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The move expands ConocoPhillips’ footprint in domestic shale fields from Texas to North Dakota and hands the company reserves as far afield as Equatorial Guinea. It adds to a wave of recent megadeals as producers seek new drilling sites on a bet that oil and gas demand will remain robust for years to come. View the full article
ConocoPhillips’s $9.5 billion deal to buy shale assets from Royal Dutch Shell Plc will boost the amount of carbon the company pumps into the atmosphere. Yet the company says the pact will actually allow it to reach one of its climate goals faster. View the full article
ConocoPhillips is marketing its Williston Basin oil assets for a potential sale, according to people with knowledge of the matter. View the full article
“This deal was justified on three key merits: it meets our rigorous cost of supply framework, we see a way to drive efficiencies from the assets, and the transaction makes our 10-year plan better,” said Ryan Lance, ConocoPhillips chairman and CEO. View the full article
ConocoPhillips beat estimates as rising commodity prices led America’s biggest independent oil producer to the highest profit in nearly three years. View the full article
The Democratic Republic of Congo’s plan to auction oil exploration blocks next month threatens to disrupt some of the world’s most important carbon sinks and could jeopardize a $500 million forest preservation agreement. View the full article
Bonanza Creek Energy Inc. and Extraction Oil and Gas Inc. -- which announced a merger last month and a plan to rename the combined entity Civitas Resources Inc. -- said Monday they’re buying closely held Crestone Peak Resources LLC. Crestone investors will get 22.5 million shares of Bonanza, according to a statement. All three companies operate in the Denver-Julesburg Basin. View the full article
The largest gasoline pipeline in the U.S. is returning to service following a cyberattack that took the fuel artery offline for five days, offering hope that fuel shortages in several states will soon come to an end. View the full article
Colombia is targeting oil productiton of 1 MMbpd by pressuring drillers to step up activity in underused exploration blocs, according to the nation’s top energy official. View the full article
Oil majors are gearing up to explore off the coast of Colombia, offering hope to a country struggling to reverse declines in reserves and output of its biggest export. View the full article
The report, Connected Digital Twin Insights: Rising to the Challenge across the UK Energy Sector and Beyond, explores the opportunities, benefits, barriers, and risks of connected digital twins in the UK energy sector and looks for the answer to a fundamental question – “How can I trust my digital twin?” View the full article
The contracts were signed for a total of five blocks, S6-A, S6-B, A6-D, A6-E and A6-G, all located offshore Mozambique. The total area is approximately 29,000 km2, with water depths from 500 to 2,500 m. View the full article
The offshore project in eastern South China Sea, with an average water depth of approximately 89 m, will be developed by leveraging the existing production facilities. The project is expected to achieve a peak production of approximately 5,300 boed in 2025. View the full article
Much of the progressives' anxiety around the $1T infrastructure bill has coalesced around support for carbon capture. Last month, hundreds of climate groups wrote an open letter calling on Biden to reject carbon capture as a “dangerous distraction” to eliminating fossil fuels entirely. 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
Collectively, the bill would “hurt American energy producers and drive up energy costs for the American people,” said Anne Bradbury, chief executive officer of the American Exploration and Production Council. View the full article
While Arjuna Capital had already withdrawn the shareholder proposal to accelerate greenhouse-gas emissions cuts that was at issue in the lawsuit, the firm went further in a letter that was sent to Exxon and filed with a Texas court, saying it “unconditionally and irrevocably” promised not to submit any more proposals related to emissions or climate change to Exxon shareholders. View the full article
Bottlenecks in the global supply chain threaten to drive up renewable-power costs, reversing a decade-long trend that made wind and solar mainstream. View the full article
Clariant’s Oil and Mining Services business has officially opened its new, state-of-the-art Eagle Ford Technology, Sales and Operations Center near San Antonio, TX. View the full article
Citigroup Inc. more than doubled its Asian and European natural gas forecasts for next quarter and said prices could surge to as high as $100 per million British thermal units in the event of a particularly cold winter. View the full article
China may be forced to start buying crude at elevated prices to replenish its thinning crude stockpiles, adding more pressure to a nation that’s facing energy shortages and seeking to avert a diesel crisis. View the full article
China’s first auction of oil from its strategic reserves looks relatively paltry, but the possibility of further releases is still likely to exert a powerful influence on global crude prices. View the full article
One of the fastest-growing corners of China’s energy market is facing a potentially devastating blow as Xi Jinping’s government increases scrutiny of high-emission fuels. View the full article
Since 2019, China has snapped up an additional 850,000 bpd of so-called NGLs and polymers, the IEA said in its Oil 2024 report, which is effectively the agency’s medium-term outlook. That accounts for just over half of demand growth for all oil products over the period. View the full article
China aims to have non-fossil energy consumption exceed 80% of its total mix by 2060, when the world’s second-biggest economy plans to be carbon neutral, according to guidelines published by the official Xinhua News Agency. 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.
