Nigeria willing to accept production caps, but not quite yet
21/07/2017 by Richard
Nigeria has signalled a willingness to accept production caps as part of its commitment to OPEC. Emmanuel Kachikwu, Nigeria’s Oil Minister, was
BP’s CEO not expecting major oil price rise
18/07/2017 by Mark
Bod Dudley, the CEO of oil giant BP, has stated that his company is planning for an oil price around the $50 a barrel mark for
ExxonMobil enters global collaboration on lubricants for gas engines
15/07/2017 by Richard
ExxonMobil, which makes industrial lubricants such as Mobil SHC 630 and Mobil Vactra 4, has teamed up with General Electric (GE) to
Designing the world's largest wind turbine
14/07/2017 by Richard
There’s an undeniable trend towards making wind turbines larger in order to cut costs. This is especially relevant to
Kazakhstan’s oil industry explained
12/07/2017 by Mark
Straddling Eastern Europe and Central Asia, the former Soviet republic of Kazakhstan is the ninth-largest country in the
Libya’s oil output exceeds a million barrels a day
12/07/2017 by Mark
Bloomberg reports that Libya’s oil production has passed the landmark of a million barrels a day, marking a four-year high. The news came from a
World’s first floating windfarm takes to the water
11/07/2017 by OilStoreAdministrator
The first floating windfarm in the world has been introduced to a Norwegian fjord, from where the new turbines will be
Exploring the Angolan oil industry
10/07/2017 by OilStoreAdministrator
Having been blighted by a 27-year civil war following its independence in 1975, Angola remains a relatively poor country with
Goldman Sachs downgrades its oil price forecast
09/07/2017 by OilStoreAdministrator
Analysts from investment bank Goldman Sachs have slashed its projection for oil prices in the coming quarter, indicating a three-month average of $47.50 per barrel for WTI crude. The bank previously predicted oil prices averaging
Spotlight on oil production in Mexico
08/07/2017 by Richard
With an average daily production of 2,186,877 barrels per day in 2016, Mexico is ranked number 12 for oil production. Back in
A look at oil production in Libya
06/07/2017 by Mark
With an average oil production of 384,686 barrels per day in 2016, Libya may not seem like a big oil player, but this
Lower crude prices fail to dampen US shale production
06/07/2017 by Richard
The US increased its number of rigs deployed for the 23rd straight week in late June, according to Baker Hughes, an oil services firm. This represents the