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Providing more detail on Exxon’s recently-announced efforts to commercialize low-carbon technologies, CEO Darren Woods stressed that partnering with outside investors would be a key objective. It would also mean Exxon would not need to fund large projects solely with its own cash. View the full article
The South Sudan Oil Licensing Round aims to attract interest from a diverse group of foreign investors to a region that is already home to oil and gas majors from China and Malaysia. View the full article
INEOS is renewing its offer to the UK government and the new Prime Minister Liz Truss to drill a shale gas test well in the UK. View the full article
Oil prices surged to the highest levels in nearly two years after the OPEC+ alliance surprised traders with its decision to keep output unchanged, signaling a tighter crude market in the months ahead. View the full article
BP Plc is beefing up its bid to develop wind projects off Scotland’s coast with the promise of creating hundreds of local jobs if it wins. View the full article
Buoyed by high oil prices, the bosses of the biggest explorers this week laid out a vision for the energy transition that hinges on more fossil-fuel investment rather than less. View the full article
Following the dramatic recovery in U.S. steel production last year - a more than 18% year-on-year increase - the market is increasingly losing momentum. View the full article
Shape the future of energy at the 24th World Petroleum Congress 2023 Technical Conference. Abstracts will be considered if submitted before Thursday, July 7. View the full article
Chesapeake Energy Corp. said its assets in the Eagle Ford Shale have drawn a “tremendous amount of interest” as the U.S. company pursues a sale in order to become a pure-play natural gas producer. View the full article
The surprise move by OPEC+ to maintain oil supply restrictions through April, coupled with Saudi Arabia’s decision to extend voluntary curbs, has stunned the global energy market. Prices surged again on Friday, with West Texas Intermediate topping $65 a barrel, and Brent climbing above $68. View the full article
BJ Energy Solutions' first 40,000 Horsepower (HHP) TITAN fleet began a phased deployment in the Haynesville on Jan. 5, becoming fully operational by Jan. 31. View the full article
Amid the rusted remnants of Venezuela’s once-mighty oil industry, a motley crew of obscure drillers has achieved a feat few thought possible: It’s more than doubled the country’s crude production in the space of a year. View the full article
South Sudan is taking steps to take over the operations of international oil companies in the country to increase its share of revenue, even as production declines, according to a government official. View the full article
The depreciation and uplift rules in the special tax for petroleum will be replaced by immediate expense recognition of investments, or cash flow tax, from 2022, Finance Minister Jan Tore Sanner told reporters in a snap press conference in Oslo. View the full article
Shell Plc is in talks to sell its fuel stations in Russia as it withdraws from the country in response to the invasion of Ukraine. View the full article
As Europe faces an energy crunch that’s pushed wholesale natural gas and power prices to record levels, French utility Engie SA is launching a trial of new contracts that would curb peak demand from households. View the full article
The U.S. Department of Energy is actively aligning funds and programs to further support the thriving offshore wind industry, specifically projects in the US Gulf of Mexico and Central Atlantic. View the full article
In honor of the late H.E. Muhammad Sansui Barkindo – oil industry veteran and former Secretary General of the Organization of Petroleum Exporting Countries (OPEC) – the African Energy Chamber renamed its African Energy Week Lifetime Achievement Award to the Mohammad S. Barkindo Lifetime Achievement Award. View the full article
The global oil market is calling out for a substantial increase in supplies, but OPEC+ is expected to provide only a fraction of what consumers are demanding. View the full article
Railroad Commission of Texas Chairman Wayne Christian applauds the Texas oil and gas
industry following the Texas Comptroller of Public Accounts’ announcement of record-breaking tax revenues from the industry. View the full article
Global controls technology company Proserv Controls has received industrial sponsorship for its disruptive subsea cable condition monitoring system for the offshore wind segment, ECG, or Electro Cable Guard, from ScottishPower Renewables. View the full article
Oil booms typically spark a chase for higher production -- but not this time. All five supermajors have kept their capital expenditure budgets firmly in check and pledged that this discipline will hold in future years. View the full article
Senate Democrats began using a special procedure to undo parts of Donald Trump’s regulatory agenda, starting by rescinding a measure that made it harder for the Environmental Protection Agency to limit leaks of the powerful greenhouse gas methane from oil and gas wells. View the full article
With these two new operated exploration blocks, TotalEnergies expands its position in Suriname, an emerging world class basin. A 3D seismic acquisition campaign will be carried out on these 2 licenses to confirm their potential. View the full article
The Biden administration shouldn’t ban the export of crude oil, a bipartisan group of House lawmakers said in a letter to Biden. 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.