OPEC predicts possibility of stronger oil demand
21/02/2022 by Mark
In its latest report, the Organization of the Petroleum Exporting Countries (OPEC) has pointed to indications that the global demand for oil may
BP to spend 40% on energy transition by 2025
20/02/2022 by OilStoreAdministrator
Following the announcement of profits at an eight-year high, BP has said that by the year 2025, 40% of its total spending will go into projects that form part of the energy transition, with this
TotalEnergies extends its US renewables presence
18/02/2022 by Mark
French oil major TotalEnergies has agreed to acquire SunPower’s commercial and industrial (C&I) business. SunPower, for which TotalEnergies is a majority shareholder, is a California-based firm specialising in products and services
US oil production could reach new record high
16/02/2022 by Richard
According to the latest Short-Term Energy Outlook from the US Energy Information Administration (EIA), the US could be producing an average of 12.6 million barrels per day (bpd) in 2023, which would be
Humber industrial cluster to get Shell decarbonisation technology
14/02/2022 by OilStoreAdministrator
Shell Catalysts & Technologies has been selected by the Zero Carbon Humber scheme, which is led by Equinor, to provide carbon-capture technology to help decarbonise VPI Immingham, which is a combined heat-and-power (CHP) station that…
BP buys stake in green fuel company
12/02/2022 by Mark
Energy company BP, the maker of industrial lubricants like the Castrol Aircol range of compressor oil, has acquired a stake of 30% in the UK’s largest producer of
Chevron and ExxonMobil to boost Permian output
10/02/2022 by Richard
US-based oil majors ExxonMobil and Chevron have both announced plans to significantly ramp up oil production from their Permian Basin assets, indicating that the region could be returning to growth after a period of
OPEC+ sticks with planned production increase
08/02/2022 by OilStoreAdministrator
In a 16-minute meeting, the shortest in its history, the OPEC+ group approved the next planned collective production increase of 400,000 barrels per day (bpd) of crude oil, defying some analysts’ expectation of a greater…
ExxonMobil to move headquarters amid restructure
06/02/2022 by Mark
US-based major ExxonMobil has announced that it will move its headquarters from the Dallas, Texas suburb of Irving to its Houston campus as part of its
Chevron sees best profits since 2014
04/02/2022 by Mark
US oil major Chevron showed how the industry has turned a corner by posting yearly profits of $15.6bn (£11.55bn) for 2021.
Shell begins green hydrogen production in China
02/02/2022 by Mark
Energy giant Shell has started producing green hydrogen at one of the world’s biggest electrolysers in China, with it supplying about half the hydrogen needed to power the fuel cell vehicles during this month’s sporting…
BP seeks government backing for low-carbon projects
30/01/2022 by OilStoreAdministrator
Energy supermajor BP says it has made an application for government backing for two low-carbon projects based in Teesside as part of the East Coast Cluster of the Northern Endurance Partnership, which was approved by…