Calls for greater gas and oil investment with rapid transition
03/09/2023 by greg
Speaking to the B20 conference in New Delhi, BP CEO Bernard Looney said that in addition to accelerating the energy transition to reduce the emission of greenhouse gases, the global community must also
US prepares to ease Venezuela sanctions
01/09/2023 by Mark
Reuters reports five sources familiar with the matter as saying that officials in Washington are preparing a proposal that would ease the restrictions on the oil industry of Venezuela in return for the country making…
Saudi production cut expected to last through October
31/08/2023 by OilStoreAdministrator
Five industry analysts have together predicted that Saudi Arabia will extend its voluntary crude oil production cut of one million barrels a day (bpd) for its third month, taking it to the end of October.
Shell moves forward with Selene prospect
28/08/2023 by Mark
UK-based energy major Shell has begun working on a geophysical site survey of the North Sea Selene prospect, which is one of the
TotalEnergies announces arrival of Lebanon drilling rig
24/08/2023 by Mark
Reuters reports that France-based energy and lubricant firm TotalEnergies has said that the TransOcean Barents drilling rig has now arrived offshore of Lebanon in preparation for exploration activity.
Spending on oil and gas exploration expected to recover
24/08/2023 by Richard
While investment in exploring for new oil and gas resources hit a historic low in the wake of the COVID-19 pandemic, Wood Mackenzie says in a new report that it will recover to
Report indicates that US shale may have peaked
23/08/2023 by OilStoreAdministrator
A new report from Enverus subsidiary Enverus Intelligence Research (EIR) has concluded that the US shale industry will find it more difficult to
Demand for oil hits record high
18/08/2023 by Mark
In its latest monthly oil report, the International Energy Agency (IEA) has said that the global demand for oil in
EIA ramps up US oil production forecast
17/08/2023 by OilStoreAdministrator
In its latest Short-Term Energy Outlook, the US Energy Information Administration (EIA) has raised its forecast for total US production of crude oil by
Shell to start surveying Malaysian waters
16/08/2023 by Richard
UK-based energy giant Shell will begin exploring for new drilling opportunities off the coast of Malaysia, with the geographical survey work expected to be finished by
New discovery could cut shale oil production costs
15/08/2023 by OilStoreAdministrator
Skoltech, a petroleum engineering firm based in Russia, has found that the expensive surfactants used in many enhanced oil recovery (EOR) operations may be counterproductive, with the company’s
Saudi Arabia says it could deepen production cuts
14/08/2023 by Mark
The state news agency of Saudi Arabia has cited the country’s energy minister as saying that its voluntary cut in the production of crude oil could be