Guyana declines discounted oil sales to India
27/04/2023 by OilStoreAdministrator
Bharrat Jagdeo, the Vice President of Guyana, has said that his country has refused to sell crude oil to India at a discount, insisting that any sale needs to be at a commercial rate.
US could start refilling oil reserve in early autumn
26/04/2023 by Mark
The US Government could begin refilling the Strategic Petroleum Reserve (SPR) early in autumn this year. This is according to the US President’s coordinator for energy security and global infrastructure, Amos Hochstein.
Demand concerns trigger falling oil prices
25/04/2023 by Richard
Worries about lower demand from Western countries this year caused oil prices to drift lower, reversing some of the gains seen after the OPEC+ group announced a substantial production cut.
Shell brings Pierce field back online
21/04/2023 by Mark
UK-based energy giant Shell has announced that production has restarted at the Pierce field in the UK waters of the North Sea after substantial modifications to the production vessel.
Guyana extends deadline for licensing round
20/04/2023 by Richard
The Government of Guyana, which has recently become a hotspot for oil discoveries, has announced a three-month extension to the deadline for bids in the country’s first-ever round for offshore licenses.
Non-OPEC countries to drive oil production growth
19/04/2023 by OilStoreAdministrator
In its latest Short Term Energy Outlook, the US Energy Information Administration (EIA) has pointed to greater growth in crude oil production from non-OPEC countries this year.
BP’s Argos platform begins production
19/04/2023 by Mark
UK-based energy giant BP has announced that its Argos platform in the Gulf of Mexico has successfully begun producing crude oil.
EIA still expects crude oil surplus
17/04/2023 by Richard
Despite the recent surprise cut in production from the OPEC+ group of countries, the US Energy Information Administration (EIA) has said
BP buys 40% interest in carbon capture project
16/04/2023 by Katie
UK-based energy major BP has purchased a 40% stake in the Viking CCS project in order to boost its
OEUK calls for policies to attract North Sea investment
14/04/2023 by OilStoreAdministrator
Offshore Energies UK (OEUK), an industry body representing the UK’s offshore energy sector, has issued a warning regarding
Shell produced more gas than expected in first quarter
13/04/2023 by greg
The share price of UK-based energy major Shell received a modest boost on news that it believes it has produced more natural gas than expected in the first quarter of the year.
UN supertanker sets sail to avert Red Sea spill
13/04/2023 by Mark
A very large crude carrier (VLCC) has departed from Zhoushan, China on a mission to transfer around a million oil barrels from FSO Safer. FSO Safer is a supertanker that has been moored offshore of…