Kuwait aiming for 3.2 million bpd in oil production
14/07/2023 by OilStoreAdministrator
According to Kuwait’s Minister of Oil, the country is aiming to increase its crude oil production to 3.2 million barrels per day (bpd) by next year’s end.
Production costs for US shale start to fall
13/07/2023 by Mark
For the first time in three years, production costs in the US shale region have fallen, indicating that US operators may be able to stabilise their earnings.
Shell boss warns against cutting oil and gas production
12/07/2023 by Richard
Wael Sawan, the boss of energy major Shell, has hit out at critics of his company’s decision to maintain the current level of oil and gas production.
Saudi Arabia extends production cuts as Russia cuts exports
11/07/2023 by OilStoreAdministrator
Russia and Saudi Arabia have both announced further voluntary measures that they say will help rebalance the oil markets. Saudi Arabia has said it will extend its cut of a million barrels per day (bpd)…
US shale executive predicts rising oil prices
04/07/2023 by Richard
A shortage in the supply of oil has been predicted in the coming months. Lloyd Helms, the chief operating officer at US shale firm EOG Resources, has said that slow
TotalEnergies to use green hydrogen in refining process
03/07/2023 by Mark
France-based oil and gas major TotalEnergies has said that it will partner with VNG, a German distributor of gas, to incorporate green hydrogen into activities at its refinery in Leuna, Germany in order to reduce…
ExxonMobil negotiating return Guyanese exploration areas
27/06/2023 by Mark
Reuters reports that Guyana is in talks with ExxonMobil about returning some of the oil major’s unexplored areas.
US on track for record oil production
26/06/2023 by OilStoreAdministrator
Crude oil production in the United States has reached 12.4 million barrels per day (bpd). This is according to the
IEA says global oil demand to peak this decade
23/06/2023 by Richard
In its latest medium-term report, the International Energy Agency has predicted that the growth in the global demand for crude oil will slow in the coming years, with demand potentially peaking in 2028.
Shell commits to continued oil and gas production
20/06/2023 by Mark
UK-based energy giant Shell has said that it will extend its presence in the upstream sector and grow its gas business.
Shell boss sees long future for natural gas
19/06/2023 by Richard
Wael Sawan, Shell’s chief executive officer, is reportedly making changes to the energy giant’s strategy, with natural gas being seen as having a long future in the global energy mix.
Castrol promotes new brand identity at Automechanika 2023
18/06/2023 by Mark
Prominent lubricant brand Castrol has taken advantage of its presence at Automechanika 2023, which was held at the NEC in Birmingham, to promote a fresh upcoming brand identity for its UK Castrol SERVICE network.