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More than 100 people died in an explosion at an illegal oil refinery in southeastern Nigeria over the weekend, demonstrating the dangers associated with an illicit industry that thrives in the crude-producing region. View the full article
Oil rebounded from another sharp drop as OPEC ministers prepared to meet amid booming volatility. View the full article
Oil rose higher on Monday following an eighth weekly gain, spurred on by the energy crunch as winter approaches. View the full article
OPEC and its allies once again failed to pump enough oil to meet their output targets, exacerbating the supply deficit as the world recovers from the coronavirus pandemic. View the full article
Baker Hughes launched a new subsea wellhead technology, the MS-2 Annulus Seal, to save substantial operational rig costs by helping lower overall wellhead installation costs due to reduced rig trips. View the full article
Maersk Drilling has spearheaded an effort to develop a first-of-a-kind product to support digitalization of offshore drilling processes. The solution, known as RigFlow, has now been segregated into the digitally focused company named Horizon56 A/S to drive further development and commercialization. View the full article
European Union energy ministers are set for another spat over how to cushion consumers and companies from soaring power and natural gas prices, with political and legal constraints leaving little room for immediate action. View the full article
Abu Dhabi National Oil Co. plans to build a new liquefied natural gas plant as the world’s producers race to expand their exports amid surging demand. View the full article
Canada’s export credit agency is targeting a 15% cut to its financing portfolio for upstream oil and gas production by 2030. View the full article
ADNOC and TAQA announced a $3.6 billion strategic project to significantly decarbonize ADNOC’s offshore production operations, further strengthening ADNOC and TAQA’s position in driving and leading sustainability efforts and supporting the UAE’s ‘Net-Zero by 2050 Strategic Initiative’. View the full article
Shell Plc is set to follow other Western energy majors by taking a stake in a $29 billion project to boost Qatar’s exports of liquefied natural gas, just as Europe races to shore up new supplies of the fuel. View the full article
Enbridge Inc. is evaluating two tolling options for its vast Mainline oil pipeline network after a proposal to offer long-term contracts to keep the conduits full was rejected by Canada’s energy regulator. View the full article
Saudi Arabia’s energy minister warned traders against shorting oil prices, saying OPEC+ could react quickly to any fall in prices. View the full article
Energy companies will need to provide updates each quarter on how they’re boosting clean energy investments in order to avoid a UK windfall tax on their surging oil and gas earnings, British government minister Alok Sharma said. View the full article
U.S. shale oil drillers continue to show little sign of responding to high global prices with more production, only now it's not just their focus on rewarding shareholders that's holding them back, but also a preoccupation with soaring costs. View the full article
European Commission President Ursula von der Leyen warned companies not to bend to Russia’s demands to pay for gas in rubles, as the continent scrambles to respond to Moscow’s move to start switching off supplies. View the full article
A helicopter carrying nine people near India’s Oil and Natural Gas Corporation’s Sagar Kiran offshore rig landed in the Arabian Sea on Tuesday morning, killing four. View the full article
Devon Energy Corp., one of the biggest oil explorers in the Permian Basin, is getting into the sand business to combat rising costs. View the full article
Equinor ASA is boosting natural gas exports to ease Europe’s supply crunch, sacrificing some oil production in the process. View the full article
The American Petroleum Institute, which oil companies were pressured to disassociate themselves with by the U.S. House Oversight and Reform Committee last week, came out in support of Biden’s new methane regulations proposed at the COP26 meeting in Glasgow, Scotland. View the full article
Neptune Energy has begun drilling on the Ofelia exploration well in the Norwegian sector of the North Sea, the company announced. View the full article
The White House and 49 senators support a proposal to impose an almost $20 per-ton fee on carbon as part of President Joe Biden’s climate-and-spending legislation, U.S. Senator Sheldon Whitehouse said Saturday. View the full article
The Railroad Commission of Texas moved forward in its application process to gain primacy from the EPA for Class VI injection wells. View the full article
Mubadala Petroleum announced that the drilling of the Timpan-1 exploration well offshore North Sumatra, Indonesia, has been completed with the discovery of a 390-foot gas column. View the full article
Oil posted a monthly gain of 11% on signs that consumption is outpacing supply and draining stockpiles. 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.