Novak estimates oil production shortfall
30/05/2021 by Mark
Alexander Novak, Russia’s Energy Minister and Deputy Prime Minister, has stated he sees a one million barrel per day (bpd) gap between
Shareholders back Shell's net-zero strategy
28/05/2021 by OilStoreAdministrator
The shareholders of Royal Dutch Shell have passed the company management’s plan to navigate the energy transition. Just under 89% of shareholders voted to approve the plan, although the
Mobil launches NASCAR sweepstake
24/05/2021 by OilStoreAdministrator
Lubricant maker Mobil has given NASCAR fans an additional reason to cheer by offering them the chance of a prize every time a driver wins when using its Mobil 1 synthetic passenger
Brent prices return to pre-pandemic levels
22/05/2021 by Mark
Growing optimism about vaccination programmes and economies reopening has fed into the markets and took Brent crude oil prices above $70 per barrel. Aside from a brief period in March, this is the first time…
ExxonMobil targets greater Guyana production
20/05/2021 by Richard
Oil major ExxonMobil has increased the targeted production of its offshore Guyana projects to 800,000 barrels per day (bpd) by 2025 and a million bpd by 2027. It had previously expected to be producing
Dutch government awards €2 billion for CCS project
16/05/2021 by Mark
A consortium of oil majors has secured subsidies totalling €2 billion from the Dutch government to implement a carbon capture and storage (CCS) project in the
Shell expects to reach 50% clean energy next decade
14/05/2021 by Richard
Speaking on HBO in an interview with AXIOS, Shell CEO Ben van Beurden predicted that at some point in the 2030s, clean energy will represent about half of
Exxon Mobil back in profit
08/05/2021 by Richard
Exxon Mobil has announced estimated earnings from its first quarter of $2.7 billion, indicating that it is back in the black after a hard year for the industry, which saw it lose $610 million. Production…
ExxonMobil announces new Guyana discovery
04/05/2021 by Mark
ExxonMobil has discovered oil off the coast of Guyana at the Stabroek Block’s Uaru-2 well. The new discovery adds to the estimated nine billion barrels of oil equivalent that have previously been announced. The new…
Rystad predicts peak oil in 2026
02/05/2021 by Richard
Research company Rystad Energy has brought forward its prediction for peak oil demand by another two years, to 2026, when it will reach 101.6 million barrels per day – about 1% more than it was…
BP and Shell back in profit
30/04/2021 by OilStoreAdministrator
There are indications that the oil industry’s recent dark period may have ended, as oil majors BP and Shell have slid back into profit for the first time since
Carbon capture plan proposed by Exxon Mobil
26/04/2021 by Richard
US oil major Exxon Mobil has put forward a $100 billion plan to capture carbon emissions from large industrial facilities in the Houston area and transport them to the Gulf of Mexico for storage up