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Energy Minister Anne-Marie Trevelyan said the UK could eventually follow in the footsteps of North Sea neighbor Denmark which will stop offering new oil and gas licenses and end production by 2050. View the full article
The UK government said it has reached an agreement with the country’s oil and gas industry that will help safeguard jobs as the nation strives to achieve net-zero emissions of greenhouse gases. View the full article
Preliminary estimates place the size of the discovery in the Fram prospects between 12 and 19 million standard cubic meters of recoverable oil equivalent, corresponding to 75-120 million barrels of recoverable oil equivalent. View the full article
Crude futures in New York added as much as 3.4% after a ship ran aground in the Suez Canal, giving the market a reprieve after prices sank to the lowest level since early February. Despite efforts to move the vessel, it could block the route for days. View the full article
European and U.S. refiners that rely on the vital waterway for cargoes of Middle Eastern oil may be forced to look for replacement supplies should the blockage persist, while flows of crude from North Sea fields destined for Asia will be held up. View the full article
Baker Hughes and Horisont Energi AS have signed a memorandum of understanding for the Polaris carbon storage project off the northern coast of Norway. Under the agreement, the two companies will explore the development and integration of technologies to minimize the carbon footprint, cost and delivery time of carbon capture, transport and storage (CCTS). View the full article
The oil demand recovery in Europe, a region that accounts for about 15% of global consumption, looks set to take a fresh hit as the continent struggles to deal with another wave of coronavirus cases that could curb summer travel plans. View the full article
U.S. prosecutors alleged that Emilio Heredia, a former Glencore employee, directed buy and sell orders that would push fuel oil prices up and down. That allowed the companies he worked for to profit from the price swings, between 2012 and 2016, according to a filing at a U.S. District Court in San Francisco on March 15. View the full article
Covid-19 cases are surging in India and threatening the economy’s recovery from a rare recession, while in Southeast Asia, demand has hit a plateau and is unlikely to reach pre-virus levels until the end of 2021 or later. View the full article
The Enhanced Kick Detection system eliminates the external effects of rig and slip-joint motion, to give a highly accurate return volume flow measurement enabling rapid detection of flow anomalies, resulting in reduced time spent on flow-checking. View the full article
Covid-19 cases are surging in India and threatening the economy’s recovery from a rare recession, while in Southeast Asia, demand has hit a plateau and is unlikely to reach pre-virus levels until the end of 2021 or later. View the full article
Chief executives of some of the largest U.S. oil companies promised to collaborate with the Biden administration in its campaign against climate change during a meeting Monday with White House National Climate Adviser Gina McCarthy. View the full article
It hasn’t been this cheap for U.S. shale operators to raise money on the high-yield bond market since oil was at $100 a barrel in 2014, so they’re jumping on the opportunity to refinance debt at lower rates. View the full article
It hasn’t been this cheap for shale explorers to raise money on the high-yield bond market since oil was at $100 a barrel in 2014, so they’re jumping on the opportunity to refinance debt at lower rates. View the full article
U.S. President Joe Biden has vowed to end the conflict in Yemen, ceasing sales of offensive weapons to Saudi Arabia, removing the Houthis’ terrorist designation to facilitate the delivery of humanitarian aid, and pushing for a negotiated settlement. View the full article
Oil and gas industry leaders are set to meet with White House National Climate Adviser Gina McCarthy Monday afternoon, as the Biden administration prepares to crack down on greenhouse gas emissions from fossil fuels. View the full article
The combined portfolio brings OSIsoft’s world-class data management together with AVEVA’s leading industrial software to unlock Performance Intelligence. View the full article
Baker Hughes has reached a significant technology milestone in pioneering a solution to overcome flexible pipe stress corrosion cracking (SCC) tendencies in high CO2 content fields, such as those found in Brazil’s pre-salt offshore developments. View the full article
The exercises will enhance the security of vital installations and oil fields, and secure freedom of navigation in the region’s waters, the official Saudi Press Agency said. They will be conducted by the Royal Saudi Navy with participation from Saudi Aramco, the state oil company. View the full article
An upstart driller in Mexico aims to provide 10% of the country’s natural gas needs as it develops prospects south of Texas’s border. View the full article
Aramco is looking to work with China on blue hydrogen and ammonia, synthetic fuels and carbon capture utilization and storage, Nasser said at the China Development Forum in Beijing. “All of these are essential to achieving our long-term, low-carbon ambitions,” said Aramco CEO Amin Nasser. View the full article
Brent oil gave up some gains posted at the end of the worst week since October as the dollar strengthened and as investors assessed the near-term demand outlook. View the full article
Even as problems with Europe’s vaccine program and a slowdown in Chinese crude buying sent futures down more than 7% on Thursday, data from around the world showed a steady, albeit patchy, recovery in demand. View the full article
Saudi-led coalition warplanes raided the Yemeni capital, Sana’a, targeting military camps and Houthi rebel facilities near the city’s airport and in its suburbs, residents and rebel-run Al-Masirah TV said. A separate strike hit a rebel target in the port province of Hodeidah. View the full article
“All of the missiles and drones that came into Saudi are Iranian-manufactured or Iranian-supplied,” Adel Al-Jubeir, minister of state for foreign affairs, said in an interview with Arab News published Friday afternoon. “Several of them, as we’ve said, came from the north; several came from the sea.” 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.
