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A bipartisan pair of senators is pressing the Biden administration to use secondary sanctions to enforce a cap on the price of Russian oil. View the full article
Futures in New York climbed above $65 a barrel, while the U.S. currency was trading lower. Gasoline inventories have declined more than 25 million barrels in the last two weeks, while a measure for consumption expanded last week to the highest level since November. View the full article
The Board of Frontier, the privately held Houston-based international gas exploration company with a focus on Southern Africa, said its activities in Namibia are continuing to exceed expectations. View the full article
A preliminary deal struck on Thursday to increase oil production by 400,000 barrels per day was thrown into chaos when the United Arab Emirates threatened to block the deal without a higher output quota for itself. View the full article
Exxon Mobil Corp. will offer some of its Permian Basin shale gas for certification by a nonprofit that assesses methane leaks, a move that comes as the oil industry faces unprecedented pressure to clamp down on emissions. View the full article
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Shell New Energies US, a subsidiary of Royal Dutch Shell, has signed an agreement to buy 100% of Savion LLC, a large utility-scale solar and energy storage developer in the United States, from Macquarie’s Green Investment Group. With this acquisition, Shell expects to significantly expand its global solar portfolio. View the full article
The North Sea Transition Authority, formerly known as the UK Oil & Gas Authority, published its Corporate Plan outlining how it will support the industry for the next five years. View the full article
Overall, Q2 was a challenging quarter for negotiating deals as volatility roiled both commodity and equity markets. Despite that, about $12 billion was transacted in upstream M&A. View the full article
Tellurian Inc. withdrew a $1 billion high-yield bond sale, leaving the future of its U.S. natural gas export project in limbo. The stock plunged more than 24%. View the full article
Expro Group and Frank's International announced a definitive agreement under which the companies will combine in an all-stock transaction. Upon the closing of the transaction, Expro shareholders will own approximately 65% of the combined entity, with Frank's shareholders owning approximately 35%. View the full article
As the Biden Administration aims to significantly increase federal investment in renewable energy under the American Jobs Plan, the United States already ranks as the most attractive market for renewables investment, according to results from a new ranking by IHS Markit. View the full article
By ensuring an enabling environment for investors backed by a transparent and strengthened regulatory framework, the Petroleum Industry Bill will present significant investment opportunities for both regional and international stakeholders. View the full article
Aker Solutions, Siemens Energy and Doosan Babcock have formed a consortium which will see the three companies draw upon more than 450 years of combined experience to develop technology and solutions for the growing UK carbon capture, utilization and storage market. View the full article
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The European Union is planning a hard deadline to end long-term contracts to import natural gas as part of its green shift, a setback for top supplier Russia. View the full article
In a weekly online briefing on Thursday, May 12, DTEK CEO Maxim Timchenko discussed Ukraine’s energy security. He provided an update on energy sector operations and restoration of electricity supply amid the Russian invasion. View the full article
OPEC producers will need to pump crude at the fastest pace in five years in 2023 if they are to balance oil supply and demand. Capacity constraints suggest they may struggle. View the full article
Schlumberger and Aramco have announced plans to collaborate and develop a digital platform that will provide sustainability solutions for hard-to-abate industrial sectors. View the full article
Total and Microsoft have agreed to collaborate as strategic partners to further digital transformation and support progress toward net-zero emissions. View the full article
Tuesday, the Texas Legislature passed two critically important bills that allow Texas to fight national efforts to eliminate fossil fuels. View the full article
TC Energy will be seeking to recover more than US$15 billion in damages that it has suffered as a result of the U.S. Government’s breach of its North American Free Trade Agreement (NAFTA) obligations, the company said in a statement. View the full article
Focused on driving sustainability in the region through digital transformation, the partnership will help enable AVEVA to establish their largest digital hub, with an RandD capability, in the Middle East, headquartered in Saudi Arabia. View the full article
Negotiations over the climate provisions in the Democrats’ spending bill have accelerated and are focused on a package of measures that could replicate the emissions reductions of a clean energy plan dropped from the draft legislation. View the full article
President Joe Biden’s energy chief extended an olive branch to the oil industry Tuesday, telling executives a crude export ban is not under consideration, while assuring them that the administration was “not a bogeyman.” 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.