of tight supplies this summer -- the last thing Joe Biden will want to see as he tries to contain high fuel prices. View the full article
U.S. annual oil production is set to rise to a record next year as shale producers continue to boost output. View the full article
Environmental activists in Argentina are trying to prevent new oil exploration in the resource-rich South American nation just days after forcing a governor in Patagonia to reverse course on silver mining. View the full article
Equinor ASA will make a $1.8 billion impairment on its Mariner field after slashing reserve estimates for the U.K. North Sea oil deposit. View the full article
Liberty Lift announced the asset acquisition of Corral Oil Field Services LLC in Andrews, Texas. Corral is a family-owned and -operated artificial lift company specializing in the service, repair, and sale of pumping units and related artificial lift equipment in the Permian basin. View the full article
OPEC and its allies don’t want crude prices to climb to $100 a barrel, and are reviving production quickly enough to prevent global markets from “overheating,” Oman’s oil minister said. View the full article
Titan Division of Hunting Energy Services announced an exclusive licensing agreement with Nammo Defense Systems Inc. for the manufacture of time delay fuses for Hunting’s perforating applications. View the full article
Oil jumped by the most in month after Jerome Powell’s comments to the Senate Banking Committee appeared to be less hawkish than the Federal Reserve had recently telegraphed. View the full article
Inmarsat, a leader in global, mobile satellite communications confirmed the successful launch of its first Inmarsat-6 satellite, I-6 F1, by Mitsubishi Heavy Industries from the JAXA Tanegashima Space Center in Japan. View the full article
CGG announced phase three of its dual-azimuth multi-client 3D survey in the Northern North Sea. Initial data from the phase three acquisition are expected to be available in early 2023, and final processed data in early 2024. View the full article
China doubled down on imports of Iranian and Venezuelan crude in 2021, taking the most from the U.S.-sanctioned regimes in three years, as refiners brushed off the risk of penalties to scoop up cheap oil. View the full article
Canadian Overseas Petroleum Limited, an international oil and gas exploration, production and development company with operations focused in Wyoming, USA, announced a significant conventional light oil discovery at its Wyoming asset. View the full article
Enterprise Products Partners LP agreed to buy Navitas Midstream Partners LLC from Warburg Pincus LLC for $3.25 billion in cash to add natural gas pipeline and processing assets in the Permian Basin, the world’s most prolific shale basin. View the full article
The U.S. is backing natural gas and low-carbon power sources as it seeks to improve the eastern Mediterranean’s energy ties to Europe and promote stability in the region. View the full article
Employment in the U.S. oilfield services and equipment sector rose by an estimated 7,450 jobs in December, despite the slow hiring in overall U.S. jobs, according to preliminary data from the Bureau of Labor Statistics and analysis by the Energy Workforce and Technology Council. View the full article
Libya’s oil exports, already sharply curtailed following a blockade by paramilitaries in the west, are set to fall further after bad weather closed ports in the east. 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.
