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Saudi Arabia planning record oil production

Bloomberg reports sources informed about Saudi Arabia’s output policy as saying that the country is preparing to pump a record-breaking 10.8 million barrels per day (bpd) in July. This would follow the recent OPEC deal where members agreed to relax production caps by a million bpd. At the meeting, Khalid Al-Falih, the Saudi Arabian Energy Minister, said his country would prioritize its customers by doing “whatever is necessary to Continue reading Saudi Arabia planning record oil production

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OPEC reaches deal to increase oil production

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

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BP’s annual energy review shows big jump for renewables

Oil giant BP has published its annual Statistical World Energy Review for this year, and revealed that 17% of global energy growth came from renewable sources.

This year’s increase is the largest ever for renewables. Equivalent to about 69 million tonnes of oil, it would be enough to meet the energy demands of both Denmark and Sweden combined.

While wind power has been growing rapidly in the UK—driven by better economies of Continue reading BP’s annual energy review shows big jump for renewables

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ExxonMobil starts road trip to prove its new motor oil

Through its Mobil stockists, ExxonMobil has long been delivering high-performance lubricants with long drain intervals. To demonstrate its claims about its new Mobil 1 Annual Protection motor oil, however, the company has launched a 20,000-mile round trip around 48 states in the US, involving a variety of driving conditions, without an Continue reading ExxonMobil starts road trip to prove its new motor oil