Shale executive claims US soon to be top oil producer
27/06/2018 by OilStoreAdministrator
The US could be the world’s top oil producer by the autumn according to Scott Sheffield, the chairman of the major shale producer Pioneer Natural Resources. Speaking to CNN Money, Sheffield says he expects US…
Russia and Saudi Arabia raise oil production in run up to OPEC meeting
18/06/2018 by OilStoreAdministrator
Both Russia and Saudi Arabia, two of the world’s biggest oil producers, have loosened the taps on oil production ahead of the next OPEC in Vienna on June 22. It is widely anticipated that the…
US asks OPEC to boost oil production
12/06/2018 by OilStoreAdministrator
Bloomberg, quoting sources familiar with the matter, reports that the US Government has made a subtle request from OPEC to increase oil production by a million barrels per day (bpd). While US politicians often criticize…
Oil price dips on record US oil production
09/06/2018 by Richard
The price of Brent crude dipped on Monday June 4 to $75.53 a barrel before recovering most of its losses to trade at over $76 a barrel by lunchtime in the UK. The move was…
ExxonMobil buys into Pakistan’s offshore drilling
06/06/2018 by OilStoreAdministrator
Energy company ExxonMobil, which also makes extreme pressure gear oils like Mobilgear 600 XP 68, has acquired a 25% stake in offshore drilling in Pakistan. Prior to the acquisition, Italian energy firm Eni, Oil and…
ExxonMobil targets emission reductions
03/06/2018 by OilStoreAdministrator
ExxonMobil, the energy giant behind Mobil UK stockists, has set itself new targets for reducing emissions from its upstream operations. Compared with 2016 levels, the company says it will reduce its methane emissions by 15%…
How ExxonMobil is using algae to produce oil
01/06/2018 by Mark
ExxonMobil, the oil major behind Mobil-branded lubricants, has a broad research portfolio when it comes to biofuels. It believes some fundamental breakthroughs in
Russia and Saudi Arabia edge toward easing production caps
30/05/2018 by Richard
There are increasing signs that Russia and Saudi Arabia are moving closer to relaxing the OPEC-led production caps that have been in force since the start of
Researchers announce new method for making biofuel
24/05/2018 by Mark
Researchers at the University of Turku in Finland have announced that they have found a new efficient way to use algae to make biofuel. In the new method, the algae uses solar energy to split…
Profits rise at ExxonMobil
06/05/2018 by Richard
ExxonMobil, the energy giant behind Mobil UK distributors, showed a 16% year-on-year rise in profits after posting its first-quarter earnings. The company’s share price dipped slightly, though, amid perceptions that the profit rise had not…
ExxonMobil looks for quick output from Guyana
03/05/2018 by Mark
ExxonMobil is looking for a quick return on its investment in the tiny South American country of Guyana amid claims from the IMF that its contract was “favourable” to the oil giant. ExxonMobil, which in…
What ExxonMobil learned from analysing oil samples
02/05/2018 by Richard
Any good maintenance strategy should consider using used oil analysis (UOA), so operators can make informed decisions about when to make costly interventions such as