‘Gatwick Gusher’ could prove rich oil source, says UKOG
21/02/2016 by Mark
According to UK Oil & Gas Investments (UKOG), the Weald Basin, which has been dubbed the ‘Gatwick Gusher’, has
Oil heavyweights come to output agreement
18/02/2016 by Richard
Russia and Saudi Arabia have agreed to freeze current oil output at near-record levels in the first coordinated move by the two oil giants. This is a move to counteract a
January sees drop in China’s crude oil imports
16/02/2016 by OilStoreAdministrator
China’s crude oil imports fell by 20% in January 2016, plunging to their lowest levels since October 2015, according to official customs data, which was shown yesterday (February 15). The country’s January crude oil imports…
Rosneft renounces case for cuts to oil output
13/02/2016 by Mark
On Wednesday, Russian oil industry official Igor Sechin signposted his opposition to the prospect of linking with the
Iran seeks euro oil payments
10/02/2016 by Mark
Iran is looking to recover multiple billions of dollars it is owed by India and other oil purchasers, but wants to do so in euros rather than the U.S. currency. The Middle Eastern nation it…
Morgan Stanley revises oil price predictions
07/02/2016 by OilStoreAdministrator
Financial services giant Morgan Stanley has downgraded its forecast for oil prices, predicting low prices to endure for
Russia’s OPEC comments cause oil to rise
04/02/2016 by OilStoreAdministrator
Oil prices rose yesterday (February 3) after Russia stated its openness to speak with the Organization of the Petroleum Exporting Countries (OPEC) about output cuts. Russia’s apparent willingness to
BG shareholders give Shell takeover the green light
01/02/2016 by Richard
Investors in BG Group voted in favour of the £35bn takeover of the company by Royal Dutch Shell, which produces
Oil predicted to remain under $40 per barrel for 2016
29/01/2016 by Mark
According to The World Bank, oil prices are expected to stay under $40 (£27.85) per barrel throughout this year. Speaking on Tuesday, The World Bank cut its
“Not impossible” for oil to fall as low as $10 per barrel, says BP chief
26/01/2016 by Mark
The boss of British oil company British Petroleum (BP) has made waves by commenting that the price of oil could fall as
First U.S. tanker reaches European shores
23/01/2016 by OilStoreAdministrator
The first American oil tanker to navigate from the United States, following the lifting of restrictions on the
Saudi Oil Minister optimistic of rise in crude oil prices
21/01/2016 by OilStoreAdministrator
Ali Al-Naimi, the Saudi Oil Minister, has stated his belief that crude oil prices will rise. He also foresees that in time, there will be renewed stability in the oil market, due to market forces…