Shell increases dividend and announces profits
02/11/2020 by Richard
Anglo-Dutch supermajor Royal Dutch Shell has posted its third-quarter results. While profits are down 80% year on year, the figures exceeded many analysts’ expectations. The company also announced a
COVID-19 prompts digital technology use on offshore oilrigs
30/10/2020 by Mark
A pandemic was always going to be a particular challenge for the cramped working and living conditions of the North Sea’s offshore rigs, but operators are reporting an accelerated shift towards
Russia signals OPEC+ deal may be extended
28/10/2020 by OilStoreAdministrator
Russian president Vladimir Putin has given the first indication that his country, which is one of the world’s biggest oil producers, may be amenable to extending the production cuts agreed by
Lukoil seeking to boost Iraq oil production
26/10/2020 by Richard
The second largest oil company in Russia, Lukoil, is looking at boosting oil production from its assets in Iraq once the quotas agreed by
US shale oil production to dip next month
24/10/2020 by Mark
According to productivity data from the US Energy Information Administration (EIA), production from the country’s largest shale formations will likely decline moderately next month, indicating that there is
Oil CEO forecasts "moderate" production restoration
20/10/2020 by Mark
According to the CEO of Occidental Petroleum Corp, US oil production is unlikely to return to the record levels seen before the COVID-19 pandemic, but production will
OPEC+ cuts will still taper out from next year
18/10/2020 by Richard
According to Suhail al-Mazrouei, the energy minister for the United Arab Emirates, the OPEC+ group will continue with its plan to begin tapering its collective production cuts by 1.9 million barrels per day (bpd) to…
Investors seeing Shell and BP shares as bargains
16/10/2020 by OilStoreAdministrator
With BP and Shell’s share prices at their lowest for 25 years, investors are seeing them as
Oil demand to grow in next decade and beyond
14/10/2020 by Mark
The days of oil are not quite over yet according to OPEC, which predicts that the demand for oil will continue to increase until
Fuchs UK reports strong results
12/10/2020 by OilStoreAdministrator
The UK arm of lubricant giant Fuchs, which is based in Stoke-on-Trent, has reported increased revenue and
Egypt announces record oil production
10/10/2020 by Richard
While much of the news lately has been largely dominated by the pandemic and oil production cuts to stabilize the markets, Egypt quietly announced that it has achieved its highest level of oil production since
Shell bets on hydrogen for shipping industry
08/10/2020 by Mark
Oil company Shell has published a decarbonisation report that examines potential fuels for the future, with it coming down firmly in favour of