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Government climate policies and the transition away from fossil fuels are not to be blamed for the energy crisis ravaging Europe and Asia, according to the International Energy Agency. View the full article
Less than 15% of the $2.4 trillion in government spending to support the post-pandemic economic recovery has gone to investments in clean energy, according to the International Energy Agency. View the full article
The IEA cut forecasts for world oil consumption in 2021 by 200,000 barrels a day as the pandemic continues to limit travel and economic activity. It boosted projections for supplies outside the OPEC cartel by 400,000 barrels a day as a price recovery spurs investment. View the full article
“Much greater resources have to be mobilized and directed to clean energy technologies to put the world on track to reach net-zero emissions by 2050,” said Fatih Birol, the IEA’s executive director. Among other milestones, the IEA's 2050 plan depends on all new oil and gas exploration worldwide being halted several weeks ago. View the full article
A “big chunk” of U.S. shale is profitable at current oil prices, but drillers should be aware of crude’s declining share in the future global energy mix, International Energy Agency Executive Director Fatih Birol said in an interview. View the full article
The International Energy Agency called on Russia to supply more natural gas to Europe, saying the energy crunch was an opportunity for the country to show it’s a “reliable supplier.” View the full article
Energy producers -- not the transition to a greener economy -- are a key reason for soaring natural gas and power prices in Europe, according to International Energy Agency Executive Director Fatih Birol. View the full article
The agreement formalizes a closer working partnership between the two businesses, following the formation of a strategic alliance in 2019 when Hunting and Jindal began cooperating to develop their presence in the rapid growth OCTG market in India. 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
Hungary is one of the EU nations most reliant on Russia for energy, and has seen the cost of oil and gas imports soar to an estimated $19 billion this year from $4 billion in 2019, according to government data. View the full article
Hungary told its European Union counterparts that it will cost at least 770 million euros ($810 million) to revamp its oil industry as they wrangle over potential sanctions that would target Russian supplies. View the full article
MCE Deepwater Development returned to its in-person conference in London this month. By all accounts, it exceeded its goal of bringing together technical experts from across the global industry. View the full article
By securing the additional fabrication facility, HSM Offshore Energy is positioning itself to meet the increasing demand in the offshore renewable market, focusing on the offshore wind, gas, carbon capture and storage (CCS) and hydrogen segments in the North Sea and Baltic Sea. View the full article
As oil prices continue to linger around the $100-plus/bbl price, mergers and acquisitions in the sector have been pushed to a three-year high, as well as private equity deals that may experience a record year. View the full article
Long recognized as a pillar of U.S. energy production, deepwater Gulf of Mexico could help provide the resources the world needs during the energy transition. Restricting supplies of fossil fuels may seem like an answer. But society needs affordable energy sources until the net-zero goal is met. View the full article
The Yemeni rebels launched missiles at a Saudi Aramco facility in the refinery city of Jazan, and other targets including a site housing Patriot air-defense missiles, the group’s Al-Masirah TV reported. The Houthis said they used explosive-laded drones and 11 missiles. View the full article
The American Petroleum Institute (API) released a statement from Executive Vice President and Chief Advocacy Officer Amanda Eversole applauding the U.S. House of Representatives for protecting American consumers by passing a resolution to prevent EPA’s light- and medium-duty tailpipe emissions rule from being implemented. View the full article
House Republicans plan to unveil their own plan to fight climate change later this month, according to three people familiar with the matter, a reflection of the pressure on the party to come up with solutions to a problem it had previously denied or ignored. View the full article
Horisont Energi and Neptune Energy announced the signing of a Memorandum of Understanding to develop the Errai Carbon Capture and Storage project in Norway. View the full article
Two months after negotiators left Vienna, expectations are fading that Iran nuclear talks will resume, leaving the world with the remains of an agreement no one’s willing to pronounce dead. View the full article
Honeywell’s new holistic offering will encompass natural gas pre-treatment and state-of-the-art liquefaction, utilizing digital automation technologies unified under the Honeywell Forge and Experion platforms. This full-service solution will enable efficient, reliable and optimized management of natural gas assets. View the full article
Honeywell is launching its gas cloud imaging system in Europe to provide automated and continuous monitoring for leaks of dangerous and polluting gases such as methane at oil and gas, chemical and power generation facilities across the continent. View the full article
Honeywell’s Emissions Management Suite is now Hazardous Location (HazLoc) and marine certified, making it one of the industry’s first end-to-end solutions for offshore oil and gas assets to measure, monitor, report and reduce emissions. View the full article
The unprecedented oil inventory glut that amassed during the coronavirus pandemic is almost gone, underpinning a price recovery that’s rescuing producers but vexing consumers. View the full article
In a move to enhance transparency and make Texas Railroad Commission documents more widely available to the public, the agency recently completed a project to place all historic oil and gas production records online. 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.