Mexico opens oil fields to private firms in bid to boost production
04/09/2014 by OilStoreAdministrator
Mexico’s government is to end the monopoly of its national oil firm Petróleos Mexicanos, or Pemex, allowing private companies access to the lion’s share of its prospective oil resources. The Government hopes that
Shell's US restructuring aims to provide stable future
20/08/2014 by Mark
The international oil company Royal Dutch Shell recently disclosed that it plans to restructure its business in North America in order to reduce costs. Shell will sell two of its
Exxon Mobil profits soar although production falls
06/08/2014 by Richard
The biggest gas and oil company in the US, Exxon Mobil, has experienced a large increase in its profits after recently cutting its spending on exploration and capital. The company has stated that
Shell makes third large oil discovery in Gulf of Mexico
23/07/2014 by Richard
The global fuel giant Royal Dutch Shell recently announced that it had found large amounts of oil equivalent in the Gulf of Mexico. The company’s Rydberg exploration well is
ExxonMobil lubricant R&D group marks centenary
25/06/2014 by Richard
The Equipment Builder Group, set up by ExxonMobil with the aim of improving the performance of machinery used in the food and drink industry, is celebrating a total of 100 years of innovation. The Group…
Upturn in fortunes expected for lubricant manufacturing industry
11/06/2014 by OilStoreAdministrator
The research firm IBISWorld recently updated its report on the lubricant industry, forecasting that the sector’s revenue should increase strongly as economic growth takes hold over the next few years. This is expected to happen…
Fuchs extends its range as it acquires South African lubricant firms
28/05/2014 by Mark
The well-known German lubricant producer, Fuchs Petrolub SE, recently announced that it is to buy two sister South African lubricant companies, known as Lubrasa and Lubritene. Lubrasa produces
Oil prices fail to rise despite Ukraine tensions
20/05/2014 by OilStoreAdministrator
During the first week of May, oil prices decreased in spite of the increasingly difficult situation in Eastern Europe. Ukraine is crucially important as a