OPEC hikes long-term prediction for demand
13/10/2023 by Richard
In its recently published 2023 World Oil Outlook, OPEC has raised its prediction for the global demand for oil in 2045 from 110 million bpd (barrels per day) to 116 million bpd.
Saudi Arabia signals willingness to raise oil production
12/10/2023 by Mark
The Wall Street Journal reports that Riyadh has signalled its willingness to raise oil production to counter rising prices.
TotalEnergies sells stake in Surmont to ConocoPhillips
12/10/2023 by Mark
France-based TotalEnergies has completed the sale of its 50% stake in the oil sands projevy in Surmont, together with
ExxonMobil to consider buying US shale rival
11/10/2023 by OilStoreAdministrator
Reuters report sources familiar with the matter as saying that US-based ExxonMobil is in talks to buy Pioneer Natural Resources in a deal worth $60 billion.
Oil production unchanged following OPEC+ meeting
10/10/2023 by Richard
At the most recent meeting of the Joint Ministerial Monitoring Committee (JMMC), which was held over videoconferencing, the OPEC+ group together decided to leave their production of crude oil quotas unchanged.
TotalEnergies joins G+ wind safety group
09/10/2023 by Katie
Following formal approval from the G+ Annual General Meeting, France-based TotalEnergies has become the latest G+ group board member, which is the offshore wind industry’s global organisation for health and safety.
OPEC boss expects growing demand for oil
09/10/2023 by Mark
Haitham Al Ghais, the Secretary General of OPEC, has said he expects the global demand for crude oil to remain “resilient” this year.
Record US production offsets OPEC+ cuts
06/10/2023 by greg
Oil producers in the US are helping to counter shortages in the supply of crude oil by reaching record levels of production, despite deploying fewer drilling rigs.
Castrol launches branded solar-based vehicle servicing
06/10/2023 by OilStoreAdministrator
Leading lubricant brand Castrol has reached a new level of sustainability by launching a solar-powered solution for vehicle servicing.
Shell does deal with Emirates to supply SAF
05/10/2023 by Mark
Shell’s aviation arm has reached a deal with the Emirates airline to supply it with 300,000 gallons of sustainably blended aviation fuel (SAF).
ExxonMobil moves to high-value crude products
04/10/2023 by OilStoreAdministrator
With customer demand shifting as part of the energy transition, ExxonMobil says it is moving its refining operations away from fuels and towards higher value products like lubricants.
The importance of oils in metalworking
03/10/2023 by OilStoreAdministrator
Metalworking oils, sometimes referred to as metalworking fluids, is an umbrella term for an extensive selection of different lubricants designed to assist in metalworking processes. The oils are engineered to