Occidental chief warns of oil shortage
29/01/2024 by OilStoreAdministrator
Speaking on the sidelines in Davos at the World Economic Forum, the chief executive of Occidental Petroleum has warned that oil exploration is failing to keep pace with demand.
BP appoints new chief executive officer
26/01/2024 by Mark
Energy major BP has announced that Murray Auchincloss will be the new CEO (chief executive officer) of the company.
Shell gives go ahead for Victory gas field
24/01/2024 by OilStoreAdministrator
The UK arm of Shell has stated it has made its final investment decision (FID) in establishing a gas field in the North Sea, about 29 miles offshore of the Shetland Islands.
Analysts predict stable oil prices this year
23/01/2024 by Mark
Based on the fundamentals, industry analysts are predicting that oil prices will remain relatively flat through this year.
TotalEnergies boosts stakes in Namibia blocks
19/01/2024 by OilStoreAdministrator
France-based TotalEnergies has announced that it has agreed to increase its interests in two blocks that it operates in Namibia.
Castrol celebrates its 125th birthday in business
17/01/2024 by Richard
Leading lubricant brand Castrol is entering its 125th year in business, and it will be marking the event through a three-pronged
US to see record oil and gas production
16/01/2024 by OilStoreAdministrator
Oil and gas production in the United States will reach unprecedented levels this year and next, according to the
BP passes billion barrel threshold at Caspian platform
15/01/2024 by Mark
UK-based energy major BP has announced that its West Azeri platform in the Caspian Sea has now produced more than a billion barrels of oil.
ExxonMobil reports $2.5 billion impairment due to California assets
12/01/2024 by Richard
US oil major ExxonMobil has warned that it may be necessary to write down the California assets of the company by around $2.5 billion, after it
TotalEnergies to start production in Brazil
11/01/2024 by OilStoreAdministrator
France-based TotalEnergies has announced that in the Libra block, which is some 110 miles offshore of Rio de Janeiro, production has begun at the Mero-2 development.
Angola OPEC exit due to tighter cap
10/01/2024 by Mark
According to Angola’s top official for oil, the country announced its exit from OPEC in December was due to its inability to accept an output limit that would prevent it from stabilising its oil production…
TotalEnergies commissions an evaluation of land acquisition
09/01/2024 by Richard
TotalEnergies’ CEO and Chairman, Patrick Pouyanné, has recruited a renowned expert in economic development in Africa, Lionel Zinsou, to lead a mission that will