OPEC production decreases as UAE deploys supply cuts
15/01/2025 by Mark
The Organisation of Petroleum Exporting Countries (OPEC) crude oil production slowed last month, due to the United Arab Emirates implementing supply cutbacks designed to keep global oil markets afloat.
Oilfield service industry poised for greater consolidation this year
07/01/2025 by OilStoreAdministrator
According to a recent report, the oilfield service sector will see further consolidation in the coming months.
ExxonMobil unveils five-year plan to boost oil output
30/12/2024 by OilStoreAdministrator
A spokesperson for ExxonMobil, operator of the Mobil lubricants brand, stated that the company aims to increase its annual budget for project spending to between $28 and $33 billion.
Fuchs strengthens its position in South Africa for 2025
26/12/2024 by Richard
After completing a new investment initiative, the South African business division of Fuchs lubricants is well placed for the year ahead.
Castrol India names new chairman
19/12/2024 by Mark
The India division of lubricant manufacturer Castrol recently announced an important change in leadership at board level.
Nynas aids Estonia air base upgrade
17/12/2024 by OilStoreAdministrator
Crude oil company and lubricant maker Nynas recently played a pivotal role in the update of an air base in Estonia.
The best practices of managing waste oil disposal
05/12/2024 by OilStoreAdministrator
Whether you use specialist refrigeration oils from CPI Fluid Engineering or gas engine and gear oils from Castrol managing, the disposal of waste lubricant is
Petronas replaces ExxonMobil in Suriname block stake
26/11/2024 by Mark
As part of its ongoing evaluation of its assets, ExxonMobil is transferring its 50% stake in Block 52 of Suriname to Petronas.
Shell welcomes appeal court ruling
19/11/2024 by Richard
Energy giant Shell has said it welcomes a ruling from the Dutch Court of Appeal overturning a previous ruling about the pace of its emissions reduction.
OGDC publishes its Baseline Report
18/11/2024 by Mark
The Oil & Gas Decarbonization Charter (OGDC) recently published its Baseline Report to serve as a basis for tracking emission reduction in the gas and oil industry.
Chevron marks milestone in Gulf of Mexico
15/11/2024 by OilStoreAdministrator
US-based oil major Chevron has celebrated the 500th million barrel of oil equivalent being produced from the Tahiti Field in the Gulf of Mexico.
OPEC+ postpones production increases
13/11/2024 by Mark
The OPEC+ group has delayed its planned relaxation of some production cuts as global supermajors report record production levels.