EIA ramps up US oil production forecast
17/08/2023 by OilStoreAdministrator
In its latest Short-Term Energy Outlook, the US Energy Information Administration (EIA) has raised its forecast for total US production of crude oil by
Shell to start surveying Malaysian waters
16/08/2023 by Richard
UK-based energy giant Shell will begin exploring for new drilling opportunities off the coast of Malaysia, with the geographical survey work expected to be finished by
New discovery could cut shale oil production costs
15/08/2023 by OilStoreAdministrator
Skoltech, a petroleum engineering firm based in Russia, has found that the expensive surfactants used in many enhanced oil recovery (EOR) operations may be counterproductive, with the company’s
Saudi Arabia says it could deepen production cuts
14/08/2023 by Mark
The state news agency of Saudi Arabia has cited the country’s energy minister as saying that its voluntary cut in the production of crude oil could be
OPEC+ leaves oil production unchanged
11/08/2023 by Richard
In its latest Joint Ministerial Monitoring Committee (JMMC), the OPEC+ group has decided to maintain the production of
Architects ask Shell to reassess controversial demolition
10/08/2023 by OilStoreAdministrator
A group of 40 academics, architects and other relevant professionals have submitted a letter to Aberdeen City Council urging it and Shell to reconsider a planned demolition of the
Permian operators planning to ramp up production
08/08/2023 by Richard
Despite expectations of a dip in production in the prolific Permian basin of West Texas and New Mexico, gas and oil companies are
OPEC+ could fragment says portfolio manager
04/08/2023 by OilStoreAdministrator
The member countries of OPEC+ group could be close to breaking up, according to Per Lekander, a managing partner of the Clean Energy Transition investment group Speaking to “Street Signs Europe” on CNBC, Ledanker has…
Why you should check and change your vacuum pump oil
03/08/2023 by Mark
When operating properly, vacuum pumps can improve the efficiency and consistency of manufacturing machinery onsite. However, to appreciate their benefits, pumps must always be regularly maintained. An important part of vacuum
Goldman Sachs predicts record demand for crude oil
02/08/2023 by Richard
Investment bank Goldman Sachs is anticipating crude oil prices to rise this year, as record demand triggers inventory draws.
UAE says further OPEC+ action unnecessary for now
31/07/2023 by Mark
Suhail al-Mazrouei, the energy minister of the United Arab Emirates (UAE), has said that the OPEC+ measures currently in place will suffice to support the market for crude oil, at least for now.
ExxonMobil to double its LNG trade
27/07/2023 by OilStoreAdministrator
US-based oil major ExxonMobil is looking to handle more than twice as much liquefied natural gas (LNG) by the end of