ExxonMobil could double shale output with new technology
09/06/2023 by Mark
Darren Woods, the chief executive of US-based oil major ExxonMobil, has said that over a five-year period, he expects the company to double the production from its shale assets thanks to new technology.
Canadian oil production resumes as wildfires subside
06/06/2023 by Mark
Producers of oil and gas in Canada’s Alberta province have started to bring operations back online after rainfall caused wildfires in the area to abate.
OPEC ready to welcome back Iran
05/06/2023 by OilStoreAdministrator
The secretary general of OPEC, Haitham Al Ghais, has said during a visit to Tehran that his organisation would welcome Iran’s return to the international oil market. While Iran is
Russia inclined to leave production unchanged
02/06/2023 by Richard
Reuters is reporting that the Russian Government is leaning towards leaving oil production at its current level when the OPEC+ group next meets.
Prince Abdulaziz bin Salman warns against speculation
30/05/2023 by Katie
The oil minister of Saudi Arabia, Prince Abdulaziz bin Salman, has warned speculators that they may be “ouching” again if they try to profit from anticipating the OPEC+ group’s production decision at its nex
Chevron acquires PDC Energy
29/05/2023 by OilStoreAdministrator
The second-largest oil producer in the US, Chevron, is to expand its US operations with the purchase of PDC Energy, which produces oil in the Permian Basin of Texas and New Mexico.
Shell complements deep sea exploration with AI technology
24/05/2023 by marc-claude_ghibert
Energy giant Shell has done a deal with SparkCognition, which specialises in big-data analytics, to use its AI-based technology in its exploration and production activities.
Venezuela to reinvigorate oil production
23/05/2023 by Richard
Reuters reports that the new management team at PDVSA, the state-owned oil company of Venezuela, is planning to increase its oil production to 1.17 million barrels per day (bpd) by the end of this year.
TotalEnergies preparing to implement Iraq projects
22/05/2023 by Mark
France-based energy giant TotalEnergies is reportedly engaging with the Basrah Oil Company of Iraq, which is state owned, to agree some key contracts ahead of
Castrol launches Fastscan app for independent workshops
21/05/2023 by marc-claude_ghibert
Leading lubricant brand Castrol has released a new app to reward the owners of independent workshops when they make qualifying purchases of Castrol products.
Iraq signals no more OPEC+ cuts in June
19/05/2023 by OilStoreAdministrator
Hayan Abdel-Ghani, the oil minister of Iraq, has given the first hint about what the OPEC+ group may decide to do when it meets next month to discuss production levels.
US could start refilling oil reserve next month
18/05/2023 by Richard
Speaking at a congressional hearing, Jennifer Granholm, the US Energy Secretary, has said that plans to proceed with refilling the country’s Strategic Petroleum Reserve (SPR) could begin as soon as next month once a sale…