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BP announced a significant milestone with the safe start-up of the Manuel project in the US Gulf of Mexico, the fourth of five major projects expected to be delivered globally in 2021. View the full article
Pavilion Energy Trading and Supply and BP Singapore have signed a long-term LNG sale and purchase agreement for the supply of approximately 0.8 million tons of LNG per year to Singapore for 10 years from 2024. As part of the agreement, both companies will strive to co-develop and implement a greenhouse gas quantification and reporting methodology. View the full article
BP sold out of Canada’s oil sands, divesting its stake in the Sunrise project to Cenovus Energy Inc. while acquiring offshore exploration from the same company in the east of the country. View the full article
BP sold out of Canada’s oil sands, divesting its stake in the Sunrise project to Cenovus Energy Inc. while acquiring offshore exploration from the same company in the east of the country. View the full article
As world leaders discuss the fight against climate change, global oil demand has bounced back above the key level of 100 million barrels a day last seen before the Covid-19 pandemic, according to BP Plc. View the full article
BP announced that it is developing plans for the UK’s largest blue hydrogen production facility, targeting 1GW of hydrogen production by 2030. The project would capture and send for storage up to two million tons of CO₂ per year. View the full article
BP Plc plans to build a green hydrogen facility in northeast England that could start producing the gas by 2025, part of a massive project to help the oil major transition toward cleaner sources of energy. View the full article
BP paid tax on its UK North Sea business in 2021 for the first time in at least six years, according to the company’s latest payments to governments report. View the full article
The London-based oil and gas company is looking to fill 100 offshore-wind jobs in the UK and the U.S., a figure which could double by the end of the year. The recruitment drive comes even as thousands of other employees have left the company amid a wider restructuring. View the full article
Oil and gas producers Tailwind Energy Ltd., Serica Energy Plc, Ithaca Energy Ltd., EnQuest Plc and newcomer Waldorf Production UK Ltd. have been considering binding offers for some or all of the assets, according to people familiar with the matter. View the full article
Energy giant BP sees a strong recovery in global crude demand and expects it to last for some time, with U.S. shale production being kept in check, according to CEO Bernard Looney. View the full article
BP’s energy transition plan will receive a boost from rising oil prices, and the company is already winning back investors after a difficult year, Chief Executive Officer Bernard Looney said. View the full article
OGUK today announced the details of its Annual Conference. The three-day virtual conference entitled ‘Industry in Transition: Driving A Net Zero Energy Future’ will take place online between June 1-3, 2021. View the full article
BP’s board urged shareholders to reject a climate resolution filed by Dutch activist investor Follow This, despite pledging to work with the group last year to draft such a proposal. View the full article
Wood, the global consulting and engineering company, has been awarded a multi-region engineering services contract by bp to support efficient and safe energy production through the provision of asset repairs, modifications and enhancements. View the full article
“When you consider the 20-gigawatt target we’ve laid out until 2025, it’s a significant move forward,” Dev Sanyal, BP’s head of gas and low-carbon energy, said in an interview. View the full article
Governor Greg Abbott signed a bill into law on Monday banning state investments in businesses that cut ties with the oil and gas industry. The underlying message, according to one of the most powerful energy regulators in the state, is simple: Boycott Texas, and we’ll boycott you. View the full article
After mooring lines installation in June, towing and hook up in July, Bourbon Subsea Services completed the offshore installation of the 3,6 MW TetraSpar Demonstrator Floating Wind Turbine at Metcentre Test site in Norway, by laying and connecting the power cable earlier this week. The wind turbine will be commissioned in the coming weeks. View the full article
Boris Johnson urged the oil majors BP Plc and Shell Plc to invest “massively” in renewables to shore up the U.K.’s energy security, as soaring prices squeeze household budgets. View the full article
Boris Johnson said he wants to keep North Sea oil and gas flowing to help tackle the rising cost of living and urged companies to boost investment. View the full article
Bonanza Creek Energy and Extraction Oil and Gas will combine in an all-stock merger of equals, a deal worth about $2.6 billion, the companies announced. The combined company will be called Civitas Resources, Inc. and will be the largest pure-play energy producer in Colorado’s Denver-Julesburg (DJ) Basin. View the full article
Brazilian President Jair Bolsonaro said Thursday that he wants to privatize Petrobras, the state-controlled oil company that is under political pressure to lower fuel prices. View the full article
Block Energy plc, an exploration and production company focused on Georgia, announced the commencement of Project II of its three-project strategy, which will re-develop the Patardzeuli Middle Eocene reservoir. View the full article
Block also increased oil production to 151,184 bbls and gas production to 283 MMcf, resulting in an average daily production rate of 543 boed. Additionally, the company raised $2 million via a secured loan to undertake drilling operations on Project I and completed the Project IV farm-out, achieving a carried work program valued at over $3 million (gross). View the full article
Secretary of State Antony Blinken said it was ‘unlikely’ the U.S. and Iran would reach a new nuclear deal anytime soon, adding to Western officials’ downbeat assessment over the prospects for reviving an accord that President Donald Trump abandoned in 2018. 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.
