World’s demand for crude oil dropped in July
24/09/2022 by greg
Fresh data from the Joint Organizations Data Initiative (JODI) has revealed that the global demand for crude oil dropped by 1.1 million barrels per day in July, a month that normally sees
UAE to speed up oil production boost
23/09/2022 by Richard
The United Arab Emirates is planning to maximise its revenue from crude oil by increasing its production capacity at a faster rate than was previously announced, according to Bloomberg sources acquainted with the matter.
Oil exports from Basra terminal return to normal
22/09/2022 by OilStoreAdministrator
The Basra Oil Company (BOC) of Iraq has announced that loading and export activity at the Basra oil terminal has returned to normal rates after an oil spill caused it to scale back operations.
South Sudan to prioritise growing oil production
21/09/2022 by Mark
Riek Machar, the First Vice President of South Sudan, has said that his country will proceed with its goal of increasing crude oil production to 230,000 bpd within two years, even if it means leaving…
Global oil production rose by 790,000 bpd in August
20/09/2022 by Richard
According to the latest Oil Market Report from the International Energy Agency (IEA), the world’s production of crude oil rose by 790,000 barrels per day (bpd) in August, driven by increased production in Libya, Saudi…
Shell announces successor to van Beurden
19/09/2022 by OilStoreAdministrator
The UK-based energy giant Shell has confirmed recently reported rumours that longstanding CEO Ben van Beurden is to step down, and his successor has also been announced.
Permian Basin oil production to set new record
18/09/2022 by Katie
In its latest Drilling Productivity Report, the Energy Information Administration (EIA) has predicted that crude oil production in the prolific Permian Basin will
Shell and Exxon to sell NAM
12/09/2022 by Richard
According to industry sources, the NAM joint venture between ExxonMobil and Shell is being put up for sale, with it possibly raising around a billion dollars for the two oil majors.
ExxonMobil to promote sustainable solutions at K2022
09/09/2022 by Katie
At K2022 in Düsseldorf, which claims to be the world’s top trade fair for plastics and rubber, energy major ExxonMobil will highlight the benefits of its sustainable solutions.
Guyana to make $1.1 billion in oil revenue
08/09/2022 by Mark
According to the mid-term report from Guyana’s Ministry of Finance, the South American country is set to receive $1.1 billion in oil revenues this year.
US oil production at two-year high
07/09/2022 by Richard
According to monthly data from the US Energy Information Administration (EIA), total crude oil production in the US rose in June to 11.8 million barrels per day (bpd), which is the highest level since April…
Shell CEO to step down
06/09/2022 by Mark
According to a report from Reuters, Ben van Beurden, CEO of energy major Shell, will be stepping down soon after almost 10 years