Trump claims US no longer needs Middle East oil
12/01/2020 by Mark
In comments made as tensions with Iran began to relax, US President Donald Trump has claimed that the country is no
Oil giants line up to enter Egypt
10/01/2020 by Mark
A number of oil majors are getting ready to explore the waters offshore of Egypt following a recent licensing round. In a
Russian oil production reaches record high
08/01/2020 by OilStoreAdministrator
Despite its participation in the OPEC-led production cuts, Russia has achieved a new post-Soviet high for oil production. Reuters is
Yet another record high for US oil production
06/01/2020 by Richard
According to recent data from the US Energy Information Administration (EIA), US oil production reached a new
Brazil’s oil production exceeds three million barrels per day
04/01/2020 by Mark
Crude oil production in Brazil went above their million barrels per day (bpd) in November last year for the first time, marking an
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
How oil is used within the food industry
27/12/2019 by Richard
When you think of oil and food, you might at first consider foods that contain oil. However oil means so much more in terms of food production than that. Oil is widely used in food…