Airbus approves FUCHS ECOCOOL GLOBAL 1000
26/12/2023 by OilStoreAdministrator
The FUCHS ECOCOOL GLOBAL 1000 metalworking fluid has received approval from Airbus in the latest version of its Process Specification: AIPS00-00-010.
EU delays automotive rules of origin change
22/12/2023 by Richard
The UK automotive industry has been given a reprieve with the delay of rule changes that could have seen UK-produced electric vehicles (EVs) charged a 10% tariff when exported to the European Union (EU).
OPEC maintains positive outlook for oil demand
21/12/2023 by OilStoreAdministrator
In its latest Monthly Oil Market Report (MOMR), OPEC has reinforced its forecasts for oil demand growth in both this year and next year, despite the recent drop in oil prices that it attributes to…
TotalEnergies joins subsea wave power project
20/12/2023 by Richard
France-based energy firm TotalEnergies is the latest company to invest in the Renewables for Subsea Power (RSP) project, an initiative that seeks to demonstrate the feasibility of using wave power to decarbonise marine structures like…
BP and Cosco sign cooperation agreement
19/12/2023 by Mark
UK-based oil major BP has signed a memorandum of understanding (MoU) with Chinese shipping giant Cosco that will see the two companies explore further ways to expand their collaboration.
ExxonMobil boosts profits through cost cutting
18/12/2023 by OilStoreAdministrator
US oil major ExxonMobil has said that its plan to cut operating costs and increase its earnings by $14 billion by 2027 is on track.
Chevron to boost capital expenditure by 11%
15/12/2023 by Richard
American oil major Chevron has announced in a press release that it intends its capital expenditure to be between $18.5 billion and $19.5 billion, an 11% increase on this year’s figure, with $14 billion of…
ExxonMobil to increase capital spending to boost production
14/12/2023 by Mark
US-based oil major is poised to gradually reverse the austerity it imposed on itself in 2020, when energy prices crashed in the wake of the COVID-19 pandemic.
Rising US oil production challenges OPEC supremacy
13/12/2023 by OilStoreAdministrator
According to the latest data from the US Energy Information Administration (EIA), the US set a new record for oil production for the second month in a row in September.
Masdar and TotalEnergies demonstrate methanol-based SAF
12/12/2023 by Mark
On the sidelines of the COP28 climate change conference in Dubai, UAE clean-energy company Masdar and energy giant TotalEnergies have conducted a test flight to demonstrate
TotalEnergies backs World Bank methane initiative
12/12/2023 by Richard
While attending the COP28 climate change summit that recently took place in Dubai, TotalEnergies has announced a $25 million donation to the World Bank’s trust fund for Global Flaring and Methane Reduction (GFMR).
Petrobras CEO confirms no OPEC+ production cuts
11/12/2023 by Mark
Jean Paul Prates, the chief executive of Brazilian oil producer Petrobras, has denied that Brazil will see any form of production cuts when it joins the OPEC+ group.