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Oil ended the day little changed after a volatile session in which the latest U.S. inflation report and data showing high prices hitting U.S. fuel demand roiled prices. View the full article
OPEC and its allies are expected to revive more oil supplies when they meet next week, underscoring the group’s optimism in the outlook for global demand. View the full article
The American Petroleum Institute, joined with more than 80 trade groups representing a diverse cross section of industries, have called on the Biden administration to act on policies that support U.S. energy security and increase domestic production of natural gas and oil. View the full article
Oil slid by the most since August, falling from overbought territory amid concerns around global economic growth. View the full article
Canada’s top energy official said Prime Minister Justin Trudeau’s government is open to accelerating a liquefied natural gas project that could start supplying Europe in as soon as three years. View the full article
Waterborne gasoline and diesel loadings out of the U.S. Gulf Coast surged to 1.88 million barrels per day so far this month, on track to bring monthly volumes to a record in data going back to January 2016. View the full article
Saitec Offshore Technologies and RWE achieved another milestone in the DemoSATH project with the successful completion of the launching operation of the floating unit. 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
TotalEnergies SE Chief Executive Officer Patrick Pouyanne said it’s “too early” for the French oil major to consider spinning off its renewable-energy business because that segment may triple in value by 2025. View the full article
Exxon Mobil Corp. shares rose to the highest intraday level ever Wednesday and are on track to close at a record, stoked by an almost 60% surge in crude prices that’s lifting oil supermajors and complicating efforts to fight global inflation. View the full article
The North Sea Transition Authority has reminded licensees of the obligation to collaborate effectively and ensure transactions are completed promptly, to support investment in the UK Continental Shelf. View the full article
Halliburton Company and VoltaGrid LLC have entered into a multi-year contract with Aethon Energy to deploy an advanced, all-electric fracturing solution in the Haynesville Shale. View the full article
Aimed at scaling up private sector investment in African oil and gas projects, the bank will provide critical financing for new and existing oil and gas projects, as well as energy developments across the entire value chain. View the full article
Now in its second year, this program is free to students and educators and its mission is to empower and encourage them to delve into the energy industry and its many career fields through a variety of video showcases, virtual tours, and virtual visits to classrooms by respected professionals. View the full article
Royal Dutch Shell Plc mounted a robust defense against activist investor Dan Loeb’s bid to split the company, and pension funds that are dumping its shares, saying the company’s integration of oil, gas and renewables is key to delivering the energy transition. View the full article
Tullow Oil Plc agreed to acquire Capricorn Energy Plc in an all-share deal combining resources in Africa and opening up opportunities for expansion across the continent. View the full article
Shell Australia and its joint venture partner, SGH Energy, have taken a final investment decision to approve the development of the Crux natural gas field, off the coast of Western Australia. View the full article
Shale explorers in the Permian Basin chewed further into their supply of ready-made wells for a 20th straight month, leaving the smallest inventory of low-cost wells in the biggest U.S. oil field in more than half a decade. View the full article
Frac sand, which gets blasted through shale rocks to unlock oil and natural gas, is averaging $55 a ton, up from $22 at the end of 2021. Demand is climbing as oil explorers turn the taps back on after Covid-driven cutbacks. View the full article
The U.S. and its allies have discussed trying to cap the price on Russian oil between $40 and about $60 a barrel, according to people familiar with the matter. View the full article
OEUK warmly welcomes the news that Stuart Payne has been appointed to lead the North Sea Transition Authority at what continues to be a crucial and challenging period for the industry. View the full article
Touchstone Exploration Inc. announced that the company received the Certificate of Environmental Clearance it needed to conduct development operations within the Cascadura area of the Ortoire block. View the full article
In response to high interest from submitting authors, the new deadline to submit abstracts is August 8, 2022. The Congress will take place from September 17-21, 2023, in Calgary, Alberta. View the full article
A recent ultra-deepwater giant drillships build resulted in two drillships that have the first-ever 20,000 psi well control system equipped with two 20,000 psi blowout preventers. View the full article
Qatar, the world’s biggest exporter of liquefied natural gas, said it would be wrong to commit to eliminating planet-warming emissions without having a proper plan in place. 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.