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As Australia shifts towards renewable energy, optimizing existing gas production fields remains crucial to meeting rising global energy demands. View the full article
Offshore Energies UK (OEUK) is set to launch a research tool which will provide governments, skills bodies, and the energy industry in the UK with the information needed to have the right people with the right skills in place at the times and locations where they are needed. View the full article
Mermaid Subsea Services has successfully completed what is believed to be the largest vessel-based U.K. North Sea decommissioning campaign in history. The project spanned two years and involved the plugging and abandonment (P&A) of 21 wells. 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
TGS and WesternGeco announced the continuation of their ultra-long offset ocean-bottom node acquisition in Green Canyon, U.S. Gulf of Mexico. Data processing and imaging are by WesternGeco. 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
Baker Hughes agreed to sell its Oilfield Services business in Russia to its local management team, and the business will operate independently going forward, the company announced. View the full article
Subsea7 announced that the heavy construction/flex-lay vessel Seven Arctic is to be equipped with a new energy-saving system. View the full article
The companies will integrate advanced digital capabilities, including artificial intelligence (AI), with new and existing applications on SLB’s extensible Delfi digital platform, adhering to the Open Group’s OSDU Technical Standard. View the full article
OPEC+ made no changes to plans to start gradually reviving oil production towards the end of the year, despite signs of an impending surplus. View the full article
The Oil & Gas Decarbonization Charter (OGDC) has published its Baseline Report, setting a foundation to help prioritize and track progress on emissions reductions made by the 54 oil and gas companies — representing almost 45% of the global oil production, that have signed up to the Charter’s ambitions. View the full article
President Biden's focus on fiscal spending, a probable lack of urgency in lifting sanctions on Iran and restrictions on the North American energy industry all combine to support oil prices, Goldman Sachs analysts wrote in a note dated Jan. 21. View the full article
Baker Hughes and Horisont Energi AS have signed a memorandum of understanding for the Polaris carbon storage project off the northern coast of Norway. Under the agreement, the two companies will explore the development and integration of technologies to minimize the carbon footprint, cost and delivery time of carbon capture, transport and storage (CCTS). View the full article
West Texas Intermediate for June delivery tumbled 1.4%, while global benchmark Brent also declined. Stock markets fell on inflation fears, while the dollar climbed, hampering prices. There was also an increase in U.S. crude stockpiles last week, the American Petroleum Institute reported. View the full article
“The positive activity momentum we see in North America and international markets today, combined with our expectations for future customer demand, gives us conviction for an unfolding multi-year upcycle,” CEO Jeff Miller said. View the full article
European gas prices surged more than 10% as Russia is keeping its grip on the market, opting to cap additional flows to the continent. View the full article
Shell Offshore Inc. has safely and successfully re-started production at its Mars and Ursa platforms in the US Gulf of Mexico and began exporting oil and gas through the West Delta-143 (WD-143) “A” facility. View the full article
Germany and Austria came out strongly against the European Union proposal to classify some natural-gas and nuclear projects as sustainable investments, with both countries accusing the bloc of “greenwashing.” 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 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
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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.
