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Shale drillers Diamondback Energy, Devon Energy and Coterra Energy are boosting dividends while keeping oil output flat despite pleas from President Joe Biden to increase supplies and help take some the edge off of inflation. View the full article
Exxon Mobil Corp. pledged to zero out some greenhouse-gas emissions in North America’s biggest oilfield by the end of the decade. View the full article
African nations should resist pressure from “powerful interests” to hastily abandon fossil fuels to avoid hurting their economies, Angola’s President Joao Lourenco said. View the full article
The report highlights the need to fully understand the scope and scale of the challenge for these sectors and identifies a significant gap versus the pace of decarbonization necessary to achieve net-zero goals to limit global warming to 1.5C by 2050. View the full article
As the race to number 10 accelerates, Offshore Energies UK has written open letters to Rishi Sunak and Liz Truss asking them to help consumers over the short and long term by ensuring the next cabinet prioritizes reliable and cleaner energy produced in the UK. View the full article
U.S. natural gas futures climbed after winter stockpiles of the furnace and power-plant fuel expanded less than expected, heightening concerns about adequate supplies going into the peak-demand season. View the full article
GPA Midstream Association, an organization representing America’s midstream energy industry, announced that Kevin Broom has been named Vice President of Communications. View the full article
Russia’s President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman discussed continued cooperation within OPEC+ in a phone call, according to a statement from the Kremlin. View the full article
The merger will create one of the largest providers of mutual cover in the maritime industries with consolidated annual premiums of around $750 million. View the full article
The OPEC+ coalition will likely hold firm to its oil production plans this week even as the European Union moves to sanction group member Russia, delegates said. View the full article
Bosses for some of the biggest oil explorers in the Permian Basin say their industry could be hurt if crude climbs above $100 a barrel. View the full article
Oil traders are scooping up options contracts that would pay out if U.S. crude futures plummet against international benchmark Brent, a signal that some believe the Biden administration could intervene in the market again to bring down oil prices. 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
The UK Treasury is set to collect record revenue from oil and gas this year, with or without a windfall tax. View the full article
Wood has been awarded the Principal Designer and Pre-FEED scope for Salamander, the 100MW floating wind farm development located 35km off Peterhead in the East Coast of Scotland. View the full article
OPEC+ agreed to increase the size of its oil-supply hikes by about 50%, in a deal that kept Russia at the heart of the cartel while also heeding pressure from major consumers including the U.S. View the full article
Sercel has announced the sale of a 15,000 channel WiNG system to Smart Seismic Solutions (S3), a French seismic and geophysical survey contractor, on Tuesday. View the full article
The nation’s shipments to buyers have declined for five consecutive weeks, taking them down by 480,000 barrels a day, or 13%, since mid-June. That's based on a rolling four-week average that helps to provide a better picture of the trend than the observation of flows from one week to the next. View the full article
The American Petroleum Institute filed reply comments to FERC continuing to express concerns that the commission’s two revised policy statements would chill investment in critical natural gas infrastructure. View the full article
Exxon Mobil Corp., Marathon Petroleum Corp. and the other top U.S. oil refiners are on course to reap a combined $10 billion in profits this quarter even as U.S. President Joe Biden lambasts the industry for closing plants. View the full article
Royal Dutch Shell Plc faces a growing campaign against its plans to conduct a seismic survey of potential oil and gas reservoirs off South Africa’s rugged coastline. View the full article
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
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
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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.