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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
Baker Hughes and Akastor ASA have announced an agreement to create a joint venture company that will bring together Baker Hughes’ Subsea Drilling Systems business with Akastor’s wholly owned subsidiary, MHWirth AS. View the full article
Baker Hughes has announced it is acquiring AccessESP, a provider of advanced technology for artificial lift solutions, to further transform core oil and gas operations by reducing costs and downtime for operators. View the full article
B3 CEO and co-founder Kelly Bennett said "This program is a commitment by B3 and its members to put words to action through collaboration and transparency to create meaningful solutions.” View the full article
B3 Insight announced the launch of a complete produced water dataset that covers all of North Dakota including the extensive Bakken Shale Play. View the full article
B3 Insight announces the completion of the data disclosure pilot for the WaterSage Certification developed in partnership with B3’s Oilfield Water Stewardship Council (OWSC) members. View the full article
AVEVA, says 85% of industrial businesses plan to increase their investment in digital transformation over the next three years in order to tackle climate change, embrace automation and unlock the performance benefits of advanced technologies. View the full article
The new Connected Build solution optimizes project efficiency and improves sustainability outcomes for capital projects across the power, energy, chemicals and mining industries. View the full article
The combined portfolio brings OSIsoft’s world-class data management together with AVEVA’s leading industrial software to unlock Performance Intelligence. View the full article
Australia should include “caveats” in any net-zero greenhouse-gas emissions pledge to allow it to suspend climate-change commitments should regional areas of the economy be negatively impacted, according to a senior government lawmaker. View the full article
Australia will challenge a court ruling that orders the government to consider climate change impacts from a planned coal mine expansion, a decision seen as clouding the prospects for any new fossil fuels projects. View the full article
There have been signs across the oil market of traders expecting tighter supplies following the Saudi cuts. The shape of the Brent futures curve returned to backwardation earlier this week, meaning more immediate prices are trading at premiums. View the full article
“Going forward into April and May, we’re going to see pretty significant increases in demand,” said Bart Melek, head of commodity strategy at TD Securities. “At this point, however, prices are a little overdone. The market is assuming a little too much in terms of what OPEC+ will do.” View the full article
Asian liquefied natural gas traders are rushing to secure shipments from the U.S., where the fuel is among the cheapest in the world despite what’s turning into the steepest price run in two decades. View the full article
Asia’s emergence as global natural gas trading superpower will increasingly dictate market rates in Europe for a once-localized commodity that was simply linked to the price of oil. View the full article
Asian demand for U.S. oil is rising as the energy crisis boosts prices for other crudes that are priced against the global Brent futures contract. View the full article
Asia’s relentless buying of liquefied natural gas earlier this year has left the region so well stocked for winter that spot shipments are being diverted to energy-hungry Europe. View the full article
With the Paris Agreement's decarbonization plans suddenly not ambitious enough for the West, key Middle East producers see an opportunity, and are putting serious money down to cover their bets. View the full article
For the past year, oil consuming countries have become increasingly anxious at crude’s resurgence: first to $50 a barrel, then $75 and now to more than $85. And when Vladimir Putin, one of the leaders of the OPEC+ cartel, warned that $100 a barrel was a distinct possibility, the alarm bells really started ringing. View the full article
YPF is aiming for capital expenditures this year of $2.7 billion, as it tries to halt four years of production declines. After the coronavirus pandemic decimated revenue and the debt swap yielded limited results, getting there will require increasing fuel prices, cutting drilling costs, selling local debt, and maybe divesting assets. View the full article
Argentina believes a price ceiling would prevent bull runs in oil markets from triggering a surge in fuel prices, while a price floor would discourage oil companies from pulling out of a marginal asset like Vaca Muerta if markets collapse. View the full article
Shale drillers are showing so much financial self-discipline that next year’s oil-production forecasts may be in peril, according to Tudor, Pickering, Holt and Co. View the full article
The world’s biggest oil company reiterated its warning that producers’ spare capacity is running low and said there wouldn’t be any left once China ends its Covid Zero strategy. View the full article
Focused on driving sustainability in the region through digital transformation, the partnership will help enable AVEVA to establish their largest digital hub, with an RandD capability, in the Middle East, headquartered in Saudi Arabia. View the full article
Saudi Aramco taking the crown of the world’s most valuable company from Apple Inc. underscores investors’ appetite for oil and gas as the countries around the globe battle rampant inflation and fear of energy shortages. 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.
