IEA predicts record global oil production this year
02/02/2024 by Richard
In its latest Oil Market Report (OMR), the International Energy Agency (IEA) has predicted that the global production of crude oil will reach a new record high of 103.5 million barrels per day (bpd), with…
Air Europa to buy sustainable lubricants from Shell
01/02/2024 by OilStoreAdministrator
Shell Aviation has been chosen as the lubricant supplier for Air Europa, meaning it will supply grease, turbine oil and other fluids for the Boeing 737s and 787s in the airline’s fleet.
TotalEnergies agrees to buy battery storage developer
31/01/2024 by Mark
Energy firm TotalEnergies has confirmed its decision to buy Kyon Energy, a German company that develops projects for energy storage using batteries.
TrAchem Rebrands as Oil Store
31/01/2024 by Daniel Tait
TrAchem Lubricants Rebrands as Oil Store: Simplifying and Strengthening Presence in Lubricants Industry 31st January 2024 TrAchem Lubricants, a renowned supplier of quality lubricants for nearly 30 years, announces its rebranding as Oil Store, effective…
ExxonMobil to investigate Guyana gas resources
30/01/2024 by Richard
Having already established oil production offshore of Guyana, ExxonMobil is now looking to explore opportunities to develop natural gas fields in the Stabroek Block that it operates.
Occidental chief warns of oil shortage
29/01/2024 by OilStoreAdministrator
Speaking on the sidelines in Davos at the World Economic Forum, the chief executive of Occidental Petroleum has warned that oil exploration is failing to keep pace with demand.
BP appoints new chief executive officer
26/01/2024 by Mark
Energy major BP has announced that Murray Auchincloss will be the new CEO (chief executive officer) of the company.
Chevron executive indicates need for energy diversity
25/01/2024 by Richard
Speaking at a yearly energy conference in Singapore, the vice president for carbon capture, utilisation and storage (CCUS) at Chevron New Energies, Chris Powers, has said diversity will be key to meeting the world’s energy…
Shell gives go ahead for Victory gas field
24/01/2024 by OilStoreAdministrator
The UK arm of Shell has stated it has made its final investment decision (FID) in establishing a gas field in the North Sea, about 29 miles offshore of the Shetland Islands.
Analysts predict stable oil prices this year
23/01/2024 by Mark
Based on the fundamentals, industry analysts are predicting that oil prices will remain relatively flat through this year.
UK automotive sees most successful year since 2019
22/01/2024 by Richard
Last year for the automotive sector in the UK was the best for sales since the COVID-19 pandemic, with 1.903 million new car registrations.
TotalEnergies boosts stakes in Namibia blocks
19/01/2024 by OilStoreAdministrator
France-based TotalEnergies has announced that it has agreed to increase its interests in two blocks that it operates in Namibia.