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
Saudi Arabia looks to boost oil price before Aramco IPO
04/12/2019 by Mark
Saudi Arabia is expected to push for measures to boost oil prices ahead of the upcoming initial public offering (IPO) of Saudi Aramco, the country’s state-owned oil company, which is also the largest oil company…
US shale to pump more oil than Russia
18/11/2019 by OilStoreAdministrator
Despite recent signs of a slowdown and less-than-optimistic forecasts for future production growth, the International Energy Agency (IEA) believes
US oil production growth set for major slowdown
14/11/2019 by Mark
The growth in US oil production may be running out of steam, according to IHS Markit’s latest outlook for oil market fundamentals. According to IHS Markit’s vice president for North American uncoventionals, Raoul LeBlanc, production…
Brazil looks to more than double oil production
12/11/2019 by OilStoreAdministrator
Bento Albuquerque, Brazil’s Energy Minister, has said the country can potentially more than double its oil production, although he did not indicate how quickly this could be realised. Currently, the