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“They blocked us, they sanctioned us, they stole all our foreign assets,” said Venezuelan oil minister Tareck El Aissami. “Without any financing, with our own money, we’ve been able to invest enough to stop the slide and start a gradual recovery.” View the full article
(WO) — Venezuela’s Vice President Delcy Rodríguez met with Indian energy officials on Friday to explore new oil and gas partnerships between both countries. View the full article
Venezuela intelligence police have transferred the six Citgo Petroleum Corp. executives who where under house arrest to its headquarters, lawyers for the men said. View the full article
Cisneros, who is chairman of Cisneros Corporation, is entering a joint venture with PDVSA through Globalable Holding SL. The JV known as Petrocabimas is based in the western Zulia state and is projected to quadruple current production to 50,000 bpd by 2026, Cisneros said in a statement. PDVSA did not reply to a request for comment. View the full article
Venezuela creditors are holding a rare meeting in Davos next week to discuss potential opportunities in the oil sector amid increasing optimism for investment in the country as the U.S. floats easing some sanctions. View the full article
Venezuela’s state-owned oil company imported a key component needed to achieve its goal of almost tripling crude production, defying U.S. efforts to isolate the Maduro regime’s grip on power. View the full article
(WO) – Venezuela detained former Oil Minister Pedro Tellechea over the weekend as part of an internal purge at the state-owned oil company, PDVSA, after President Nicolás Maduro’s disputed reelection. 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
VARD has secured contracts for the design and construction of three Service Operation Vessels (SOVs) for North Star Renewables in Scotland. The state-of-the-art hybrid trio will operate on the Dogger Bank Wind Farm in the North Sea. View the full article
Vard Electro has been awarded a contract for an innovative hybrid battery power system with Atlantic Towing to be integrated on their vessel Atlantic Shrike. Atlantic Towing is the first company to implement this multiple mode application of battery technologies on a single vessel in the Canadian offshore oil and gas industry. View the full article
The Vår Energi-operated Cerisa exploration well in production license PL 636 offshore Norway was successful, with estimated gross recoverable resources of between 18-39 MMboe. View the full article
(WO) — Ocean services provider DeepOcean has been awarded an inspection, maintenance and repair (IMR) campaign by Vår Energi for 2025. The scope also includes additional light construction work to be completed within the same year. View the full article
(WO) — Vantage Drilling International announces the first day of trading its shares on Euronext Growth Oslo. The listing follows a series of value accretive transactions, including the previously announced MoU with TotalEnergies. View the full article
Ecuador’s oil production is likely to halt completely within 48 hours if road blocks and vandalizing of oil wells continue, the Energy Ministry said in an emailed statement. View the full article
The National Ocean Industries Association has named Vallourec as the winner of the inaugural NOIA Environmental, Social, & Governance Excellence Award. View the full article
Following a call for tender, Vallourec has been awarded a contract by TotalEnergies to supply almost 5,000 tonnes of OCTG solutions and associated services for the Kaminho deepwater project on Block 20, 100 km offshore Angola. View the full article
Vallourec low-carbon high performance OCTG solutions will contribute to the development of the Bacalhau and Raia fields operated in the pre-salt, as well as the Peregrino field in the post-salt, while contributing to Equinor's Energy Transition Plan to reach net zero by 2050. View the full article
The first three of the seven Nong Yao C development wells were opened up for oil production on Aug. 15, 2024, with additional wells to be brought online successively thereafter. Valeura intends to sustain Nong Yao production rates at approximately 11,000 bpd for the remainder of the year 2024. View the full article
Valero Energy Corp.’s trading division was the largest buyer of crude oil in the Biden administration’s second sale of emergency stocks that were part of the White House’s efforts to combat surging energy prices after Russia invaded Ukraine. View the full article
Valaris Limited has been awarded a multi-year contract with Equinor Energy do Brasil Ltda., a subsidiary of Equinor ASA (“Equinor”), for drillship VALARIS DS-17. The contract relates to work offshore Brazil on Project Raia. Equinor’s project partners are Repsol Sinpoec Brazil (35%) and Petrobras (30%). View the full article
Offshore drilling company Valaris Limited and the Valaris Group announced the company emerged from Chapter 11 bankruptcy at the end of April. View the full article
Amid surging caseloads that are stressing medical facilities in West Texas, Pioneer Natural Resources Co. is offering employees a one-time vaccine incentive of $1,000, the company said in an email. Devon Energy Corp. is offering $500 to workers that show proof they took the jab by Oct. 15. View the full article
According to the joint operating agreement, which was approved by the government of Equatorial Guinea in March 2024, the PSC provides for a development and production period of 25 years from the date of approval. View the full article
Some of the high-impact technologies in 2019 no longer have the same economic punch in today’s Covid-19-battered market. At the same time, say some operators and innovators, some of the overlooked or low-impact technologies now are extremely useful, even transformative. View the full article
In an effort that has been underway for several years and is now set against a backdrop of triple-digit oil prices, oil and gas companies are continuing attempts to devise new methods of increasing production from existing unconventional wells. 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.
