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More than 100 people died in an explosion at an illegal oil refinery in southeastern Nigeria over the weekend, demonstrating the dangers associated with an illicit industry that thrives in the crude-producing region. View the full article
Libya’s oil ministry said fields shut down by protesters may reopen within days, potentially allowing the OPEC member to get back to full production. View the full article
The world’s biggest oilfield-services provider said its suspension of future investment in Russia, a market that has represented about 5% of its total sales, means it can shift its own spending to other parts of the world. View the full article
The global data business in the oil & gas market is projected to rise at a compound annual growth rate of 16.5% for the next decade, rising from a valuation of $31.6 billion in 2022 to $145.9 billion by 2032. View the full article
Discovered via a trio of wells drilled by the Valaris DS-12 drillship in 2019, the high-quality gas at BirAllah represents the largest deep water gas discovery of 2019 and the third largest overall. 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
Nigeria expects to raise its daily crude production closer to its OPEC quota in about two weeks as authorities re-open wells that had to be shut to keep criminals at bay. View the full article
KCA Deutag, a global drilling, engineering and technology provider, secured contract extensions and options totaling over $170 million, with the majority focused on extensions with existing clients across core markets in the Middle East. View the full article
The National Ocean Industries Association announced that TechnipFMC and Aker Solutions are the winners of the 2022 NOIA Safety in Seas Awards competition. View the full article
Russia’s second-largest oil producer Lukoil PJSC said Chief Executive Officer Vagit Alekperov will resign, in the latest sign of growing pressure on the nation’s energy industry since the invasion of Ukraine. View the full article
Valero Energy Corp.’s trading division was the largest buyer of crude oil in the Biden administration’s second sale of emergency stocks that were part of the White House’s efforts to combat surging energy prices after Russia invaded Ukraine. View the full article
Liberty Oilfield Services Inc. posted its best quarterly sales since going public more than four years ago as the global energy crisis spurs a boom in demand for fracing. View the full article
Mexico’s state-owned oil giant Petroleos Mexicanos will resume paying its debt maturities this year, ending a government policy of covering its amortizations to help the beleaguered driller shore up its finances, according to a Finance Ministry official. View the full article
North Sea Investment Forum announced that Greg Hands MP, UK minister of state for business, energy, and clean growth, will deliver the ministerial keynote to kick off the North Sea Investment Forum in London on June 23. View the full article
Baker Hughes Co. tumbled by the most in two years after warning that sales in Russia would continue to erode amid sanctions on the warring nation. View the full article
Environmentalists are calling on the Biden administration to crack down on methane leaks from low-producing U.S. oil wells, after new research shows they are releasing a disproportionate share of the potent greenhouse gas. View the full article
The combined entities will offer advanced milling and swarf handling services to deliver permanent, verifiable, emission-free well barriers and highly predictable alternative zonal isolation solutions to the plugging and abandonment industry. View the full article
Improving the imaging of the geology offshore Oman is both resolving uncertainties in the thrusts and fold belt plays and imaging the hitherto illusive stratigraphy below the decollement surface. View the full article
The energy crisis triggered by Russia’s invasion of Ukraine is increasing the world’s motivation to shift to low-carbon energy, but is also creating a near-term scramble for fossil fuels that will drive billions of dollars of new investment. View the full article
Spears & Associates Managing Director Richard Spears’ talk, titled, How extreme financial discipline impacts drilling activity in 2022 and 2023, outlined what has caused oil companies to display uncharacteristic financial restraint, despite surging oil prices. View the full article
Energy Workforce and Technology Council CEO Leslie Beyer said the Biden Administration’s plan to restart limited lease sales on federal lands, while raising royalty fees paid by oil and gas producers, and its decision to restore stricter reviews under NEPA will not significantly increase American energy security or immediately reduce energy costs for the consumer. View the full article
Halliburton Co. said North American oil and natural gas drillers will lift spending by 35% this year, an increase from the biggest fracer’s pre-Russian war forecast. View the full article
The regulations will slow the permitting process for critical energy infrastructure dramatically and create new obstacles not only for natural gas and oil development but also the deployment of CCUS and hydrogen infrastructure, API said. View the full article
The long-recognized significant safety risks associated with the manual emergency release of mooring systems are minimized with PODx (Powered Offshore Disconnect), a new automatic actuation system from Gall Thomson. View the full article
Shale explorers in the Permian Basin chewed further into their supply of ready-made wells for a 20th straight month, leaving the smallest inventory of low-cost wells in the biggest U.S. oil field in more than half a decade. 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.
