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
Libya set to further increase oil production
04/02/2021 by Mark
Libya is looking to build upon its recent ramping up of oil production. The country’s National Oil Corporation (NOC) has announced its intention to average
BP and Shell join effort to rescue stranded seafarers
02/02/2021 by OilStoreAdministrator
Oil giants Shell and BP, the maker of Castrol industrial lubricants, have joined with over 300 other global companies and organisations to tackle a humanitarian crisis caused by
Report says BP and Shell well-placed for energy transition
28/01/2021 by Richard
In a report on the transition strategies of European oil and gas firms, the financial ratings agency Fitch has said that among the various candidates, BP and Shell seem to be best positioned to
An introduction to Millers Oils
27/01/2021 by OilStoreAdministrator
A leading lubricant manufacturer with independent status, Millers Oils has been making and blending specialist lubricants since the late 19th century from its
IEA cuts oil demand forecasts due to lockdowns
26/01/2021 by Mark
In its latest report, the International Energy Agency (IEA) has revised down its forecast for
Total leaves API over climate change policy
22/01/2021 by OilStoreAdministrator
French oil major Total has announced it will let its membership of the American Petroleum Institute (API) lapse due to disparities over