BP boss plays down talk of a takeover
06/11/2023 by greg
Murray Auchincloss, the acting CEO of energy giant BP, has dismissed speculation that his company could be
Exxon and Chevron post lower-than-expected profits
03/11/2023 by Mark
Both Chevron and ExxonMobil have posted profits for the third quarter that were below market expectations, amid a backdrop of
Equinor increases oil production by 13%
03/11/2023 by Richard
The state-owned Norwegian energy company Equinor has reported that its oil production in the third quarter of this year increased by 13% compared to the same period last year.
EIA: Limited scope for increased Venezuelan oil production
02/11/2023 by Mark
The US Energy Information Administration has released an assessment of how crude oil production may increase in Venezuela.
TotalEnergies and ExxonMobil among bidders for Guyana blocks
01/11/2023 by OilStoreAdministrator
Reuters reports that oil majors TotalEnergies and ExxonMobil are among the consortia that have placed bids in the inaugural competitive auction for shallow-water exploration blocks offshore of Guyana.
Chevron to buy Hess
30/10/2023 by Mark
US-based oil major Chevron has announced that it has come to a definitive agreement to acquire Hess Corporation in its entirety for
Oil to become biggest US export
27/10/2023 by OilStoreAdministrator
Crude oil is set to become the United States’ largest single export product for the first time in the country’s history, as it secures its place as the world’s biggest oil producer.
Venezuela could boost crude oil production
24/10/2023 by greg
Following an easing of sanctions by the US against Venezuela, a number of analysts polled by Bloomberg have come to the conclusion that the country could increase its production of crude oil by 25%, potentially…
Crude prices and well productivity to drive US gas production
24/10/2023 by OilStoreAdministrator
The combination of relatively high prices for crude oil and improved well productivity in the Permian Basin is to drive further growth of the natural gas produced in the US.
Saudi Aramco has 3 million bpd in spare capacity
23/10/2023 by Richard
Amin Nasser, the CEO of state-owned oil giant Saudi Aramco, has said that the company has spare production capacity of 3 million barrels per day (bpd).
US oil production hits new weekly record
20/10/2023 by Mark
The US Department of Energy has announced that the weekly production of crude oil in the US hit a new record of 13.2 million barrels per day (bpd) in the first week of October.
BP confirms climate and financial targets
19/10/2023 by OilStoreAdministrator
At an investors’ day hosted in Denver, Murray Auchincloss, temporary Chief Executive Officer of BP, stated that the company’s carbon-reduction and financial goals remain a priority for the company.