Adnoc boss warns against halting oil investment
04/11/2022 by Mark
The CEO of the Abu Dhabi National Oil Company (Adnoc), Sultan Ahmed Al Jaber, has warned that continued investment in oil projects is needed to maintain the current level of global oil production and ensure…
BP makes improvements in North Sea operations
03/11/2022 by Mark
Together with its partners, BP has been making a series of improvements to its North Sea operations with the aim of increasing gas supply to the UK and reducing greenhouse gas emissions.
Shell signals willingness to pay more taxes
03/11/2022 by OilStoreAdministrator
As Shell posted third-quarter profits of $9.5 billion, its CEO, Ben van Beurden, said that it was ready to embrace higher taxes. He pointed out that with companies like Shell benefitting from high oil and…
IEA: Energy-related carbon emissions to peak in 2025
02/11/2022 by Richard
The International Energy Agency (IEA) has predicted that carbon emissions resulting from energy generation will peak in just a few years in what it calls a “historic turning point”.
Shell to acquire Europe’s largest producer of renewable gas
02/11/2022 by OilStoreAdministrator
Energy major Shell has come to a deal worth £1.66 billion to buy the entirety of Danish firm Nature Energy, which is Europe’s largest producer of biogas.
ExxonMobil makes yet more discoveries offshore of Guyana
01/11/2022 by Mark
In what has become a regular occurrence, the US-based energy major ExxonMobil has made two further discoveries in the Stabroek block off the coast of Guyana. According to the company, the drillship Stena Carron drilled…
Saudi Arabia signals willingness to supply more oil if needed
30/10/2022 by Katie
Prince Abdulaziz bin Salman, the energy minister of Saudi Arabia, has defended the recent controversial production cuts by the OPEC+ group, while signalling that his country stands ready to increase production again if upcoming sanctions…
US indicates further oil reserve releases
27/10/2022 by OilStoreAdministrator
Joe Biden, the US President, has indicated that his administration may release further oil from the country’s Strategic Petroleum Reserve (SPR) to bring down fuel prices.
Regulator says new measures could boost North Sea oil production
26/10/2022 by Richard
The North Sea Transition Authority (NSTA), which regulates oil and gas production in the UK North Sea, has published a report outlining how oil and gas production in the North Sea could be boosted relatively…
OPEC+ members defend steep production cut
21/10/2022 by Richard
Representatives from OPEC+ participating countries have lined up to defend the group’s recent decision to cut its total production by two million barrels per day.
Massive Kashagan oilfield to restart production this month
19/10/2022 by OilStoreAdministrator
According to Bolat Akchulakov, Kazakhstan’s Energy Minister, the Kashagan oilfield in Kazakhstan’s portion of the Caspian Sea will resume full production by the end of the month.
OPEC revises down growth in oil demand
18/10/2022 by Katie
In its latest forecast, OPEC has cut its estimates for growth in the demand for crude oil this year and next year.