OPEC production up despite Iran sanctions
21/10/2018 by Richard
OPEC’s overall oil output rose in September by 132,000 bpd (barrels per day) despite new upcoming US sanctions against Iran, which are already hitting the
Oil prices lower as IMF downgrades growth forecast
18/10/2018 by OilStoreAdministrator
Oil prices dropped sharply following the International Monetary Fund’s (IMF) downgrading of its forecast for global economic growth for both 2018 and
US oil production on track for new heights
15/10/2018 by Mark
The US Energy Information Administration has released its figure for July’s oil production, reaching almost 11 million barrels per day (bpd). This is a
IEA boss calls for increased oil production
12/10/2018 by Mark
Fatih Birol, Executive Director of the IEA, has called for major oil producers to take steps to alleviate concerns over oil supply, which have recently carried oil prices to a four-year high of over $85…
Saudi Arabia boosts oil production
09/10/2018 by Mark
Speaking in Moscow at an energy forum, Khalid al-Falih, Saudi Arabia’s Energy Minister, has indicated that his country is currently producing 10.7 million bpd (barrels per day) of oil and expects to continue this
Russia on track for post-Soviet production record
06/10/2018 by OilStoreAdministrator
Reuters reports a source in the energy sector as saying that Russia is on track to set a new monthly production record for its post-Soviet era. Excluding
Why do so many businesses rely on Mobil oil?
02/10/2018 by Mark
Mobil has been producing industrial oils for over 150 years, with customers based in many countries worldwide and operating in a variety of industries.
ExxonMobil and others join climate change initiative
30/09/2018 by Richard
ExxonMobil, the US oil giant that makes lubricants for Mobil stockists, has officially joined the Oil and Gas Climate Initiative, an organisation set up in 2014 to reduce greenhouse gas emissions from the oil and
OPEC mulls production boost
27/09/2018 by Mark
Reuters is quoting a source as saying that OPEC and its partners are in discussions about a possible 500,000 bpd (barrels per day) production increase to compensate for declining oil supplies from Iran, as US…
US now the world’s top oil producer
21/09/2018 by Richard
The US oil industry has been continually setting new records for oil production, thanks in no small part to the shale revolution. Now, for the first time since 1973, preliminary data from the US Energy…
ExxonMobil to spend £500m on UK refinery
18/09/2018 by Mark
ExxonMobil, the US oil giant behind slideway oils like Mobil Vactra 4, has announced it plans to spend $650m (about £500m) on upgrading its Fawley refinery on the southern English coast. ExxonMobil’s Fawley refinery
Oil production still rising in Texas
12/09/2018 by OilStoreAdministrator
Texas oil production is still rising, according to monthly data from the US Energy Information Administration (EIA). Despite concerns that