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Chevron and NNPC signed documents on the conversion of five OMLs into four PPLs and twenty-six PMLs, in line with the new PIA terms, marking a significant step towards increasing domestic gas supply and expanding global market presence. View the full article
The combined solution will address challenges in locating, re-entering and re-abandoning legacy wells that penetrate, or pass through, offshore oil and gas reservoirs or saline aquifers that have been earmarked to be repurposed for carbon dioxide (CO2) or hydrogen storage. View the full article
Chevron, ExxonMobil and Shell are among the companies taking measures such as evacuating workers from vulnerable installations, suspending drilling activities, and shutting in some wells. The storm’s forecast path intersects with fields that account for roughly 125,000 bpd and 300 MMcfgd. Francine may rake nine major platforms, including Enchilada, Cerveza, Perdido and Hoover. View the full article
Transocean Ltd. has secured a $232 million contract with bp for its Deepwater Atlas drillship in the U.S. Gulf of Mexico. View the full article
Global oil markets are poised to swing from a deficit to a surplus next quarter should OPEC+ proceed with provisional plans to bring back idled production starting in October, data last week from the International Energy Agency showed. View the full article
C-5H will be operator Empire Energy’s longest drilled and stimulated horizontal shale well and will target a ~3,000 m horizontal section and ~60 fracture stimulation stages. C-5H will integrate the best completion practices from North American shale analogues and incorporate learnings from Carpentaria-2H and Carpentaria-3H. View the full article
A Norwegian Offshore Directorate analysis of exploration activity from 2004-2023 shows that the discoveries are valued at three times the costs expended. 50 of 190 offshore discoveries have been developed and are producing, leaving three-quarters still to be developed. These investments will remain profitable as more fields come on stream. View the full article
In the nine months through March, South Sudan produced 150,000 bpd. This plunged 70% in the final three months of the fiscal year after its main export pipeline ruptured in February. Last week, President Salva Kiir’s office signaled progress in plans to restore production after a meeting with Sudan’s military leader Abdel Fattah Al-Burhan in Juba. View the full article
The Liwan 4-1 well was tested to produce 430,000 cmd of absolute open flow natural gas. The well is located in Baiyun Sag, the largest oil and gas-rich sag in the Pearl River Mouth basin, about 300 km southeast of Shenzhen, with a water depth of nearly 1,640 m. View the full article
NES, specializing in sustainable energy design and smart control systems for vessels, will deliver a containerized energy storage system that includes a “Quest” battery charger, a 1 MW battery package, and a control system. The system is capable of operating in peak shaving, spinning reserve and harbor mode. View the full article
TotalEnergies has signed an agreement with Lewis Energy Group to acquire a 45% interest in dry gas producing assets owned and operated by Lewis Energy Group in the Eagle Ford basin in Texas. View the full article
The plant design will feature electric-driven LNG trains instead of gas turbines, reducing greenhouse gases emissions compared to conventional LNG projects. It will also include prefabricated and standardized modules to be assembled at the project site in Mozambique, offering cost competitiveness and certainty in delivery schedule. View the full article
World oil consumption is set to increase by 17.9 MMbpd, or roughly 18%, to 120.1 MMbpd by 2050, the Organization of Petroleum Exporting Countries said in its annual long-term outlook. It raised estimates covering the next two decades from last year’s report. View the full article
The Transocean Spitsbergen rig drilled the well in production license 199 in the Haltenbanken Vest Unit in the Norwegian Sea. Preliminary estimates place the size of the discovery in the range of 2-4 MMcm of recoverable oil equivalent. View the full article
Total executives used a $50-to-$60-a-barrel benchmark to test the viability of oil projects when presenting them for board approval, and is “very close” to approving a 220,000 bpd project in Suriname, CEO Patirck Pouyanne said at a conference in Rio de Janeiro. View the full article
AI-related electricity demand is expected to translate to between 6 - 13 Bcfgd in the short term, Toby Rice, EQT’s chief executive officer, said Tuesday. That compares with current total US consumption of just over 100 Bcfd. View the full article
The main production facilities include a new fixed production platform and three centralized subsea wellheads, with 12 development wells planned to be commissioned. It is expected to reach peak production of 162 MMcfgd and 3,931 bpd in 2025. View the full article
To finalize the deal, however, Chevron and Hess still need to prevail in arbitration against Exxon Mobil Corp. and Cnooc Ltd., who claim a right-of-first-refusal on Hess’ biggest asset — a 30% stake in a massive oil field offshore Guyana. The case, currently being administered by the International Chamber of Commerce, is likely to be settled in the third quarter of 2025. View the full article
Upon closing, the combined company will be the largest natural gas producer in the U.S. and assume the name Expand Energy Corporation. View the full article
The agreement builds on the work deployed across APA’s global portfolio over the past three years and introduces new artificial intelligence capabilities with Palantir’s Artificial Intelligence Platform (AIP) software. View the full article
The Onshore Block 2, located within the Al Dhafra region of Abu Dhabi covering an area of over 7300 km2, is PETRONAS Abu Dhabi’s third concession, following the Unconventional Block 5 in 2024 and the Unconventional Block 1 in 2022. View the full article
To finalize the deal, however, Chevron and Hess still need to prevail in arbitration against Exxon Mobil Corp. and Cnooc Ltd., who claim a right-of-first-refusal on Hess’ biggest asset — a 30% stake in a massive oil field offshore Guyana. The case, currently being administered by the International Chamber of Commerce, is likely to be settled in the third quarter of 2025. View the full article
The discussions are over blocks in nations including Namibia, South Africa and Angola, Petroleo Brasileiro SA’s head of exploration and production, Sylvia dos Anjos, said in an interview. Petrobras is studying a total of 10 opportunities to partner with oil majors in Africa as the Latin American company tries to capitalize off its expertise in developing deep-water wells, Anjos said. View the full article
The supermajor is working on developing the deepwater Owo project, Nigerian Vice President Kashim Shettima said after meeting Exxon Nigeria chairman Shane Harris. The company also proposed to spend $2.5 billion annually to boost oil output by 50,000 bpd over the next few years, Shettima said. 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.
