BP CEO sees demand for oil growing
14/06/2021 by OilStoreAdministrator
Bernard Looney, the Chief Executive of BP, has said that he expects a strong and long-lasting recovery in the demand for crude oil, combined with continued restraint from
Shell chair chosen to lead innovation agency
12/06/2021 by Mark
Sir Andrew Mackenzie, who is currently the company chair of Shell, has been selected as the favoured candidate to lead the UK Research and Innovation (UKRI) agency. If his appointment is confirmed by the House…
How did Morris Lubricants mark 150 years of excellence?
09/06/2021 by OilStoreAdministrator
Morris Lubricants has an esteemed heritage. From its humble origins in the 19th century, it has risen to become one of the biggest lubrication
OPEC+ holds steady on oil production
08/06/2021 by Mark
Oil prices received a boost following June’s meeting of the OPEC+ group, after it announced that it was not going to revise its planned increase of 840,000 barrels per
BP to enhance North Sea oil production
06/06/2021 by OilStoreAdministrator
Oil major BP is to partner with Norwegian company Oldfjell Drilling and Baker Hughes to improve its production at the biggest oil field in the
Suncor to cut emissions by a third
02/06/2021 by Mark
Suncor, one of Canada’s biggest oil producers, has said it plans to cut its emissions by a third by the end of the decade, while also increasing its oil production to a record 800,000 barrels…
Novak estimates oil production shortfall
30/05/2021 by Mark
Alexander Novak, Russia’s Energy Minister and Deputy Prime Minister, has stated he sees a one million barrel per day (bpd) gap between
Shareholders back Shell's net-zero strategy
28/05/2021 by OilStoreAdministrator
The shareholders of Royal Dutch Shell have passed the company management’s plan to navigate the energy transition. Just under 89% of shareholders voted to approve the plan, although the
Mobil launches NASCAR sweepstake
24/05/2021 by OilStoreAdministrator
Lubricant maker Mobil has given NASCAR fans an additional reason to cheer by offering them the chance of a prize every time a driver wins when using its Mobil 1 synthetic passenger
Brent prices return to pre-pandemic levels
22/05/2021 by Mark
Growing optimism about vaccination programmes and economies reopening has fed into the markets and took Brent crude oil prices above $70 per barrel. Aside from a brief period in March, this is the first time…
ExxonMobil targets greater Guyana production
20/05/2021 by Richard
Oil major ExxonMobil has increased the targeted production of its offshore Guyana projects to 800,000 barrels per day (bpd) by 2025 and a million bpd by 2027. It had previously expected to be producing
Dutch government awards €2 billion for CCS project
16/05/2021 by Mark
A consortium of oil majors has secured subsidies totalling €2 billion from the Dutch government to implement a carbon capture and storage (CCS) project in the