Cost of oil reaches yearlong high

In late April, oil prices reached a 2016 high, with Brent crude rising $1.03 (£0.70) to a high of $46.77 (£32.02) per barrel, whilst (more…)

Saudi Arabia agrees to manoeuvre away from oil profits

Saudi Arabia’s cabinet has approved massive economic reforms designed move the country away from its reliance on (more…)

Shell head demands carbon price

The head of one of the biggest fossil fuel producers around the globe has pressed on governments to put a price on carbon.

At the LNG 18 conference, which (more…)

Billions could be added to economy thanks to Gatwick oil

UK Oil & Gas Investments PLC have commented that the Weald Basin’s oil reserves could make a ‘very significant’ contribution to the economy in the United Kingdom.

Oil production in Southern England has (more…)

Stalemate on Doha arrangement leads to crash in oil prices

Oil prices fell yesterday (April 17) after attempts by many of the world’s largest oil producers to freeze output finished without a deal being put in place.

The sticking point proved to be Saudi Arabia insisting on (more…)

What are the top 10 oil producing countries?

In 2012, the International Energy Agency revealed that more than 64 percent of the world’s oil production came from the top ten of countries producing oil. This means that a lot of the oil we use, whether it is greasing machinery or powering our vehicles, comes from a small number of places.

The top oil producing countries in 2015 were as follows: (more…)

Economist says oil directors should take a pay cut to safeguard North Sea jobs

A top economist has made the suggestion that the directors of oil companies should lower their own pay in order to protect offshore jobs based in the North Sea.

Speaking to (more…)

Oil prices drop amidst worries about output freeze

Crude oil prices dropped today when global bank Goldman Sachs was negative about the prospects of a prospective oil producer meeting being successful in handling the current global oversupply.

However, the crude prices did not fall too (more…)

Crude oil space mission underway

The European Space Agency has got together with French and Chinese oil giants in order to launch highly pressurized vats of crude oil into orbit.

This piece of experimental space luggage is (more…)

Getting to know food grade lubricants

One of the biggest concerns amongst food, drink and pharmaceutical manufacturers is the health and safety aspect of their products. This means that they are fastidious about hygiene and cleanliness in every aspect of their production processes.

When most people think about health and safety practices in the consumables industries, they think about (more…)

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