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Personnel have been evacuated from a total of 171 production platforms, 46% of the 371 manned platforms in the Gulf of Mexico. Evacuations have also commenced from three non-dynamically positioned rigs, equivalent to 60% of the five rigs of this type currently operating in the Gulf. A total of four DP rigs have moved off location out of the storm’s path as a precaution. This number represents 20% of the 20 DP rigs currently operating in the Gulf. View the full article
The history behind CEM (Corrosion-Erosion Monitor) is a story of how failures can lead to success. Acoustic guided waves were the solution necessary to achieve reliable wall thickness monitoring of pipes. View the full article
Aramco has signed a shareholders’ agreement with Linde and SLB, paving the way for development of a Carbon Capture and Storage (CCS) hub that is expected to become one of the largest globally. View the full article
To stop global temperatures from rising above 1.5 degree Celsius from pre-industrial levels, carbon prices must surge to $160 per ton of CO2 by 2030, up from a global average of $22 at the end of last year, Wood Mackenzie said in a report. View the full article
Oil rose to the highest intraday in a week as expectations strengthened for a revival in global consumption despite the resurgent pandemic in India and Brazil. View the full article
Moscow is considering making a proposal that the group should ease a global supply deficit by increasing output, according to Russian officials familiar with the matter. Other OPEC+ nations are also discussing a potential supply hike in August, although specific numbers haven’t been mentioned. View the full article
Sarawak Shell Berhad, a subsidiary of Royal Dutch Shell plc, announced that it has taken a final investment decision on the Timi gas development project and, together with its partners PETRONAS Carigali Sdn Bhd and Brunei Energy Exploration, look forward to delivering this for Malaysia. 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
Returning to the U.S. for the first time in 30 years, the 23rd World Petroleum Congress (WPC) got off to a fast start on Monday in Houston. Considered the epicenter of the global energy debate, Houston is easily recognized as the energy capital of the world, home to 4,600 energy firms. View the full article
Oil rallied as supply concerns took center stage with the EU threatening to ban Russian supplies this year and U.S. regional fuel inventories dropping to record lows. 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
Petrodec, a decommissioning services specialist, has commenced on the decommissioning of the Amethyst A2D platform in the Amethyst gas field in the UK Southern North Sea. View the full article
TotalEnergies EP (Brunei) B.V. owns and operates a 37.5% interest in Block B, alongside Shell Deepwater Borneo (35%) and Brunei Energy Exploration (27.5%). Block B, located 85 km offshore Brunei, contains the Maharaja Lela/Jamalulam (MLJ) field, which started producing in 1999 and represented a net production for TotalEnergies of approximately 9,000 boed in 2023. View the full article
The cost to drill and frac new wells in U.S. shale basins is expected to drop about 10% this year as explorers look to get more for less amid record output, according to a report from Wood Mackenzie. View the full article
by extending safe operating windows, Akselos can help operators avoid over $100 million in lost production by potentially avoiding unnecessary dry dock. The software also allows FPSO operators to extend the operational life of assets by removing unwanted and overly conservative fatigue estimates, powered by the Akselos RB-FEA technology. View the full article
(WO) — Eni and KKR have signed an agreement under which KKR will take a 25% stake in Enilive’s share capital, for a total of €2.938 billion. The transaction brings together both companies' expertise to strengthen their energy businesses. View the full article
ADNOC has signed a second Sales and Purchase Agreement (SPA) for the lower-carbon Ruwais liquified natural gas (LNG) project, with Malaysia’s Petronas. The 15-year SPA is for supplying 1 million tonnes per annum (mtpa) of LNG. View the full article
Secretary Granholm proposed a progressive agenda for energy research and innovation, to help the Biden Administration achieve net zero greenhouse gas emissions by 2050, and carbon/pollution-free energy generation by 2035. View the full article
Gas flaring satellite data from 2020 reveals that Russia, Iraq, Iran, the United States, Algeria, Venezuela and Nigeria remain the top seven gas flaring countries for nine years running, since the first satellite was launched in 2012. View the full article
Oil retreated after hitting $75 a barrel in London for the first time in more than two years, as Russia and other OPEC+ nations were said to consider increasing production. View the full article
Recoverable volumes from Troll phase 3, which will produce the Troll West gas cap, are estimated at as much as 347 billion cubic meters of gas. Converted into oil equivalent this amounts to 2.2 billion barrels. View the full article
Russia is keeping a tight grip on Europe’s energy market, opting against sending more natural gas to the continent even after President Vladimir Putin said he was prepared to boost supplies. View the full article
In the debate over why U.S. oil producers haven’t added additional supply, the boss of ConocoPhillips lays the blame squarely with the government. View the full article
Concerned about the growing safety risk posed by corrosion and other structural integrity issues associated with the global floating production fleet, American Bureau of Shipping pulled together an industry working group 18 months ago. View the full article
Varel Energy Solutions (VES) announced it has acquired Sledgehammer Oil Tools, an international leader in the supply of oilfield casing, cementing and completion products. 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.
