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The tightness in global oil markets that propelled prices to a seven-year high is starting to ease as production recovers in the U.S. and elsewhere, the International Energy Agency said. View the full article
World consumption will once again reach 100 million barrels a day in the second half of 2022 as developed economies bring the virus under control, the International Energy Agency said, in its first detailed outlook for the year ahead. View the full article
Global oil demand has proven stronger than expected as the latest coronavirus variant inflicts a softer hit to the economy than anticipated, the International Energy Agency said. View the full article
As a resource-rich country on the leading edge of many clean energy technologies, Norway is uniquely well placed for the clean energy transition, according to a new in-depth policy review by the International Energy Agency. View the full article
The International Energy Agency has a bold interpretation for what must be done to avert a climate crisis – and its measures stand in stark contrast to current economic and technological realities. View the full article
Government climate policies and the transition away from fossil fuels are not to be blamed for the energy crisis ravaging Europe and Asia, according to the International Energy Agency. View the full article
Less than 15% of the $2.4 trillion in government spending to support the post-pandemic economic recovery has gone to investments in clean energy, according to the International Energy Agency. View the full article
The IEA cut forecasts for world oil consumption in 2021 by 200,000 barrels a day as the pandemic continues to limit travel and economic activity. It boosted projections for supplies outside the OPEC cartel by 400,000 barrels a day as a price recovery spurs investment. View the full article
“Much greater resources have to be mobilized and directed to clean energy technologies to put the world on track to reach net-zero emissions by 2050,” said Fatih Birol, the IEA’s executive director. Among other milestones, the IEA's 2050 plan depends on all new oil and gas exploration worldwide being halted several weeks ago. View the full article
A “big chunk” of U.S. shale is profitable at current oil prices, but drillers should be aware of crude’s declining share in the future global energy mix, International Energy Agency Executive Director Fatih Birol said in an interview. View the full article
The International Energy Agency called on Russia to supply more natural gas to Europe, saying the energy crunch was an opportunity for the country to show it’s a “reliable supplier.” View the full article
Energy producers -- not the transition to a greener economy -- are a key reason for soaring natural gas and power prices in Europe, according to International Energy Agency Executive Director Fatih Birol. View the full article
IDEC Corporation has updated its SmartAXIS touch family with the new FT1J Series combined PLC+HMI, building on the success of the FT1A-C and -M Series 3.8” PLC+HMIs View the full article
IDEC Corporation has updated its SmartAXIS touch family with the new FT1J Series combined PLC+HMI, building on the success of the FT1A-C and -M Series 3.8” PLC+HMIs View the full article
Gran Tierra Energy Inc. has announced that the shareholders of i3 Energy plc, a public limited company organized under the laws of England and Wales, have approved Gran Tierra’s previously announced acquisition of i3 Energy. View the full article
The agreement formalizes a closer working partnership between the two businesses, following the formation of a strategic alliance in 2019 when Hunting and Jindal began cooperating to develop their presence in the rapid growth OCTG market in India. View the full article
Titan Division of Hunting Energy Services announced an exclusive licensing agreement with Nammo Defense Systems Inc. for the manufacture of time delay fuses for Hunting’s perforating applications. View the full article
Hungary is one of the EU nations most reliant on Russia for energy, and has seen the cost of oil and gas imports soar to an estimated $19 billion this year from $4 billion in 2019, according to government data. View the full article
Hungary told its European Union counterparts that it will cost at least 770 million euros ($810 million) to revamp its oil industry as they wrangle over potential sanctions that would target Russian supplies. View the full article
MCE Deepwater Development returned to its in-person conference in London this month. By all accounts, it exceeded its goal of bringing together technical experts from across the global industry. View the full article
HSM Offshore Energy has successfully rolled out the THOR OHVS (Offshore High Voltage Substation) and lifted the GIS modules for RWE Renewables at its Schiedam yard in the Netherlands. View the full article
By securing the additional fabrication facility, HSM Offshore Energy is positioning itself to meet the increasing demand in the offshore renewable market, focusing on the offshore wind, gas, carbon capture and storage (CCS) and hydrogen segments in the North Sea and Baltic Sea. View the full article
As oil prices continue to linger around the $100-plus/bbl price, mergers and acquisitions in the sector have been pushed to a three-year high, as well as private equity deals that may experience a record year. View the full article
Long recognized as a pillar of U.S. energy production, deepwater Gulf of Mexico could help provide the resources the world needs during the energy transition. Restricting supplies of fossil fuels may seem like an answer. But society needs affordable energy sources until the net-zero goal is met. View the full article
Enverus Intelligence Research gives an in-depth analysis of challenges and opportunities in hydrocarbon supply amid commodity price volatility 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.
