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Oil at $100 a barrel cannot be ruled out in 2023 as supply additions are expected to be too slow to keep up with record demand, according to Goldman Sachs Group Inc. View the full article
Stephen Chazen, the former chairman, president and CEO of Magnolia Oil & Gas Corporation and former CEO of Occidental Petroleum, has died after an illness. He was 76. View the full article
Sercel and Kappa Offshore Solutions introduced PIKSEL, a compact marine seismic solution specially designed for acquiring seismic data for high-resolution 3D imaging of targeted offshore areas. View the full article
The Biden administration’s release of crude from U.S. emergency reserves in an effort to cool oil’s rally is going into a second round, with bids due by the first working day of the year. View the full article
The war in Ukraine has prompted Europe to reshape its energy policy, and once-snubbed U.S. LNG is now a key part of a European Union’s strategy to wean itself off Russian gas expected to be outlined this week. View the full article
The Biden administration plans to ease sanctions on Venezuelan oil in a bid to bring more of the country’s crude to Europe. View the full article
The state-controlled firm created a new team to review its assets last year, soon after the coronavirus pandemic triggered a plunge in energy prices and strained its balance sheet. Aramco raised $12.4 billion by selling leasing rights over oil pipelines to a U.S.-led group of investors in April. View the full article
Phillips 66 may idle a New Orleans-area refinery that suffered so much damage during Hurricane Ida that repairs may be too costly, according to people familiar with the operation. View the full article
The recovery of the shale patch workforce is still years in the making despite the frothy profits that rallying crude prices are generating for U.S. oil companies and their contractors. View the full article
The potential emergency order that Biden is mulling would unlock broad executive powers to propel clean-energy construction, restrict oil drilling and curb fossil fuel use. View the full article
Chevron’s pledge of “ever-cleaner energy” amounts to so-called greenwashing because it hides the reality that the company’s production plans may end up increasing absolute emissions, according to a Federal Trade Commission complaint filed by Global Witness, Greenpeace USA and Earthworks. View the full article
Nigeria’s state-owned energy firm will now operate as a commercial entity without relying on government funding and direct controls, President Muhammadu Buhari said on Tuesday. View the full article
Schlumberger and NOV announced a collaboration to accelerate automated drilling solutions adoption by oil and gas operators and drilling contractors. The agreement will enable customers to combine Schlumberger surface and downhole drilling automation solutions with NOV’s rig automation platform to deliver superior well construction performance. View the full article
Russian Finance Minister Anton Siluanov warned the Kremlin needs to brace for falling revenues after a stress test showed the global clean energy push could lead to a significant decline in demand for fossil fuel exports. View the full article
Centennial Resource Development Inc., a shale oil producer in the Permian Basin, agreed to acquire private equity-backed rival Colgate Energy in a cash-and-stock deal valued at about $2.5 billion. View the full article
(WO) — One of the more interesting and thoughtful panel sessions last week at Schlumberger’s Digital Forum in Luzern, Switzerland, was focused on the Energy Transition. The discussion of what should be done and how to do it, along with who should lead the way, was far-ranging. View the full article
Executives from Exxon Mobil, Chevron, Royal Dutch Shell and BP were urged by U.S. lawmakers to abandon the leading oil-industry trade group, and cut off funds to any groups sowing doubts about climate science. View the full article
Iran warned that proposed U.S. legislation targeting the Islamic Republic could further imperil stalled Biden administration efforts to resurrect the moribund nuclear deal. View the full article
Oil rebounded after a U.S. government report showed rapidly declining inventories and record-high fuel demand in the midst of the peak summer travel season. View the full article
As U.S. House Democrats inch closer to striking a deal on a massive Budget Reconciliation package with their counterparts in the Senate, it is important to note the potential implications for jobs in the upstream sector of the U.S. oil and gas industry. View the full article
Woodside Petroleum Ltd. almost certainly won investor approval to boost global oil and gas production by adding BHP Group assets while also facing a rebuke on its climate accounting. View the full article
The scope covers a complete subsea production system including four horizontal subsea trees, three manifolds, control systems, three static subsea umbilicals, as well as associated tie-in equipment and installation work. View the full article
The latest data from the group indicate that the world will continue to face an oil supply deficit in the coming months even as its members revive idle production. View the full article
Wood has further strengthened its position as the leading partner for operations solutions in the UK North Sea following a series of contract awards with key clients in the fourth quarter of 2021, including Shell UK and Dana Petroleum. View the full article
Oil majors that want to reduce their carbon footprint will have to shift their activities to energy basins where drilling rigs can be powered by renewables and which have ample space for carbon sequestration, a report indicates. 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.
