TotalEnergies to sell its oil sands operations in Canada
05/05/2023 by OilStoreAdministrator
France-based energy major TotalEnergies has announced it has accepted an offer from Suncor Energy to purchase its Canadian oil sands operations.
OPEC boss responds to IEA’s criticisms
04/05/2023 by Mark
The Secretary-General of OPEC, Haitham Al-Ghais, has accused the International Energy Agency (IEA) of “finger-pointing” and defended the OPEC+ group’s recent production cuts, saying
Novak hints at no more OPEC+ production cuts
03/05/2023 by Richard
The OPEC+ group should have no further need to cut crude oil production, according to Alexander Novak. The Deputy Prime Minister of Russia made
ExxonMobil pulls out of Colombia block
28/04/2023 by Katie
According to Rigzone, a spokesperson from ExxonMobil has confirmed that the firm will be withdrawing from Block VMM37 in Colombia.
Guyana declines discounted oil sales to India
27/04/2023 by OilStoreAdministrator
Bharrat Jagdeo, the Vice President of Guyana, has said that his country has refused to sell crude oil to India at a discount, insisting that any sale needs to be at a commercial rate.
US could start refilling oil reserve in early autumn
26/04/2023 by Mark
The US Government could begin refilling the Strategic Petroleum Reserve (SPR) early in autumn this year. This is according to the US President’s coordinator for energy security and global infrastructure, Amos Hochstein.
Demand concerns trigger falling oil prices
25/04/2023 by Richard
Worries about lower demand from Western countries this year caused oil prices to drift lower, reversing some of the gains seen after the OPEC+ group announced a substantial production cut.
Shell brings Pierce field back online
21/04/2023 by Mark
UK-based energy giant Shell has announced that production has restarted at the Pierce field in the UK waters of the North Sea after substantial modifications to the production vessel.
Guyana extends deadline for licensing round
20/04/2023 by Richard
The Government of Guyana, which has recently become a hotspot for oil discoveries, has announced a three-month extension to the deadline for bids in the country’s first-ever round for offshore licenses.
BP’s Argos platform begins production
19/04/2023 by Mark
UK-based energy giant BP has announced that its Argos platform in the Gulf of Mexico has successfully begun producing crude oil.
Non-OPEC countries to drive oil production growth
19/04/2023 by OilStoreAdministrator
In its latest Short Term Energy Outlook, the US Energy Information Administration (EIA) has pointed to greater growth in crude oil production from non-OPEC countries this year.
EIA still expects crude oil surplus
17/04/2023 by Richard
Despite the recent surprise cut in production from the OPEC+ group of countries, the US Energy Information Administration (EIA) has said