Venezuelan oil production rises after sanctions easing
30/11/2023 by Richard
Reuters reports Erick Perez, the deputy oil minister of Venezuela, as saying that the country is now pumping 850,000 barrels per day (bpd) of crude oil.
Shell finds gas offshore of Egypt
29/11/2023 by OilStoreAdministrator
Shell’s Egyptian arm has discovered natural gas offshore of Egypt in the Mediterranean Sea at the North-East El-Ammiya block.
ExxonMobil to invest $15 billion in Indonesian refinery and CCS facility
27/11/2023 by Richard
US-based oil major ExxonMobil has met with Indonesia President Joko “Jokowi” Widodo in San Francisco and announced $15 billion in investment in Indonesia in the form of a green refinery and a facility for carbon…
OPEC+ to consider further production cuts
22/11/2023 by Richard
Reuters reports three sources from within the OPEC+ group as saying that the cartel will discuss the option of making production cuts to support oil prices.
ExxonMobil looks to become major lithium player
18/11/2023 by Katie
ExxonMobil has already begun work on producing lithium in the southwest region of Arkansas with the aim of become a leading supplier of the metal, which is vital to
Oil traders dealing in Venezuelan crude again
17/11/2023 by Richard
Despite it being mere weeks since the US temporarily lifted most of its sanctions on Venezuela, many big independent oil traders are already offering shipments of the country’s crude oil.
Iraq reaches understanding over Kurdistan oil exports
16/11/2023 by OilStoreAdministrator
Hayan Abdel Ghani, the oil minister of Iraq, has said the country expects oil exports to resume soon from the semi-autonomous region of Kurdistan through a pipeline to Turkey.
Chevron CEO commits to lowering carbon intensity
15/11/2023 by greg
The CEO and Chairman of Chevron, Mike Wirth, has said the US-based oil major has earmarked $10 billion up to 2028 to invest in
BP brings Seagull tieback online
13/11/2023 by OilStoreAdministrator
UK-based energy giant BP has announced that it has successfully initiated production in the Seagull field.
Petronas discovers oil offshore of Suriname
09/11/2023 by Katie
The Malaysian state-owned energy company Petronas has discovered oil within the Roystonea-1 well while exploring Block 52 offshore of Suriname.
US crude production above pre-pandemic levels
09/11/2023 by Mark
According to recent data from the US Energy Information Administration, the production of crude and condensate in the United States surpassed pre-pandemic levels in August.
Shell meets profit expectations
08/11/2023 by OilStoreAdministrator
Shell has posted its third-quarter earnings, and with them being roughly in line with analysts’ expectations, it has avoided the drop in share price that BP experienced after it recently announced disappointing financial results.