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…
EIA anticipates record drop in US shale oil output
22/05/2020 by Mark
The US Energy Information Administration (EIA) has reported that it expects oil production in the seven major shale oil basins to drop from 8.019 million barrels per day (bpd) this month to 7.822 million bpd…
BP reaffirms commitment to net-zero emissions
20/05/2020 by OilStoreAdministrator
Bernard Looney, the CEO of BP since February, has emphasised that he expects to proceed with the company’s plan for net-zero emissions despite the challenges the COVID-19 crisis has posed, with BP even reporting a…
Valvoline launches campaign to thank truckers
18/05/2020 by Richard
Valvoline, the maker of leading lubricants like commercial vehicle oil, has launched a new social media campaign to allow people in
US energy secretary predicts secure future for oil
16/05/2020 by Mark
Dan Brouillette, who has been Donald Trump’s energy secretary since December last year, has expressed confidence that the oil sector will soon bounce back from the recent extensive losses. The ongoing coronavirus pandemic
US oil production cuts exceeding expectations
14/05/2020 by Mark
Despite the lack of any formal agreement, analysis from Reuters suggests that US oil producers will cut output by
Downstream 2020 to go online
12/05/2020 by OilStoreAdministrator
With the ongoing pandemic ruling out traditional expos and conferences, Reuters Events has decided to organise Downstream 2020 as
Shell and BP stocks rally on increasing crude prices
10/05/2020 by OilStoreAdministrator
With a gradual easing in lockdown restrictions around the world, the stock prices of Shell and BP increased last Tuesday, May 5 as
Oil majors see signs of recovery in China
08/05/2020 by Richard
Some the big oil companies are beginning to notice a fledgling recovery in China as demand increases for oil and refined products. Strict