Texaco manager discusses off-road challenges
12/05/2023 by OilStoreAdministrator
Eddy Devriese, the Europe OEMs manager for Texaco Lubricants, has given an interview in which he discusses the challenges facing off-road operations like mining and construction and what Texaco is doing to help overcome these…
A billion in windfall taxes paid by BP so far
10/05/2023 by marc-claude_ghibert
Speaking to Bloomberg, BP’s Chief Financial Officer, Murray Auchinclos, said his company had paid about $300 million under the UK’s windfall tax, which is formally known as the Energy Profits Levy (EPL), in the first…
ExxonMobil gets environmental approval for new Guyana project
10/05/2023 by OilStoreAdministrator
Guyana’s environmental protection agency has given final approval for the Uaru project, paving the way for the Exxon-led consortium to begin work on the project once the public comment period has successfully concluded.
Oil makes Guyana the fastest-growing economy
08/05/2023 by Richard
According to the International Monetary Fund (IMF), the fastest-growing economy in the world this year will be the relatively small South American country of Guyana, thanks to the oil boom in the country.
TotalEnergies to sell its oil sands operations in Canada
05/05/2023 by OilStoreAdministrator
France-based energy major TotalEnergies has announced it has accepted an offer from Suncor Energy to purchase its Canadian oil sands operations.
OPEC boss responds to IEA’s criticisms
04/05/2023 by Mark
The Secretary-General of OPEC, Haitham Al-Ghais, has accused the International Energy Agency (IEA) of “finger-pointing” and defended the OPEC+ group’s recent production cuts, saying
Novak hints at no more OPEC+ production cuts
03/05/2023 by Richard
The OPEC+ group should have no further need to cut crude oil production, according to Alexander Novak. The Deputy Prime Minister of Russia made
ExxonMobil pulls out of Colombia block
28/04/2023 by Katie
According to Rigzone, a spokesperson from ExxonMobil has confirmed that the firm will be withdrawing from Block VMM37 in Colombia.
Guyana declines discounted oil sales to India
27/04/2023 by OilStoreAdministrator
Bharrat Jagdeo, the Vice President of Guyana, has said that his country has refused to sell crude oil to India at a discount, insisting that any sale needs to be at a commercial rate.
US could start refilling oil reserve in early autumn
26/04/2023 by Mark
The US Government could begin refilling the Strategic Petroleum Reserve (SPR) early in autumn this year. This is according to the US President’s coordinator for energy security and global infrastructure, Amos Hochstein.
Demand concerns trigger falling oil prices
25/04/2023 by Richard
Worries about lower demand from Western countries this year caused oil prices to drift lower, reversing some of the gains seen after the OPEC+ group announced a substantial production cut.
Shell brings Pierce field back online
21/04/2023 by Mark
UK-based energy giant Shell has announced that production has restarted at the Pierce field in the UK waters of the North Sea after substantial modifications to the production vessel.