TotalEnergies boosts stakes in Namibia blocks
19/01/2024 by OilStoreAdministrator
France-based TotalEnergies has announced that it has agreed to increase its interests in two blocks that it operates in Namibia.
Castrol celebrates its 125th birthday in business
17/01/2024 by Richard
Leading lubricant brand Castrol is entering its 125th year in business, and it will be marking the event through a three-pronged
US to see record oil and gas production
16/01/2024 by OilStoreAdministrator
Oil and gas production in the United States will reach unprecedented levels this year and next, according to the
BP passes billion barrel threshold at Caspian platform
15/01/2024 by Mark
UK-based energy major BP has announced that its West Azeri platform in the Caspian Sea has now produced more than a billion barrels of oil.
ExxonMobil reports $2.5 billion impairment due to California assets
12/01/2024 by Richard
US oil major ExxonMobil has warned that it may be necessary to write down the California assets of the company by around $2.5 billion, after it
TotalEnergies to start production in Brazil
11/01/2024 by OilStoreAdministrator
France-based TotalEnergies has announced that in the Libra block, which is some 110 miles offshore of Rio de Janeiro, production has begun at the Mero-2 development.
Angola OPEC exit due to tighter cap
10/01/2024 by Mark
According to Angola’s top official for oil, the country announced its exit from OPEC in December was due to its inability to accept an output limit that would prevent it from stabilising its oil production…
TotalEnergies commissions an evaluation of land acquisition
09/01/2024 by Richard
TotalEnergies’ CEO and Chairman, Patrick Pouyanné, has recruited a renowned expert in economic development in Africa, Lionel Zinsou, to lead a mission that will
US Government to Replenish SPR
05/01/2024 by Mark
The Office of Petroleum Reserves at the US Department of Energy (DoE) has announced that it is looking for bids to supply some 3 million barrels of crude oil to start replenishing the Strategic Petroleum…
Petronas releases film to embody spirit of the New Year
04/01/2024 by Richard
The last in a series of festive films has been released by oil company and lubricant producer, Petronas.
Reuters claims that OPEC is losing its market share
03/01/2024 by OilStoreAdministrator
According to claims made by Reuters, OPEC’s share of global crude oil production is set to fall to just over a quarter, potentially limiting its effectiveness as a collective swing producer.
Shell to ramp up oil production from Gulf of Mexico project
02/01/2024 by Mark
Shell subsidiary Shell Offshore Inc. has announced that it has made a final decision to proceed with the phased drilling of three new wells for its Great White project in the US Gulf of Mexico.