OIL - AFRICA DAILY

Higher-for-longer oil prices could hurt the global economy

Jun 11, 2018 (UPI)

The Organization for Economic Cooperation and Development said global economic expansion should be around 4 percent for the year, on par with the long-term aver...

French farmers block refineries over palm oil imports

Jun 11, 2018 (AFP)

Energy giant Total wants to import up to 300,000 tons a year of palm oil, which environmental advocates say has caused massive deforestation chiefly in southeas...

Banned weapons stoke deadly violence in Nigeria

Jun 09, 2018 (AFP)

Boko Haram Islamists, whose insurgency has killed at least 20,000 in the northeast since 2009, have long been reputed to have received weapons smuggled from Nor...

Pope urges oil majors to combat global warming and aid poor

Jun 09, 2018 (AFP)

The Paris Agreement was adopted in December 2015 by 196 nations resolving to limit warming to no more than two degrees centigrade. In a meeting with industry ex...

More oil found in Norwegian waters of the North Sea

Jun 08, 2018 (UPI)

The Norwegian Petroleum Directorate, the nation's energy regulator, confirmed a discovery was made by Equinor in a wildcat well, one drilled in an area not prev...

Equinor boasts of environmental legacy

Jun 08, 2018 (UPI)

The company last month adopted the name Equinor, saying it was moving into the low-carbon economy and abandoning its former nameplate, Statoil. On World Oceans ...

Brazilian oil good for deep-pocketed companies

Jun 08, 2018 (UPI)

Brazil on Thursday held its fourth auction for the rights to bid on four areas outlined in the 1,634-square-mile offering. Three of the areas were snatched up i...

Oil prices slip on G7 trade concerns

Jun 08, 2018 (UPI)

U.S. President Donald Trump left Friday for a summit in Canada for members of the Group of 7 leading industrialized countries. He's expected to leave the summit...

Gazprom gets more permits for Nord Stream 2

Jun 08, 2018 (UPI)

"This is an important milestone for our project," Lars Gronstedt, Gazprom's senior advisor for Nord Stream 2, said in a statement published Friday. Sweden's gov...

Iranian oil production not impacted by sanctions yet

Jun 08, 2018 (UPI)

Commodity pricing group S&P Global Platts said total production from members of the Organization of Petroleum Exporting Countries in May was 31.9 million barrel...

Canadian producer Suncor offers climate assurances

Jun 08, 2018 (UPI)

Suncor said it's completed its $13 billion (USD) overhaul of its Fort Hills facility north of Fort McMurray. "The Fort Hills mega-project has surpassed expectat...

A lack of oil pushes key benchmarks higher

Jun 07, 2018 (UPI)

Crude oil prices moved in volatile territory on Wednesday after the U.S. federal government reported growth in domestic crude oil inventories. Traders, however,...

Oil Search finds new gas in Papua New Guinea

Jun 07, 2018 (UPI)

Oil Search announced Thursday it encountered gas in an appraisal well dubbed Kimu 2. The prospect could be linked to other nearby reservoirs. "Evaluation of the...

Equinor upbeat on oil and the economy

Jun 07, 2018 (UPI)

Equinor, formerly Statoil, published a 67-page report highlighting its forecasts for the global economy and the energy sector. Addressing climate change concern...

OPEC data offers glimpse at GDP impact of production cuts

Jun 07, 2018 (UPI)

Economists at the Organization of Petroleum Exporting Countries published their annual statistical bulletin on Thursday. Reported as gross domestic product at c...

Nigeria's military urged not to add to oil pollution

Jun 07, 2018 (AFP)

Pollution is a constant threat in the Niger Delta but locals say it is not just thieves stealing crude oil from pipelines that criss-cross the region who threat...

The market for LNG is getting tighter

Jun 07, 2018 (UPI)

Chinese economic policy makers are focusing on qualitative growth as the pace of growth in gross domestic product cools. Meanwhile, China is shifting to a low-c...

Putin offers pledges of economic stability

Jun 07, 2018 (UPI)

Russia's economy lingered in recession in 2016 and the national currency, the ruble, declined in value after crude oil prices dipped below $30 per barrel. Oil p...

Kuwait exposed to risk from volatile oil prices

Jun 07, 2018 (UPI)

Early this year, Fitch Ratings found Kuwait's credit strengths were supported by a low-price policy peg for Brent crude oil at $56 per barrel, about $20 per bar...

NATO rejects Qatar membership ambition

Jun 06, 2018 (AFP)

It was responding to a comment by Qatar's defence minister on Tuesday that his country's long-term strategic "ambition" was to join NATO. "According to Article ...