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Global experts and professionals in the carbon capture, utilization, and storage (CCUS) space, which is experiencing rapid growth, gathered together Wednesday on day one of Gulf Energy Information’s two-day Carbon+Intel Forum in Houston. View the full article
Located within an emerging basin, 60 km offshore Principe, Block STP02 covers an area of 4,969 km2. Block STP02 is adjacent to the Block STP01 license operated by TotalEnergies (55%) alongside Sonangol (30%) and ANP-STP (15%). View the full article
One of the fastest-growing corners of China’s energy market is facing a potentially devastating blow as Xi Jinping’s government increases scrutiny of high-emission fuels. View the full article
British insurer Legal and General Group Plc became the largest-yet Exxon Mobil Corp. investor to support an activist campaign to overhaul the oil giant’s board and make its climate goals more ambitious. 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 world will have to wait until October for additional oil supplies as output losses from Hurricane Ida wipe out increases from OPEC+, the International Energy Agency said. View the full article
OPEC+ headed for a clash with the U.S. as more members rejected President Joe Biden’s call for the group to raise oil production faster and help reduce gasoline prices. View the full article
Logan Industries International Corporation has successfully delivered a subsea grease injection unit as part of a complete subsea wireline pressure control system for a major subsea oil and gas company. View the full article
Billions of pounds of investments aimed at building the UK’s net zero energy infrastructure could be diverted to other countries if politicians keep threatening to impose windfall taxes, the chief executive of Offshore Energies UK warns. View the full article
Shale executives have dramatically dialed back their oil-price expectations over the past three months as recession risks weigh on the market, according to the latest energy survey by the Federal Reserve Bank of Dallas. View the full article
Aramco and Sempra have executed a non-binding Heads of Agreement (HoA) for a 20-year sale and purchase agreement (SPA) for liquefied natural gas (LNG) offtake of 5.0 million tonnes per annum (MMtpa) from the Port Arthur LNG Phase 2 expansion project. View the full article
Granite Ridge acquired 51 gross (4.7 net) future drilling locations for $12.6 million. The estimated future development costs for the acquired properties is $50 million. The acquisitions include assets in the Midland, Delaware, DJ, Williston and Appalachian basins. View the full article
If the first initial public offering of a U.S. shale driller in four years is any indication, Wall Street is still souring on the U.S. oil and gas patch. View the full article
Enbridge Inc. said it will continue to ship crude through its Line 5 pipeline that crosses the Great Lakes, despite Michigan Governor Gretchen Whitmer’s deadline Wednesday to shut the conduit. View the full article
ABB’s new online platform Ability Marine Fleet Intelligence – Advisory combines the power of cloud-based analytics and reporting with user-friendly visualizations to help shipowners, managers and charterers optimize ship performance fleet-wide. View the full article
Iraq cut the price of its banner crude for U.S. customers sharply, a bold deviation from what Saudi Arabia chose to do with its own barrels just a few days ago. View the full article
Exxon Mobil Corp.’s multiyear effort to extricate itself from a groundbreaking Iraqi oil deal may hinge on the involvement of one of the world’s biggest frackers. View the full article
ADNOC and TAQA announced a $3.6 billion strategic project to significantly decarbonize ADNOC’s offshore production operations, further strengthening ADNOC and TAQA’s position in driving and leading sustainability efforts and supporting the UAE’s ‘Net-Zero by 2050 Strategic Initiative’. View the full article
Energy companies will need to provide updates each quarter on how they’re boosting clean energy investments in order to avoid a UK windfall tax on their surging oil and gas earnings, British government minister Alok Sharma said. 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
Subsea7 has entered into four long-term vessel charter agreements with Otto Candies LLC and Bordelon Marine LLC, to strengthen offshore construction, inspection, maintenance and repair, ROV survey, and pipe/umbilical laying support operations, in the Gulf of Mexico. View the full article
More than 50% of oil executives told the Dallas Fed they foresee lower domestic crude production if the consolidation trend continues for five years, according to second-quarter survey results released Wednesday. View the full article
Equinor's exit from Suriname is part of a broader strategy, having exited about 20 countries in recent years, including South Africa, Mexico, and Russia, the latter due to the invasion of Ukraine. View the full article
TechnipFMC has entered into an agreement with Magnora ASA to jointly pursue floating offshore wind project development opportunities under the name Magnora Offshore Wind. View the full article
Rising global oil prices are translating into shortages at the pump in cash-strapped Lebanon, with motorists lining up for hours to fill their tanks in the latest blow to living standards in the Middle Eastern nation. 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.