ExxonMobil targets higher earnings and dividends
10/03/2021 by Mark
Before its investor day, US oil major ExxonMobil announced that it expects its focus on profitable, high-return projects to result in its investments generating returns in
Petronas and Total look to low-carbon oil production
08/03/2021 by Richard
Attendees at the IHS Markit virtual conference were told that oil companies Petronas and Total are seeking to continue upstream oil production, but with lower
ExxonMobil to sell some North Sea assets
06/03/2021 by OilStoreAdministrator
US-based oil major ExxonMobil has announced it has agreed to sell the majority of its non-operated upstream North Sea assets to NEO Energy, which is
Cold weather affects US oil production
24/02/2021 by Richard
With Texas facing its coldest weather in three decades, US oil production has been hampered as operators deal with the consequences of the
Shell publishes global warming scenario
22/02/2021 by OilStoreAdministrator
Energy company Shell has published its ambitious pathway for the world to restrict global warming to 1.5°C, which concurs with the Paris Agreement’s goal of keeping global warming
OPEC+ oil production cuts likely to stay for now
20/02/2021 by Mark
Speaking at a press conference, Ihsan Abdul-Jabbar, Iraq’s oil minister, hinted that when the OPEC+ group meets next month, it will probably agree to maintain the current levels of production throughout April this year. He…
Total predicts supply crunch in 2025
18/02/2021 by Richard
French-based oil major Total has said that the world may experience a shortfall of about 10 million barrels per day (bpd) in the supply of crude oil due to underinvestment in oil exploration and production,…
Shell says it hit peak oil production in 2019
16/02/2021 by OilStoreAdministrator
Anglo-Dutch oil major Shell has announced that it hit its peak production in 2019, and it only expects it to decline slightly each year as the company increasingly diversifies into
Denmark to build artificial island for wind energy
12/02/2021 by Richard
The Danish parliament has voted to allow the government to take a 51% stake in a new project to generate up to 12 gigawatts of electricity through two new hubs for
US shale to bounce back by 2023
10/02/2021 by OilStoreAdministrator
The US shale oil sector may be down, but it’s not out, according to the US Energy Information Administration (EIA). In its latest annual energy outlook, it says it expects US oil production to exceed…
ExxonMobil creates new business for low-carbon technology
08/02/2021 by Mark
US oil major ExxonMobil, the maker of the Mobil lubricant range, has established a new spin-off business, ExxonMobil Low Carbon Solutions, in order to commercialise its
World's first carbon-neutral crude delivered by Occidental
06/02/2021 by Richard
The US oil major Occidental says it has delivered its first shipment of carbon-neutral crude oil, marking a world first. India’s Reliance Industries took delivery of two million barrels of crude oil from