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Independent Petroleum Association of America (IPAA) President & CEO Jeff Eshelman spoke out in support of President Donald Trump's recent signing of the H.J.Res.35, which through the Congressional Review Act process disapproves of the Biden Environmental Protection Agency’s (EPA) methane tax regulations. View the full article
The company will sell most of its non-operated upstream assets in the UK central and northern North Sea to NEO Energy, according to a statement Wednesday. NEO is an oil producer backed by Norwegian private equity firm HitecVision AS. View the full article
Demand for crude will increase by 7 million to 8 million barrels a day by the end of 2022, up from current levels, and producers will be stretched to meet that surge, Vitol Chief Executive Officer Russell Hardy said in an interview. View the full article
Oil markets are closely watching the negotiations for any clues as to when the OPEC member will be able to resume crude sales, and how quickly Washington will allow it to ramp up production. View the full article
The Trump administration’s approval of a ConocoPhillips oil field project on Alaska’s Northern Slope was rescinded by a federal judge who said it failed to adequately protect polar bears and didn’t properly consider the effects on climate change. View the full article
Surging energy prices are kindling bullish bets on developing-nation exporters, with Russia emerging as traders’ favorite investment destination. View the full article
Building on an existing collaboration that has been ongoing since Aker BP was established, KDI will continue to contribute in accelerating Aker BP’s digitalization process by enabling real-time cloud-based data access, supporting decision-making, and improving efficiency. View the full article
The U.S. Department of Energy issued two long-term orders authorizing an additional 0.5 Bcfd of liquefied natural gas exports from Golden Pass LNG in Texas and Magnolia LNG in Louisiana. View the full article
Abu Dhabi National Oil Company announced the award of five framework agreements totaling $1.83 billion for Directional Drilling and Logging While Drilling. View the full article
Sintana Energy Inc. has closed its acquisition of an initial 49% interest in Giraffe Energy Investments (Pty) Ltd. Giraffe is the owner of a 33% interest in Petroleum Exploration License 79, which governs blocks 2815 and 2915, located inboard of blocks operated by BW Energy, Rhino Resources and Shell. View the full article
Westerton Access, a global provider of specialist subsea inspection, maintenance and integrity services to the energy market, announced the appointment of James Griffin, who has joined the business in the role of Regional Manager, overseeing sales and operations for the company’s Europe and West Africa business unit. View the full article
Following the completion of the interpretation of the CB23 seismic survey data and a review of prospectivity in the eastern Cabora Bassa basin, eight key prospects have been defined in the company’s Exclusive Prospecting Orders (EPOs) 1848 and 1849, totaling 2.9 Tcfg and 184 MMbbl condensate. View the full article
An oil terminal Iran built to bypass the vital Strait of Hormuz appears to have partially filled with crude — offering Tehran a means to get a little of its oil into the world without using the waterway. View the full article
(Bloomberg) – OPEC’s crude production increased for a second month as Libya continued to recover from a political feud that had closed its biggest oil field. View the full article
The Republic of Congo has set ambitions to increase its production from 270,000 barrels per day (bpd) to 500,000 bpd in 2025, with a panel discussion planned for CEIF 2025 to outline the country's production targets.
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Baker Hughes and NextDecade have entered into a framework agreement whereby NextDecade plans to utilize Baker Hughes’ gas turbine and refrigerant compressor technology to perform maintenance work for Trains 4 through 8 at the Rio Grande LNG Facility. View the full article
Occidental has long held more pipe space than it needs from the Permian, in the hope that its shale business would eventually grow big enough to make use of it. But last year’s oil-price crash, and, more recently, the winter freeze in Texas, caused the company to cut investment and production in an effort to prioritize near-term cash flow for debt reduction. View the full article
“There is substantial momentum across all segments of the economy in transparency and reporting of GHG emissions, sustainability, and ESG performance. The SEC should exercise restraint from taking any action that could hinder or otherwise complicate these ongoing efforts," said NOIA president Erik Milito regarding potential changes to the SEC's climate change disclosure rules. View the full article
LNG supplies entering European grids in July fell to the lowest for that month in three years and the outlook for this month is even more grim. View the full article
Qatar, the world’s biggest exporter of liquefied natural gas, said it would be wrong to commit to eliminating planet-warming emissions without having a proper plan in place. View the full article
The U.S. is trying to re-focus its energy relationship with top Middle East OPEC countries, notably Saudi Arabia, after a period of tension between Washington and Riyadh over high oil prices. View the full article
Whitecap Resources Inc., a Canadian conventional and shale driller, plans to increase natural gas activity in the second half of the year to capitalize on a surge in prices, Chief Executive Officer Grant Fagerheim said. View the full article
Texas’s top oil and natural gas regulator adopted a new set of weatherization rules more than a year and a half after a deadly winter storm hit the state and left millions without power for days and left more than 200 people dead. View the full article
The FEED work will be based on the scope of the Unit Development Plan approved by the Mexican Hydrocarbon Commission (CNH) last year. It covers the planning of two offshore platforms, 68 km of pipelines and cables as well as a new onshore facility, fully dedicated to the Zama project, located in the Dos Bocas Maritime Terminal, in Paraiso, Tabasco. View the full article
Russia plans to make extra crude oil production cuts to compensate for pumping above its OPEC+ quota in October and November this year, then between March and September of 2025. The compensation cuts will be made to account for overproduction that has occurred from April, Russia’s Energy Ministry said in a Telegram statement. 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.
