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A London-based startup that makes small, modular units to capture carbon emissions from smokestacks has raised $150 million from investors that include the venture arms of Chevron Corp., Saudi Arabian Oil Co., and Samsung Group. 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
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
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
The program was first launched in 2020 to test the extent to which mediation can resolve certain disputes between oil and gas licensees, operators and infrastructure owners in the UK Continental Shelf. View the full article
Responding to the Queens’s speech, Offshore Energies UK said the proposed Energy Bill must create the predictability needed to attract the long-term investment crucial to boosting the nation’s energy security. View the full article
Noble Corp. and Maersk Drilling offered to divest some of its offshore operation platforms to avoid an in-depth investigation from the U.K.’s antitrust regulator over the $2.6 billion deal, potentially smoothing the way for approval. View the full article
Neptune Energy announced it will spend more than $1 billion over the next five years securing energy supplies for the UK and speeding the transition to net zero. View the full article
Equinor ASA sold assets in the North Sea for $1 billion as it seeks to benefit from high oil prices and redirect proceeds to other core businesses. View the full article
Offshore energy professionals from around the world convened at the 2022 Offshore Technology Conference to discuss the latest advancements in the offshore oil and gas industry, while touting the role that the offshore energy industry plays within the energy transition. View the full article
Apex International Energy announced the Fajr-8 development well was tested at a daily rate of 2,440 barrels of oil and negligible water. View the full article
More than 100 oil and gas projects should commence operations in Nigeria during the next four years, accounting for more than 24% of the predicted total projects starts during that time, predicts GlobalData. View the full article
Oil booms typically spark a chase for higher production -- but not this time. All five supermajors have kept their capital expenditure budgets firmly in check and pledged that this discipline will hold in future years. View the full article
Japanese Prime Minister Fumio Kishida said it would take time to phase out imports of Russian oil, hours after he joined other Group of Seven leaders to impose a ban on crude over the Kremlin’s invasion of Ukraine. View the full article
The U.S. Department of Energy is actively aligning funds and programs to further support the thriving offshore wind industry, specifically projects in the US Gulf of Mexico and Central Atlantic. View the full article
Shell Plc is in talks to sell its fuel stations in Russia as it withdraws from the country in response to the invasion of Ukraine. View the full article
Following the dramatic recovery in U.S. steel production last year - a more than 18% year-on-year increase - the market is increasingly losing momentum. View the full article
South Sudan is taking steps to take over the operations of international oil companies in the country to increase its share of revenue, even as production declines, according to a government official. View the full article
Boris Johnson urged the oil majors BP Plc and Shell Plc to invest “massively” in renewables to shore up the U.K.’s energy security, as soaring prices squeeze household budgets. 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
Energy demand is expected to increase, and deepwater oil and gas will play a critical role in the energy mix in the future, ExxonMobil Vice President of Deepwater Jeff Weidner said during an executive dialogue. View the full article
Wednesday, the Senate approved language calling for Senate negotiators to support the issuance of a new Five Year Program for offshore oil and gas leasing as soon as possible and that the new program should include at least two area-wide lease sales per year. 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
It may have taken an investor rebellion, a pandemic and a war in Europe, but U.S. shale oil and gas producers are now on the cusp of making back their losses from the last decade. View the full article
Canada is becoming more reliant on the fossil-fuel sector, even as Prime Minister Justin Trudeau seeks to strengthen the country’s policies on climate change. 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.
