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A record rally in natural gas prices in Europe doesn’t mean it’s become lucrative to send every available molecule to the region. View the full article
President Joe Biden should “back off” from domestic anti-oil policies if he wants to keep crude prices in check, according to one of America’s biggest shale drillers. View the full article
Russian gas giant Gazprom PJSC missed its own “conservative” target for 2021 exports to Europe, and those capped flows contributed to the continent’s worst energy supply crunch in decades. View the full article
Iran’s foreign currency earnings from exports of oil, gas condensate, natural gas and petrochemicals rose more than 60% from March 21 to May 21, compared to the same period last year. View the full article
Energy Workforce continues to digest the potential reconciliation deal — the “Inflation Reduction Act” — in the Senate. Initial thoughts are mixed; some provisions may be beneficial to our sector while others will be negative. View the full article
Brazilian state-owned oil and gas producer Petrobras awarded Sembcorp Marine Rigs & Floaters Pte, a wholly-owned subsidiary of Sembcorp Marine, a $3.05 billion contract for the P-82 FPSO vessel through an international tender. View the full article
To date, Apex has drilled 10 wells. Six of the 10 drilled wells are currently producing, one has been completed as a water supply well for a water injection project, two are discoveries waiting on completions, and one was a dry hole. View the full article
India’s Swan Energy Ltd. plans to sell its stake in a floating liquefied natural gas (LNG) terminal to Turkey’s state-run Botas for $399 million. View the full article
Government-owned Abu Dhabi National Oil Co. picked Occidental to explore for oil and natural gas at a block in the desert along the UAE’s border with Oman, ADNOC said Wednesday in a statement. The block is adjacent to an exploration area that ADNOC awarded to Occidental last year. View the full article
Covid-19 cases are surging in India and threatening the economy’s recovery from a rare recession, while in Southeast Asia, demand has hit a plateau and is unlikely to reach pre-virus levels until the end of 2021 or later. View the full article
Mikhail Ulyanov, Russia’s representative at the United Nations’ International Atomic Energy Agency, said that while significant progress had been made by officials seeking to orchestrate a U.S. return to the pact abandoned by then-President Donald Trump, “unresolved issues still remain.” View the full article
Less than 15% of the $2.4 trillion in government spending to support the post-pandemic economic recovery has gone to investments in clean energy, according to the International Energy Agency. View the full article
The West Delta-143 facilities serve as the transfer station for production from Shell’s assets in the Mars corridor in the Gulf of Mexico to onshore crude and natural gas terminals. View the full article
Southwestern Energy Company announced that it has entered into a definitive agreement with the third largest private Haynesville producer – GEP Haynesville, LLC under which it will acquire GEP for approximately $1.85 billion. The transaction is expected to close by year-end 2021, subject to customary closing conditions. View the full article
Libya expects its oil production to drop by another 200,000 barrels a day over the next week as workers try to fix a damaged pipeline. View the full article
ADNOC Drilling Company announced it has signed a sale and purchase agreement to acquire an additional two premium offshore jack-up drilling units. View the full article
Dolphin Drilling secured a year-long, $96 million contract with Nigerian based General Hydrocarbons Limited for the Blackford Dolphin rig. The contract will commence in the fourth quarter of this year. View the full article
OPEC produced an average of 26.98 MMbpd in June, or 80,000 bpd less than during the previous month, according to a Bloomberg survey. Small reductions in Iraq and Nigeria drove the decline. View the full article
As Australia shifts towards renewable energy, optimizing existing gas production fields remains crucial to meeting rising global energy demands. View the full article
While OPEC’s third-largest producer will still reduce supply to Asia in January, the curbs won’t be as deep as this month in percentage terms. View the full article
The oil demand recovery in Europe, a region that accounts for about 15% of global consumption, looks set to take a fresh hit as the continent struggles to deal with another wave of coronavirus cases that could curb summer travel plans. View the full article
“The so-called CLEAN Future Act is nothing more than the Green New Deal in lipstick,” said Texas Railroad Commissioner Wayne Christian. “This legislation would effectively federalize regulation of oil and gas, increasing costs to consumers and our national debt, while harming our energy independence and national security.” View the full article
“As global economies continue to recover from the COVID-19 pandemic, we are seeing strong demand for energy-related products originating in Texas,” said Sean Strawbridge, Chief Executive Officer for the Port of Corpus Christi. View the full article
The collaboration agreement creates a new offering for customers by combining LYTT’s fiber optic data analytics and cloud-based software with Baker Hughes’ completions and well intervention hardware and service expertise. View the full article
For U.S. President Joe Biden, the easy part was threatening a response. Now comes the tougher challenge of delivering one, or risk looking impotent in his struggle with the oil cartel. 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.