Russian president Vladimir Putin has given the first indication that his country, which is one of the world’s biggest oil producers, may be amenable to extending the production cuts agreed by Continue reading Russia signals OPEC+ deal may be extended
Category: Oil Industry
Lukoil seeking to boost Iraq oil production
The second largest oil company in Russia, Lukoil, is looking at boosting oil production from its assets in Iraq once the quotas agreed by Continue reading Lukoil seeking to boost Iraq oil production
US shale oil production to dip next month
According to productivity data from the US Energy Information Administration (EIA), production from the country’s largest shale formations will likely decline moderately next month, indicating that there is Continue reading US shale oil production to dip next month
Oil CEO forecasts “moderate” production restoration
According to the CEO of Occidental Petroleum Corp, US oil production is unlikely to return to the record levels seen before the COVID-19 pandemic, but production will Continue reading Oil CEO forecasts “moderate” production restoration
OPEC+ cuts will still taper out from next year
According to Suhail al-Mazrouei, the energy minister for the United Arab Emirates, the OPEC+ group will continue with its plan to begin tapering its collective production cuts by 1.9 million barrels per day (bpd) to reach a Continue reading OPEC+ cuts will still taper out from next year
Investors seeing Shell and BP shares as bargains
With BP and Shell’s share prices at their lowest for 25 years, investors are seeing them as Continue reading Investors seeing Shell and BP shares as bargains
Oil demand to grow in next decade and beyond
The days of oil are not quite over yet according to OPEC, which predicts that the demand for oil will continue to increase until Continue reading Oil demand to grow in next decade and beyond
Fuchs UK reports strong results
The UK arm of lubricant giant Fuchs, which is based in Stoke-on-Trent, has reported increased revenue and Continue reading Fuchs UK reports strong results
Egypt announces record oil production
While much of the news lately has been largely dominated by the pandemic and oil production cuts to stabilize the markets, Egypt quietly announced that it has achieved its highest level of oil production since Continue reading Egypt announces record oil production
Shell bets on hydrogen for shipping industry
Oil company Shell has published a decarbonisation report that examines potential fuels for the future, with it coming down firmly in favour of Continue reading Shell bets on hydrogen for shipping industry
