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It is estimated that ESG has taken 90% of investments off the table for reliable energy over the last five years. View the full article
Inflation in the oil sector is worsening and industry executives see no reason to expect cost pressures on everything from steel pipe to frac sand to ease any time soon. View the full article
Fossil fuel companies should face probes on whether they’re using “loophole-ridden” environmental, social and governance goals to boost executive pay while contributing to environmental destruction, Senator Elizabeth Warren said, adding to her calls to rein in CEO compensation. View the full article
The study found that enabling open markets increased oil and natural gas development in America, which, over the six-year period, reduced global oil prices by an average of $1.93 per barrel. View the full article
In a move to enhance transparency and make Texas Railroad Commission documents more widely available to the public, the agency recently completed a project to place all historic oil and gas production records online. View the full article
Europe can reduce energy dependence on Russia quicker than previously estimated, Mario Draghi said in an interview with Corriere della Sera. View the full article
“Oil is seeing a continued loss of momentum, with sentiment taking a knock,” said Ole Hansen, head of commodities research at Saxo Bank A/S. “Most importantly, worries about the short-term demand outlook as governments respond to a surging delta variant” are weighing on the market. View the full article
Spears & Associates Managing Director Richard Spears’ talk, titled, How extreme financial discipline impacts drilling activity in 2022 and 2023, outlined what has caused oil companies to display uncharacteristic financial restraint, despite surging oil prices. View the full article
Amid the rusted remnants of Venezuela’s once-mighty oil industry, a motley crew of obscure drillers has achieved a feat few thought possible: It’s more than doubled the country’s crude production in the space of a year. View the full article
A4I gives UK companies of any size access to the UK’s top scientists and most advanced facilities, techniques and technologies in the world. It aims to boost productivity and competitiveness by helping companies to solve problems in innovative ways. View the full article
Swagelok Company, a solutions provider of fluid system products, assemblies, and related services, is marking its 75th year in business by expanding its workforce on Cleveland’s west side through the addition of positions in its existing Strongsville facility and the purchase of an existing, 135,000-square-foot building in Valley City, Ohio. View the full article
Ecuador’s oil production is likely to halt completely within 48 hours if road blocks and vandalizing of oil wells continue, the Energy Ministry said in an emailed statement. View the full article
Brazilian President Jair Bolsonaro said Thursday that he wants to privatize Petrobras, the state-controlled oil company that is under political pressure to lower fuel prices. View the full article
With six blocks under exploration and another licensing round underway, The Gambia is following on the heels of both Senegal and Mauritania as the MSGBC region embraces the boom of a revitalized oil and gas industry. View the full article
After extensive repairs and improvement work, Norway’s Hammerfest LNG is back in production after the fire in September 2020, Equinor announced. The first LNG is now on tank at Melkøya. View the full article
NOIA President Erik Milito said the Department of the Interior’s announcement that two Calls for Information and Nominations for possible offshore wind leasing areas offshore Oregon and in the Central Atlantic will be published in the Federal Register is welcome news. View the full article
KCA Deutag announced it has signed a Sale and Purchase Agreement to acquire Saipem SpA’s onshore drilling business for a total consideration payable at closing of $550 million in cash and 10% equity interest in the group. View the full article
Oil rallied after a U.S. industry report showed another big draw in crude inventories, pointing to a tightening market, and China’s central bank added liquidity to quell concern about a major developer’s debt woes. View the full article
Oil rose with the shutdown of Libya’s biggest oil field in an already under-supplied market overshadowing signals that China’s lockdowns are weighing on its economic growth. View the full article
OPEC and its allies may re-evaluate plans for reviving oil supplies if the world’s four largest consuming countries go ahead with a coordinated release of their strategic petroleum reserves. View the full article
Aquaterra Energy has secured a multi-million-dollar agreement with a supermajor to deliver multiple Sea Swift platforms over a three-year period. The platforms will be destined for off the coast of the Cabinda Province, offshore Angola. View the full article
Saudi Arabia’s finance minister echoed warnings from the kingdom’s oil officials that a slowdown in fossil-fuel investment globally will cause spikes in energy prices. View the full article
Asia’s relentless buying of liquefied natural gas earlier this year has left the region so well stocked for winter that spot shipments are being diverted to energy-hungry Europe. View the full article
A global energy crisis has sent prices for gas and coal soaring around the world, and this has turbocharged the recovery in benchmark London- and New York-traded oil futures, Bank of America Corp. analysts including Francisco Blanch wrote in a note. View the full article
Noble and Maersk Drilling share a strong conviction about the compelling industrial logic for taking this step to create a differentiated offshore drilling company with the scale, capabilities, and resources to successfully serve a broad range of customers. 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.