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Iran’s foreign currency earnings from exports of oil, gas condensate, natural gas and petrochemicals rose more than 60% from March 21 to May 21, compared to the same period last year. View the full article
Energy Workforce continues to digest the potential reconciliation deal — the “Inflation Reduction Act” — in the Senate. Initial thoughts are mixed; some provisions may be beneficial to our sector while others will be negative. View the full article
Brazilian state-owned oil and gas producer Petrobras awarded Sembcorp Marine Rigs & Floaters Pte, a wholly-owned subsidiary of Sembcorp Marine, a $3.05 billion contract for the P-82 FPSO vessel through an international tender. View the full article
AGR’s reservoir management and subsurface team were selected by Norwegian E&P company Aker BP to conduct an independent third-party technical peer review of two carbon storage licenses in the Norwegian North Sea. View the full article
Southwestern Energy Company announced that it has entered into a definitive agreement with the third largest private Haynesville producer – GEP Haynesville, LLC under which it will acquire GEP for approximately $1.85 billion. The transaction is expected to close by year-end 2021, subject to customary closing conditions. View the full article
Dolphin Drilling secured a year-long, $96 million contract with Nigerian based General Hydrocarbons Limited for the Blackford Dolphin rig. The contract will commence in the fourth quarter of this year. View the full article
For U.S. President Joe Biden, the easy part was threatening a response. Now comes the tougher challenge of delivering one, or risk looking impotent in his struggle with the oil cartel. View the full article
TGS and WesternGeco announced the continuation of their ultra-long offset ocean-bottom node acquisition in Green Canyon, U.S. Gulf of Mexico. Data processing and imaging are by WesternGeco. View the full article
Subsea7 announced that the heavy construction/flex-lay vessel Seven Arctic is to be equipped with a new energy-saving system. View the full article
The companies will integrate advanced digital capabilities, including artificial intelligence (AI), with new and existing applications on SLB’s extensible Delfi digital platform, adhering to the Open Group’s OSDU Technical Standard. View the full article
Oil pared losses after Royal Dutch Shell Plc. said a critical U.S. Gulf of Mexico oil-production platform will be out of service for the rest of this year. View the full article
Dolphin Drilling secured a year-long, $96 million contract with Nigeria-based General Hydrocarbons Limited for the Blackford Dolphin rig. The contract will commence in the fourth quarter of this year. View the full article
Ocean services provider DeepOcean and well management and reservoir specialist EXCEED have entered into a collaboration agreement to supply vessel-based well plug and abandonment (P&A) services to the global decommissioning market. View the full article
European and U.S. refiners that rely on the vital waterway for cargoes of Middle Eastern oil may be forced to look for replacement supplies should the blockage persist, while flows of crude from North Sea fields destined for Asia will be held up. View the full article
BHP has long said the oil business was one of its strategic pillars, and argued that it will make money for at least another decade. But as the world tries to shift away from fossil fuels, the company wants to avoid getting stuck with assets that become more difficult to sell, according to insiders. View the full article
Oil resumed declines amid growing concerns over the health of China’s economy that have triggered massive losses in equities. View the full article
Libya’s crude exports climbed after a ban on production and shipments was lifted in mid-July, a trend that may help cool fears about the OPEC member’s ability to supply global markets. View the full article
U.S. President Joe Biden said he’s disappointed by the surprise OPEC+ decision to slash oil production but that he doesn’t regret a trip to Saudi Arabia just three months ago in which he urged its leaders to keep crude flowing. View the full article
Kent and the Energy Institute have announced a collaboration to create comprehensive guidelines for the economics of decarbonization in greenhouse gas (GHG) emission reduction projects within the upstream oil and gas sector. View the full article
A potential release from the U.S. Strategic Petroleum Reserve intended to bring down gasoline prices may have little effect, oil market participants warn, even as the Biden administration floats the idea as a way to provide immediate relief at the pump. View the full article
U.S. shale drillers are expected to post record second-quarter profits in coming days, reversing nearly a decade of debt-fueled losses. View the full article
The National Ocean Industries Association has named Vallourec as the winner of the inaugural NOIA Environmental, Social, & Governance Excellence Award. View the full article
The slowdown in production outside OPEC+, particularly in the U.S., is expected to narrow the global oil market surplus in 2025, though production will still outpace demand. View the full article
The assets, located in Weld County, Colorado, add 5,592 net leasehold acres, 89 approved well permits, and 26 operated horizontal wells, enhancing Prairie’s cash flow in the DJ basin. View the full article
Despite volatility in global oil markets, U.S. crude oil exports reached a record high in 2020, maintaining momentum in 2021 with crude oil exports reaching 3.00 million barrels per day (bpd). 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.
