Fuchs reports strong results for year so far
11/11/2024 by Richard
Germany-based lubricant provider Fuchs SE has reported good financial results for the first three quarters of the year despite challenging market conditions.
Chevron announces record quarterly production
08/11/2024 by Mark
Oil major Chevron produced more oil than ever before in the last quarter, according to its third-quarter results.
ExxonMobil announces highest production for 40 years
07/11/2024 by OilStoreAdministrator
US-based oil major ExxonMobil has announced that its liquids production hit the highest level in 40 years.
New pipeline to boost Permian oil production
29/10/2024 by Richard
A new natural gas pipeline has opened in the Permian Basin of West Texas and New Mexico, relieving some of the transport constraints.
IEA boss points to weak global demand for oil
28/10/2024 by OilStoreAdministrator
The executive director of the International Energy Agency (IEA), Fatih Birol, has warned that the world’s demand for crude oil looks set to remain relatively weak.
Gas and oil companies to invest further next year
24/10/2024 by Richard
Analytics company Wood Mackenzie has forecasted that the world’s 23 largest gas and oil producers will increase their investment by 60% next year.
OPEC revises down demand growth predictions
22/10/2024 by Mark
In its latest Monthly Oil Market Report (MMOR), OPEC has revised down its forecasts for demand growth for this year and the next.
Libya oil production back to pre-dispute levels
21/10/2024 by Richard
Oil production in Libya has been restored to 1.3 million barrels per day (bpd) following the resolution of a political dispute over the Libyan central bank’s next governor.
ExxonMobil looking to boost Guyana production
16/10/2024 by Richard
Alistair Routledge, ExxonMobil’s country manager for Guyana, has told a press conference that the company is looking to boost its production.
BP to focus more on gas and oil production
14/10/2024 by Mark
Reuters reports that three sources have told it that BP is due to unveil a new strategy, whereby it will pivot back towards its traditional gas and oil business.
Hess's merger with Chevron passes antitrust review
11/10/2024 by Richard
US-based oil major Chevron has announced that the company’s merger with fellow US-based oil company Hess has passed an antitrust review.
OPEC+ to increase production in December
08/10/2024 by Richard
Reuters quotes sources from OPEC+ as saying that the organisation will proceed with some increases in the production of crude oil from December.