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Oil in the U.S. rallied above $85 a barrel for the first time since 2014, another landmark in a surge in global energy prices, while an eye-watering rally in market structure deepened. View the full article
Murphy Oil Corp. has begun producing oil from a new deepwater Gulf of Mexico project, months ahead of schedule. View the full article
Saudi Arabia reduced oil prices for its main buyers, a day after OPEC+ sent crude futures surging by sticking to a plan for slow and steady supply increases. View the full article
SBM Offshore has been awarded contracts to perform front end engineering and design for an FPSO for the Yellowtail development project. The FEED contract award triggers the initial release of funds by ExxonMobil’s subsidiary Esso Exploration and Production Guyana Limited to begin FEED activities and secure a Fast4Ward hull. View the full article
West Texas Intermediate lost as much as 6.9% to slip under $97 a barrel as Wall Street traded lower and the dollar rose, making commodities priced in the currency more expensive. View the full article
Apache Corporation has ended routine flaring in its U.S. onshore operations, achieving one of its 2021 ESG goals three months ahead of schedule. View the full article
Concerned about the growing safety risk posed by corrosion and other structural integrity issues associated with the global floating production fleet, American Bureau of Shipping pulled together an industry working group 18 months ago. View the full article
European natural gas futures jumped, extending their rebound from last week’s slump, as shipments from Russia fell. View the full article
Qatar has ordered six liquefied natural gas ships from South Korea as it pushes ahead with a multi-billion dollar project to boost production of the fuel. View the full article
President Joe Biden is preparing to announce a release of oil from the nation’s Strategic Petroleum Reserve in concert with several other countries as soon as Tuesday, according to people familiar with the plan. View the full article
New figures show domestic gas production in the first half of 2022 was 26% higher than the same period in 2021, which is enough to heat almost 3.5 million UK homes for a year. View the full article
Climate policy is a hot topic in the oil and gas industry, with the theme ‘Climate Change’ mentioned over 210,000 times in GloblaData’s Filing Analytics database of global oil and gas company filings in 2020 and 2021 combined – a 41% increase from the 2018-2019 period. View the full article
The U.S. may be heading into winter with the lowest stockpiles of heating oil to meet surging demand in more than two decades. View the full article
The partnership leverages the two businesses’ recent collaboration in the development of the OFG AUV non-contact integrated Cathodic Protection (iCP) inspection system, and enable the sharing of resources on several pipeline inspection and geohazard surveys. View the full article
The largest U.S. natural gas driller is using the global energy crisis to renew his call for more investment in domestic infrastructure such as pipelines, which he says will enable increased exports and ease shortages. View the full article
The 23rd World Petroleum Congress program concluded strongly Wednesday, with high-level discussions on collaboration within the industry and the changes needed going forward, as well as special events including a discussion of Houston’s role in leading the energy transition. View the full article
Kazakhstan expects its main oil-export route via Russia to restore full operations in late April, but remains concerned about the possible impact of Western sanctions or shipping problems on the flow of crude. View the full article
Neptune Energy has begun an infill drilling campaign at its operated Cygnus gas field in the southern North Sea, with the potential to unlock enough gas to heat an additional 200,000 UK homes per year from this winter. View the full article
Saudi Arabia’s energy minister warned traders against shorting oil prices, saying OPEC+ could react quickly to any fall in prices. View the full article
Oil’s bumper rally cooled after an increase in U.S. crude inventories and as industrial commodities retreated. View the full article
The U.S. is talking to other energy-consuming nations about how to press OPEC+ to boost output to address the current supply crunch, a senior U.S. official told reporters in Rome. View the full article
A consortium of TotalEnergies, Corio Generation and Qair has been pre-selected by the French Directorate General for Energy and Climate to participate in a competitive tender to develop two floating windfarms in the Mediterranean Sea. View the full article
The Spanish engineering company Saitec has announced its interest in developing a pre-commercial pilot park with 5 units and a total potential of 50MW in the Mediterranean Sea in 2025. View the full article
For over 20 years, the World Oil Awards have recognized and honored the upstream energy industry’s leading innovators and innovations and recognized changes in technology that have made a lasting impact. Nominations for this year's awards will be accepted through this Saturday, July 9, at midnight CST. View the full article
Chevron Corp. wants more control over the oil it produces in Venezuela, a move that would help the driller boost output and recover debt if the US eases sanctions amid a global fuel crunch. 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.
