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Stern warnings from U.S. and European officials suggest the window is closing on nuclear talks with Iran, with frustration boiling over after two weeks of negotiations marred by allegations of Iranian backsliding. View the full article
Oil drillers in the biggest U.S. fields are shouldering record costs at the same time that some banks are increasingly reluctant to loan money to the sector, according to the Federal Reserve Bank of Dallas. View the full article
Abu Dhabi National Oil Company (ADNOC) announced a second discovery of natural gas resources in the first exploration well in Abu Dhabi’s Offshore Block 2 Exploration Concession, operated by Eni. View the full article
Maersk Drilling extended a drilling agreement with Aker BP ASA in a $1 billion five-year contract, securing a major revenue source. View the full article
An oil pipeline capable of hauling 180,000 barrels a day across Nigeria has ceased transporting crude since mid-June due to theft, according to a person familiar with the information. View the full article
Shell Plc won official consent to develop the Jackdaw natural gas field in the UK’s North Sea, eight months after the country’s regulator blocked the project on environmental concerns. View the full article
Oil in New York held above $80 a barrel on expectations that a power crisis from Asia to Europe will continue to lift demand, prompting banks to boost their price forecasts. View the full article
OPEC+ is more than half a billion barrels behind on its pledge to supply world markets with oil, exacerbating concerns about the group’s ability to balance the global market. View the full article
The Biden administration plans to slash the amount of biofuel that must be mixed into gasoline and diesel, according to people familiar with the matter, dealing a blow to ethanol producers and the agriculture industry. View the full article
Oceaneering International’s Integrity Management and Digital Solutions segment has won a new multi-year contract in Papua New Guinea with a major operator. View the full article
Oil output in the Permian Basin is projected to hit a record as the largest U.S. shale patch leads the recovery in domestic production from its Covid-19 induced slump. View the full article
Environmentalists are calling on the Biden administration to crack down on methane leaks from low-producing U.S. oil wells, after new research shows they are releasing a disproportionate share of the potent greenhouse gas. View the full article
Europe’s industrial sector has started to cut demand for natural gas, as record prices have made the fuel prohibitive for many consumers. View the full article
The U.S. is likely to ask OPEC member states to pump more crude to help ease a surge in energy prices, according to oil historian Daniel Yergin. View the full article
The Group of Seven urged OPEC to pump more oil, even as it made new pledges to try to fight climate change. View the full article
President Joe Biden faces growing pressure from fellow Democrats to address rising gasoline prices by taking steps that include a possible ban on oil exports and the release of crude from the nation’s strategic reserves. View the full article
Nigeria’s energy regulator overruled President Muhammadu Buhari’s approval of a $1.28-billion purchase of Exxon Mobil Corp. assets, in a high-profile disagreement that may discourage investment in the country’s struggling oil and gas industry. View the full article
Oil’s latest upswing has come with a flurry of bullish price predictions from banks and traders, forecasts for surging demand this winter, and speculation that the industry isn’t investing enough to maintain supplies. View the full article
Russia will find new buyers for its oil, natural gas and coal both at home and abroad as some traditional customers reject its deliveries, said President Vladimir Putin. View the full article
This Northern North Sea study, available for license, provides an in-depth review of potential CO2 storage plays in a region extending over CGG’s North Viking Graben 3D seismic dataset, including areas in both UK and Norwegian waters. View the full article
Big swings in the price of oil derivatives signaled that U.S. crude supply is getting tighter, adding another dimension to the volatility that’s gripping energy markets. View the full article
The reimagined, field proven Simplified Frac Iron System transforms the typically disjointed process inherent with conventional ground iron. View the full article
Chevron has signed an agreement with the government of Equatorial Guinea for Block EG09, located in the Douala basin on the border of Cameroon. View the full article
“These discoveries are part of an extensive well program in the Stabroek Block utilizing six drillships to test play extensions and new concepts, evaluate existing discoveries and complete development wells for the Liza Phase 2 and Payara projects,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. View the full article
House Democrats are investigating the role major oil companies and their trade groups are alleged to have played in misleading the public on the role of fossil fuels in causing global warming. 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.