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
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.
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
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.
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
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
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
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
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…
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
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
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