Petrobras CEO confirms no OPEC+ production cuts
11/12/2023 by Mark
Jean Paul Prates, the chief executive of Brazilian oil producer Petrobras, has denied that Brazil will see any form of production cuts when it joins the OPEC+ group.
OPEC+ agrees further voluntary production cuts
08/12/2023 by Richard
At their latest online meeting, oil producers in the OPEC+ group have agreed a package of 2.2 million barrels per day (bpd) in voluntary production cuts for the first quarter of next year.
Fuchs CFO recognised by Capital business magazine
04/12/2023 by OilStoreAdministrator
Isabelle Adelt, Fuchs SE’s Chief Financial Officer (CFO) has beaten hundreds of candidates to be included in the “Top 40 under 40” management category of the business magazine Capital.
IEA sees oil surplus next year
01/12/2023 by Mark
Speaking to Reuters in Oslo on the sidelines of a conference, Toril Bosoni, the head of the oil industry and markets division at the International Energy Agency (IEA), has said that next year will see…
Venezuelan oil production rises after sanctions easing
30/11/2023 by Richard
Reuters reports Erick Perez, the deputy oil minister of Venezuela, as saying that the country is now pumping 850,000 barrels per day (bpd) of crude oil.
Shell finds gas offshore of Egypt
29/11/2023 by OilStoreAdministrator
Shell’s Egyptian arm has discovered natural gas offshore of Egypt in the Mediterranean Sea at the North-East El-Ammiya block.
ExxonMobil to invest $15 billion in Indonesian refinery and CCS facility
27/11/2023 by Richard
US-based oil major ExxonMobil has met with Indonesia President Joko “Jokowi” Widodo in San Francisco and announced $15 billion in investment in Indonesia in the form of a green refinery and a facility for carbon…
OPEC+ to consider further production cuts
22/11/2023 by Richard
Reuters reports three sources from within the OPEC+ group as saying that the cartel will discuss the option of making production cuts to support oil prices.
ExxonMobil looks to become major lithium player
18/11/2023 by Katie
ExxonMobil has already begun work on producing lithium in the southwest region of Arkansas with the aim of become a leading supplier of the metal, which is vital to
Oil traders dealing in Venezuelan crude again
17/11/2023 by Richard
Despite it being mere weeks since the US temporarily lifted most of its sanctions on Venezuela, many big independent oil traders are already offering shipments of the country’s crude oil.
Iraq reaches understanding over Kurdistan oil exports
16/11/2023 by OilStoreAdministrator
Hayan Abdel Ghani, the oil minister of Iraq, has said the country expects oil exports to resume soon from the semi-autonomous region of Kurdistan through a pipeline to Turkey.
Chevron CEO commits to lowering carbon intensity
15/11/2023 by greg
The CEO and Chairman of Chevron, Mike Wirth, has said the US-based oil major has earmarked $10 billion up to 2028 to invest in