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Oil prices in New York gained for a second session, building on the biggest one-day gain in nine months, amid glimmers of optimism among bulls that the delta coronavirus variant’s hit to demand may be passing. View the full article
Bol Ring Mourwel, who was appointed head of Nile Petroleum Corp. in September 2020, was removed with immediate effect, according to a decree broadcast on state television on Thursday. View the full article
It’s been a roller-coaster ride for natural gas this year, with most of the time spent climbing to newer heights. The worst is far from over with frigid winter weather on the horizon for many parts of the world, while fears remain that the market may stay out of balance through much of next year. View the full article
The FPSO Guanabara has an installed capacity of 12 million cubic meters of natural gas and 180,000 bopd and initially has six producing wells and seven injector wells connected to the field. View the full article
OPEC+ agreed to make a token oil supply cut for October, a surprise move that shows the alliance is seeking to stabilize global markets after a faltering economic backdrop triggered the longest price rout in two years. View the full article
Matador expects to have over 190,000 net acres in the Delaware basin, part of the greater Permian basin, producing over 180,000 boed, with proved reserves exceeding 580 MMboe. The enterprise value of the combined company is projected to exceed $10 billion. View the full article
Leading national energy associations have expressed strong backing for the Energy Permitting Reform Act of 2024, introduced by Senate Energy & Natural Resources Chairman Joe Manchin (I-WV) and Ranking Member John Barrasso (R-WY). View the full article
Chevron, ExxonMobil and Shell are among the companies taking measures such as evacuating workers from vulnerable installations, suspending drilling activities, and shutting in some wells. The storm’s forecast path intersects with fields that account for roughly 125,000 bpd and 300 MMcfgd. Francine may rake nine major platforms, including Enchilada, Cerveza, Perdido and Hoover. View the full article
(WO) — Oil prices persevered as traders tracked tensions between Israel and Iran, with strikes continuing amid U.S. efforts to facilitate a cease-fire agreement. View the full article
Crescent Energy Company has announced the signing of a definitive agreement to acquire Eagle Ford assets from Ridgemar Energy for upfront consideration of $905 million plus future oil price contingent consideration View the full article
It’s not the first time India, one of the biggest buyers of the producer group’s crude, has urged the Organization of Exporting Petroleum Countries and its partners to pump more oil. View the full article
LYTT developed a technology that identifies and differentiates multiple downhole well integrity events by using unique algorithmic pattern recognition capabilities that build on acoustic measurements from Distributed Acoustic Sensing data. View the full article
After years of booms and busts that produced astronomical losses along with a whole lot of oil, the shale industry seems to have found a sweet spot, poised to hit a record of more than $30 billion of free cash generated in 2021. View the full article
Pemex left investors with more questions than answers after it announced in late July that it would be disclosing its greenhouse gas emissions on a more regular basis — then refused to discuss why they’d soared by double-digits from April to June, compared to a year ago. View the full article
Oil in London rose past $85 a barrel for the first time since 2018, the latest milestone in a global energy crunch that has seen prices soar. View the full article
Saudi Arabia raised oil prices for buyers in Asia and the U.S., signaling it sees demand staying strong despite the spread of the omicron variant of the coronavirus. View the full article
ApexBrasil is partnering with numerous companies and organizations to highlight the country's burgeoning leadership in the sector at the Offshore Technology Conference (OTC) in Houston, Texas. View the full article
Deirdre Michie OBE has today formally announced that at the end of 2022 she will hand over the reins after almost eight years as Chief Executive of Offshore Energies UK. View the full article
The UK’s new government must double or even triple the rate of offshore wind turbine installations to meet its target of a four-fold increase in offshore renewable energy by 2030, according to a new report. View the full article
The integrated service offering enhances performance through capacity augmentation to support additional capabilities for oil and gas customers by powering a range of applications, including enterprise-grade solutions for customers’ cloud-based computing services, applications to drive operational efficiency and safety, and enhanced crew welfare offerings. View the full article
Zephyr Energy plc has released initial results from the State 36-2R well at its Paradox Basin project in Utah. The early production test shows promising outcomes for the well, which was evaluated at various rates and choke settings. View the full article
The American Petroleum Institute is raising concerns over the recent decision by the U.S. District Court for the District of Maryland to vacate the National Marine Fisheries Services’ (NMFS) Biological Opinion in the Gulf of Mexico. View the full article
(WO) — CNOOC Limited has commenced production on its Xijiang 30-2 Oilfield Xijiang 30-1 Block Development Project ahead of schedule. The project is expected to achieve a peak production of approximately 26,000 boed in 2027. View the full article
CNX Resources Corporation has entered into a definitive agreement to acquire the natural gas upstream and associated midstream business of Apex Energy II in the Appalachian Basin for total cash consideration of approximately $505 million. View the full article
OPEC and its allies have been constricting oil supplies since the pandemic crushed demand almost a year ago. To disperse the lingering stockpile surplus, the Saudis pledged extra crude reductions during February and March. 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.
