ExxonMobil set for major oil discovery in Pakistan
12/08/2018 by Mark
According to comments from Abdullah Hussain Haroon, Pakistan’s Minister for Maritime Affairs and Foreign Affairs, ExxonMobil is on the verge of discovering huge new oil reserves
Scottish oil industry shows signs of recovery
06/08/2018 by Richard
Scotland oil industry is preparing to reverse years of regression, according to the Scottish newspaper Daily Record. The paper quotes port bosses, in
US oil production falls short of forecast
03/08/2018 by Mark
In what has been predicted to be a record-breaking year for US oil production, there is an indication that the recent boom may be faltering. Drillers in
Seven billionaires who made their fortune from oil
03/08/2018 by Mark
Oil is often described as black gold, an essential commodity that drives economic growth. It’s therefore no surprise that many shrewd operators have amassed vast
Texas set to break annual oil production record
30/07/2018 by Mark
The US state of Texas looks likely to shatter its all-time annual oil production record of 1.263 billion barrels from 1972. What’s more, this will be achieved with fewer rigs and workers than a few…
US not producing enough oil for prices to be lowered
27/07/2018 by Mark
The International Energy Agency’s energy markets and security director has testified before the Senate Energy and Natural Resources Committee that the US alone cannot ramp up production enough to have a significant effect on
US to soon become world's top oil producer
24/07/2018 by OilStoreAdministrator
The US is set to become the world’s top oil-producing nation for the first time since the mid-1970s, according the July short-term energy outlook from the
China to invest $250 million boosting Venezuela oil production
12/07/2018 by OilStoreAdministrator
Venezuela’s ailing oil sector may receive a welcome boost through investment from China, according to a report
Confusion ensues as Trump claims two million bpd Saudi production boost
09/07/2018 by Richard
US President Donald Trump has claimed that he has gained assurances from King Salman of Saudi Arabia to increase production by up to two million barrels per
Saudi Arabia planning record oil production
03/07/2018 by Richard
Bloomberg reports sources informed about Saudi Arabia’s output policy as saying that the country is preparing to pump a record-breaking 10.8 million barrels per day (bpd) in July. This would follow the recent OPEC deal…
It’s not all about shale: US offshore oil production
02/07/2018 by Mark
There’s no disputing that shale oil has revolutionised US oil production. It started when producers sought to take advantage of oil prices over $100 by exploiting tight oil formations that would otherwise be uneconomical. When
OPEC reaches deal to increase oil production
30/06/2018 by OilStoreAdministrator
OPEC members at the summit in Vienna have arrived at a deal to increase production by up to a million barrels per day (bpd). Some OPEC members were thought to object to a production increase…