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
Elon Musk says world still needs oil and gas
02/09/2022 by Richard
The founder of electric vehicle (EV) maker Tesla Inc., Elon Musk, has said that he accepts that the world will need to continue using oil and gas for the time being.
OEUK calls for politicians to support North Sea production
30/08/2022 by Richard
Offshore Energies UK (OEUK) has called on the UK Government to ensure that it continues to support the production of energy in the UK North Sea.
Chinese oil and gas production hits record high
25/08/2022 by Richard
Production of natural gas and crude oil in China has hit a new record in the first seven months of this year, according to
Barclays lowers oil price forecasts
22/08/2022 by Richard
Banking giant Barclays has slashed its price forecasts for both Brent and West Texas Intermediate (WTI) crude oil by