How the oil companies behind your Mobil UK distributor are reducing their environmental impact
02/11/2017 by Mark
While advancements in renewable energy are helping to reduce our dependency on fossil fuels, oil and gas are not going anywhere soon. We still need petroleum products to fuel aviation and most of the transport…
Russia set to raise output in 2018 if no pact extension
30/10/2017 by Richard
Russian Energy Minister Alexander Novak has said that should the deal between OPEC and its non-OPEC partners not be extended, it expects to increase oil production by 3.5 to 4 million tonnes
Industry players believe US shale production yet to peak
27/10/2017 by Mark
A number of delegates at London’s Oil & Money conference have expressed the opinion that the US shale production rebound has not peaked yet, and high production levels will continue for years to come. Most…
US rig count falling but production still rising
15/10/2017 by OilStoreAdministrator
In a sign that the US shale boom may be running out of steam, the US rig count dropped by four in the week ending October 6. There are now 936 oil and
Shell seeks new investors for billion-pound windfarms
12/10/2017 by Richard
The Independent reports unnamed sources as saying that Shell and its partners, Mitsubishi and Dutch energy company Eneco, are seeking to
Libyan oil production set to rise
09/10/2017 by Mark
Bloomberg reports an unidentified source as saying that oil production is set to recover in Libya as its Sharara field restarts. Production was
Chevron to pour $4bn into Permian Basin
03/10/2017 by Mark
Speaking at the S&P Global Platts APPEC conference held in Singapore, Ryan Krogmeier, a senior Chevron executive, has indicated that
Saudi Arabia hints at possible extension to supply cut deal
03/10/2017 by OilStoreAdministrator
Speaking to Reuters on October 26, Crown Prince Mohammad bin Salman of Saudi Arabia signalled his country’s determination to
Shale billionaire points to overly optimistic US production growth
30/09/2017 by OilStoreAdministrator
Speaking to Bloomberg, American entrepreneur and shale oil pioneer Harold Hamm has said that overly optimistic forecasts for US oil
New study claims North Sea oil production is entering its final decade
27/09/2017 by OilStoreAdministrator
Academic research from Edinburgh University has concluded that the UK’s oil industry is now entering its last decade of production. Of the
IEA says oil demand increasing as production cuts bite
24/09/2017 by OilStoreAdministrator
The International Energy Agency (IEA) has confidently expressed that it believes the global demand for oil is growing as the OPEC-led production cuts hold up. Figures for August showed that
Russian government and ExxonMobil settle long-running tax dispute
21/09/2017 by OilStoreAdministrator
The Russian Finance Ministry has announced that it has reached an agreement with ExxonMobil over a $600m tax dispute from 2015. At the time, Rex Tillerson was still CEO before leaving to join the Trump…