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China’s widening power crisis, which has forced rationing across the country and threatens to derail economic growth, is prompting policy makers to rethink the pace of the nation’s energy transition. View the full article
Chevron Corp. lifted its production target in North America’s biggest oil field in a sign that U.S. shale is responding to $100-a-barrel crude despite rising cost pressures and equipment shortages. 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
OPEC Secretary-General Mohammad Barkindo, an oil industry veteran who steered the group through the creation of the OPEC+ alliance, has died in his native Nigeria. He was 63. View the full article
Hungary told its European Union counterparts that it will cost at least 770 million euros ($810 million) to revamp its oil industry as they wrangle over potential sanctions that would target Russian supplies. View the full article
Around half of Gazprom PJSC’s foreign clients have complied with a request from Russia’s president to open accounts with Gazprombank JSC, according to Deputy Prime Minister Alexander Novak. View the full article
NexTier Oilfield Solutions Inc. shares soared more than 20% after the frac provider disclosed higher-than-expected quarterly sales, signaling an acceleration in U.S. shale drilling. View the full article
Europe’s energy crisis and a spike in natural gas prices are proving to be a boon for Norway, delivering a flood of revenue for the country that’s already one of the world’s richest. 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
TechnipFMC has been awarded an additional contract and received notice to proceed by ExxonMobil affiliate Esso Exploration and Production Guyana Limited for its Yellowtail development in the Stabroek Block offshore Guyana. View the full article
Equinor ASA sold assets in the North Sea for $1 billion as it seeks to benefit from high oil prices and redirect proceeds to other core businesses. View the full article
The oil pact OPEC+ launched at the outset of the pandemic is finally nearing an end, and where the group goes from here is a politically fraught question. View the full article
The Ministry of Petroleum of the Republic of Niger announced the country has reached a new milestone in furthering the regional gas market through the progressing construction of the multi-billion Trans-Saharan Gas Pipeline alongside Algeria and Nigeria. View the full article
Located 20 nautical miles (37 km) from the coast, the lease covers a 120 square nautical miles area (222 sq km) that will generate a capacity of more than 1 GW, enough to provide power to more than 300,000 homes. View the full article
Well construction expert DeltaTek Global announced its QuikCure® technology has received a U.S patent, confirming the unique attributes and technical make-up of the company’s rapid cement hydration offering. View the full article
The American Petroleum Institute announced a new initiative designed to attract more veterans and transitioning service members into meaningful and well-paying careers in the natural gas and oil industry. View the full article
The U.K. got less than a quarter of its oil supplies from its own fields last year, compared with about 9% from Russia. And domestic output is dropping fast — down by 10% in the first quarter from a year earlier after companies cut investment or spent their cash elsewhere. View the full article
More U.S. shale producers should aim for net-zero emissions, while drillers that have already made climate pledges need to set more aggressive timelines to reach their goals, according to investor Kimmeridge Energy Management. View the full article
Sembcorp Marine Ltd, through its wholly owned subsidiary, Sembcorp Marine Offshore Platforms Pte. Ltd., has entered into an Engineering, Procurement, Construction and Installation contract with a major energy company for a gas topsides project in Australia. View the full article
U.S. oil production remains on track for a record 2023 even as output grows more slowly than anticipated amid surging costs and labor shortages in America’s shale fields. View the full article
Subsea Integration Alliance is a worldwide non-incorporated alliance between Subsea 7 and Schlumberger’s OneSubsea subsea technologies, production and processing systems business. 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
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
Forum Energy Technologies (FET) has delivered two work-class ROV sales to Brazilian marine engineering company Oceanica Engenharia e Consultoria Limitada to support its deepwater intervention operations and strengthen its offering to the energy sector. View the full article
Newly introduced crew connectivity requirement adds support to calls for improved seafarer welfare — and emphasizes value of Fleet Hotspot to crew and ship owners. 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.