Energy giants bring North Sea megaproject online
30/11/2018 by OilStoreAdministrator
The North Sea oil industry is often thought to be in decline, but a joint venture between BP, Shell, Chevron, and ConocoPhillips has just started producing oil. The Clair Ridge field was
What is oil used for?
29/11/2018 by Mark
More than 80 million barrels per day (bpd) of oil are produced every day around the world. Much of this comes from the big three oil producers – the USA, Russia, and Saudi Arabia –…
IEA chief calls for “common sense” over oil production cuts
24/11/2018 by Richard
Fatih Birol, Executive Director of the International Energy Agency (IEA), has warned that proposed supply cuts by key oil producers may have negative
ExxonMobil begins drilling in the waters of Cyprus
21/11/2018 by Mark
According to the Energy Ministry of Cyprus, ExxonMobil and Qatar Petroleum began exploratory drilling within block 10 of Cyprus’s Exclusive Economic Zone (EEZ) on
Trump criticises potential OPEC cuts
18/11/2018 by OilStoreAdministrator
U.S. President Trump published a tweet on Monday, November 12 expressing a hope that OPEC does not go ahead with production cuts. The same day, Saudi
ExxonMobil posts surprising quarterly profits
12/11/2018 by OilStoreAdministrator
ExxonMobil has surprised Wall Street by posting higher than expected profits and revenue for the third quarter, despite an overall drop in oil and gas production. The oil major, which
ExxonMobil commits $10m to new energy centre
09/11/2018 by OilStoreAdministrator
ExxonMobil has announced its intention to commit $10m (£7.75m) over five years to the Singapore Energy Center, a partnership aimed at the advancement of
What makes hydraulic oil special?
07/11/2018 by Richard
Hydraulic oil is different to regular lubricating oils. Yes, it does lubricate, and many hydraulic oils like Mobil DTE Light can be applied in both hydraulic and
No need to cut oil supplies, says Novak
06/11/2018 by Richard
Speaking in Istanbul, Alexander Novak, Russia’s energy minister, has denied there may be a need to cut or freeze production levels in OPEC countries and
IEA warns top oil producers
03/11/2018 by Richard
The Paris-based International Energy Agency (IEA) has issued a stark warning to some of the world’s leading oil producers to cut down their reliance on energy revenue. The
12 interesting facts about hydraulics
31/10/2018 by Mark
The world would be a very different place without hydraulics and the oils that make them possible, like Mobil DTE Light. Aeroplanes rely on hydraulic systems due
OPEC struggling to achieve oil boost
30/10/2018 by Richard
Reuters reports having seen an internal document prepared by OPEC’s Vienna headquarters for a technical panel. It reveals that it and its partners are facing difficulties in delivering the output increases agreed in