AEC head praises East African pipeline project
14/07/2022 by OilStoreAdministrator
While the project to build the East African Crude Oil Pipeline (EACOP) has been criticised by some groups over environmental concerns, the head of the African Energy Chamber (AEC) has praised the project as helping…
OPEC+ stays course on production increases
13/07/2022 by Richard
At its latest meeting, the OPEC+ group of oil-producing nations agreed to stick with its existing plan for gradual production increases. The group will therefore increase its total production by 648,000 barrels
India pushes for oil and gas exploration
12/07/2022 by Mark
According to the Economic Times, India is seeking to bolster its domestic production of oil and gas by making a concerted effort to explore the Andaman deep-water basin, which lies in the north-western portion of
US considers further release from strategic oil reserves
09/07/2022 by Katie
Amos Hochstein, a Whitehouse special envoy and the coordinator for international energy affairs, has said the United States is considering further releases of crude oil from
UAE and Saudi Arabia close to maximum production capacity
08/07/2022 by Richard
The OPEC+ production deal may be destined to end, as it is becoming clear that the participating countries are reaching their natural limits for
Humber and North East benefit from oil and gas sector
07/07/2022 by Mark
New research from Offshore Energies UK (OEUK) has revealed that the oil and gas industry adds some £1.5 billion to the economy in Yorkshire and the Humber and
US shale producers start to “re-frac” wells
03/07/2022 by Mark
Oil producers in the US shale industry have started returning to existing wells and giving them a second blast at high pressure in order to extract more oil from them, a process that has come…
CNOOC opens intelligent facility for making oil and gas equipment
01/07/2022 by Richard
China National Offshore Oil Corporation (CNOOC), China’s biggest offshore hydrocarbons producer, made a step towards digitalising the manufacture of marine gas and oil extraction equipment by opening its first intelligent factory in Tianjin municipality
BP pays tax again on North Sea production
30/06/2022 by Richard
According to BP’s latest report on payments to governments, BP’s North Sea oil and gas business again became a net payer of tax in 2021, with it paying almost
Everything you wanted to know about Petronas Lubricants
28/06/2022 by Richard
Listed as one of the world’s 10 leading lubrication companies, Petronas Lubricants International (also known as PLI or simply Petronas) has earned a reputation for excellence in both the services and products it delivers. Headquartered…
IEA predicts record oil demand next year
24/06/2022 by Katie
In its initial outlook for 2023, the International Energy Agency (IEA) has predicted that the demand for crude oil will surpass the pre-pandemic level to reach a new record high of 101.6 million barrels per
US rig count rises by seven
24/06/2022 by Richard
New data from oil field service company Baker Hughes reveals that the number of active drilling rigs in the United States rose by seven in