World first innovation announced by Chevron
10/09/2024 by Mark
US-based oil major Chevron has announced that a hydrogen-powered ferry it has supported has begun carrying commercial passengers across San Francisco Bay in California.
Guyana sees jump in GDP thanks to oil production
09/09/2024 by OilStoreAdministrator
The small South American country of Guyana has reported that its real gross domestic product (GDP) increased by 49.7% for the first half of this year, thanks to increased oil and gas revenues.
Oil prices drop as OPEC+ mulls production increases
06/09/2024 by Richard
The price of crude oil dropped slightly following reports that the OPEC+ group is likely to go ahead with unwinding some of the production cuts it has made to stabilise the market.
Chevron says captured carbon could create renewable fuel
05/09/2024 by Mark
US-based oil major Chevron has detailed how it is researching ways to convert captured carbon into renewable fuels.
ExxonMobil warns of energy supply shortage
04/09/2024 by OilStoreAdministrator
In the latest edition of its Global Outlook, US-based oil major ExxonMobil has joined OPEC in warning about potential shortages of oil and gas if investments are not made to develop new oil and gas…
ExxonMobil to sell conventional Permian assets
03/09/2024 by Richard
Bloomberg reports that ExxonMobil is looking at divesting about a billion dollars in conventional oil and gas assets located in the Permian Basin of West Texas and New Mexico.
ExxonMobil says Guyana production back on track
02/09/2024 by Mark
US-based oil major has announced that the consortium that it leads has returned oil production in Guyana back to full capacity following pipeline work.
A guide to hydraulic oils
30/08/2024 by OilStoreAdministrator
To keep different types of mechanical equipment operating on top form, a wide range of greases, oils and fluids are deployed. While some of these lubricants are designed for general purposes, others are specifically designed…
BNEF predicts sharper rise in US oil production
30/08/2024 by OilStoreAdministrator
The growth in crude oil production in the US is set to accelerate next year, thanks to improvements in well efficiency.
Chief BP economist states OPEC+ has limited options
29/08/2024 by Richard
The OPEC+ group has very little scope to wind back its production cuts according to Spencer Dale, the chief economist at energy giant BP, which also makes the Castrol metalworking range.
Chevron uses mini ROVs to clean subsea structures
28/08/2024 by Mark
US-based oil major Chevron has announced that it has successfully tested using mini remotely operated vehicles (ROVs) to clean marine growth from the subsea structures of its offshore assets.
Weak economic data from China triggers fall in oil prices
27/08/2024 by OilStoreAdministrator
Oil prices have fallen following the release of a series of economic reports, indicating that China’s demand for crude oil may be slowing.