Chevron and ExxonMobil to focus on the Americas
09/01/2023 by Katie
US-based oil majors Chevron and ExxonMobil are set to refocus their efforts closer to home as they concentrate on their operations in the Permian Basin and other oil and gas projects in North and South…
Chevron sends oil tankers to Venezuela
06/01/2023 by Mark
According to a source reported by Reuters, Chevron is sending two oil tankers to Venezuela, marking the first time that Venezuelan crude will be shipped to the United States in four years.
Is there a difference between regular oil and marine oil?
05/01/2023 by Katie
The purpose of oil is to lubricate mechanical systems to keep them running efficiently, while protecting them from harm. It is understood that the type of operating environment involved will always impact the type of…
Eni and TotalEnergies make Cyprus discovery
04/01/2023 by OilStoreAdministrator
Eni and its partner TotalEnergies have made another discovery of natural gas in the waters off the coast of Cyprus. The Tungsten Explorer drill ship drilled the
US to begin refilling oil reserves
03/01/2023 by OilStoreAdministrator
The United States is to start buying oil to refill its Strategic Petroleum Reserve (SPR), the largest emergency stockpile of crude oil in the world.
US sees surprise increase in crude inventories
29/12/2022 by OilStoreAdministrator
A four-week long streak of US crude oil inventory drawdowns was broken when official data from the American Petroleum Institute (API) showed an unexpected build of 7.819 million barrels, compared to an anticipated drawdown of…
Permian operators drill deeper as production starts to plateau
28/12/2022 by Mark
According to BMO Capital Markets, over two-thirds of the premium land in the prolific US Permian Basin has already been drilled for oil, meaning that operators are looking for other opportunities to maintain production.
IEA raises its forecast for global oil demand
27/12/2022 by Richard
In its December Oil Market Report, the International Energy Agency (IEA) has upwardly revised its expectations for how the demand for oil will grow.
ExxonMobil and Chevron to increase investment
23/12/2022 by Mark
US-based oil majors Chevron and ExxonMobil have announced significant boosts to their planned investments in energy projects next year, as the global demand for oil continues to keep oil prices relatively high.
Turkey and insurers reach deal to ease tanker build up
22/12/2022 by Richard
Shipping insurers and Turkey have reached a deal over an issue with protection and indemnity (P&I) cover for tankers transiting Turkish waters.
Libya invites multinationals to resume oil and gas exploration
21/12/2022 by OilStoreAdministrator
The Government of National Unity (GNU) in Libya has lifted its force majeure on exploring for new oil and gas resources in the country, paving the way for international oil companies (IOCs) to once again…
TotalEnergies withdraws from Novatek
16/12/2022 by Mark
As part of it gradual withdraw from Russian assets, TotalEnergies has disengaged with its stake in Novatek, Russia’s second-largest producer of natural gas and one of the world’s biggest publicly traded producers of natural gas…