Crisis ‘almost at turning point’ according to Oil and Gas survey
30/11/2016 by Mark
With more than two in three companies in the oil and gas sector making job cuts in 2015, there are signs that the trouble may be reaching a shifting point following a
IEA anticipates oil investment to fall again in 2017
27/11/2016 by OilStoreAdministrator
Investment in fresh oil production is expected to fall for the third year in a row in 2017, as the worldwide supply glut continues fostering volatility in the crude oil markets, according to the head…
Oil prices at highest since October
24/11/2016 by OilStoreAdministrator
Oil prices reached their highest levels since October on 22nd November, as the market was
IEA warns of oil boom and bust
21/11/2016 by Richard
The International Energy Agency (IEA) has revealed that it thinks a cycle of boom and bust in the oil industry is a likely outcome if the present cutback in
Russia not expecting another oil price crash
18/11/2016 by Mark
The chairperson of Russia’s Central Bank does not believe that another catastrophic fall in oil prices is likely, although she expects that a market recovery will not be substantially higher than present rates. Speaking on
OPEC lowers oil price outlook by $20
15/11/2016 by Richard
The Organisation of Petroleum Exporting Countries (OPEC) has released a new report in which it states that oil prices may not reach levels above $60 (£48.32) per barrel until around 2020. In the report, OPEC…
Global oil prices fall as Trump triumphs
12/11/2016 by Mark
As Donald Trump stunned the world by swooping to presidential victory, the oil markets were less victorious, as oil prices slipped below the
Oil giants to invest £1bn in low-carbon tech
09/11/2016 by Mark
Ten of the biggest oil companies on the planet have set up a fund that will invest $1bn in technologies that are able to cut carbon emissions from both oil and
Shell makes bigger profits than expected
04/11/2016 by OilStoreAdministrator
Oil giant Shell, which makes industry-leading products like Shell Gadus S2 V100 3, has beaten forecasts to make bigger profits than anticipated in the three months up to the end of September, it was
Non-OPEC members yet to pledge to definite output steps
03/11/2016 by OilStoreAdministrator
Nonmembers of the Organisation of Petroleum Exporting Countries (OPEC) have failed to make a specific commitment to curb oil output at a meeting last Saturday, October 29. Although OPEC members have
Royal Dutch Shell set for major assets sale
30/10/2016 by Mark
Royal Dutch Shell, the oil giant known for products like Shell Omala S2 G 320 and Shell Gadus S2 V100 3, is set to sell $1bn of Western Canadian assets in a bid to raise…
OPEC quarrel leads to dip in oil
27/10/2016 by OilStoreAdministrator
The price of oil dipped on Tuesday, October 25 as disagreements emerges within the Organisation of Petroleum Exporting Countries (OPEC) about who should cut which amount of production in a planned output reduction to