Goldman doubts increased OPEC+ production
20/08/2021 by OilStoreAdministrator
Investment bank Goldman Sachs has said in a note that it does not expect the OPEC+ group to accede to a US request to increase production of oil to tame the rising oil prices that…
Iraq plans to raise oil production
18/08/2021 by Mark
Ihsan Ismaael, the Oil Minister of Iraq, has told the Iraqi News Agency that the government now hopes to raise oil production to eight million barrels per day (bpd) by 2027, which would further secure…
Saudi Aramco sees surge in profits
16/08/2021 by Richard
The Saudi state-backed oil company Aramco has reported a large increase in profits following a
ExxonMobil considering net-zero pledge
14/08/2021 by OilStoreAdministrator
Reuters reports that oil major ExxonMobil is considering whether to commit to achieving net-zero carbon emissions by 2050.
What does the term precision lubrication mean?
13/08/2021 by Mark
In terms of mechanical equipment’s dependability on grease or oil-lubricated parts, precision lubrication involves using the correct type, quantity and quality of lubricant. It also involves lubricating the correct component in the appropriate place and…
Nynas pushes for lower-carbon roads
12/08/2021 by Richard
Nynas, which, in addition to making lubricants like transformer oil, also sells bitumen products, has published a white paper about how the carbon footprint of
Why is regular oil analysis essential onsite?
11/08/2021 by OilStoreAdministrator
If your operation is unfortunate enough to be among the companies that have experienced mechanical breakdowns, you may want to look to your lubricant use for answers. Counted as two of the key causes of…
BP reports strong second-quarter earnings
10/08/2021 by Mark
Energy company BP has joined a number of oil companies in posting earnings that were greater than expected for quarter two thanks to
Four kinds of lubrication and their uses explained
09/08/2021 by Richard
To ensure every lubricant used for machinery is effective, it’s vital to understand the different forms it can take. If the wrong type of lubricant is used, it can lead to a drop in mechanical…
Fuchs widens carbon-neutral goal
08/08/2021 by OilStoreAdministrator
While lubricant maker Fuchs’s manufacturing facilities have been running on a basis that is carbon neutral, it has announced it will extend this ambition to all its joint ventures and non-production holdings, regardless of the…
Tips for a smarter approach to lubrication
07/08/2021 by Mark
Employing effective methods of lubrication onsite can provide numerous benefits. You might be looking for simpler, more streamlined ways of using the oils and greases you buy or looking to save money on how much…
Shell courts buyers for its Permian assets
06/08/2021 by Richard
Bloomberg reports that potential suitors have been invited to consider purchasing Shell’s assets in the US Permian Basin, which largely drove the resurgence in US oil production in recent years and is currently responsible for…