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U.S. manufacturers and other large energy users are starting to lock in natural gas and power costs for at least three years or longer to buffer against price surges this winter, a practice that went out of vogue with the shale boom. View the full article
Oil tumbled as concerns about a global economic slowdown and growing Covid-19 cases in China reduced risk appetite among traders. West Texas Intermediate lost as much as 8% to slip under $96 a barrel. View the full article
Global digital services leader Asset Information Services (AIS), a James Fisher company, announced its business development and account management expansion plans on Monday, which includes new hires in key global regions for its rapidly growing customer base. View the full article
UK oilfield service provider Petrofac Ltd. must pay a $95 million penalty by a London judge for failing to prevent bribery between 2011 and 2017. View the full article
Libyan Prime Minister Abdul Hamid Dbeibah said the country’s crude exports are on track for full resumption after months of outages as he justified his replacement of the state-run oil company’s leadership. View the full article
Inmarsat has secured a contract for its new Fleet LTE service, covering the connectivity needs of several Solstad Offshore North Sea vessels. View the full article
U.S. crude exports rose to a record as European refiners rushed to stock up supplies ahead of a ban on Russian imports. View the full article
Improving the imaging of the geology offshore Oman is both resolving uncertainties in the thrusts and fold belt plays and imaging the hitherto illusive stratigraphy below the decollement surface. View the full article
Oil booms typically spark a chase for higher production -- but not this time. All five supermajors have kept their capital expenditure budgets firmly in check and pledged that this discipline will hold in future years. View the full article
The world’s biggest gas traders and producers are meeting in Dubai this week for the Gastech conference -- the first major in-person event for the industry since the onset of the coronavirus pandemic. View the full article
Equinor has signed a contract with Aker Solutions for front-end engineering and design (FEED) of a floating production and storage vessel for the Wisting field. Valued at around NOK 350 million, the study includes an option for engineering, procurement, construction, and installation calculated at NOK 8-12 billion. View the full article
A House Democrat who’s urging the White House to reduce oil prices by banning exports of U.S. crude oil says he’s been told the idea is under consideration. View the full article
Oil eked out a gain, climbing in tandem with equities, as traders weighed the Federal Reserve’s shift to tighter monetary policy to battle inflation. View the full article
OPEC+ headed for a clash with the U.S. as more members rejected President Joe Biden’s call for the group to raise oil production faster and help reduce gasoline prices. View the full article
The first day of the Energy NL Annual Conference & Exhibition 2022 concluded after important dialogue about the role of the Newfoundland and Labrador energy mix in the energy evolution. 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
The U.S. said Mexico’s nationalist energy policies violate North America’s free-trade deal and has requested dispute-settlement talks under the agreement. View the full article
Among other things, Microsoft is making it possible for Exxon to analyze reams of oil field data. Amazon is helping drillers run simulations to maximize how much oil they can pump from existing wells. 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
The program was first launched in 2020 to test the extent to which mediation can resolve certain disputes between oil and gas licensees, operators and infrastructure owners in the UK Continental Shelf. View the full article
Exxon Mobil Corp.’s multiyear effort to extricate itself from a groundbreaking Iraqi oil deal may hinge on the involvement of one of the world’s biggest frackers. View the full article
The OU team designed and proposed a system to repurpose six abandoned oil and gas wells in Shawnee, Oklahoma, to provide clean, renewable geothermal energy for more than 730,449 square feet of educational and municipal buildings. View the full article
France has joined a group of countries and states that support fixing a date to end fossil fuel exploration, putting its name to an initiative that was snubbed by the UK View the full article
European banks are beginning to drop clients that pose a climate risk rather than face the possibility of higher capital requirements, according to the watchdog overseeing the development. View the full article
Railroad Commission of Texas commissioners approved a proposed sweeping weatherization rule to help protect Texans during weather emergencies that could occur any time of the year. 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.