When will fossil fuels run out?
03/01/2020 by Mark
The prospect of fossil fuel supplies running out is one that is often given media coverage, yet even scientists find to it hard to make an accurate prediction regarding when this might occur. Will it…
Guyana sees first offshore oil production
02/01/2020 by OilStoreAdministrator
The vast oil reserves offshore of Guyana were first found in 2015, but December 20 marked a historic milestone as
Does oil come from dinosaurs?
31/12/2019 by Richard
There is a fairly widely held belief that oil comes from dinosaurs, but are fossil fuels really the remnants of these prehistoric beasts? Is oil being made from dinosaurs an idea with any basis in…
IEA predicts oil surplus in 2020
30/12/2019 by Mark
Despite OPEC+ recently deepening its production cuts, combined with further voluntary cuts from Saudi Arabia, the International Energy Agency (IEA) predicts in its latest report that an oil glut will be inevitable in 2020. Part…
How oil is formed and what it is made from
29/12/2019 by OilStoreAdministrator
Upon thinking of oil, we might picture a thick, dark coloured, viscous and slightly sticky liquid. Most people are aware that oil is a fossil fuel, and that is comes from under the Earth’s surface,…
Brighter outlook for oil production in Alberta
28/12/2019 by Richard
The Conference Board of Canada (CBoC) predicts that oil production in the oilsands of Alberta may soon start a period of consistent growth. The government of Alberta previously
Russian oil production may exceed 12 million bpd by 2035
26/12/2019 by OilStoreAdministrator
According to a forecast from Lukoil, the second-largest oil producer in Russia, the country’s combined condensate and oil production may surpass 12 million barrels per day (bpd) by 2035 if global demand continues to grow.…
Shell launches new platform for used oil analysis
24/12/2019 by Richard
Shell Marine, the shipping-oriented arm of oil giant and lubricant manufacturer Royal Dutch Shell, has launched its new next-generation digital platform for used oil analysis. The service has been planned and
North Dakota achieves record oil production
22/12/2019 by Mark
Most people probably think about the Permian Basin of Texas and New Mexico when it comes to US shale oil production. North Dakota is also experiencing its own oil boom, though, with its Department of…
OPEC+ agrees deeper-than-expected production cuts
12/12/2019 by Richard
OPEC and its partners, commonly known as OPEC+, have come to an agreement to extend and deepen the production limits that began in 2017. Under the new deal hammered
Suncor predicts higher production next year
08/12/2019 by OilStoreAdministrator
Suncor Energy Inc., an integrated Canadian energy company, has announced that it expects its oil and gas production to rise by 5% next year. It also added that there was
Russia to request change in how its output is calculated
06/12/2019 by OilStoreAdministrator
Reuters reports sources claiming that Russia is set to ask for changes in how its oil production is measured as