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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
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
Schlumberger’s decarbonization plan leverages technology to address operational emissions, customer emissions, and carbon-negative actions. View the full article
Clariant’s Oil and Mining Services business has officially opened its new, state-of-the-art Eagle Ford Technology, Sales and Operations Center near San Antonio, TX. View the full article
It may have taken an investor rebellion, a pandemic and a war in Europe, but U.S. shale oil and gas producers are now on the cusp of making back their losses from the last decade. View the full article
West Texas Intermediate crude futures dropped as much as 10%, the most since March 9, while oil headed for its worst trading day in almost three months as recession fears iced markets, outweighing a fundamentally tight supply market. View the full article
Repair work to a vital Nigerian oil terminal is expected to be completed in late September, meaning almost two months of halted flows. View the full article
A key spread between monthly oil futures contracts has blown out to the widest level in seven years as traders bet that U.S. crude inventories are about to get a whole lot tighter. View the full article
BP’s energy transition plan will receive a boost from rising oil prices, and the company is already winning back investors after a difficult year, Chief Executive Officer Bernard Looney said. View the full article
A set of reports due to be published in the coming months will show how companies in the UK’s offshore oil and gas industry supply chain can expand to cleaner energies, including carbon capture, usage and storage (CCUS), hydrogen and offshore wind. View the full article
Nigeria lost its crown as Africa’s largest crude producer as Angola surpassed the country for the first time in more than five years. View the full article
Wednesday, the Senate approved language calling for Senate negotiators to support the issuance of a new Five Year Program for offshore oil and gas leasing as soon as possible and that the new program should include at least two area-wide lease sales per year. View the full article
Frac sand, which gets blasted through shale rocks to unlock oil and natural gas, is averaging $55 a ton, up from $22 at the end of 2021. Demand is climbing as oil explorers turn the taps back on after Covid-driven cutbacks. View the full article
KBR is launching a study to develop a carbon-neutral, green ammonia-based system to power a semi-submersible drilling unit owned by Odfjell. View the full article
BP announced a significant milestone with the safe start-up of the Manuel project in the US Gulf of Mexico, the fourth of five major projects expected to be delivered globally in 2021. View the full article
Oil rebounded from an eight-month low as the market shrugged off a U.S. report showing swelling crude stockpiles and slumping demand. View the full article
Providing more detail on Exxon’s recently-announced efforts to commercialize low-carbon technologies, CEO Darren Woods stressed that partnering with outside investors would be a key objective. It would also mean Exxon would not need to fund large projects solely with its own cash. View the full article
The South Sudan Oil Licensing Round aims to attract interest from a diverse group of foreign investors to a region that is already home to oil and gas majors from China and Malaysia. View the full article
INEOS is renewing its offer to the UK government and the new Prime Minister Liz Truss to drill a shale gas test well in the UK. View the full article
Oil prices surged to the highest levels in nearly two years after the OPEC+ alliance surprised traders with its decision to keep output unchanged, signaling a tighter crude market in the months ahead. View the full article
BP Plc is beefing up its bid to develop wind projects off Scotland’s coast with the promise of creating hundreds of local jobs if it wins. View the full article
Buoyed by high oil prices, the bosses of the biggest explorers this week laid out a vision for the energy transition that hinges on more fossil-fuel investment rather than less. 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.