Guyana to use oil wealth to transform economy
09/05/2022 by OilStoreAdministrator
The small South American nation of Guyana, which currently has the world’s fastest growing economy, is planning to avoid the curse that often accompanies the discovery of oil wealth by transforming into a
BP pledges billions in UK investment
06/05/2022 by Richard
British-based energy major BP has said it will invest £18 billion in UK projects over the coming eight years, including oil and gas
Chevron further raises Permian production target
05/05/2022 by Mark
US-based oil major Chevron has announced that it is raising its targeted daily production in the Permian Basin to 725,000 barrels per day (bpd) of crude oil, a 15% increase on last year, compared to…
Demand for oil could peak in just few years
03/05/2022 by Richard
In its report titled Global Energy Perspective 2022, global management consulting company McKinsey & Company said that the demand for crude oil could peak within two to five years, being driven by a drop in…
ExxonMobil makes three new Guyana discoveries
02/05/2022 by Mark
US-based oil major ExxonMobil has continued its run of discoveries offshore of Guyana with three new finds, resulting in it raising its estimate for recoverable oil and gas in
What are the different uses of Petronas Lubricants?
01/05/2022 by OilStoreAdministrator
Petronas Lubricants International manufactures lubricants on a global scale and is an extension of Petronas, Malaysia’s official national oil corporation. Since it was
Why should you use Petronas lubricants?
30/04/2022 by Richard
Currently ranked in the top 10 lubricant manufacturers in the world, Petronas Lubricants International (PLI) is the global lubrication marketing and manufacturing arm of the Malaysian national oil
IEA outlines oil stocks release
28/04/2022 by Mark
The International Energy Agency (IEA) has released details for how its member countries will release some 182.7 million barrels of crude oil and oil products over the coming months.
Shell transition plan on schedule
26/04/2022 by Mark
In its most recent report on transition progress, Shell says it has made solid progress to becoming a net-zero emissions business by 2050 despite the disruption caused by the war in Ukraine.
Demand optimism prompts US drillers to pump more oil
21/04/2022 by Richard
Despite a shortage of labour and disruption to supply chains, optimistic sentiment about the continued demand for crude oil are prompting US operators to ramp up production.
Ineos asks for chance to prove fracking safe
20/04/2022 by Mark
Energy giant Ineos has written to the UK’s government asking for the opportunity to develop a test site for extracting shale gas to prove that the process is
US rig count increases again
14/04/2022 by Mark
According to Baker Hughes, which provides services to the energy sector, the US rig count rose for the third week in a row to reach 689, the highest number