Prince Abdulaziz bin Salman warns against speculation
30/05/2023 by Katie
The oil minister of Saudi Arabia, Prince Abdulaziz bin Salman, has warned speculators that they may be “ouching” again if they try to profit from anticipating the OPEC+ group’s production decision at its nex
Chevron acquires PDC Energy
29/05/2023 by OilStoreAdministrator
The second-largest oil producer in the US, Chevron, is to expand its US operations with the purchase of PDC Energy, which produces oil in the Permian Basin of Texas and New Mexico.
Shell complements deep sea exploration with AI technology
24/05/2023 by marc-claude_ghibert
Energy giant Shell has done a deal with SparkCognition, which specialises in big-data analytics, to use its AI-based technology in its exploration and production activities.
Venezuela to reinvigorate oil production
23/05/2023 by Richard
Reuters reports that the new management team at PDVSA, the state-owned oil company of Venezuela, is planning to increase its oil production to 1.17 million barrels per day (bpd) by the end of this year.
TotalEnergies preparing to implement Iraq projects
22/05/2023 by Mark
France-based energy giant TotalEnergies is reportedly engaging with the Basrah Oil Company of Iraq, which is state owned, to agree some key contracts ahead of
Castrol launches Fastscan app for independent workshops
21/05/2023 by marc-claude_ghibert
Leading lubricant brand Castrol has released a new app to reward the owners of independent workshops when they make qualifying purchases of Castrol products.
Iraq signals no more OPEC+ cuts in June
19/05/2023 by OilStoreAdministrator
Hayan Abdel-Ghani, the oil minister of Iraq, has given the first hint about what the OPEC+ group may decide to do when it meets next month to discuss production levels.
US could start refilling oil reserve next month
18/05/2023 by Richard
Speaking at a congressional hearing, Jennifer Granholm, the US Energy Secretary, has said that plans to proceed with refilling the country’s Strategic Petroleum Reserve (SPR) could begin as soon as next month once a sale…
Texaco manager discusses off-road challenges
12/05/2023 by OilStoreAdministrator
Eddy Devriese, the Europe OEMs manager for Texaco Lubricants, has given an interview in which he discusses the challenges facing off-road operations like mining and construction and what Texaco is doing to help overcome these…
A billion in windfall taxes paid by BP so far
10/05/2023 by marc-claude_ghibert
Speaking to Bloomberg, BP’s Chief Financial Officer, Murray Auchinclos, said his company had paid about $300 million under the UK’s windfall tax, which is formally known as the Energy Profits Levy (EPL), in the first…
ExxonMobil gets environmental approval for new Guyana project
10/05/2023 by OilStoreAdministrator
Guyana’s environmental protection agency has given final approval for the Uaru project, paving the way for the Exxon-led consortium to begin work on the project once the public comment period has successfully concluded.
Oil makes Guyana the fastest-growing economy
08/05/2023 by Richard
According to the International Monetary Fund (IMF), the fastest-growing economy in the world this year will be the relatively small South American country of Guyana, thanks to the oil boom in the country.