Researchers announce new method for making biofuel
24/05/2018 by Mark
Researchers at the University of Turku in Finland have announced that they have found a new efficient way to use algae to make biofuel. In the new method, the algae uses solar energy to split…
Profits rise at ExxonMobil
06/05/2018 by Richard
ExxonMobil, the energy giant behind Mobil UK distributors, showed a 16% year-on-year rise in profits after posting its first-quarter earnings. The company’s share price dipped slightly, though, amid perceptions that the profit rise had not…
ExxonMobil looks for quick output from Guyana
03/05/2018 by Mark
ExxonMobil is looking for a quick return on its investment in the tiny South American country of Guyana amid claims from the IMF that its contract was “favourable” to the oil giant. ExxonMobil, which in…
What ExxonMobil learned from analysing oil samples
02/05/2018 by Richard
Any good maintenance strategy should consider using used oil analysis (UOA), so operators can make informed decisions about when to make costly interventions such as
Chevron tells executives to leave Venezuela after arrests
30/04/2018 by Mark
Following the arrests of two of its workers over a contractual dispute, Reuters reports sources saying that Chevron has evacuated its executives from Venezuela. Other workers have also been instructed to stay away from its…
Venezuela’s oil production continues drop
18/04/2018 by OilStoreAdministrator
Venezuela’s problem-stricken oil industry suffered a new blow as the country reported a fresh drop in production to OPEC
Energy expert thinks rising US oil exports could reverse crude's rally
15/04/2018 by OilStoreAdministrator
Speaking in an interview with CNBC, energy expert Tom Kloza, co-founder of the Oil Price Information Service, said that the record US crude oil exports could potentially unbalance the global oil markets. Kloza
Iraq set for large capacity boost
09/04/2018 by Richard
The Iraqi government in Baghdad has given the green light to a plan to boost its oil capacity. By 2022, the
Russian oil production hits 11-month high in March
07/04/2018 by OilStoreAdministrator
Russia’s oil production increased slightly in March for the first time since April last year. It reached an average of 10.97 million barrels per day (bpd), a little above its agreed limit of 10.947 million…
UK North Sea oil to decline in 2019
01/04/2018 by OilStoreAdministrator
According to a report from Bernstein, oil production from the UK Continental Shelf (UKCS) is set to return to a decline in 2019 following a brief respite since 2015. While UK North Sea oil production…
Russia’s Lukoil says OPEC deal should be open ended
29/03/2018 by Mark
Vagit Alekperov, the CEO of Russian multinational oil company Lukoil, has stated that he believes the various parties to the OPEC-led production cuts should give up on speculating about when the deal might expire. He…
Saudi Arabia expects output cuts to persist into 2019
26/03/2018 by OilStoreAdministrator
Speaking in an interview in Washington, DC, the Saudi Energy Minister Khalid al-Falih said OPEC will need to continue cooperating with Russia and other non-OPEC oil producers on supply curbs into 2019 if global inventories…