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“Egypt is in the process of launching the Egypt Upstream Gateway, a digital subsurface platform that will act as an up-to-date repository of the country’s subsurface data,” said H.E. Eng. Tarek El-Molla, minister of petroleum and mineral resources, Egypt. View the full article
The software is a fully adaptive, self-learning, and continuously improving system that addresses the unique challenges and requirements of drilling. The AI agent finds the most efficient and safe way to TD, predicts incidents, hazards, and optimizes parameters. View the full article
West Virginia Senator Joe Manchin stands alone among his fellow Democrats, recognizing the long-term economic damage Biden's $3.5T liberal wish list would inflict on America’s ability to meet its own energy needs, and compete in the global economic arena. View the full article
Discovered via a trio of wells drilled by the Valaris DS-12 drillship in 2019, the high-quality gas at BirAllah represents the largest deep water gas discovery of 2019 and the third largest overall. View the full article
One of World Oil’s most notable editorial advisors receives SPE’s ultimate distinction while also taking on new roles in the industry. View the full article
Ecopetrol has selected Aspen GDOT dynamic optimization software as part of its digitalization initiative to improve refining margins at its two refineries in Cartagena and Barrancabermeja, and upgrading to Aspen DMC3 advanced process control software in Barrancabermeja refinery. View the full article
The block has significant 2D and 3D seismic data already completed and no additional seismic acquisition or drilling of wells is planned in the three-year carried period. During this period, Eco will complete the interpretation and analysis required for its planned Work Program with its in-house exploration team. View the full article
Canadian-based oil and gas exploration company, Eco Atlantic, through its subsidiary Azinam Limited, signed a farmout agreement for the acquisition of an additional 6.25% participating interest in Block 3B/4B offshore South Africa. View the full article
The owners of Laredo Energy VI LP, a gas driller focused in the Eagle Ford Shale in South Texas, are considering a sale of the company worth up to $1 billion, according to people with knowledge of the situation. View the full article
The project at the Port of Rotterdam could sequester about 2.5 million metric tons of carbon dioxide annually by storing it in depleted gas fields in the seabed. The four companies involved—Shell, Exxon, Air Liquide SA, and Air Products and Chemicals Inc.—will receive state backing for the plan, according to Sjaak Poppe, a spokesman for the port. View the full article
A verdict holding oil companies liable for greenhouse gas emission caused by the burning of fossil fuels they’ve extracted would be a landmark victory for environmental campaigners, who’ve increasingly turned to courts to seek reforms. View the full article
Fairfield Energy announced the end of an era with the removal of the topsides from Dunlin Alpha. This is the latest milestone in the decommissioning of the four fields which make up the Greater Dunlin Area. View the full article
On July 30, ENTSO-E allowed a 2.5-fold increase in the export of Ukrainian electricity to Europe, only up to 250 MW. This gives Ukraine a revenue stream for supporting its energy sector. 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
Timchenko said that Ukraine is the number one topic at Davos, focusing on the country’s role in the future, particularly regarding energy security. A critical part of energy security is renewables. View the full article
In a weekly online briefing during Thursday, DTEK CEO Maxim Timchenko discussed the progress made in rebuilding Ukraine’s energy and electricity infrastructure. He provided an update on energy sector operations and restoration of electricity supply amid the Russian invasion View the full article
The well remains on schedule to begin drilling this month and is targeting 163 MMbbl of unrisked prospective oil resources or 843 Bcf of unrisked prospective natural gas resources, net to ReconAfrica. View the full article
After driving up prices for everything from steel pipes to frac sand to labor, inflation has finally ensnared the centerpiece of oilfield equipment: the drilling rig. View the full article
Optimism has also been buoyed by expectations that global crude supplies won’t grow fast enough to satisfy demand as Covid-19 vaccinations proliferate and economies that shut down for the better part of a year begin reopening. View the full article
Longboat Energy, an emerging full-cycle North Sea E&P company, announced the commencement of drilling operations on the Cambozola exploration well in Norway. View the full article
Deltic considers it “unlikely” that Selene will require further appraisal prior to field development planning commencing and could be brought into production “relatively quickly” following discovery given the proximity of existing infrastructure. 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
Recently introduced digitalization and automation technologies are enabling better performance on new build and retrofitted rigs. View the full article
The Biden administration is urging OPEC and its allies to find a compromise solution to increase oil production, according to White House officials familiar with the discussions. View the full article
It’s the latest in a series of incidents that are undermining the southern African country’s hopes of developing some of the continent’s biggest private investment projects. As much as $120 billion of investments by Total, Exxon Mobil Corp. and other companies may be approved by 2026, according to Standard Bank Group Ltd. 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.