Goldman pushes back timetable for $100 oil
17/02/2023 by OilStoreAdministrator
Investment bank Goldman Sachs has downgraded its forecast for oil prices this year, with it now no longer expecting crude oil prices to reach $100 per barrel until December this year. It had previously predicted…
Oil price rises on Russian oil production cut
16/02/2023 by Richard
The price of the benchmark Brent crude oil rose 2.2% to around $86 per barrel after Alexander Novak, Russia’s deputy Prime Minister and former Energy Minister, announced a 500,000 barrels per day (bpd) production cut.
Finalists announced for Morris-sponsored heritage railway award
15/02/2023 by Katie
The Heritage Rail Association has announced the finalists for this year’s awards, including one sponsored by Shrewsbury-based Morris Lubricants.
HyEkoTank fuel cell project launched by TECO 2030
15/02/2023 by Mark
Together with Shell and other partners, TECO 2030 has launched its HyEkoTank project, aiming to develop a fuel cell system that can be retrofitted to marine tankers.
OPEC’s Secretary General believes organisation deserves more credit
14/02/2023 by OilStoreAdministrator
The Secretary General of OPEC, Haitham Al Ghais, has told Reuters that he believes the OPEC+ group, which includes the OPEC member nations plus some non-member oil-producing countries, deserves to be credited for the manner…
Saudi Arabia remains cautious on raising oil production
13/02/2023 by Richard
Some market forecasters have predicted rising oil demand in the coming months. This is due to favourable economic data from some oil-consuming countries and the reopening of Chinese society, although Prince Abdulaziz bin Salman, Saudi…
New car sales grow for sixth consecutive month
12/02/2023 by greg
New data from the Society of Motor Manufacturers and Traders (SMMT) has revealed that the sale of new cars grew by almost 15% in January to 131,994, which is the automotive sector’s best yearly start…
Make UK holding National Manufacturing Conference
10/02/2023 by Mark
Manufacturing organisation Make UK has unveiled details for this year’s incarnation of the National Manufacturing Conference. The event, titled “Inspiring Solutions”, will take place on Tuesday, March 7 at the QEII Conference Centre in London.
Investment in electrification critical for UK automotive
09/02/2023 by Mark
According to the head of the Society of Motor Manufacturers and Traders (SMMT), continuing to attract inward investment will be key to electrifying the UK automotive sector and thereby ensuring its future success.
Castrol forms new partnership to further immersion cooling
09/02/2023 by OilStoreAdministrator
Leading lubricant brand Castrol is set to work with the Research Institutes of Sweden (RISE) on developing new coolant fluids for use in immersion cooling for power-hungry data centres.
Houlder completes hydrogen vessel design for Shell
08/02/2023 by Richard
UK company Houlder, which consults on engineering and design, has finished a substantial design for a vessel capable of carrying 20,000 cbm of liquid hydrogen (LH2) for Shell’s trading and shipping division.
BP releases latest version of its Energy Outlook
07/02/2023 by Mark
Energy titan BP has released its Energy Outlook 2023, which explores the uncertainties and trends related to the process of transitioning to a net-zero energy system by 2050.