Shell is getting ready to pay back a $2bn debt it owes to the Iranian Oil Company with a view to renewing business relations in Continue reading Shell set to pay Iran oil debt
The Scottish Conservatives have said that Continue reading North Sea oil revenues down at beginning of 2015
According to prominent city brokers, oil firm Royal Dutch Shell, which makes a number of oil-based products like Continue reading Shell one of the ‘most resilient’ oil companies
Fuchs Petrolub, known for manufacturing a such oil-based products as Fuchs WSP 783-L, recently announced its Continue reading Fuchs Petrolub acquires Statoil Fuel & Retail Lubricants
An August report revealed that the price of oil was at a six-year low thanks to an upward movement in reserve stockpiles, and now a new report has shown that oil prices are the lowest they have been in seven months.
It has also been revealed that the International Brent crude benchmark is at the lowest it has been since January of this year.
According to a report by the Financial Times, on Wednesday 19th August, a representative of The International Energy Agency let it be known that U.S. oil reserves were up by 2.6m barrels, suggesting that the theory of many industry analysts that oil stocks would show a decline may have been off the mark.
It was also revealed that there was a spike in oil consumption during the peak holiday season thanks to the lower price of petrol, but this was not enough to counter a large increase in imports.
The news will no doubt affect big manufacturers such as Shell and Mobil, and will be of interest to people who buy or sell popular oil products like Mobil Delvac SGO 75W90.
Speaking to The Financial Times, Citi analysts commented that it was ‘a conceivable reality’ that U.S. oil could reach a $32 low, which is equal to the prices reached at the peak of the financial crisis in 2008.
There are also rumours that the growing health of the Chinese economy could further push down the price of oil in Western nations.
Royal Dutch Shell is keen to lease a storage site located at Mangalore, India if it can get the right deal.
The global oil company, known for products like Continue reading Shell looking to lease Indian strategic oil storage
Royal Dutch Shell received EU approval for its £37.9bn acquisition of British firm BG Group, on Wednesday, September 2nd.
This was good news for Continue reading Shell’s BG Group takeover cleared
August 31 saw oil prices drop to under $49 per barrel. This came immediately after two days of a six-week high in prices.
It is believed that the Continue reading End of August sees sharp fall in oil prices
The leading gas and oil company Shell has secured the last permit required for it to be able to start drilling operations under the sea at the Arctic, in search of oil.
Work actually began at this Continue reading Shell secures Arctic oil permit
Construction work is now underway on a new wind farm located at Devon’s Den Brook valley, with the company behind the Continue reading Work starts on wind farm at Den Brook