ExxonMobil production exceeds 600,000 bpd in Guyana
23/02/2024 by Mark
Oil production in Guyana, which is currently dominated by US oil major ExxonMobil, has now exceeded 600,000 barrels per day (bpd) as its third development project approaches peak production.
IEA prepared for oil market shocks
21/02/2024 by Richard
The head of the International Energy Agency (IEA), said that the organisation is prepared to coordinate the release of oil reserves, should extreme weather or geopolitical tensions disrupt supply.
Chevron produces record volume of oil and gas
13/02/2024 by Richard
US oil major Chevron has posted its fourth quarter results for 2023, with it reporting that it produced more oil and gas last year than it has in any year of its long history.
OPEC production fell 410,000 bpd in January
09/02/2024 by OilStoreAdministrator
Reuters reports that its survey of oil production has revealed that total production from OPEC countries was
Libya restarts production at Sharara oil field
08/02/2024 by Richard
After a two-week pause, the National Oil Corp. (NOC) of Libya has announced the lifting of force majeure for the Sharara oil field.
Shell to convert German facility to make base oil
05/02/2024 by Richard
The German arm of UK-based oil major Shell has announced that it will repurpose its hydrocracker at the Energy and Chemicals Park Rheinland in Wesseling.
IEA predicts record global oil production this year
02/02/2024 by Richard
In its latest Oil Market Report (OMR), the International Energy Agency (IEA) has predicted that the global production of crude oil will reach a new record high of 103.5 million barrels per day (bpd), with…
TrAchem Rebrands as Oil Store
31/01/2024 by Daniel Tait
TrAchem Lubricants Rebrands as Oil Store: Simplifying and Strengthening Presence in Lubricants Industry 31st January 2024 TrAchem Lubricants, a renowned supplier of quality lubricants for nearly 30 years, announces its rebranding as Oil Store, effective…
Occidental chief warns of oil shortage
29/01/2024 by OilStoreAdministrator
Speaking on the sidelines in Davos at the World Economic Forum, the chief executive of Occidental Petroleum has warned that oil exploration is failing to keep pace with demand.
BP appoints new chief executive officer
26/01/2024 by Mark
Energy major BP has announced that Murray Auchincloss will be the new CEO (chief executive officer) of the company.
Shell gives go ahead for Victory gas field
24/01/2024 by OilStoreAdministrator
The UK arm of Shell has stated it has made its final investment decision (FID) in establishing a gas field in the North Sea, about 29 miles offshore of the Shetland Islands.
Analysts predict stable oil prices this year
23/01/2024 by Mark
Based on the fundamentals, industry analysts are predicting that oil prices will remain relatively flat through this year.