New round opens for UK oil and gas licenses
12/10/2022 by OilStoreAdministrator
The UK Government has initiated a new licensing round for oil and gas exploration in the North Sea, with it covering almost 900 locations, divided over up to 100 licenses.
OPEC+ cuts crude oil production
11/10/2022 by Mark
The OPEC+ group of oil producing countries, which includes OPEC members and some participating non-member countries, has agreed to cut crude oil production by 2 million barrels per day (bpd), which is higher than analysts’…
TotalEnergies to work on decarbonizing cement plant
10/10/2022 by Richard
Energy major TotalEnergies has signed a memorandum of understanding (MoU) with the Belgian cement manufacturer Holcim to work on solutions aimed at decarbonising one of its cement manufacturing plants.
Startup Arrival produces first electric van
09/10/2022 by greg
Arrival, a listed startup that is back by Hyundai, has produced its first battery electric van using its micro-plant concept.
Shell CEO says governments may need to tax energy companies
07/10/2022 by OilStoreAdministrator
Ben van Beurden, the chief executive of energy major Shell, has suggested that governments may need to look at taxing energy companies more to relieve the soaring energy bills of poorer consumers.
New consortium formed to advance additive manufacturing
06/10/2022 by Mark
A new consortium has been formed to advance the productivity of wire arc additive manufacturing (WAAM), with members including leading academics, scale-ups and engineering firms for Europe and the UK.
OPEC production highest since 2020
06/10/2022 by Mark
A survey by Reuters reports that total crude oil production among OPEC member nations in September was at its highest level since 2020 at 29.81 million barrels per day (bpd), with production increasing by 210,000…
Wood wins BP contract to support energy generation
05/10/2022 by Richard
Energy major BP has awarded a multi-region contract to consultant and engineering firm Wood. The latter firm will provide engineering services to support safe and efficient energy generation through the enhancement, repair and modification of…
Castrol extends lubricant partnership with Renault Group
04/10/2022 by OilStoreAdministrator
Leading brand Castrol has agreed with Renault Group to extend its agreement to supply lubricants, enabling the lubricant maker to expand its product portfolio to include motor oil for Euro 7 vehicles.
TechnipFMC picked by Shell for Jackdaw tieback
03/10/2022 by Katie
UK-based oil major Shell has contracted TechnipFMC to build the tieback for a major upcoming UK North Sea project.
Oil prices rise as Gulf of Mexico operators shut off production
03/10/2022 by Mark
Despite falling to a nine-month low, Brent Crude prices started to recover as the approach of Hurricane Ian prompted operators in the US Gulf of Mexico—such as BP and Chevron, the owners of the Castrol…
Exxon Mobil and Shell launch North Sea assets sale
03/10/2022 by Richard
Reuters reports three sources in the oil industry and the banking sector as saying that Exxon Mobil and Shell have launched a coordinated process to sell off a substantial package of their North Sea assets…