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Crude found support with U.S. consumer prices in May topping forecasts, extending a months-long buildup in inflation that is seen helping spur more interest in alternative assets like commodities to find yield. View the full article
Leveraging an intelligent and dynamic downhole automated control system that instantly interprets and acts on data, Schlumberger continues to advance its digital offering enhancing well construction performance. View the full article
BP paid tax on its UK North Sea business in 2021 for the first time in at least six years, according to the company’s latest payments to governments report. View the full article
Progress toward an Iranian nuclear deal has thrown the spotlight onto a sizeable cache of crude held by Tehran that could be swiftly dispatched to buyers in the event an agreement gets hammered out. View the full article
Contrary to the tone of some news coverage, an analyst at Evercore ISI sees the overnight news that Senator Manchin convened a bipartisan group, together with Senator Murkowski (R-AK), to discuss a bipartisan energy bill, as bad news for the prospects of energy legislation before the midterm elections. View the full article
The Biden administration is considering triggering tougher anti-smog requirements that could curb drilling across parts of the Permian Basin, the world’s biggest oil field that straddles Texas and New Mexico. View the full article
Energy services provider Expro is leading industry efforts to meet environmental targets with the development of a digital technology that can help drilling contractors and operators cut an estimated 146 tons of CO2 emissions annually – the equivalent of 58 transatlantic flights. View the full article
Shale, and not the pandemic, was responsible for the initial oil-market crash of 2020, Pioneer Natural Resources CEO Scott Sheffield said at an industry summit. He added that the cartel, frustrated at U.S. producers’ success in taking market share from OPEC, allowed prices to tumble. View the full article
World consumption will once again reach 100 million barrels a day in the second half of 2022 as developed economies bring the virus under control, the International Energy Agency said, in its first detailed outlook for the year ahead. View the full article
Leveraging an intelligent and dynamic downhole automated control system that instantly interprets and acts on data, Schlumberger continues to advance its digital offering enhancing well construction performance. View the full article
European oil major Shell Plc cautioned that Europe may have to brace for a string of winters with exorbitant power bills and electricity rationing as Russia squeezes gas supplies. 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
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
Equinor announced that starting in 2022 it will submit its energy transition plan for advisory vote to shareholders at its Annual General Meeting. Equinor will update the plan every three years for an advisory vote. Progress on the plan will be reported annually. View the full article
Nordic oil producer Lundin Energy AB is exploring a potential sale that could rank as one of the largest European oil and gas deals in years, people with knowledge of the matter said. View the full article
ExxonMobil announced three new discoveries offshore Guyana which will increase the estimate of the recoverable resource of the Stabroek Block to nearly 11 billion oil-equivalent barrels. 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
The contract is expected to commence in the first half of 2022, with a firm duration of 110 days. The value of the firm contract is approximately USD 34m, including rig modifications and a mobilization fee. View the full article
Chesapeake Energy said three executives are leaving, marking the latest shakeup of the senior ranks at the Oklahoma oil and gas producer since it emerged from bankruptcy four months ago. View the full article
French President Emmanuel Macron said that the United Arab Emirates’ ruler confided to him that OPEC’s two leading oil exporters are already pumping almost as much oil as they can. View the full article
“I’m still a strong believer that demand is going to come back strong, both on airlines and also driving around the world once we get herd immunity,” Pioneer Natural Resources CEO Scott Sheffield said on a conference call Feb. 24. View the full article
The potential sale could include all of Shell’s 260,000 acres in the Permian Basin, Reuters reported citing unidentified people familiar with the matter. Shell declined to comment on Reuters’ report. View the full article
The United States is set to drive North America’s upcoming LNG liquefaction projects count by 2026, contributing around 68% of the total project starts during 2022 to 2026, found GlobalData. View the full article
Exxon Mobil Corp. took the first step toward filing a lawsuit against Russia after Vladimir Putin blocked the oil major from exiting its only remaining operation in the country. View the full article
Key players in the oil market have been talking up the rising prices in the coming months, with some even floating the prospect of $100 crude in the next year or two as the global economy 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.