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Five of last year’s biggest oil and gas discoveries

28/08/2018 by Mark

While an oil field never goes entirely dry, it eventually becomes unproductive because the cost of extracting the remaining oil exceeds its market value. While operators have been, and continue to be, remarkably adept at
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US releases 11 million barrels from oil reserves

24/08/2018 by Mark

The US Department of Energy is offering 11 million barrels of crude oil for sale from its strategic oil reserves, with delivery taking place in October and November.
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Saudi Arabian oil production down in July

18/08/2018 by OilStoreAdministrator

Saudi Arabia, OPEC’s largest oil producer, pumped just 10.3 million barrels per day (bpd) in July according to its own reports
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Russia helps grow global oil production

15/08/2018 by Richard

July saw the world’s supply of oil increase, thanks in part to an unexpectedly sharp rise in Russian oil production.
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ExxonMobil set for major oil discovery in Pakistan

12/08/2018 by Mark

According to comments from Abdullah Hussain Haroon, Pakistan’s Minister for Maritime Affairs and Foreign Affairs, ExxonMobil is on the verge of discovering huge new oil reserves
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Scottish oil industry shows signs of recovery

06/08/2018 by Richard

Scotland oil industry is preparing to reverse years of regression, according to the Scottish newspaper Daily Record. The paper quotes port bosses, in
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US oil production falls short of forecast

03/08/2018 by Mark

In what has been predicted to be a record-breaking year for US oil production, there is an indication that the recent boom may be faltering. Drillers in
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Seven billionaires who made their fortune from oil

03/08/2018 by Mark

Oil is often described as black gold, an essential commodity that drives economic growth. It’s therefore no surprise that many shrewd operators have amassed vast
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Texas set to break annual oil production record

30/07/2018 by Mark

The US state of Texas looks likely to shatter its all-time annual oil production record of 1.263 billion barrels from 1972. What’s more, this will be achieved with fewer rigs and workers than a few
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US not producing enough oil for prices to be lowered

27/07/2018 by Mark

The International Energy Agency’s energy markets and security director has testified before the Senate Energy and Natural Resources Committee that the US alone cannot ramp up production enough to have a significant effect on
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US to soon become world's top oil producer

24/07/2018 by OilStoreAdministrator

The US is set to become the world’s top oil-producing nation for the first time since the mid-1970s, according the July short-term energy outlook from the
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China to invest $250 million boosting Venezuela oil production

12/07/2018 by OilStoreAdministrator

Venezuela’s ailing oil sector may receive a welcome boost through investment from China, according to a report
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