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The Biden administration has ordered an immediate halt to new federal support for coal plants and other carbon-intensive projects overseas, a major policy shift designed to fight climate change and accelerate renewable energy worldwide. View the full article
The number of original drilling permits issued by the Railroad Commission of Texas in April 2022 rose 29% to 946, compared to the year-ago figure of 732. View the full article
Nigeria’s state energy company won a court decision temporarily blocking Exxon Mobil Corp. from selling assets in the country to Seplat Energy Plc. View the full article
Democratic Senator Joe Manchin is enlisting the help of energy-industry executives to marshal Republican support for his plan to speed up the process of getting federal approvals for energy projects, according to people familiar with the matter. View the full article
Preliminary evaluation of the offshore gas condensate discovery indicates gross recoverable resources in the range of 16-38 million barrels of oil equivalent (MMboe) with a mean of 25 MMboe, well above predrill estimates. Just over half of the resources were encountered in the Middle Jurassic primary target, and the balance in the Upper Jurassic secondary target. View the full article
Saudi Arabia’s push to restrain oil supply to buoy prices is spurring India to speed up plans to diversify its crude sources and pursue alternative energy, the chairman of one of the nation’s biggest refiners said. View the full article
Six senior executives of Citgo Petroleum Corp. who have been detained by the Venezuelan government since 2017 were transferred from prison to house arrest, according to a person familiar with the matter. View the full article
Highwood Equipment Technologies Inc. is transporting two of the world’s most advanced automated well service rigs to the Sultanate of Oman. View the full article
The U.S. Department of Energy has authorized Exxon Mobil Corp. to receive crude from the Strategic Petroleum Reserve to kickstart the production of fuels while most oil production in the Gulf of Mexico remains shut. View the full article
Oil slid by the most since August, falling from overbought territory amid concerns around global economic growth. View the full article
The budget bill for Iran’s next calendar year is based on an oil price of $60 a barrel, up from $40 this year, the semi-official Fars news agency reported. View the full article
The European Union’s executive arm is set to bolster renewables and energy savings goals as part of a 195 billion-euro ($205 billion) plan to end its dependency on Russian fossil fuels by 2027. View the full article
Petrobras has awarded Tenaris a four-year contract for the supply of a comprehensive package of products and services for its flagship Buzios deepwater project. View the full article
Shell Plc Chief Executive Officer Ben van Beurden will step down at the end of this year after almost 40 years at the company, to be replaced by the firm’s head of gas and renewables, Wael Sawan. View the full article
Block 49 and Block 50 are Chevron’s first operated assets outside the Cabinda concessions and are near other productive offshore concessions, like Block 17. Post exploration, these new blocks are expected to yield substantial returns and enhance Angola’s portfolio of ultra-deepwater assets. View the full article
Heavy maintenance work on North Sea oil fields in the coming months is helping to erode the flow of crude to Asia from some suppliers in the Atlantic basin as a key price spread between the two regions balloons. 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
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World Oil reached out to Noble Corporation, owner of the drillship, for further comment. This afternoon (Thursday, Sept. 2), we received further explanation from Noble’s Vice President, Investor Relations, and Treasurer, Craig Muirhead. View the full article
Oil swung between gains and losses as traders weigh the ongoing impact of a global energy crunch and dwindling inventories at a key U.S. storage hub. View the full article
Oil driller Hilcorp Energy Co. is lavishing $75,000 bonuses on employees as reward for reaching multi-year expansion and production goals. View the full article
Libya’s parliament-backed prime minister said closed oil fields and ports in the OPEC country may soon reopen, though his rival’s energy minister said negotiations with protesters were proving difficult. View the full article
Even if Joe Biden secures a pledge for more oil when he visits Saudi Arabia this week, it may do little to drive down the high fuel prices roiling the global economy. View the full article
TechnipFMC has been awarded a significant engineering, procurement, construction and installation contract by TotalEnergies for its Lapa North East field in the pre-salt Santos Basin offshore Brazil. View the full article
The Helideck Operations Initial Training (Americas) and Helideck Operations Emergency Response and Aviation Fuel Management Awareness standards were designed and updated specifically to reflect legislation and operational differences in the region and are now being rolled out after a successful pilot. 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.
