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European refiners continue to lap up North Sea crude to seek replacements for Russian oil in response to the war in Ukraine. View the full article
Half-year data points for the offshore market released by Clarksons Research, profiling improving activity, utilization and day rates across the offshore oil and gas market, show the overall index is up 17%. View the full article
Shale drillers saw their debt burden fall further in the second quarter, signaling extra room for them to pay dividends, buy back shares or make acquisitions. View the full article
The UK government’s decision to impose a 65% tax rate on the nation’s offshore energy providers will do long-term damage to the industry – and raise the risk of future energy shortages, OEUK has told the government. 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
Saudi Arabia’s finance minister echoed warnings from the kingdom’s oil officials that a slowdown in fossil-fuel investment globally will cause spikes in energy prices. View the full article
Assuming that comments from conference participants are reflective of the industry’s overall mood, then the pace of digital transformation in oil and gas is gaining momentum in 2022. View the full article
Urgent moves to bring forward the construction of “energy islands” – giant new offshore renewable energy conversion and transmission plants – are being supported by a major new safety advisory and assurance study. View the full article
Shell Plc is set to receive two final offers this week for its onshore oil and gas fields in Nigeria, according to people with knowledge of the matter. View the full article
Wood, a global consulting and engineering company, announced the appointment of Azad Hessamodini as Executive President of its Consulting business and the latest member of the firm’s executive leadership team. View the full article
Worley and Chevron Corporation have entered into a global master services agreement covering Chevron’s upstream, midstream, and downstream business needs. View the full article
The industry body for the UK offshore energy industry welcomed the UK Government’s decision to change the Energy Profits Levy in response to concerns from the country's offshore oil and gas companies. View the full article
President Joe Biden acknowledged that OPEC+ countries won’t increase oil output enough to meet U.S. demands and left the door open to a range of options, as the administration weighs whether to tap the Strategic Petroleum Reserve. View the full article
Longboat Energy, an emerging full-cycle North Sea E&P company, announced the commencement of drilling operations on the Cambozola exploration well in Norway. View the full article
Deirdre Michie OBE has today formally announced that at the end of 2022 she will hand over the reins after almost eight years as Chief Executive of Offshore Energies UK. View the full article
Petrofac, a global energy industry services provider, has been selected by i3 Energy to provide well engineering, well operations and well operator services for its UK North Sea license areas. View the full article
The oil producers’ group OPEC+ will likely take a cautious stance when deciding this coming week whether to go ahead with planned output increases after the emergence of a new coronavirus variant sent crude prices tumbling, according to Vitol Group. View the full article
Cost-efficient emissions reductions of up to 87% on offshore oil and gas platforms could be achieved using alternative power sources, according to the winners of a competition launched to accelerate electrification of oil and gas assets in the North Sea. View the full article
Some EU leaders are leaning toward a deal that would ban seaborne oil while temporarily sparing deliveries through a key pipeline to give landlocked Hungary more time. View the full article
Abu Dhabi National Energy Company PJSC (TAQA), one of the largest utilities in Europe Middle East and Africa, completed the strategic review of its oil and gas business announced in September 2021. View the full article
Varel Energy Solutions (VES) announced it has acquired Sledgehammer Oil Tools, an international leader in the supply of oilfield casing, cementing and completion products. View the full article
Oil producer Cenovus Energy Inc. said it may spend hundreds of millions more than planned this year as it absorbs an acquisition in Alberta and restarts an offshore project off the coast of Newfoundland. View the full article
U.S. natural gas collapsed to the lowest level in more than four months as record-high temperatures kill heating demand ahead of winter. View the full article
Oil rallied as supply concerns took center stage with the EU threatening to ban Russian supplies this year and U.S. regional fuel inventories dropping to record lows. View the full article
Export prices for OCTG from China appear to be softening as the Covid lockdown in Shanghai begins to ease but cases in Beijing are now on the rise. 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.