Wind-powered oil extraction moves one step closer

Phase one of a DNV GL-led joint industry product has recently been completed, establishing the technical feasibility of using wind to power offshore water injection for oil extraction.

The WIN WIN (WINd-powered Water INjection) project includes using a (more…)

Russia hits production-cut milestone

Russia has successfully cut its oil production by 250,000 barrels per day, with further cuts to follow.

Another 50,000 barrels per (more…)

Oil prices settle after comments from OPEC and Saudi Arabia

Oil prices steadied last Wednesday, April 19, after the Secretary General of OPEC reiterated the organisation’s commitment to (more…)

Synthetic oil innovator passes away

AMSOIL INC. has announced that its founder, Al Amatuzio, passed away last month aged 92, leaving a legacy that (more…)

OPEC monthly report points to a strong US driving season

A high demand for petrol in the United States should help drive up summer oil prices, according to OPEC’s latest (more…)

OPEC cuts encourage traders to tap Caribbean oil hoards

The current supply glut may be drawing to an end as traders begin draining hidden stockpiles of oil in the (more…)

Scotland sets new wind power record for March

Wind power data for March reveals that turbines in Scotland sent a record amount of power to the National Grid, despite it (more…)

The world’s top oil-producing countries: Brazil

According to the World Bank and the International Monetary Fund, Brazil has the eighth-largest economy in terms of exchange rate value and the seventh largest in terms of purchasing power parity. It is the fifth-biggest country in (more…)

The world’s top oil-producing countries: Kuwait

Kuwait may be a tiny country, but it is home to over four million people, with some 70% of these being expatriates. The country also has substantial oil reserves (the fifth largest in OPEC) and, at 3 billion barrels a (more…)

Saudi warnings fail to curb US rig count

The US rig count has continued to rise despite warnings from Saudi Arabia over increased production.

According to Baker Hughes, there are now (more…)

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