North Dakota achieves record oil production
22/12/2019 by Mark
Most people probably think about the Permian Basin of Texas and New Mexico when it comes to US shale oil production. North Dakota is also experiencing its own oil boom, though, with its Department of…
OPEC+ agrees deeper-than-expected production cuts
12/12/2019 by Richard
OPEC and its partners, commonly known as OPEC+, have come to an agreement to extend and deepen the production limits that began in 2017. Under the new deal hammered
Suncor predicts higher production next year
08/12/2019 by OilStoreAdministrator
Suncor Energy Inc., an integrated Canadian energy company, has announced that it expects its oil and gas production to rise by 5% next year. It also added that there was
Russia to request change in how its output is calculated
06/12/2019 by OilStoreAdministrator
Reuters reports sources claiming that Russia is set to ask for changes in how its oil production is measured as
Saudi Arabia looks to boost oil price before Aramco IPO
04/12/2019 by Mark
Saudi Arabia is expected to push for measures to boost oil prices ahead of the upcoming initial public offering (IPO) of Saudi Aramco, the country’s state-owned oil company, which is also the largest oil company…
US shale to pump more oil than Russia
18/11/2019 by OilStoreAdministrator
Despite recent signs of a slowdown and less-than-optimistic forecasts for future production growth, the International Energy Agency (IEA) believes
US oil production growth set for major slowdown
14/11/2019 by Mark
The growth in US oil production may be running out of steam, according to IHS Markit’s latest outlook for oil market fundamentals. According to IHS Markit’s vice president for North American uncoventionals, Raoul LeBlanc, production…
Brazil looks to more than double oil production
12/11/2019 by OilStoreAdministrator
Bento Albuquerque, Brazil’s Energy Minister, has said the country can potentially more than double its oil production, although he did not indicate how quickly this could be realised. Currently, the
IEA says oil markets could be oversupplied in 2020
04/11/2019 by Richard
The Paris-based International Energy Agency (IEA) has said in its latest monthly report that it expects oil markets to show a supply surplus in 2020 in the absence of a strong recovery in demand.
Shell publishes cylinder oil guidance for IMO 2020
28/10/2019 by Richard
Shell’s marine-oriented arm has published a new whitepaper providing guidance for ship operators as they transition to meet the low-sulphur caps being introduced by the IMO at the start of next year. The whitepaper,
ExxonMobil signs MoU with the Indian Institute of Technology
21/10/2019 by Mark
Energy major ExxonMobil has announced that it has entered into a Memorandum of Understanding (MoU) with the Indian Institute of Technology, specifically at its Bombay and Madras locations, to further research into
ExxonMobil to sell upstream Norway assets for $4.5bn
03/10/2019 by Mark
Oil major ExxonMobil has announced that it has signed an agreement to sell its non-operated Norwegian upstream assets. Under the