Russia and Saudi Arabia promise deal extension but US inventories remain high
24/05/2017 by Richard
Oil prices received a boost as Russia and Saudi Arabia gave the strongest indication yet that the OPEC-led production cuts will
Lubrication experts and customers meet at Shell Technology Forum
21/05/2017 by OilStoreAdministrator
Shell’s lubrication experts recently met with almost 150 industrial customers from around Europe to discuss how
Dutch offshore wind farm opens in the North Sea
18/05/2017 by Mark
A giant offshore wind farm has come online in the North Sea some 53 miles off the northern coast of the
Oil sands: An unconventional oil source
15/05/2017 by Richard
Oil sands are a combination of sand, clay, water and bitumen, which is a sticky, black and highly viscous form of petroleum. Bitumen acts rather like cold molasses at room temperature and is generally too…
US rig count continues to grow
15/05/2017 by Richard
The number of producing oil and gas rigs in the US increased by another seven on Friday, May 5, according to Baker Hughes, an oilfield service provider. This marks the 16th straight build for
Will the world's oil ever run out?
14/05/2017 by Richard
As fossil fuels, oil and gas are inevitably finite resources, yet we will not be running out of them anytime soon. In 2015, oil major BP predicted that despite booming consumption, global oil reserves would…
Shale oil is not always tight oil
13/05/2017 by Mark
There’s a lot of talk about the booming shale oil industry in North America, but this would be more accurately referred to as tight oil, which is crude oil from oil-bearing shales. Shale oil can…
Shell announces improved first quarter results
12/05/2017 by OilStoreAdministrator
Royal Dutch Shell has announced an increase in its Q1 profits, with those on a cost of supplies basis up 142% to $3.8bn on the same quarter last year. Shell’s results follow a
How American big oil came to embrace Silicon Valley
11/05/2017 by OilStoreAdministrator
Perhaps nothing symbolizes the oil fields of America more than the nodding donkey endlessly pumping oil from the ground. This workhorse of the oil industry remained largely unchanged for a century. After all, when you…
Tight oil production in the United States and Canada
10/05/2017 by Mark
You may have heard about the recent resurgence of US oil production thanks to shale oil, but this is actually a little misleading. The term “shale oil” can refer to both oil produced from oil…
Global wind power to exceed 800 gigawatts by 2021
09/05/2017 by Mark
The global capacity from wind power is expected to exceed 800 gigawatts (GW) by 2021, according to a new Global Wind Energy Council (GWEC) report. The Global Wind Report: Annual Market Update also
ExxonMobil sees profits double thanks to stable oil prices
06/05/2017 by OilStoreAdministrator
ExxonMobil, which makes industrial lubricants like Mobilgear 600 XP 68 and high-performance engine oils like Mobil 1 New Life 0W/40, has reported that its first-quarter profits were up 122% over the same quarter last year,…