Putin speaks in favour of oil output freeze
06/09/2016 by OilStoreAdministrator
Russian President Vladimir Putin has commented that an agreement to freeze oil output amongst the world’s biggest oil producers would be the correct call as far as the global oil market is concerned. He also…
US oil falls as reserves swell
03/09/2016 by Richard
Oil prices fell on the morning of September 1, due to growing fears that oil reserves are still way too high globally, along with the neutering effect of a strong US dollar. Brent crude was
ExxonMobil puts six-figure sum towards flood appeal
30/08/2016 by Richard
ExxonMobil, known for its high-quality products like Mobil 1 Racing 4T, has donated $500,000 (£378,000) to the American Red Cross and the Greater Baton Rouge Food Bank, for
China now largest North Sea crude oil operator
27/08/2016 by Mark
China has become the largest crude operator in the North Sea, with one state-owned company believed to be on course
Iraq to increase oil exports following Kirkuk Fields agreement
24/08/2016 by OilStoreAdministrator
The Organization of the Petroleum Exporting Countries second-largest producer, Iraq is set to increase crude oil exports by
Oil moves above $50-per-barrel mark
21/08/2016 by Mark
Oil prices have topped $50 (£38.03), reaching a six-week high in the process, as talk of a freeze on the supply of
Shell and Total set prerequisites for Iran activity
18/08/2016 by OilStoreAdministrator
An official has revealed that Royal Dutch Shell, which produces Shell Tonna S3 M 68, and Total have set a prerequisite that sees them demand 20-25% of any commission from fuel sales, if they are…
Iran starts dispatching Euro 4 compliant oil
15/08/2016 by OilStoreAdministrator
The National Iranian Oil Products Distribution Company recently revealed that Iran has shipped its first batch of Euro 4-compliant gas oil to
Saudi Arabia slashes Asian oil prices to counter big rivals
09/08/2016 by Richard
Due to mounting pressure from Iraqi, Russian and Iranian oil exports, Saudi Arabia recently discounted its crude oil so that it could maintain its share of major Asian oil markets. The price cut, which will
UK oil and gas to receive £6m investment
05/08/2016 by Mark
The Oil and Gas Authority has bestowed £6m to pay for the study and exploration of UK offshore oil areas. The money, in the form of study contracts, has
Tankers in Britain make it an oil glut capital
03/08/2016 by Richard
The United Kingdom has temporarily become the centre of the worldwide oil glut, as falling demand among refineries has
Oil expected to drop to $40 a barrel again
30/07/2016 by Mark
After oil prices plummeted on Wednesday, July 27, the U.S. Energy Information Administration (EIA) sent shockwaves through