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Cairn Energy Plc shareholders can expect a payback of as much as $700 million once the UK oil producer settles a long-running tax dispute with India. View the full article
Natural gas futures soared as forecasts for chilly November weather in the U.S. East heightened concern that supplies will struggle to meet demand this winter. 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
Saudi Aramco taking the crown of the world’s most valuable company from Apple Inc. underscores investors’ appetite for oil and gas as the countries around the globe battle rampant inflation and fear of energy shortages. 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
Schlumberger’s Digital Forum 2022 is underway today with its first full day of speakers and presentations, following the theme is “Connecting for a New Future.” World Oil is present to bring you updates throughout the week. View the full article
The American Petroleum Institute (API) filed a lawsuit in the D.C. Circuit Court of Appeals challenging the U.S. Environmental Protection Agency’s (EPA) heavy-duty (HD) vehicle emissions standards for model years (MY) 2027-2032. View the full article
The sustained OPEC+ production curtailment through April suggests that supply will remain constrained in the near term, even as demand continues to increase. As a result, the U.S. Energy Information Administration expects that further inventory withdrawals to meet rising crude oil demand will support crude oil prices through at least the end of April. View the full article
The Energy Workforce and Technology Council’s 2021 Annual Meeting is set for September 15-17 in Santa Ana Pueblo, New Mexico, and registration is open now. View the full article
Oil majors are gearing up to explore off the coast of Colombia, offering hope to a country struggling to reverse declines in reserves and output of its biggest export. View the full article
Enbridge Inc., the Canadian pipeline giant, agreed to acquire Moda Midstream Operating LLC for $3 billion to add U.S. Gulf Coast oil export capacity. The deal will connect Enbridge with oil produced in the Permian and Eagle Ford shale basins. View the full article
Exxon Mobil Corp. is weighing salary increases as it tries to halt employee attrition across its business divisions after sweeping job and benefit cuts. 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
The OSDU Data Platform is a cloud native, open-source technology which provides the energy industry a toolbox to address the undifferentiated capabilities needed to manage large, disconnected data sets. View the full article
New laws imposing £5 billion of new taxes on the UK’s offshore oil and gas operators risk driving away investors and undermining the nation’s future energy supplies, the industry’s leading trade body has warned. View the full article
The Department of Energy will offer additional U.S. reserve crude for sale ahead of plans by the European Union to ban most Russian oil in December. View the full article
Golden Pass, in its motion, urged the court to force Zachry — which filed for Chapter 11 proceedings in May and laid off thousands of workers from the Golden Pass site — to walk away from its contract and allow the joint venture to hire replacement workers. View the full article
Last year BP said it would restructure the company to focus on cleaner energy and shrink its hydrocarbon business by 40% over the coming decade. Since announcing its strategy shift, the major has sold a string of oil and gas assets while making big investments in offshore wind. View the full article
CGG announced that Sercel and Low Impact Seismic Sources (LISS) have entered into exclusive negotiations for Sercel’s acquisition of LISS. View the full article
South Sudan is experiencing a rapid drop in crude output as producing oil blocks have hit peaks and have begun to decline, according to Ministry of Petroleum Undersecretary Awow Daniel Chuang. View the full article
Neptune Energy Group Ltd., the private equity-backed explorer, is considering options including a merger with Harbour Energy Plc that could create one of Europe’s largest independent oil and gas companies, people familiar with the matter said. 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
Located 20 nautical miles (37 km) from the coast, the lease covers a 120 square nautical miles area (222 sq km) that will generate a capacity of more than 1 GW, enough to provide power to more than 300,000 homes. View the full article
Well construction expert DeltaTek Global announced its QuikCure® technology has received a U.S patent, confirming the unique attributes and technical make-up of the company’s rapid cement hydration offering. View the full article
A bipartisan pair of senators is pressing the Biden administration to use secondary sanctions to enforce a cap on the price of Russian oil. 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.