US saw second-highest oil production on record last year
13/01/2023 by Richard
Initial data from the Energy Information Administration (EIA) indicates that US oil production last year was at its second-highest level on record.
Chevron accelerates activities in Venezuela
12/01/2023 by greg
US-based oil major Chevron is continuing to increase its operational activities in Venezuela after being granted a license by the US Government to increase the scope of its operations there.
Indications of hydrocarbons found in UK North Sea well
11/01/2023 by OilStoreAdministrator
After drilling an appraisal well at Block 30/12d of the UK central North Sea, TotalEnergies found “signs of hydrocarbons”.
ExxonMobil's advanced recycling facility goes live
09/01/2023 by OilStoreAdministrator
US-based oil major ExxonMobil has announced that it has started operations at a large-scale recycling facility at Baytown, Texas as part of its combined manufacturing complex.
Chevron and ExxonMobil to focus on the Americas
09/01/2023 by Katie
US-based oil majors Chevron and ExxonMobil are set to refocus their efforts closer to home as they concentrate on their operations in the Permian Basin and other oil and gas projects in North and South…
Chevron sends oil tankers to Venezuela
06/01/2023 by Mark
According to a source reported by Reuters, Chevron is sending two oil tankers to Venezuela, marking the first time that Venezuelan crude will be shipped to the United States in four years.
Is there a difference between regular oil and marine oil?
05/01/2023 by Katie
The purpose of oil is to lubricate mechanical systems to keep them running efficiently, while protecting them from harm. It is understood that the type of operating environment involved will always impact the type of…
Eni and TotalEnergies make Cyprus discovery
04/01/2023 by OilStoreAdministrator
Eni and its partner TotalEnergies have made another discovery of natural gas in the waters off the coast of Cyprus. The Tungsten Explorer drill ship drilled the
US to begin refilling oil reserves
03/01/2023 by OilStoreAdministrator
The United States is to start buying oil to refill its Strategic Petroleum Reserve (SPR), the largest emergency stockpile of crude oil in the world.
US sees surprise increase in crude inventories
29/12/2022 by OilStoreAdministrator
A four-week long streak of US crude oil inventory drawdowns was broken when official data from the American Petroleum Institute (API) showed an unexpected build of 7.819 million barrels, compared to an anticipated drawdown of…
Permian operators drill deeper as production starts to plateau
28/12/2022 by Mark
According to BMO Capital Markets, over two-thirds of the premium land in the prolific US Permian Basin has already been drilled for oil, meaning that operators are looking for other opportunities to maintain production.
IEA raises its forecast for global oil demand
27/12/2022 by Richard
In its December Oil Market Report, the International Energy Agency (IEA) has upwardly revised its expectations for how the demand for oil will grow.