Will the world's oil ever run out?
14/05/2017 by Richard
As fossil fuels, oil and gas are inevitably finite resources, yet we will not be running out of them anytime soon. In 2015, oil major BP predicted that despite booming consumption, global oil reserves would…
Shale oil is not always tight oil
13/05/2017 by Mark
There’s a lot of talk about the booming shale oil industry in North America, but this would be more accurately referred to as tight oil, which is crude oil from oil-bearing shales. Shale oil can…
Shell announces improved first quarter results
12/05/2017 by OilStoreAdministrator
Royal Dutch Shell has announced an increase in its Q1 profits, with those on a cost of supplies basis up 142% to $3.8bn on the same quarter last year. Shell’s results follow a
How American big oil came to embrace Silicon Valley
11/05/2017 by OilStoreAdministrator
Perhaps nothing symbolizes the oil fields of America more than the nodding donkey endlessly pumping oil from the ground. This workhorse of the oil industry remained largely unchanged for a century. After all, when you…
Tight oil production in the United States and Canada
10/05/2017 by Mark
You may have heard about the recent resurgence of US oil production thanks to shale oil, but this is actually a little misleading. The term “shale oil” can refer to both oil produced from oil…
Global wind power to exceed 800 gigawatts by 2021
09/05/2017 by Mark
The global capacity from wind power is expected to exceed 800 gigawatts (GW) by 2021, according to a new Global Wind Energy Council (GWEC) report. The Global Wind Report: Annual Market Update also
ExxonMobil sees profits double thanks to stable oil prices
06/05/2017 by OilStoreAdministrator
ExxonMobil, which makes industrial lubricants like Mobilgear 600 XP 68 and high-performance engine oils like Mobil 1 New Life 0W/40, has reported that its first-quarter profits were up 122% over the same quarter last year,…
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