ExxonMobil announces new Guyana discovery
04/05/2021 by Mark
ExxonMobil has discovered oil off the coast of Guyana at the Stabroek Block’s Uaru-2 well. The new discovery adds to the estimated nine billion barrels of oil equivalent that have previously been announced. The new…
Rystad predicts peak oil in 2026
02/05/2021 by Richard
Research company Rystad Energy has brought forward its prediction for peak oil demand by another two years, to 2026, when it will reach 101.6 million barrels per day – about 1% more than it was…
BP and Shell back in profit
30/04/2021 by OilStoreAdministrator
There are indications that the oil industry’s recent dark period may have ended, as oil majors BP and Shell have slid back into profit for the first time since
Carbon capture plan proposed by Exxon Mobil
26/04/2021 by Richard
US oil major Exxon Mobil has put forward a $100 billion plan to capture carbon emissions from large industrial facilities in the Houston area and transport them to the Gulf of Mexico for storage up
S&P predicts oil prices over $70
18/04/2021 by OilStoreAdministrator
Once the current round of COVID-19 concerns begins to settle, oil prices potentially could rise above $70 per barrel by the middle of this year, according to
Essar Oil UK confident about future
16/04/2021 by Mark
The owner of the massive Stanlow Manufacturing Complex, Essar Oil UK, has announced that it is confident in the business’s future prospects despite reports that it may be
UK agrees transition deal for oil and gas industry
08/04/2021 by OilStoreAdministrator
The UK has become the first country to agree a deal with the oil and gas sector to support it as it transitions towards cleaner forms of energy, making it the first Group of Seven…
Shell considers connecting executive pay with climate performance
04/04/2021 by Mark
The Anglo-Dutch oil major Royal Dutch Shell has suggested furthering its decarbonisation strategy by strengthening the link between climate objectives and
UK approves new North Sea projects
03/04/2021 by OilStoreAdministrator
The UK government recently gave the go ahead to drill more North Sea wells, which it says will safeguard the industry and the thousands of jobs related to it.
EIA anticipates rising oil prices in April
28/03/2021 by Richard
The US Energy Information Administration (EIA) has forecasted in its March Short-Term Energy Outlook that crude oil prices will rise in April, due in part to
Aramco looks to China for blue hydrogen production
26/03/2021 by Mark
According to Amin Nasser, the CEO of Saudi Aramco, the world’s biggest oil company is looking to cooperate more with China in areas like the production of ammonia and hydrogen from natural gas, as well…
North Sea carbon storage project gets government backing
20/03/2021 by Mark
The UK government has given its backing to the union of three projects concerning carbon capture, use and storage (CCUS) in the Humber and Teesside regions, which together represent