EIA revises up US oil production
16/06/2023 by Mark
In its latest Short-Term Energy Outlook, the US Energy Information Administration (EIA) has increased its
Citigroup sees Saudi cut having limited effect on oil prices
13/06/2023 by Mark
While Saudi Arabia has decided to unilaterally cut its oil production by a million barrels per day (bpd), the multinational investment bank Citigroup believes it is unlikely to lead to oil prices soaring towards
Saudi Arabia makes voluntary production cut
12/06/2023 by OilStoreAdministrator
While the recent meeting in Vienna of OPEC+ oil producers resulted in no changes to the group’s targeted production, Saudi Arabia has said it will voluntarily cut its own production by a million
ExxonMobil could double shale output with new technology
09/06/2023 by Mark
Darren Woods, the chief executive of US-based oil major ExxonMobil, has said that over a five-year period, he expects the company to double the production from its shale assets thanks to new technology.
TotalEnergies sells climate-related portfolio
09/06/2023 by Katie
France-based TotalEnergies is to sell its entire portfolio of climate-related technology start-ups to Aster, a venture capitalist firm based in Paris.
Canadian oil production resumes as wildfires subside
06/06/2023 by Mark
Producers of oil and gas in Canada’s Alberta province have started to bring operations back online after rainfall caused wildfires in the area to abate.
OPEC ready to welcome back Iran
05/06/2023 by OilStoreAdministrator
The secretary general of OPEC, Haitham Al Ghais, has said during a visit to Tehran that his organisation would welcome Iran’s return to the international oil market. While Iran is
Russia inclined to leave production unchanged
02/06/2023 by Richard
Reuters is reporting that the Russian Government is leaning towards leaving oil production at its current level when the OPEC+ group next meets.
Prince Abdulaziz bin Salman warns against speculation
30/05/2023 by Katie
The oil minister of Saudi Arabia, Prince Abdulaziz bin Salman, has warned speculators that they may be “ouching” again if they try to profit from anticipating the OPEC+ group’s production decision at its nex
Chevron acquires PDC Energy
29/05/2023 by OilStoreAdministrator
The second-largest oil producer in the US, Chevron, is to expand its US operations with the purchase of PDC Energy, which produces oil in the Permian Basin of Texas and New Mexico.
Shell complements deep sea exploration with AI technology
24/05/2023 by marc-claude_ghibert
Energy giant Shell has done a deal with SparkCognition, which specialises in big-data analytics, to use its AI-based technology in its exploration and production activities.
Venezuela to reinvigorate oil production
23/05/2023 by Richard
Reuters reports that the new management team at PDVSA, the state-owned oil company of Venezuela, is planning to increase its oil production to 1.17 million barrels per day (bpd) by the end of this year.