Morris Lubricants supports Talyllyn Railway
24/09/2020 by OilStoreAdministrator
Shrewsbury-based Morris Lubricants has helped keep the world’s first preserved railway up and running by providing some much-needed support.
OPEC downgrades demand forecast
20/09/2020 by Mark
In its September report on the oil markets, OPEC has again revised down its forecasts for oil demand this year. It now believes the world will consume 90.2 million barrels per day (bpd) on average…
New BP chief forecasts lower oil production
18/09/2020 by OilStoreAdministrator
The recently appointed CEO of BP, Bernard Looney, is set to lay out his vision of the company’s future – one that will involve the oil major
Novak says Russia must win back market share
14/09/2020 by OilStoreAdministrator
The Russian energy minister, Alexander Novak, has highlighted the importance of Russia, as well as other major oil producers, regaining and even increasing its share of the oil market once demand returns to normal levels.
Energy giants launch technology initiative in Singapore
10/09/2020 by Richard
Global energy companies ConocoPhillips, Shell, ExxonMobil, and Chevron, some of which make lubricant products under brands like Texaco and Mobil, have partnered with Enterprise Singapore in calling for startups to come up with solutions to…
Russia to request OPEC+ reaction to rising oil demand
08/09/2020 by Mark
Reuters reports Alexander Novak, the Russian energy minister, as saying that the recovery in the demand for oil may have reached 90% of levels before the pandemic, with him expecting a full recovery some time…
Total CEO predicts peak oil by 2040
06/09/2020 by Richard
Speaking at the ONS Digital Conference in a video presentation, Patrick Pouyanne, the CEO of Total SA, said he now expects oil production to peak between 2030 and 2040, although he added that oil will…
Producers in Gulf of Mexico avoid major damage
04/09/2020 by OilStoreAdministrator
US offshore oil producers and refiners on the Gulf Coast have begun to restart operations following limited damage from
New CEO for Aramco investment arm
02/09/2020 by Mark
Saudi Arabia’s state-owned oil company, Saudi Aramco, has appointed a new CEO for its half-a-billion-dollar investment and venture capital spinoff Saudi Aramco
US Gulf producers cut operations ahead of storms
28/08/2020 by OilStoreAdministrator
US oil companies in the Gulf of Mexico cut production this month as a rare, back-to-back pair of tropical storms was due to hit the region. Figures from the Bureau of Safety and Environmental Enforcement…
Russia becomes world’s number two oil producer
26/08/2020 by Mark
Russia has surpassed Saudi Arabia to become the world’s second largest oil
OPEC+ leaders advocate continuing production cuts
24/08/2020 by Richard
Bloomberg has reported that Russian Energy Minister Alexander Novak and his Saudi equivalent Prince Abdulaziz bin Salman spoke in a recent video conferencing meeting about maintaining the current production cuts. While they both welcomed a…