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The world’s largest independent oil trader expects crude’s rally to continue on the assumption any OPEC+ output hikes will fail to keep pace with growth in demand. View the full article
The record spike in energy prices could hardly have come at a worse time for Europe’s ambitious new climate plan, with politicians just beginning to talk about how they’re going to implement the world’s most sweeping emissions-cutting strategy. View the full article
In the past, environmental activist investors were limited to the odd shareholder proposal, inevitably rebuffed by the boards and management teams. On Wednesday by contrast, shareholders ousted two Exxon Mobil directors seen as insufficiently attuned to the threat of climate change, while Chevron shareholders voted for a proposal to compel the company to reduce pollution by its customers. View the full article
Interior Secretary Deb Haaland suggested a sharply limited role for fossil fuel extraction on U.S. federal lands and waters in her most expansive comments yet on the administration’s overhaul of oil and gas leasing. View the full article
If the first initial public offering of a U.S. shale driller in four years is any indication, Wall Street is still souring on the U.S. oil and gas patch. View the full article
The decision means Canada's most ambitious environmental policy to date, which would see the baseline price on carbon rise to C$170 ($135) per metric ton by 2030, will stand. View the full article
Even if OPEC+ decided to resume phased increases, it would review each step every month, allowing it to hit pause if oil demand growth were to disappoint, according to a delegate. View the full article
The project would be the first of its kind in the Mediterranean, Energean CEO Matthaios Rigas said at a conference Wednesday. View the full article
It’s not the first time India, one of the biggest buyers of the producer group’s crude, has urged the Organization of Exporting Petroleum Countries and its partners to pump more oil. View the full article
Led by $2.59 billion asset transaction with BP Exploration (Epsilon), Middle East and Africa’s oil and gas industry saw a drop of 32.92% in deal activity during Q1 2021, when compared to the last four-quarter average, according to GlobalData’s deals database. View the full article
Rising global oil prices are translating into shortages at the pump in cash-strapped Lebanon, with motorists lining up for hours to fill their tanks in the latest blow to living standards in the Middle Eastern nation. View the full article
Yemen’s Iran-backed Houthi rebels said Friday they attacked Saudi Aramco in the capital Riyadh using six bomb-laden drones, stepping up their offensive on Saudi Arabia’s energy and security installations. View the full article
Joe Biden took a political gamble with his visit to Saudi Arabia last month, courting a kingdom he once vowed to punish in a quest for more oil supplies. This week will reveal whether it paid off. View the full article
Girish Saligram, Weathrford's President and CEO said "We believe this is the right time in our reemergence to relist on the NASDAQ stock exchange and that doing so will enhance long-term shareholder value by improving the Company's visibility, expanding liquidity in our ordinary shares, and providing a broader institutional investor base the opportunity to invest in the new Weatherford." View the full article
“If nothing extraordinary happens, we have already formed our three-month plans,” Russia’s Deputy Prime Minister Alexander Novak told reporters in Moscow on Wednesday, “Our task will be to look at these plans and maybe confirm or adjust them - yet most likely, this is the meeting to assess the current situation,” he said. View the full article
The unprecedented oil inventory glut that amassed during the coronavirus pandemic is almost gone, underpinning a price recovery that’s rescuing producers but vexing consumers. View the full article
Oil production across American shale patches next year is expected to climb as producers take advantage of a price recovery, according to a government report. View the full article
An upstart driller in Mexico aims to provide 10% of the country’s natural gas needs as it develops prospects south of Texas’s border. View the full article
Phillips 66 may idle a New Orleans-area refinery that suffered so much damage during Hurricane Ida that repairs may be too costly, according to people familiar with the operation. View the full article
Salunda Limited announced an exclusive license agreement with Transocean to make, develop and sell HaloGuard®, the offshore drilling industry’s first safety system that integrates camera and sensor technology with drilling equipment and machine controls. View the full article
In a weekly online briefing during Thursday, DTEK CEO Maxim Timchenko discussed the progress made in rebuilding Ukraine’s energy and electricity infrastructure. He provided an update on energy sector operations and restoration of electricity supply amid the Russian invasion View the full article
Futures in New York jumped 5.9% on Wednesday, just about erasing the prior session’s price plunge that pushed futures to the lowest since early February. A U.S. inventory report showed domestic fuel consumption is at the highest in four months and Gulf Coast refiners are increasing their appetite for crude. View the full article
The world’s biggest crude exporter is boosting April pricing for crude exports eastwards to the highest levels since just before the Saudis unleashed a brief price and supply war a year ago. View the full article
President Joe Biden’s effort to tame pump prices by tapping government oil stockpiles could backfire for one simple reason: American gasoline prices more closely track international, rather than U.S., oil benchmarks. View the full article
Honeywell is launching its gas cloud imaging system in Europe to provide automated and continuous monitoring for leaks of dangerous and polluting gases such as methane at oil and gas, chemical and power generation facilities across the continent. 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.
