New CEO for Aramco investment arm
02/09/2020 by Mark
Saudi Arabia’s state-owned oil company, Saudi Aramco, has appointed a new CEO for its half-a-billion-dollar investment and venture capital spinoff Saudi Aramco
US Gulf producers cut operations ahead of storms
28/08/2020 by OilStoreAdministrator
US oil companies in the Gulf of Mexico cut production this month as a rare, back-to-back pair of tropical storms was due to hit the region. Figures from the Bureau of Safety and Environmental Enforcement…
Russia becomes world’s number two oil producer
26/08/2020 by Mark
Russia has surpassed Saudi Arabia to become the world’s second largest oil
OPEC+ leaders advocate continuing production cuts
24/08/2020 by Richard
Bloomberg has reported that Russian Energy Minister Alexander Novak and his Saudi equivalent Prince Abdulaziz bin Salman spoke in a recent video conferencing meeting about maintaining the current production cuts. While they both welcomed a…
Shell launches European tolling solution for commercial fleets
22/08/2020 by OilStoreAdministrator
Oil major Shell has announced its European Electronic Tolling Solution (EETS), which will simplify toll payments in many European countries for
Bank of America revises Brent forecast upwards
20/08/2020 by Mark
The UK oil industry may fare better than expected, according to the Bank of America’s Global Energy Weekly and as quoted by
Valvoline introduces new Premium Blue One Solution
18/08/2020 by Richard
Leading lubricant maker Valvoline has released the next iteration of its Premium Blue One Solution, a commercial vehicle oil originally launched in 2018. As with its predecessor, the Premium Blue One Solution Gen2 has been…
Chinese oil imports up 25% in July
14/08/2020 by Richard
According to official customs data reported by Reuters, the amount of crude oil imported into China in July – although slightly down on June’s record figure – was up 25% compared with
BP publishes its net-zero strategy
12/08/2020 by Mark
BP has recently published its strategy for fulfilling its commitment to becoming a net-zero emissions integrated energy company by 2050, signalling a shift away from
Shell agrees to charter six new ultra-efficient LNG carriers
10/08/2020 by OilStoreAdministrator
Oil major Royal Dutch Shell has agreed to charter six 174,000-cubic-metre liquefied natural gas (LNG) carriers after entering into agreements with
Total completes sale of North Sea assets
08/08/2020 by OilStoreAdministrator
Energy company Total has successfully finalised the sale of oil and gas assets on the UK Continental Shelf (UKCS) to Neo Energy, which was created last year with the backing of
Total and Shell avoid Q2 losses
06/08/2020 by Mark
Oil majors Total and Royal Dutch Shell have beat analysts’ expectations by posting modest profits. Given the drastic drop in demand for oil since nations around the world initiated coronavirus lockdowns, the two firms had