Global oil demand hits seasonal highs

Global oil demand hit a seasonal high in December, marking the eighth monthly record of 2023, according to new data

Shell, Equinor and bp secure key stake in UK’s mega oil and gas licensing round

Twenty four licences have been offered to seventeen companies, including industry leaders

Shell to convert German site for premium lubricant production

Shell Deutschland GmbH has announced a final investment decision to repurpose the Wesseling site at the Energy and Chemicals Park Rheinland into a Group III base oil production unit

Global oil supply set to reach record high in 2024

The IEA’s oil outlook projects a record-high global supply of 103.5 million barrels per day, driven by increased production from the US, Brazil, Guyana and Canada

Solar power leads US electricity growth

Solar power is poised to drive significant growth in US electricity generation, with 36GW and 43GW of new solar capacity expected in 2024 and 2025, according to a report

“New North Sea fuel: Less than 1% in UK petrol tanks”

New drilling licences in UK waters would have a minimal impact, contributing less than 1% to each fuel type used in the UK by 2030, according to new analysis

Rosebank oil to be sold abroad

The UK government has acknowledged that oil extracted from the Rosebank field, previously touted for domestic energy security, will be sold on the international market

‘OPEC+ considers extension of oil cuts’

Saudi Arabia is reportedly leaning toward extending its one million barrel per day oil production cut into the next year in response to declining oil prices

Energy Secretary: North Sea decline jeopardises UK’s energy independence

Claire Coutinho has warned that if the UK doesn’t start new drilling projects, declining North Sea oil production could make the country rely on foreign energy sources

Former UK Prime Minister: Oil titans should face global climate tax

Gordon Brown has proposed a $25 billion global windfall tax to support climate initiatives in poorer countries