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China is renewing restrictions and canceling flights as a Covid-19 resurgence in Asia’s top oil consumer sends jitters across the crude market. View the full article
By leveraging the combined strengths of their digital oilfield solutions, the partnership provides a single, unified solution to accelerate innovation and optimize every completions operation. View the full article
Azerbaijan, which has the presidency of the 29th United Nations’ Conference of the Parties, exported almost 24 Bcm of natural gas in 2023 with half of the volumes going to Europe, according to Energy Ministry data. View the full article
The UK won’t join an alliance of countries fixing a date to phase out fossil fuel production, in a move that calls into question the COP26 host nation’s climate leadership. View the full article
The UK, the U.S. and 18 other nations are signing a joint statement committing to end funding for foreign oil, gas and coal projects by the end of next year, while prioritizing support for clean energy, according to people familiar with the matter. View the full article
Signing the pledge, being released at the COP26 climate summit Tuesday, would amount to shared recognition of the problem posed by the potent greenhouse gas — not a “burden” to cut individual emissions, America’s climate envoy John Kerry said. 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
The Biden administration is launching an assault on methane Tuesday, advancing initiatives across government - and the globe - to keep the potent, heat-trapping gas from escaping landfills, oil wells and farms. View the full article
ConocoPhillips and Diamondback Energy both got a boost from surging natural gas prices in the first quarter, as a February deep freeze in the central U.S. stoked demand for the heating and power-plant fuel. View the full article
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 project is expected to achieve a peak production of approximately 18,100 boed day in 2026, and the oil property is light crude. It is the first oil field in the South China Sea supplied with onshore power. 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
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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.