UK Oil and Gas commits to halving emissions
26/06/2020 by Richard
Trade association UK Oil & Gas (OGUK), which represents the UK’s offshore oil and gas industry, has committed to halving emissions from North Sea facilities by 2030. The target will act as a milestone for…
Shell and IBM set up online marketplace for mining services
24/06/2020 by OilStoreAdministrator
US-based technology giant IBM and the Anglo-Dutch energy and lubricant company Shell have jointly launched Oren, a new online marketplace to connect mining companies with other companies
Global oil production down in May
22/06/2020 by Mark
Oil production decreased substantially in May, with total liquids production averaging just 89.89 million barrels per day
Shell to overhaul business operations
16/06/2020 by Richard
Oil major Shell is set to undertake a widespread review of its business operations with the aim of “adapting to a different future.” Shell has already set itself the target of becoming a net-zero-carbon business…
Total joins marine decarbonisation coalition
14/06/2020 by Mark
Energy player Total has added its support for decarbonisation in the maritime sector by joining the Getting to Zero Coalition, which has members from the finance, energy, maritime, and
Drilling CEO floats prospect of $70 oil price by autumn
12/06/2020 by OilStoreAdministrator
Canary Drilling Service’s CEO, Dan Eberhart, has put forward the possibility that oil prices could hit the $70 per barrel price by the autumn, citing the possibility that US producers have maybe gone too
Worst has passed, says Credit Suisse
06/06/2020 by Richard
According to Swiss bank Credit Suisse, the worst is over for the oil industry. Bill Featherstone, an oil
BP employees participate in mask-making campaign
04/06/2020 by OilStoreAdministrator
Employees of oil major BP and its lubricant division Castrol Africa have initiated a campaign to encourage the people of Africa to make and wear facemasks to slow down the spread of the coronavirus. Other…
Shell airlifts workers from Gulf of Mexico
02/06/2020 by Richard
Oil major Shell has airlifted nine workers from one of its rigs in the Gulf of Mexico following a coronavirus outbreak. After being taken to an
Morgan Stanley expects Brent to reach $40 by 2021
30/05/2020 by Mark
Investment bank and financial services company Morgan Stanley has given a positive signal to the oil industry by upgrading its end-of-year forecast for Brent crude to $40 per barrel. It also raised its third-quarter
Shell offers voluntary severance
26/05/2020 by OilStoreAdministrator
Bloomberg reports that Royal Dutch Shell is set to take a series of measures to strengthen its resilience during the COVID-19 crisis, including offering voluntary severances to staff. The company has
Low prices may make some North Sea oil uneconomical, research warns
24/05/2020 by Richard
A new study from the University of Aberdeen has indicated that if low oil prices persist, as much as a third of the remaining recoverable reserves of gas and oil in the North Sea may…