Oil production in the United Kingdom
04/05/2017 by OilStoreAdministrator
The United Kingdom may not be one of the world’s largest oil producers, but at 978,000 barrels a day in 2016, it remains the world number 18 for oil production and is second only to…
Russian output could reach new peak
03/05/2017 by Richard
Russian officials and investment details from oil firms indicate that the country’s oil output is poised to climb to a new 30-year peak if the OPEC-led supply cuts are not continued after June 30. As…
Wind-powered oil extraction moves one step closer
30/04/2017 by Richard
Phase one of a DNV GL-led joint industry product has recently been completed, establishing the technical feasibility of using wind to power offshore water injection for oil extraction. The WIN WIN (WINd-powered Water INjection) project…
Russia hits production-cut milestone
27/04/2017 by OilStoreAdministrator
Russia has successfully cut its oil production by 250,000 barrels per day, with further cuts to follow. Another 50,000 barrels per
Oil prices settle after comments from OPEC and Saudi Arabia
24/04/2017 by Mark
Oil prices steadied last Wednesday, April 19, after the Secretary General of OPEC reiterated the organisation’s commitment to
Synthetic oil innovator passes away
21/04/2017 by Mark
AMSOIL INC. has announced that its founder, Al Amatuzio, passed away last month aged 92, leaving a legacy that
OPEC monthly report points to a strong US driving season
18/04/2017 by Mark
A high demand for petrol in the United States should help drive up summer oil prices, according to OPEC’s latest
OPEC cuts encourage traders to tap Caribbean oil hoards
13/04/2017 by Richard
The current supply glut may be drawing to an end as traders begin draining hidden stockpiles of oil in the
Scotland sets new wind power record for March
10/04/2017 by OilStoreAdministrator
Wind power data for March reveals that turbines in Scotland sent a record amount of power to the National Grid, despite it
The world’s top oil-producing countries: Brazil
08/04/2017 by OilStoreAdministrator
According to the World Bank and the International Monetary Fund, Brazil has the eighth-largest economy in terms of exchange rate value and the seventh largest in terms of purchasing power parity. It is the fifth-biggest…
Saudi warnings fail to curb US rig count
07/04/2017 by Richard
The US rig count has continued to rise despite warnings from Saudi Arabia over increased production. According to Baker Hughes, there are now
The world’s top oil-producing countries: Kuwait
07/04/2017 by Richard
Kuwait may be a tiny country, but it is home to over four million people, with some 70% of these being expatriates. The country also has substantial oil reserves (the fifth largest in OPEC) and,…