Total rethinks supplying fuel oil to power stations
22/02/2020 by Richard
Patrick Pouyanné, CEO of the France-based energy company Total, has said in an interview that the company is looking at ending the supply of fuel oil for power generation. The company is looking to transition
UK offshore oil still vital to BP
20/02/2020 by Mark
Oil production on the UK continental shelf will remain a leading aspect of BP’s business according to BP regional president Ariel Flores. He also said he expected BP to continue to
Four new LNG carriers being built for Shell
18/02/2020 by OilStoreAdministrator
Norway-based shipping company Knutsen has ordered four new 174,000-cubic-metre liquefied natural gas (LNG) carriers that
Oil choice for off-highway vehicles becoming more vital, says Fuchs
16/02/2020 by Mark
According to Fuchs Lubricants, businesses need to reevaluate which oils they should be using in off-road vehicles in the light of
Tufan Erginbilgic to leave BP’s downstream segment
14/02/2020 by Mark
The chief executive of BP’s downstream segment, Tufan Erginbilgic, has decided to part ways with the major oil company, according to an
OPEC committee suggests 600,000 bpd production cut
12/02/2020 by Richard
The Joint Technical Committee, which advises the OPEC+ group, has proposed a further production cut of 600,000 barrels per day (bpd) in
OGUK sets out its decarbonisation plans
08/02/2020 by Richard
Oil and Gas UK (OGUK), which represents the UK oil and gas industry, has presented its plans for decarbonising the sector in response to the net-zero emission goals set by the UK and Scottish governments.…
US expected to soon become net oil exporter
06/02/2020 by Mark
The US Energy Information Administration (EIA) has published its 2020 Annual Energy Outlook. It predicts that the US will become a net exporter of crude oil and derived products this year as production continues to
The seven most commonly believed myths about oil
05/02/2020 by Mark
Oil and other fossil fuel products, such as natural gas, get a mixed press. There’s no doubt that oil is useful; it powers our vehicles and keeps the wheels of industry turning. Natural gas is…
OPEC set to prolong cuts through June
04/02/2020 by OilStoreAdministrator
Reuters is quoting sources within OPEC as saying that the cartel wishes to extend its production cuts at least to June, with deeper cuts also being on the cards if demand falters. The development has
Which countries have the most oil?
03/02/2020 by OilStoreAdministrator
Which countries, on the planet, are the biggest producers of oil? Many of us will think of the Middle East when oil is mentioned. This is understandable, as in fact one of the manufacturers of…
Improved well efficiency boosted US oil output last year
02/02/2020 by OilStoreAdministrator
The US Energy Information Agency (EIA) has said that the efficiency of oil production from new wells in tight formations, which is commonly referred to as shale oil, increased for the 10th year running in…