Venezuela’s ailing oil sector may receive a welcome boost through investment from China, according to a report Continue reading China to invest $250 million boosting Venezuela oil production
Few can argue with the need for a good lubrication programme with quality products, such as those from Mobil stockists. While many people talk about increased reliability, less unscheduled downtime, and greater efficiency, this all Continue reading How to quantify the benefits of a lubrication programme
A new report from insurance company The Swedish Club has revealed that lubrication errors are now the most common, and most expensive, cause of marine main engine damage.
The study covers 8,759 insured vessels over Continue reading New study finds increase in engine lubrication failures
OPEC members at the summit in Vienna have arrived at a deal to increase production by up to a million barrels per day (bpd). Some OPEC members were thought to object to a production increase because they lack the spare capacity to benefit from it.
The OPEC production caps, which came into force in Continue reading OPEC reaches deal to increase oil production
The US could be the world’s top oil producer by the autumn according to Scott Sheffield, the chairman of the major shale producer Pioneer Natural Resources.
Speaking to CNN Money, Sheffield says he expects US oil production to exceed Continue reading Shale executive claims US soon to be top oil producer
Both Russia and Saudi Arabia, two of the world’s biggest oil producers, have loosened the taps on oil production ahead of the next OPEC in Vienna on June 22. It is widely anticipated that the cartel, along with its non-member partners, will agree to relax the current production caps to some degree at the meeting.
Saudi Arabia, which has generally been producing Continue reading Russia and Saudi Arabia raise oil production in run up to OPEC meeting
Carbon Engineering, a privately owned Canadian company, has published an article in scientific journal Joule describing a new process for extracting carbon dioxide from the atmosphere. Once extracted, they intend to be able to convert it into fuel.
The new approach stands out because it Continue reading Canadian company announces new way to capture carbon dioxide
Bloomberg, quoting sources familiar with the matter, reports that the US Government has made a subtle request from OPEC to increase oil production by a million barrels per day (bpd).
While US politicians often criticize OPEC’s management and encourage the cartel to raise production when oil prices climb, it is uncommon for the government to suggest such a specific raise. One theory is that it may compensate for displaced oil production that could follow the reintroduction of Continue reading US asks OPEC to boost oil production
Energy company ExxonMobil, which also makes extreme pressure gear oils like Mobilgear 600 XP 68, has acquired a 25% stake in offshore drilling in Pakistan. Prior to the acquisition, Italian energy firm Eni, Oil and Gas Development Company (commonly known as OGDCL), and state-owned Pakistan Petroleum Limited (PPL) all held equal third shares.
On Monday May 28, an agreement was signed at Continue reading ExxonMobil buys into Pakistan’s offshore drilling
ExxonMobil, the energy giant behind Mobil UK stockists, has set itself new targets for reducing emissions from its upstream operations.
Compared with 2016 levels, the company says it will reduce its methane emissions by 15% by 2020. Methane is the main constituent of natural gas, but it is also Continue reading ExxonMobil targets emission reductions