OPEC+ meeting sticks to current plan
31/07/2025 by OilStoreAdministrator
At the 61st meeting of the Joint Ministerial Monitoring Committee (JMMC), the OPEC+ group offered no signs of changing policy.
BP appoints new chairman
29/07/2025 by OilStoreAdministrator
UK-based energy company BP has announced the appointment of Albert Manifold to serve as its new chairman from this autumn.
Chevron completes Hess takeover
28/07/2025 by Mark
US-based oil major Chevron has now completed its acquisition of Hess Corporation after a favourable ruling over Hess’s Guyana interest.
OPEC report says no peak oil in sight
21/07/2025 by OilStoreAdministrator
OPEC’s latest World Oil Outlook predicts that the global demand for crude oil will rise to 123 million barrels per day (bpd) by 2050.
EIA downgrades US oil production forecast
17/07/2025 by Richard
In its latest Short-Term Energy Outlook, the US Energy Information Administration (EIA) has slightly revised the expected growth of oil production in the US.
OPEC+ raises production by more than expected
14/07/2025 by Richard
In a surprise move, OPEC+ has announced that it will raise its target production level by 548,000 barrels per day (bpd) for August.
Morrison’s owner joins Castrol bidders
10/07/2025 by Mark
Sky News recently reported that private equity firm Clayton Dubilier & Rice (CD&R) has joined the list of suitors to buy the Castrol business from BP.
Shell formally denies BP takeover approach
03/07/2025 by OilStoreAdministrator
UK-based Shell has put to rest speculation that it has approached fellow UK oil major BP about acquiring the company.
What does OEM approved mean?
03/07/2025 by Mark
When ordering lubricants or replacement parts, operations using mechanical equipment onsite often encounter the terms “OEM approvals” and “OEM part numbers”.
UK North Sea could have more gas and oil than thought
01/07/2025 by Jay Hatton
According to a new study, the UK portion of the North Sea could meet more of the country’s gas and oil needs.
ExxonMobil ramps up Guyana exploration efforts
30/06/2025 by Thomas Clark
US-based oil major ExxonMobil is building on its previous successes with the Stabroek Block offshore of Gyana by continuing to explore.
Chevron reveals subsurface imaging technology
26/06/2025 by Daniel Tait
US-based oil major Chevron has showcased how advanced imaging technology is enabling it to better characterise reservoirs in the subsurface.