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The Railroad Commission of Texas moved forward in its application process to gain primacy from the EPA for Class VI injection wells. View the full article
Oil posted a monthly gain of 11% on signs that consumption is outpacing supply and draining stockpiles. View the full article
Neptune Energy announced the completion of a first-of-its-kind collaboration with Environmental Defense Fund (EDF) to measure methane emissions on a working UK offshore platform using advanced drone technologies. View the full article
Nigeria’s Senate will investigate Shell Plc’s historic license renewals in the West African state to determine whether they were extended unlawfully and cost the government up to $200 million. View the full article
The UK Oil and Gas Authority has awarded a carbon dioxide appraisal and storage license to Harbour Energy, boosting the drive to reach net zero greenhouse gas emissions by 2050. View the full article
Armed clashes, damaged storage tanks and political protests at key ports have hobbled Libya’s ability to export oil, cutting shipments to the lowest level since October 2020. View the full article
Mubadala Petroleum announced that the drilling of the Timpan-1 exploration well offshore North Sumatra, Indonesia, has been completed with the discovery of a 390-foot gas column. View the full article
OPEC producers will need to pump crude at the fastest pace in five years in 2023 if they are to balance oil supply and demand. Capacity constraints suggest they may struggle. 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
Harold Hamm, one of the richest and most prominent shale wildcatters, is finally taking a stake in North America’s biggest oil field. View the full article
“We have pretty significant positions in emerging basins in Guyana and Argentina and we’re looking at farm-down opportunities there,” Chief Executive Officer Rahul Dhir said in an interview in Dubai. View the full article
Perenco announced it has completed the acquisition of Glencore’s corporate entities holding its entire Chad Upstream oil interests. View the full article
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Oil pared gains after OPEC+ decided to maintain its current pace of supply increases despite President Joe Biden’s calls for more output, prompting speculation that the U.S. may tap its strategic reserves. View the full article
The Biden administration is launching an assault on methane Tuesday, advancing initiatives across government - and the globe - to keep the potent, heat-trapping gas from escaping landfills, oil wells and farms. View the full article
At a time when global oil markets are experiencing significant volatility, member countries of OPEC+ have the means to address these challenges, and Equatorial Guinea will continue to support efforts to improve market stability. View the full article
Major operator bp expects its properties in the U.S. Gulf of Mexico to remain a key part of its portfolio over the next decade, even as other upstream operations are discarded in the transition to alternative energy forms. View the full article
African hydrocarbon producing countries are increasing oil and gas licensing rounds to be able to stabilize supply of hydrocarbons in years to come to meet growing energy demand as output in legacy projects declines. View the full article
The U.S. government projected that the global oil market will become oversupplied and prices will fall by early next year, cooling expectations that the White House may tap the nation’s emergency reserves. View the full article
TotalEnergies SE took a $4.1 billion writedown on its flagship Russian gas project and indicated that it may belatedly join its peers in pulling back from the country two months after the invasion of Ukraine. View the full article
The drive to reach net zero greenhouse gas emissions by 2050 has taken a sizeable step forward with the award of two carbon storage licenses in the Southern North Sea. View the full article
U.S. shale drillers are expected to post record second-quarter profits in coming days, reversing nearly a decade of debt-fueled losses. View the full article
Devon Energy Corp. agreed to acquire Validus Energy for about $1.8 billion in cash to expand in the Eagle Ford shale patch in South Texas. View the full article
Whitecap Resources Inc., a Canadian conventional and shale driller, plans to increase natural gas activity in the second half of the year to capitalize on a surge in prices, Chief Executive Officer Grant Fagerheim said. View the full article
OPEC’s top diplomat told European Union officials that the current crisis in global oil markets caused by Russia’s invasion of Ukraine is beyond the group’s control. 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.