Guyana sees first offshore oil production
02/01/2020 by OilStoreAdministrator
The vast oil reserves offshore of Guyana were first found in 2015, but December 20 marked a historic milestone as
Does oil come from dinosaurs?
31/12/2019 by Richard
There is a fairly widely held belief that oil comes from dinosaurs, but are fossil fuels really the remnants of these prehistoric beasts? Is oil being made from dinosaurs an idea with any basis in…
IEA predicts oil surplus in 2020
30/12/2019 by Mark
Despite OPEC+ recently deepening its production cuts, combined with further voluntary cuts from Saudi Arabia, the International Energy Agency (IEA) predicts in its latest report that an oil glut will be inevitable in 2020. Part…
How oil is formed and what it is made from
29/12/2019 by OilStoreAdministrator
Upon thinking of oil, we might picture a thick, dark coloured, viscous and slightly sticky liquid. Most people are aware that oil is a fossil fuel, and that is comes from under the Earth’s surface,…
Brighter outlook for oil production in Alberta
28/12/2019 by Richard
The Conference Board of Canada (CBoC) predicts that oil production in the oilsands of Alberta may soon start a period of consistent growth. The government of Alberta previously
How oil is used within the food industry
27/12/2019 by Richard
When you think of oil and food, you might at first consider foods that contain oil. However oil means so much more in terms of food production than that. Oil is widely used in food…
Russian oil production may exceed 12 million bpd by 2035
26/12/2019 by OilStoreAdministrator
According to a forecast from Lukoil, the second-largest oil producer in Russia, the country’s combined condensate and oil production may surpass 12 million barrels per day (bpd) by 2035 if global demand continues to grow.…
Shell launches new platform for used oil analysis
24/12/2019 by Richard
Shell Marine, the shipping-oriented arm of oil giant and lubricant manufacturer Royal Dutch Shell, has launched its new next-generation digital platform for used oil analysis. The service has been planned and
Uses of oil within agriculture
23/12/2019 by Mark
Food supply in both the UK and overseas is very much dependent on oil. In part, this is due to the oil used in food processing facilities, but it is also down to the fact…
North Dakota achieves record oil production
22/12/2019 by Mark
Most people probably think about the Permian Basin of Texas and New Mexico when it comes to US shale oil production. North Dakota is also experiencing its own oil boom, though, with its Department of…
ExxonMobil returns to NHRA racing
20/12/2019 by OilStoreAdministrator
After more than two decades of absence, ExxonMobil is bringing its lubricants back to the 2020 Mello Yello Drag Racing Series of the National Hot Rod Association (NHRA), following an agreement to supply lubricants to…
Plant discovery might mean greener industrial catalysts
18/12/2019 by Richard
At the Brookhaven National Laboratory, part of the US Department of Energy, scientists may have made a discovery that may have implications for developing industrial catalysts, and it is based on a newly discovered function…