Saudi Aramco to invest in increased oil production
28/03/2022 by Mark
The world’s top oil-producing company, Saudi Aramco, has said it will increase its spending on oil production this year to meet the world’s growing demand for crude oil.
IEA proposes 10-point plan to cut oil use
26/03/2022 by OilStoreAdministrator
With Russia’s invasion of Ukraine potentially leading to a global shortage of crude oil, the IEA has proposed at 10-point plan of practical measures
Shell resubmits plan for North Sea gasfield
24/03/2022 by Richard
The biggest oil and gas firm in Europe, Shell has announced that it has submitted to the Oil and Gas Authority a revised environmental plan for developing the Jackdaw gasfield, which lies offshore of Aberdeen.
Energy players gather at CERAWeek
18/03/2022 by Richard
Policymakers, executives and other players recently gathered at this year’s CERAWeek in Houston, which is part of the S&P Global energy conference, to discuss the
UEA indicates willingness to increase oil production
16/03/2022 by OilStoreAdministrator
The United Arab Emirates’ (UAE) Ambassador to the United States has indicated in a statement to the Financial Times that his country is willing to increase production
US oil sector readies oil production increases
14/03/2022 by Mark
Executives at some of the world’s top producers of hydrocarbons have pledged to increase their crude oil production, although they warned that this could not be
IEA nations agree to release strategic oil reserves
10/03/2022 by OilStoreAdministrator
The 31 member states of the International Energy Agency (IEA) have agreed to jointly release some 60 million barrels of their strategic oil reserves in order to strongly indicate to the oil markets that there…
TotalEnergies joins Methanol Institute
09/03/2022 by marcelino
The Methanol Institute, a global trade association for the production of methanol, has added the marine fuels business unit of TotalEnergies to its list
Iran ready to return to full oil production
08/03/2022 by Mark
Should negotiations in Vienna be successful and result in the lifting of US sanctions, Iran says it can return to its full oil production capacity within
OPEC+ agrees to continue output increases
06/03/2022 by OilStoreAdministrator
At its latest meeting, the OPEC+ group of countries has agreed to continue with its planned relaxation of production cuts by allowing an extra 400,000 barrels per day to come to market in April. While…
Higher prices spur on US oil drilling
04/03/2022 by Richard
Despite many US operators focusing more on shareholder returns than growing output, the number of oil-drilling rigs has risen by 348 from a cyclical low according to data from Baker Hughes, which provides oilfield services.…
US indicates release of global oil reserves
02/03/2022 by OilStoreAdministrator
Speaking to reporters recently, the United States’ President, Joe Biden, said that the country was working with other countries to coordinate releases of