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Fairfield Energy announced the end of an era with the removal of the topsides from Dunlin Alpha. This is the latest milestone in the decommissioning of the four fields which make up the Greater Dunlin Area. View the full article
The oil pact OPEC+ launched at the outset of the pandemic is finally nearing an end, and where the group goes from here is a politically fraught question. View the full article
Billionaire Harold Hamm is poised to throw off the shackles of shareholder discipline so that Continental Resources Inc. can maximize windfall profits. View the full article
The White House believes the Organization of Petroleum Exporting Countries has room to raise oil production, should an upcoming visit by President Joe Biden to the Middle East yield any agreements. View the full article
The U.K. got less than a quarter of its oil supplies from its own fields last year, compared with about 9% from Russia. And domestic output is dropping fast — down by 10% in the first quarter from a year earlier after companies cut investment or spent their cash elsewhere. View the full article
CSA Ocean Sciences Inc. announced the conclusion of an Environmental Assessment Program for a major offshore energy operator in Block 58, a 5,841 km2 area approximately 115 km (71 mi) offshore north Suriname in South America. View the full article
Iraq approved a state company’s potential purchase of Exxon Mobil Corp.’s interest in a huge oil field in the south of the country. View the full article
Subsea Integration Alliance is a worldwide non-incorporated alliance between Subsea 7 and Schlumberger’s OneSubsea subsea technologies, production and processing systems business. View the full article
The Interior Department said it “will not move forward” with two Gulf lease auctions that were planned under former President Barack Obama “as a result of delays due to factors including conflicting court rulings." View the full article
Mexico could slash Pemex’s taxes further as the world’s most indebted oil company scrambles to reverse long-term oil production declines. View the full article
Two months after negotiators left Vienna, expectations are fading that Iran nuclear talks will resume, leaving the world with the remains of an agreement no one’s willing to pronounce dead. View the full article
Urgent moves to bring forward the construction of “energy islands” – giant new offshore renewable energy conversion and transmission plants – are being supported by a major new safety advisory and assurance study. View the full article
Diamondback Energy Inc. just gave one of the first shale production forecasts for next year, and it’s holding pat. View the full article
Some U.S. lawmakers are seizing on the energy price surge to revive long-standing legislation that would subject the OPEC oil cartel to the same antitrust laws used more than century ago to break up Standard Oil’s monopoly. View the full article
Russia’s Rosneft PJSC is proceeding with its flagship Vostok Oil project in the Arctic, Chief Executive Officer Igor Sechin said, just over a week after a key partner announced it’s exiting the development over the invasion of Ukraine. View the full article
After many weeks of signaling and speculation, a group of major oil consumers including the U.S. has announced a coordinated plan to tackle soaring energy costs by releasing crude from strategic reserves. The question now is whether it’s going to work. View the full article
Recently introduced digitalization and automation technologies are enabling better performance on new build and retrofitted rigs. View the full article
Shell Plc said soaring margins from fuel production may have added more than $1 billion to the earnings of its refining business last quarter, when gasoline prices broke records in several countries. View the full article
The difference in business models of shale wells and offshore projects explains why it’s so difficult for oil giants such as Shell to quickly ramp up production when geopolitical disruptions like Russia’s war in Ukraine upend markets. View the full article
National Ocean Industries Association President Erik Milito said Interior has had 16 months to fulfill its statutory obligation to develop and maintain an offshore oil and gas leasing program and it has failed. View the full article
The U.S. may allow more sanctioned Iranian oil onto global markets even without a revival of the 2015 nuclear accord, according to the biggest independent crude trader. View the full article
Shale drillers saw their debt burden fall further in the second quarter, signaling extra room for them to pay dividends, buy back shares or make acquisitions. View the full article
President Joe Biden said he’ll ask U.S. allies in the Persian Gulf region to boost oil production when he meets with them during a trip to Saudi Arabia next month, one of the key avenues he has to address surging inflation costs at home. View the full article
China is releasing some oil from its strategic reserves days after the U.S. invited it to participate in a joint sale, suggesting the world’s two biggest oil consumers are willing to work together to keep a lid on energy costs. View the full article
Oil and gas exploration and production companies in the North Sea are set to miss out on billions of dollars of cash after the UK implemented a windfall tax on energy firms to tackle the rising cost of living. 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.