Oil producers expectant that price slump is over
24/10/2016 by Mark
A number of the planet’s biggest oil executives recently met up in a London Mayfair hotel for an industry summit. During this summit, Brent crude was fetching £52 per barrel, which is the exact same…
Oil companies experiment with cost-saving technologies
21/10/2016 by Richard
Oil giants including Chevron, Statoil and Royal Dutch Shell, the latter of which manufactures Shell Tellus S2 M 46, are experimenting with several technologies, including drill design and drones, in a bid to
Investors regain interest in US oil
18/10/2016 by OilStoreAdministrator
Investors are renewing their interest in US oil and gas properties that are deemed to come with more risk, as the rebound in crude oil prices boosts hopes that the oil industry faces a more…
Iraqi oil minister wants to up output in 2017
15/10/2016 by Mark
In a statement released on Sunday, October 9, the Iraqi oil minister encouraged oil and natural gas producers with operations in the country to
Libya increases oil exports
12/10/2016 by Richard
Just over a week after the Organization of Petroleum Exporting Countries (OPEC) came to an agreement in regards to reducing global oil supplies, Libya has
BP buys Iranian oil for first time since ban lift
09/10/2016 by Richard
Worldwide Oil Giant BP has recently purchased a quantity of natural gas condensate from Iran’s state-owned oil company, marking the first time it has done so since sanctions upon the Middle Eastern country were removed…
OPEC deal causes Shell shares to soar
08/10/2016 by Mark
Shares in oil giants Royal Dutch Shell, which produces Shell Tellus S2 M 32, and fellow oil big-hitter BP, have surged following an agreement between the biggest oil producing companies to cut production of oil…
Russia breaks oil output record
06/10/2016 by Richard
Russian oil output rose by nearly 4% in the month of September – the equivalent of 11.11 million barrels per day – breaking a new record for post-Soviet output levels. The figure is expected to
Maersk to divide and concentrate on North Sea operations
05/10/2016 by Richard
Maersk, the family-owned shipping giant based in Copenhagen, is going to be split, with its energy interest focusing more closely on the North Sea. The company, which was
Troubled Venezuela reveals $3.2bn on oil deals
04/10/2016 by OilStoreAdministrator
Venezuela, a country currently struggling with a pending economic collapse of mammoth proportions, has revealed that it is hurrying through a tender for billions of dollars’ worth of drilling contracts in a bid to
North Sea oil production rises
01/10/2016 by Richard
The UK’s oil production levels have risen in the North Sea, showing the initial signs of a tentative recovery from the crash that has affected
Unexpected drop in US crude causes oil prices to rise
23/09/2016 by Mark
Oil prices were up by two percent on Wednesday, September 21, following an unexpectedly large fall in US crude oil inventories, and an oil strike, which took place in Norway and had the potential to…