OPEC+ to extend production cuts
13/03/2024 by Mark
Members of the OPEC+ group, which includes OPEC members and other oil-producing countries like Russia and Mexico, have extended their cuts to
Chevron and ExxonMobil in disagreement over Guyana stake
07/03/2024 by OilStoreAdministrator
Chevron has indicated in a securities filing that its planned acquisition of Hess Corp for $53 billion could fall apart.
US rig count rises by six
05/03/2024 by Mark
Data published by oil field services company Baker Hughes has revealed that the number of oil rigs operating in the US increased by six in February.
BP calls 2023 “the year of delivery”
27/02/2024 by OilStoreAdministrator
BP has posted its fourth-quarter results for 2023, with it referring to the year as a whole as being a “year of delivery”.
ExxonMobil production exceeds 600,000 bpd in Guyana
23/02/2024 by Mark
Oil production in Guyana, which is currently dominated by US oil major ExxonMobil, has now exceeded 600,000 barrels per day (bpd) as its third development project approaches peak production.
IEA prepared for oil market shocks
21/02/2024 by Richard
The head of the International Energy Agency (IEA), said that the organisation is prepared to coordinate the release of oil reserves, should extreme weather or geopolitical tensions disrupt supply.
Chevron produces record volume of oil and gas
13/02/2024 by Richard
US oil major Chevron has posted its fourth quarter results for 2023, with it reporting that it produced more oil and gas last year than it has in any year of its long history.
OPEC production fell 410,000 bpd in January
09/02/2024 by OilStoreAdministrator
Reuters reports that its survey of oil production has revealed that total production from OPEC countries was
Libya restarts production at Sharara oil field
08/02/2024 by Richard
After a two-week pause, the National Oil Corp. (NOC) of Libya has announced the lifting of force majeure for the Sharara oil field.
Shell to convert German facility to make base oil
05/02/2024 by Richard
The German arm of UK-based oil major Shell has announced that it will repurpose its hydrocracker at the Energy and Chemicals Park Rheinland in Wesseling.
IEA predicts record global oil production this year
02/02/2024 by Richard
In its latest Oil Market Report (OMR), the International Energy Agency (IEA) has predicted that the global production of crude oil will reach a new record high of 103.5 million barrels per day (bpd), with…
TrAchem Rebrands as Oil Store
31/01/2024 by Daniel Tait
TrAchem Lubricants Rebrands as Oil Store: Simplifying and Strengthening Presence in Lubricants Industry 31st January 2024 TrAchem Lubricants, a renowned supplier of quality lubricants for nearly 30 years, announces its rebranding as Oil Store, effective…