Non-OPEC members yet to pledge to definite output steps
03/11/2016 by OilStoreAdministrator
Nonmembers of the Organisation of Petroleum Exporting Countries (OPEC) have failed to make a specific commitment to curb oil output at a meeting last Saturday, October 29. Although OPEC members have
Royal Dutch Shell set for major assets sale
30/10/2016 by Mark
Royal Dutch Shell, the oil giant known for products like Shell Omala S2 G 320 and Shell Gadus S2 V100 3, is set to sell $1bn of Western Canadian assets in a bid to raise…
OPEC quarrel leads to dip in oil
27/10/2016 by OilStoreAdministrator
The price of oil dipped on Tuesday, October 25 as disagreements emerges within the Organisation of Petroleum Exporting Countries (OPEC) about who should cut which amount of production in a planned output reduction to
Oil producers expectant that price slump is over
24/10/2016 by Mark
A number of the planet’s biggest oil executives recently met up in a London Mayfair hotel for an industry summit. During this summit, Brent crude was fetching £52 per barrel, which is the exact same…
Oil companies experiment with cost-saving technologies
21/10/2016 by Richard
Oil giants including Chevron, Statoil and Royal Dutch Shell, the latter of which manufactures Shell Tellus S2 M 46, are experimenting with several technologies, including drill design and drones, in a bid to
Investors regain interest in US oil
18/10/2016 by OilStoreAdministrator
Investors are renewing their interest in US oil and gas properties that are deemed to come with more risk, as the rebound in crude oil prices boosts hopes that the oil industry faces a more…
Iraqi oil minister wants to up output in 2017
15/10/2016 by Mark
In a statement released on Sunday, October 9, the Iraqi oil minister encouraged oil and natural gas producers with operations in the country to
Libya increases oil exports
12/10/2016 by Richard
Just over a week after the Organization of Petroleum Exporting Countries (OPEC) came to an agreement in regards to reducing global oil supplies, Libya has
BP buys Iranian oil for first time since ban lift
09/10/2016 by Richard
Worldwide Oil Giant BP has recently purchased a quantity of natural gas condensate from Iran’s state-owned oil company, marking the first time it has done so since sanctions upon the Middle Eastern country were removed…
OPEC deal causes Shell shares to soar
08/10/2016 by Mark
Shares in oil giants Royal Dutch Shell, which produces Shell Tellus S2 M 32, and fellow oil big-hitter BP, have surged following an agreement between the biggest oil producing companies to cut production of oil…
Russia breaks oil output record
06/10/2016 by Richard
Russian oil output rose by nearly 4% in the month of September – the equivalent of 11.11 million barrels per day – breaking a new record for post-Soviet output levels. The figure is expected to
Maersk to divide and concentrate on North Sea operations
05/10/2016 by Richard
Maersk, the family-owned shipping giant based in Copenhagen, is going to be split, with its energy interest focusing more closely on the North Sea. The company, which was