Canada wildfires cause oil price hike
09/05/2016 by Mark
Oil prices were up by over 2% this morning (May 9), as traders in Asia weighed up the impact of the wildfires causing so many problems in Canada’s biggest oil-producing province, as well as a…
Four common oil analysis fallacies
06/05/2016 by Mark
There are a number of common misconceptions that people who deal with machinery lubrication need to be made aware of if they are to ensure that their equipment runs at peak performance, and does not…
Think-tank says oil giants should drop high-cost projects
06/05/2016 by Mark
Major oil companies, including Shell (which manufactures Shell Omala S2 G 320) and BP, could increase market value by around $140bn (£97bn) should they choose schemes that aim to keep global warming at 2°C, according…
Shell predicts lubricant growth in Asia
03/05/2016 by Mark
Shell company of Thailand, which is known for products like Shell Tonna S3 M 68 and is the fourth biggest oil retailer in the country, believes it will see sales of its lubricants rise by…
Cost of oil reaches yearlong high
30/04/2016 by Richard
In late April, oil prices reached a 2016 high, with Brent crude rising $1.03 (£0.70) to a high of $46.77 (£32.02) per barrel, whilst
Saudi Arabia agrees to manoeuvre away from oil profits
27/04/2016 by Richard
Saudi Arabia’s cabinet has approved massive economic reforms designed move the country away from its reliance on
Shell head demands carbon price
24/04/2016 by OilStoreAdministrator
The head of one of the biggest fossil fuel producers around the globe has pressed on governments to put a price on carbon. At the LNG 18 conference, which
Billions could be added to economy thanks to Gatwick oil
21/04/2016 by Richard
UK Oil & Gas Investments PLC have commented that the Weald Basin’s oil reserves could make a ‘very significant’ contribution to the economy in the United Kingdom. Oil production in Southern England has
Stalemate on Doha arrangement leads to crash in oil prices
18/04/2016 by OilStoreAdministrator
Oil prices fell yesterday (April 17) after attempts by many of the world’s largest oil producers to freeze output finished without a deal being put in place. The sticking point proved to be Saudi Arabia…
Economist says oil directors should take a pay cut to safeguard North Sea jobs
14/04/2016 by Richard
A top economist has made the suggestion that the directors of oil companies should lower their own pay in order to protect offshore jobs based in the North Sea. Speaking to
What are the top 10 oil producing countries?
14/04/2016 by OilStoreAdministrator
In 2012, the International Energy Agency revealed that more than 64 percent of the world’s oil production came from the top ten of countries producing oil. This means that a lot of the oil we…
Oil prices drop amidst worries about output freeze
11/04/2016 by Richard
Crude oil prices dropped today when global bank Goldman Sachs was negative about the prospects of a prospective oil producer meeting being successful in handling the current global oversupply. However, the crude prices did not…