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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
Oil set its biggest weekly gain in more than three months as the worst fears over the new virus strain have receded. 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
ADNOC Drilling secured $2 billion wroth of contracts from state-owned Abu Dhabi National Oil Company for its Ghasha offshore mega gas project, which ADNOC says is the world’s largest sour gas development. 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
The smallest oil producer in the Persian Gulf is turning to natural gas imports to meet rising energy demand as production from its own deposits slips. View the full article
TotalEnergies and Eni made a significant gas discovery at the Cronos-1 well, in Block 6, offshore Cyprus. This discovery follows the Calypso-1 discovery made on the same Block in 2018. View the full article
Oil rebounded after the U.S. Energy Department said it has no plans “at this time” to tap into the nation’s oil reserves to help quell rising fuel prices. View the full article
Petrobras has awarded Tenaris a four-year contract for the supply of a comprehensive package of products and services for its flagship Buzios deepwater project. View the full article
Executives from Exxon Mobil, Chevron, Royal Dutch Shell and BP were urged by U.S. lawmakers to abandon the leading oil-industry trade group, and cut off funds to any groups sowing doubts about climate science. View the full article
Baker Hughes has announced it is acquiring AccessESP, a provider of advanced technology for artificial lift solutions, to further transform core oil and gas operations by reducing costs and downtime for operators. View the full article
Iran’s seizure of two Greek oil tankers in the Persian Gulf raises the risk of further interruptions to shipments from a region that’s a vital source of global energy supplies. View the full article
Honorees received awards in 18 categories, encompassing the full breadth of the upstream industry. Today’s innovations, many of which would have seemed far-fetched a generation ago, are enabling operators to find and produce hydrocarbons more safely, economically, and efficiently. View the full article
The pandemic had a unique impact on the energy industry and will pave the path of the energy transition on its way to net zero emissions, Society of Petroleum Engineers President Kamel Ben-Naceur said during a keynote presentation at OTC. View the full article
“We see our role as extremely limited,” Saudi Energy Minister Prince Abdulaziz bin Salman said during the CERAWeek India Energy Forum. View the full article
Oil closed the month almost 10% higher after a tumultuous session where China was said to order its top energy companies to secure supplies at all costs, prompting the White House to reiterate its concern over rising prices. View the full article
Neptune Energy has extended a contract for Odfjell Drilling’s Deepsea Yantai drilling rig, to include three additional wells in the Norwegian North Sea next year. View the full article
OPEC+ agreed to make a token oil supply cut for October, a surprise move that shows the alliance is seeking to stabilize global markets after a faltering economic backdrop triggered the longest price rout in two years. View the full article
Wednesday, the Senate approved language calling for Senate negotiators to support the issuance of a new Five Year Program for offshore oil and gas leasing as soon as possible and that the new program should include at least two area-wide lease sales per year. View the full article
Oil hit a fresh high after a U.S. government report showed an unexpected drop in crude stockpiles, allaying concerns that higher prices would blunt demand. View the full article
“It’s hypocritical to kill clean fossil fuel jobs here in America claiming it ensures a clean environment, and then beg our foreign adversaries to produce more using much less environment-friendly methods," Railroad Commission of Texas Chairman Wayne Christian said in a statement. View the full article
Halliburton will collaborate with Energean to economically and safely deliver exploration, appraisal, and development wells offshore Israel. View the full article
A federal judge ruled Brazil’s Petrobras liable in a lawsuit filed by Houston firm IEG Global Energy Partners, finding that Petrobras defrauded EIG in connection with a deal to build and charter 28 oil drilling rigs for work off the coast of Brazil. View the full article
Exxon Mobil Corp. renewed two deepwater leases in Nigeria for 20 years, among the first permits granted under the country’s new oil and gas law. 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.