Oil prices could drop as low as $20

A major global forecast on the state of the oil market has predicted that oil prices will continue to fall, and that they could even drop to $20 (£13.44) per barrel.

According to a (more…)

Brent prices fall spectacularly

Brent Oil prices have fallen to levels we have not seen since 2004, with both WTI and Brent benchmarks losing a minimum of 35% since the beginning of 2015 alone.

Brent prices for front-month February delivery, dropped by (more…)

Royal Dutch Shell move forward with BG merger despite oil price fears

Royal Dutch Shell, the manufacturer of Shell Omala S2 G 320, is going to London’s High Court in order to get consent to hold a shareholder meeting, so that its planned merger with BG Group can be approved.

The global oil company is plowing (more…)

China clears Shell’s merger with BG

Royal Dutch Shell, the manufacturer of Shell Tellus S2 M 46, has announced that its planned $70bn (£46,200,852,837,605.20) merger with BG Group has been given the final go-ahead by China.

Speaking on Monday, December 14, a spokesperson for (more…)

Scottish economy shrinks due to oil events

The Scottish economy lowered slightly in November, due to the downturn in the oil and grass industry, according to a report by the Bank of Scotland.

The most recently released Bank of (more…)

Shell-BG merger gets green light in Australia

Royal Dutch Shell, the manufacturer of oil-based products like Shell Tellus S2 M 32, has been given final Australian clearance for its $70bn (£46bn) acquisition of BG Group.

The company was waiting for the (more…)

ExxonMobil calls for carbon tax

Executives at global oil company ExxonMobil, the manufacturer of Mobil Delvac Super 1400 15W/40, claimed that without major international coordination on (more…)

Oil prices could stay under $50

Oil prices may remain below $50 (£33.10) due to a glut in supply, as the Organisation of Petroleum Exporting Countries failed to agree to new levels of production at a recent meeting.

The price of global benchmark crude oil fell by 2% to just $42.93 (£28.42) per barrel, following a meeting in Vienna, Austria last week, bringing the cost of oil close to the 6.5-year low that was reached back in August.

US West Texas Intermediate dropped even lower, falling 2.7% to just $39.96 (£26.45) per barrel.

At its biannual meeting, increasing pressure had been placed on the Organisation of Petroleum Exporting Companies to lower the production quotas as key member nations continue to struggle due to low oil prices. Black gold, for example, halved in price from over $100 (£66.23) per barrel in the summer of 2014 to around the $50 (£33.11) region at present, and global oil companies like Fuchs, known for producing leading products like Fuchs WSP 783-L, are likely to be affected.

However, the organisation’s post-meeting announcement did not include any firm production targets, which meant that countries could continue to pump the vast amounts of oil they had been previously, and which are close to record high levels.

Saudi Arabia is currently leading the market, openly stating that it hopes to crush the U.S. shale oil industry by purposely keeping a surplus of supplies on the global market, thus keeping U.S. oil prices low and causing America’s oil business to take a hit.

Iran looks for $30bn of new oil contracts

Iran has changed the manner in which it offers contracts to international energy companies in the hopes of attracting as much as $30bn (£20bn) in new investment.

The terms of the country’s new (more…)

Mobil Pegasus Ultra launched

Global oil company ExxonMobil, known for manufacturing quality lubricants like Mobil Delvac SGO 75W90, has recently launched its latest gas engine oil – Mobil Pegasus Ultra.

Mobil Pegasus Ultra was promoted for the (more…)