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High fossil-fuel prices may jeopardize efforts to pivot to cleaner renewable energy sources, the leader of one of Europe’s largest oil companies warned. View the full article
Exxon Mobil Corp. pledged to zero out some greenhouse-gas emissions in North America’s biggest oilfield by the end of the decade. View the full article
U.S. natural gas collapsed to the lowest level in more than four months as record-high temperatures kill heating demand ahead of winter. View the full article
The Biden administration’s efforts to lower energy costs takes a step forward Monday, with bids due for the first 32 million barrels of crude planned for release from federal stockpiles. View the full article
With the ink hardly dry on a landmark pledge by the finance industry to fight climate change, the world’s biggest banks are making clear they plan to stand by their fossil-fuel clients. View the full article
The company notes that COVID-19 has been a wake-up call to the upheaval that a sudden drop in energy demand and/or labor availability can cause, and digital oilfield technologies such as digital twins and other remote monitoring solutions will be gamechangers in upstream oil and gas operations. View the full article
Cabinda Gulf Oil Company Limited has signed a contract with Angola’s Agency for Oil, Gas and Biofuels aimed at extending the exploration and production of Block 0, in Cabinda, for another 20 years. View the full article
Royal Dutch Shell Plc has evacuated non-essential staff from its floating liquefied natural gas facility in northwest Australia as the operator struggled to restore power that knocked out operations earlier in the week, according to people familiar with the matter. 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
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
Oil producers in the Permian Basin must do more to disclose and stop the leak of methane, a powerful greenhouse gas, a House committee wrote in a letter to 10 major oil companies. View the full article
A South African court has ruled that Royal Dutch Shell Plc can proceed with a seismic survey offshore the East Coast, after dismissing a legal application by activist groups. View the full article
Oil jumped after the OPEC+ alliance left the door open to reversing its decision to boost output, with the impact of the omicron Covid-19 variant on demand remaining highly uncertain. View the full article
Turkey threatened to block any unauthorized search for gas and oil in its economic exclusive zone in the eastern Mediterranean after Cyprus awarded hydrocarbon exploration and drilling rights in its offshore block 5 to a venture of Exxon Mobil and Qatar Petroleum. View the full article
Royal Dutch Shell Plc pulled out of a controversial UK oil project, a win for environmentalists as the development of a new North Sea field was left hanging in the balance. View the full article
Exxon Mobil Corp. will award U.S. employees below-inflation pay increases in early 2022 despite a strong rebound in earnings over the past 12 months. View the full article
Petroleos Mexicanos is replacing its finance chief as President Andres Manuel Lopez Obrador tightens his grip on the struggling state oil giant. View the full article
Chevron Corp. boosted its planned share buyback to as much as $5 billion per year, as the oil giant uses higher commodities prices to step up returns to investors rather than investing in production growth. View the full article
OPEC and its allies agreed to proceed with their next oil-production hike, while signaling they could revisit the decision at any moment as the risk to demand from the omicron variant of Covid-19 becomes clearer. View the full article
“This deal was justified on three key merits: it meets our rigorous cost of supply framework, we see a way to drive efficiencies from the assets, and the transaction makes our 10-year plan better,” said Ryan Lance, ConocoPhillips chairman and CEO. View the full article
The second Wells Insight report, published by the UK Oil and Gas Authority, highlights significant opportunities remaining in the UK North Sea basin, despite Covid resulting in a slowdown in 2020. View the full article
Shale drillers’ newfound commitment to production discipline appears to be paying off as crude plunges toward a bear market. View the full article
Texas’s top oil and gas regulator voted Tuesday to more clearly define who’ll be at the top of the list to keep receiving electricity during severe winter weather, closing an earlier draft loophole that critics said would’ve let any operator pay just $150 to opt-out of expensive upgrades. View the full article
Exxon Mobil Corp. pledged on Wednesday to cut its greenhouse-gas emissions 20% by 2030, marking its most ambitious emissions target to date but falling far short of the sweeping climate commitments from some of its biggest rivals. View the full article
Oil rebounded from another sharp drop as OPEC ministers prepared to meet amid booming 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.
