TotalEnergies signs MoU with Air France-KLM
09/12/2022 by Richard
The Air France-KLM Group, which resulted from the merger between the French and Dutch national airlines, has signed a Memorandum of Understanding (MoU) with TotalEnergies to purchase some 800,000 tonnes of sustainable aviation fuel over…
OPEC+ maintains current production quotas
08/12/2022 by OilStoreAdministrator
At its latest OPEC and non-OPEC Ministerial Meeting, the OPEC+ group decided to maintain its current production policy amid developments in China and the introduction of a price cap on Russian crude oil. The group…
ADNOC board agrees to accelerate production increases
05/12/2022 by Richard
A meeting of the Abu Dhabi National Oil Company’s (ADNOC) board has approved a plan to bring forward an increase in the company’s oil production capacity by three years.
Guyana awards oil-marketing contract to BP
03/12/2022 by Katie
BP has won the contract to market the Guyanese state’s portion of the crude oil being produced at two offshore platforms in the country’s waters, with it replacing a trading unit of Saudi Aramco as…
Chevron gets go ahead to resume Venezuela operations
02/12/2022 by OilStoreAdministrator
US-based major Chevron has received a six-month license from the US Office of Foreign Assets Control (OFAC) to resume oil production in Venezuela following talks between the various political factions in the country.
US Government approves new oil export terminal
01/12/2022 by Mark
The Maritime Administration of the US Department of Transportation has approved a new project that will see the country’s biggest oil export terminal built about 30 miles off the coast of Texas.
Goldman Sachs cuts forecast for oil prices
29/11/2022 by Richard
Investment bank Goldman Sachs has revised down its prediction for oil prices in the near future by $10, with it now expecting them to reach $100 per barrel.
US may authorise Chevron to expand Venezuela operations
28/11/2022 by OilStoreAdministrator
Reuters reports three sources familiar with the matter as saying that Chevron could gain authorisation to massively expand its Venezuelan operations should the government there restart political talks with opposition parties.
Oil prices fluctuate over OPEC+ rumours
27/11/2022 by Mark
The price of crude oil rose and fell over mixed messages about a potential decision by the OPEC+ group to increase production.
Iraq seeking to increase oil production capacity to 7 million bpd
25/11/2022 by Richard
Reuters reports that the boss of SOMO, a state organisation responsible for marketing Iraq’s oil, has told it that the country is targeting 7 million barrels per day (bpd) in crude oil production capacity by…
Why is agricultural oil so important?
24/11/2022 by Mark
Different industries use specific types of machinery and involve different operating environments, conditions, and work rates. Additionally, companies are also subject to specific legislation that they must adhere to.
TotalEnergies signs deal with Israel for Mediterranean gas field
21/11/2022 by Katie
Israel has signed an agreement with France-based TotalEnergies that will pave the way for the energy company to begin exploring the Qana gas field which lies partially in Lebanese waters, according to a recent maritime…