US energy secretary predicts secure future for oil
16/05/2020 by Mark
Dan Brouillette, who has been Donald Trump’s energy secretary since December last year, has expressed confidence that the oil sector will soon bounce back from the recent extensive losses. The ongoing coronavirus pandemic
US oil production cuts exceeding expectations
14/05/2020 by Mark
Despite the lack of any formal agreement, analysis from Reuters suggests that US oil producers will cut output by
Downstream 2020 to go online
12/05/2020 by OilStoreAdministrator
With the ongoing pandemic ruling out traditional expos and conferences, Reuters Events has decided to organise Downstream 2020 as
Shell and BP stocks rally on increasing crude prices
10/05/2020 by OilStoreAdministrator
With a gradual easing in lockdown restrictions around the world, the stock prices of Shell and BP increased last Tuesday, May 5 as
Oil majors see signs of recovery in China
08/05/2020 by Richard
Some the big oil companies are beginning to notice a fledgling recovery in China as demand increases for oil and refined products. Strict
How ExxonMobil is stepping up medical product manufacture
05/05/2020 by Mark
The oil industry may be facing tough times at the moment, with the COVID-19 pandemic causing a drop in both price and demand, but oil companies like
Oil companies start using US Strategic Petroleum Reserve
04/05/2020 by Richard
With storage apparently running out in the US, some oil companies have started sending oil to the Strategic Petroleum Reserve (SPR) following an agreement with the
Shell reaffirms importance of Shetland field
04/05/2020 by OilStoreAdministrator
While reduced demand and low prices remain a problem in the oil industry, Shell has confirmed that the Cambo discovery to the west of Shetland is still an
Saudi Arabia begins early oil production cuts
02/05/2020 by OilStoreAdministrator
The new agreement by the OPEC+ group of oil-producing countries is set to take effect on May 1, but Saudi Arabia has already begun implementing
The history of oil prices
01/05/2020 by OilStoreAdministrator
Oil prices have always been subject to huge change. Fuel forecourt prices have historically fluctuated in a way that the produce in the supermarket next door has
ExxonMobil repurposes facilities to make hand sanitiser
30/04/2020 by Mark
US-based energy company ExxonMobil has announced that it has successfully reconfigured production facilities in Louisiana to make medical-grade hand sanitiser. The company is
How will COVID-19 affect the oil industry?
29/04/2020 by Mark
The effects of the COVID-19 pandemic are being felt in every part of life, and the oil industry is no exception. Perhaps the