TotalEnergies and ExxonMobil among bidders for Guyana blocks
01/11/2023 by OilStoreAdministrator
Reuters reports that oil majors TotalEnergies and ExxonMobil are among the consortia that have placed bids in the inaugural competitive auction for shallow-water exploration blocks offshore of Guyana.
Chevron to buy Hess
30/10/2023 by Mark
US-based oil major Chevron has announced that it has come to a definitive agreement to acquire Hess Corporation in its entirety for
Oil to become biggest US export
27/10/2023 by OilStoreAdministrator
Crude oil is set to become the United States’ largest single export product for the first time in the country’s history, as it secures its place as the world’s biggest oil producer.
Crude prices and well productivity to drive US gas production
24/10/2023 by OilStoreAdministrator
The combination of relatively high prices for crude oil and improved well productivity in the Permian Basin is to drive further growth of the natural gas produced in the US.
Venezuela could boost crude oil production
24/10/2023 by greg
Following an easing of sanctions by the US against Venezuela, a number of analysts polled by Bloomberg have come to the conclusion that the country could increase its production of crude oil by 25%, potentially…
Saudi Aramco has 3 million bpd in spare capacity
23/10/2023 by Richard
Amin Nasser, the CEO of state-owned oil giant Saudi Aramco, has said that the company has spare production capacity of 3 million barrels per day (bpd).
US oil production hits new weekly record
20/10/2023 by Mark
The US Department of Energy has announced that the weekly production of crude oil in the US hit a new record of 13.2 million barrels per day (bpd) in the first week of October.
BP confirms climate and financial targets
19/10/2023 by OilStoreAdministrator
At an investors’ day hosted in Denver, Murray Auchincloss, temporary Chief Executive Officer of BP, stated that the company’s carbon-reduction and financial goals remain a priority for the company.
Kuwait to increase oil production and proceed with Durra field
15/10/2023 by greg
The oil minister of Kuwait has announced the country’s new strategy for increasing its production of fossil fuels.
OPEC hikes long-term prediction for demand
13/10/2023 by Richard
In its recently published 2023 World Oil Outlook, OPEC has raised its prediction for the global demand for oil in 2045 from 110 million bpd (barrels per day) to 116 million bpd.
TotalEnergies sells stake in Surmont to ConocoPhillips
12/10/2023 by Mark
France-based TotalEnergies has completed the sale of its 50% stake in the oil sands projevy in Surmont, together with
ExxonMobil to consider buying US shale rival
11/10/2023 by OilStoreAdministrator
Reuters report sources familiar with the matter as saying that US-based ExxonMobil is in talks to buy Pioneer Natural Resources in a deal worth $60 billion.