← Go back to All Blogs
The Gulf Energy Alliance (GEA) joined the States of Louisiana, Texas, and Mississippi in a legal challenge to the Department of Interior’s (DOI) Bureau of Ocean Energy Management’s (BOEM) decommissioning rule imposing unnecessary and burdensome financial requirements targeting independent offshore oil and natural gas producers. View the full article
The contract scope includes project management, engineering, procurement, construction and installation (EPCI) of a 22km 12” water injection pipeline. Subsea7’s scope also includes associated subsea structures and tie-ins at the Triton Floating Production Storage & Offloading (FPSO) vessel and the Bittern field. View the full article
The scope of work is focused on two FPSO (floating production, storage, and offloading) units, namely Greater Plutonio and PSVM. The work comprises engineering, procurement, and construction services (EPC) of the brownfield maintenance and modifications scopes. View the full article
The transaction still needs to get past the U.S. Federal Trade Commission as well as the ongoing arbitration case brought by Exxon over control of Hess’ interest in the oil field offshore Guyana. Exxon has said the proceedings may drag into 2025. View the full article
Emerson’s suite of Roxar downhole monitoring tools will empower Equinor to use advanced oil recovery techniques, optimize reservoir performance and verify well integrity in real time. The Rosebank field is estimated to contain over 300 MMbbl of recoverable oil resources. View the full article
The estimated global expenditure on hydrogen production for energy purposes from now until 2050 is expected to reach $6.8 trillion, with an additional $180 billion allocated for hydrogen pipelines and $530 billion for the construction and operation of ammonia terminals. View the full article
The SARB and Umm Lulu offshore concessions deploy cutting-edge digitalization and AI technologies for remote monitoring, smart well operations and production management to optimize production efficiency, reduce emissions, enhance safety and increase production capacity. View the full article
The country’s current daily production of about 1.2 MMboed is projected to drop to 0.7 MMboed in 2030 by industry regulator the North Sea Transition Authority. “Getting things right” and moving forward all investment opportunities currently under consideration by companies would temper that decline, meaning production in 2030 would be 0.9 MMboed, OEUK said in its Economy and People report on Tuesday. View the full article
Abu Dhabi National Oil Co. (ADNOC) will purchase the stake in the Area 4 concession from Galp Energia SGPS SA, it said in a statement Wednesday. Galp will receive $650 million, and further contingent payments of as much as $500 million when two planned development phases go ahead, the Portugese company said in a separate statement. View the full article
The oil and gas and basic industry sectors are expected by Barclays to be the most active for M&A during the next year.
This week alone, Energy Transfer LP agreed to buy WTG Midstream in a $3.25 billion deal, while ConocoPhillips announced a $17 billion deal for fellow producer Marathon Oil Corp. View the full article
OPEC and its allies agreed on Sunday to gradually wind down about 2 MMbpd of production cuts starting in October. Since then, crude prices have fallen more than 3% in London, dipping below $80 a barrel as analysts question whether the market can absorb this extra supply. View the full article
The Italian oil and gas company is working with advisers including Standard Chartered Plc on the possible stake sale, the people said, asking not to be identified as the information is private. Eni could sell up to 30% of the business and is drawing interest from other energy companies, including from Asia, the people said. View the full article
SBM Offshore announced that a Fast4Ward hull for the Block 58 development project offshore Suriname has been reserved by TotalEnergies. The announcement is in line with the Front End Engineering and Design (FEED) studies for a Floating Production, Storage and Offloading vessel (FPSO) for the development project. View the full article
The Permian Strategic Partnership (PSP) is welcoming Energy Transfer and Phillips 66 as its newest members, expanding to 31 members. In the five years since its founding, the PSP has nearly doubled in size and exponentially expanded its impact in Southeast New Mexico and West Texas. View the full article
Since 2019, China has snapped up an additional 850,000 bpd of so-called NGLs and polymers, the IEA said in its Oil 2024 report, which is effectively the agency’s medium-term outlook. That accounts for just over half of demand growth for all oil products over the period. View the full article
Baker Hughes’ integrated approach will deploy wireline, coiled tubing, cementing, tubular running, wellbore intervention, fishing, and geosciences services in all of Petrobras’ offshore fields. The agreement also includes Baker Hughes remedial tools, completion fluids and production chemicals. View the full article
The Vaca Muerta, Spanish for dead cow, is an oil and gas field in western Argentina, which is said to have natural gas reserves that rival the Permian basin. Its shale oil production, currently at about 300,000 bpd, is expected to grow to more than 1 MMbpd by 2030. View the full article
The Islamabad-based company is targeting oil production of about 50,000 bpd in the next four or five years, from 33,000 bpd currently, Chief Executive Officer Ahmed Hayat Lak said in an interview. The goal is for natural gas production to climb above 900 MMcfd from 720 MMcfd. View the full article
Sintana Energy Inc. has closed its acquisition of an initial 49% interest in Giraffe Energy Investments (Pty) Ltd. Giraffe is the owner of a 33% interest in Petroleum Exploration License 79, which governs blocks 2815 and 2915, located inboard of blocks operated by BW Energy, Rhino Resources and Shell. View the full article
Vallourec low-carbon high performance OCTG solutions will contribute to the development of the Bacalhau and Raia fields operated in the pre-salt, as well as the Peregrino field in the post-salt, while contributing to Equinor's Energy Transition Plan to reach net zero by 2050. View the full article
Trendsetter Engineering, a provider of subsea oil and gas equipment and services, has been awarded a significant contract by Trident Energy do Brasil to deliver two six-slot production subsea manifolds for the Bonito and Bicudo Fields offshore Brazil. View the full article
Despite signals indicating the job market is beginning to flatten, the oil field services sector remains a vital component of the national economy, showcasing resilience amid broader economic fluctuations. While the national economy added a better-than-expected 272,000 jobs in May, the unemployment rate experienced a slight increase to 4%. View the full article
The first phase of decommissioning commenced in February, with Elemental Energies providing well management services from its Houston office for the plugging and abandonment of wells in the Matagorda Island area, offshore Texas. View the full article
The London-based major now aims to reduce its net carbon intensity by 15% to 20% by 2030, compared with a previous target of 20%. View the full article
The software is a fully adaptive, self-learning, and continuously improving system that addresses the unique challenges and requirements of drilling. The AI agent finds the most efficient and safe way to TD, predicts incidents, hazards, and optimizes parameters. View the full article
-
entries
2,497 -
comments
128 -
views
355,126
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.
