Pioneer CEO says no more record US oil production
17/03/2023 by OilStoreAdministrator
Scott Sheffield, the boss of Pioneer Natural Resources, has said that inventory and refining limitations will prevent crude oil production in the US from booming ever again.
BP denies backtracking on green transition
16/03/2023 by Katie
Dave Lawler, BP America’s chair, has said that BP’s plans to produce more oil than previously announced did not mean it was shifting away from its transition to renewable and low-carbon energy.
Heavy-duty mobile equipment lubricant launched by Petro-Canada
16/03/2023 by Mark
Petro-Canada Lubricants has released a new synthetic, multi-purpose, all-season lubricant for the wet brakes, transmissions, drive lines, and hydraulic systems of heavy-duty equipment in sectors like construction and mining.
Suncor sells UK oil assets to Equinor
15/03/2023 by Richard
Canada’s Suncor Energy has reached a deal to sell its UK oil assets to Equinor of Norway for $850 million.
Valvoline finalises sale of global products division
14/03/2023 by OilStoreAdministrator
Leading lubricant brand Valvoline has completed the sale of its global products division to the Saudi oil giant Aramco in
Shell reconsiders oil production cuts
13/03/2023 by Mark
In an interview with The Times, Wael Sawan, the new CEO of Shell, said that the company is reviewing its previous decision to wind down its crude oil production by around
DuPont celebrates 75th anniversary of Molykote brand
12/03/2023 by Mark
Parent company Dupont recently marked the 75th anniversary of the founding of the Molykote brand
API reports further build in US oil inventories
10/03/2023 by Richard
According to new data from the American Petroleum Institute (API), inventories of crude oil in the United States rose by 6.2 million barrels in the last full week of February, meaning that
BP considers GBS for Greater Tortue Ahmeyim development
08/03/2023 by Mark
UK-based energy major BP has confirmed that it is moving forward with evaluating the second phase of its Greater Tortue Ahmeyim (GTA) project for liquefied natural gas (LNG) production, with it considering
Iraq makes deals to boost oil and gas production
07/03/2023 by Richard
The second-biggest producer of oil in OPEC, Iraq, has announced a series of deals aimed at realizing the country’s long-held ambition of scaling up its oil and gas production.
Oil prices drop on large US inventory build
03/03/2023 by Mark
Reports from the US Energy Information Administration (EIA) of a large increase in crude oil inventories in mid-February caused Brent crude prices to almost drop below $80 per barrel.
OPEC boss calls for greater unity in oil industry
01/03/2023 by Mark
The head of the Organisation of the Petroleum Exporting Countries (OPEC), Haitham Al Ghais, has called for the industry to demonstrate more unity and be proactive in dealing with criticisms of being major polluters.