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Crude is up over 4% so far this month, though a further price breakout is being held back by a tepid recovery in Asia, where the coronavirus is crippling key importer India, and Singapore and Taiwan grapple with new outbreaks. View the full article
The European Union is planning to allow some natural-gas and nuclear energy projects to be classified as sustainable investments in a proposal that sparked immediate criticism from the Greens. View the full article
As part of the rollout of its multi-energy strategy in Angola, TotalEnergies announced the launch of the Begonia oil field, and Quiluma and Maboqueiro gas fields developments, as well as its first photovoltaic project in the country. View the full article
Sustainable recovery and transforming the industry for the future was the theme of the opening general session Monday morning at the SPE Annual Technical Conference and Exhibition, at the George R. Brown convention center in Houston, Texas. View the full article
It hasn’t been this cheap for U.S. shale operators to raise money on the high-yield bond market since oil was at $100 a barrel in 2014, so they’re jumping on the opportunity to refinance debt at lower rates. View the full article
Europe is bracing for a tough winter as an energy crisis that’s been years in the making leaves the continent relying on the vagaries of the weather. View the full article
How the UK government finds itself mounting a tax raid on the oil and gas industry, while simultaneously breaking a promise not to offer fossil fuel producers incentives to drill more, shows how the invasion of Ukraine has turned the world of energy on its head. View the full article
The new location is fully equipped to support this region’s mobile power generator fleet and will provide a full range of maintenance and repair services.
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The International Energy Agency has a bold interpretation for what must be done to avert a climate crisis – and its measures stand in stark contrast to current economic and technological realities. View the full article
Russia failed to boost oil output last month despite a generous ramp-up quota in its OPEC+ agreement, indicating the country has deployed all of its current available production capacity. View the full article
Iranian forces seized two Greek oil tankers in the Persian Gulf in apparent retaliation for the detention of vessel off the coast of Greece. View the full article
Nickel Road Operating LLC announced it divested a portion of its assets in the Denver-Julesberg Basin to Bayswater Exploration and Production. View the full article
The sales would be part of a broader strategy of disposing of €8 billion in assets over the next three years. Units that could be candidates for the asset sale plan include some operations in Indonesia and Cyprus, said the people, asking not to be named discussing confidential deliberations. View the full article
Interoil Exploration and Production ASA has announced that its Colombian subsidiary, Interoil Colombia Exploration and Production (ICEP), has successfully completed a downhole intervention to the Vikingo well. View the full article
With Canadians set to vote Monday in a highly competitive election, the outlook for the two largest sectors in country’s stock index hangs in the balance. View the full article
As the U.S. experiences two straight quarters of negative GDP growth, which meets the common definition of recession, Railroad Commission of Texas Chairman Wayne Christian said high taxes, unnecessary regulations, and irresponsible deficit spending is what caused the mess we are in. View the full article
(Bloomberg) — Nigeria expects a 30% increase in crude and condensate output as authorities strengthen security around the nation’s oil infrastructure and incentives in the sector attract investment, even though the gain could cross its OPEC+ commitment to limit production. View the full article
“The balance of risks and rewards associated with our onshore portfolio is no longer compatible with our strategic ambitions,” Shell CEO Ben van Beurden told investors at Shell’s annual general meeting on Tuesday. View the full article
OPEC and its allies will stick to their slow pace of oil-production increases, disregarding U.S. President Joe Biden’s demand to go faster and increasing the odds that oil consuming nations will tap strategic reserves to lower consumer prices. View the full article
Oil & Natural Gas Corp.’s profit rose 32% in the fourth quarter but missed estimates as an increase in government levies ate into the gains from soaring oil prices after Russia’s invasion of Ukraine. View the full article
Shale explorers are searching for oil at rates not seen since the early weeks of the pandemic as high crude prices incentivize drilling. View the full article
The American Petroleum Institute President and CEO Mike Sommers and American Fuel and Petrochemical Manufacturers President and CEO Chet Thompson sent a letter to U.S. Secretary of Energy Jennifer Granholm raising significant concerns that the administration could pursue a ban or limits on refined petroleum products. View the full article
The merger of TGS and PGS forms a powerhouse in the energy sector, enhancing its capabilities to support energy exploration and production on a global scale. This integration will enable the company to leverage a wider pool of technological resources and expertise, significantly boosting its operational efficiency, innovation and customer engagement strategies. View the full article
The Department of the Interior has issued final guidance for states on applying for the first $775 million in grant funding available this year to address orphaned oil and gas wells under President Biden’s Bipartisan Infrastructure Law. View the full article
Futures in New York lost as much as 8.3% on Monday as OPEC and its allies pledge to increase oil production from August until all halted output is revived. A jump in virus cases from Asia to the U.S. drove down equities, with stocks in Europe hitting a seven-week low. 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.
