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U.S. crude futures closed modestly higher after OPEC+’s relatively harmonious decision to gradually raise supply and a bullish U.S. oil inventory report. 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
Pennsylvania is in the final stages of approving a new rule that would crack down on methane emissions from older oil and gas infrastructure, while exempting a vast number of low-producing wells. View the full article
Equinor ASA sold assets in the North Sea for $1 billion as it seeks to benefit from high oil prices and redirect proceeds to other core businesses. View the full article
In response to high interest from submitting authors, the new deadline to submit abstracts is August 8, 2022. The Congress will take place from September 17-21, 2023, in Calgary, Alberta. View the full article
Saudi Arabia told OPEC that it raised its crude production to just over 11 million barrels a day last month, exceeding the symbolic level for the first time in two years as the kingdom fulfilled a pledge to stabilize world markets. View the full article
The Helmerich & Payne drilling rig is being rigged down and transported off location. Production testing equipment will then be mobilized to site. Testing is expected to commence within two weeks and is expected to take less than ten days to complete. View the full article
Yemen's Houthi rebels have stepped up assaults on Saudi Arabia and last week claimed they hit a Saudi Aramco fuel depot in Jeddah with a cruise missile. It wasn’t clear how much damage had been caused. While such assaults rarely result in extensive damage, their frequency has created unease in the Gulf. View the full article
An Arctic cold blast that swept through the U.S. South in February caused a much bigger loss in oil supply than previously estimated, with output falling to a three-year low, according to U.S. government data. View the full article
John Wood Group Plc said it agreed to pay $177 million to settle a UK-led bribery and corruption probe into a British engineering firm it acquired in 2017. View the full article
While a recovery is anticipated year-on-year through 2025, it is expected to be gradual and characterized by operator caution as they navigate several important considerations - pace of global demand recovery, the energy transition, and geopolitics. View the full article
Recently, there have been several reports inaccurately portraying the efforts of the Railroad Commission of Texas to ensure that oil and gas operators are prepared to operate during the next weather emergency. I would like to set the record straight. View the full article
Canada’s oil production could continue to rise for the next decade and then begin declining as countries strive to reduce carbon emissions, the Canada Energy Regulator said Thursday. 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
Employment in the U.S. oilfield services and equipment sector rose by an estimated 4,999 jobs to 633,198 in June, according to preliminary data. View the full article
The Biden administration on Wednesday issued oil and natural gas leases to companies that nabbed the Gulf of Mexico drilling rights in a government auction later invalidated by a federal court. View the full article
This five-year agreement covers a comprehensive range of services, from consulting and concept to detailed engineering, aimed at optimizing and expanding the existing facilities and infrastructure of one of the largest oil and gas condensate fields in the world. View the full article
Futures in London earlier surged above $71 a barrel, the highest since January 2020, before retreating to trade little changed. The assault on a storage tank farm at Ras Tanura on Sunday was intercepted, Saudi Arabia said, and oil output appeared to be unaffected. View the full article
Exxon Mobil Corp. and Chevron Corp. added momentum to a nascent recovery in the U.S. oil industry as they reported bumper cash flow, a dramatic improvement after a torrid 2020. View the full article
Shell, already the operator of the field, has right of first refusal to any sale by BP. As such, its decision to acquire the stake puts an end to BP’s deal to divest the holding to Tailwind Energy Ltd., an explorer backed by trading house Mercuria Energy Group Ltd. View the full article
Taqa wants to divest itself of at least 17 fields plus stakes in the Sullom Voe shipping terminal, and the Brent and SAGE pipelines in the UK In a separate sales process, it is offering 32 Dutch oil and gas licenses, of which five are directly operated by the company. View the full article
The U.S. shouldn’t ban the export of crude oil, a bipartisan group of House lawmakers said in a letter to President Joe Biden. View the full article
Responding to the Queens’s speech, Offshore Energies UK said the proposed Energy Bill must create the predictability needed to attract the long-term investment crucial to boosting the nation’s energy security. View the full article
Suncor Energy Inc.’s chief executive officer stepped down on Friday after a series of fatalities at the company’s oil sands sites shook confidence in its management. View the full article
Using Sonardyne’s proprietary optical and acoustic communications technologies, and drawing on its extensive experience of seabed monitoring, OD OBN expects to provide a versatile, lower cost, more resilient solution for time-lapse seismic and subsidence monitoring of producing reservoirs with better data and the capacity to be placed on the ocean floor for up to five years without human intervention. 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.
