Libya set to further increase oil production
04/02/2021 by Mark
Libya is looking to build upon its recent ramping up of oil production. The country’s National Oil Corporation (NOC) has announced its intention to average
BP and Shell join effort to rescue stranded seafarers
02/02/2021 by OilStoreAdministrator
Oil giants Shell and BP, the maker of Castrol industrial lubricants, have joined with over 300 other global companies and organisations to tackle a humanitarian crisis caused by
Report says BP and Shell well-placed for energy transition
28/01/2021 by Richard
In a report on the transition strategies of European oil and gas firms, the financial ratings agency Fitch has said that among the various candidates, BP and Shell seem to be best positioned to
An introduction to Millers Oils
27/01/2021 by OilStoreAdministrator
A leading lubricant manufacturer with independent status, Millers Oils has been making and blending specialist lubricants since the late 19th century from its
IEA cuts oil demand forecasts due to lockdowns
26/01/2021 by Mark
In its latest report, the International Energy Agency (IEA) has revised down its forecast for
Total leaves API over climate change policy
22/01/2021 by OilStoreAdministrator
French oil major Total has announced it will let its membership of the American Petroleum Institute (API) lapse due to disparities over
US shale producers lock in prices
20/01/2021 by Mark
Shale producers in the US have started selling oil futures to lock in prices above $50 for future delivery, according to
US oil production to fall less than expected
18/01/2021 by Richard
The US Energy Information Administration (EIA) has revised its forecast for average production of crude oil in the US. Instead of dropping by 240,000 barrels per day (bpd), which it previously forecasted, it will drop…
Petrobras sets new record for oil production
14/01/2021 by Mark
Despite the ongoing COVID-19 pandemic, Brazil’s state-owned oil company Petrobras has scaled its crude oil production up to a new record of 2.3 million barrels per day (bpd), putting it on the same level as
Saudi Arabia to cut oil production
10/01/2021 by Richard
The latest meeting of the OPEC+ group ended with a surprise twist – Saudi Arabia will cut its oil production to allow Russia to make modest
Russia clashes with OPEC over oil demand
08/01/2021 by Mark
In the first meeting of the OPEC+ group this year, the participating oil producing countries initially failed to come to an agreement over production levels next month, with Russia and Saudi Arabia, the group’s biggest…
Cambodia begins oil production
06/01/2021 by OilStoreAdministrator
In the run up to the new year, the Prime Minister of Cambodia, Hun Sen, announced that the country had become an