OIL - AFRICA DAILY

Quakes halt LNG production in Papua New Guinea

Feb 27, 2018 (UPI)

More than a dozen people were left dead after the island was hit with a 7.5-magnitude earthquake on Monday. Dozens of aftershocks were recorded Tuesday by the U...

Iraq exported more than 100 million barrels of oil last month

Feb 27, 2018 (UPI)

The Iraqi Oil Ministry reported total exports for January at 108 million barrels, which would be around 3.49 million barrels per day assuming exports occurred e...

Crude oil prices inch lower on supply-side pressures

Feb 26, 2018 (UPI)

Crude oil prices moved higher late last week after Libya declared force majeure over contracts at its Elephant, or El-Feel, oil field following labor strikes. L...

BP may do better than expected

Feb 26, 2018 (UPI)

"We expect improving earnings and cash generation to show through in early 2018 as BP captures higher commodity prices and widening crude spreads," RBC said in ...

Oil-eating microbes are challenged in the Arctic

Feb 26, 2018 (SPX)

Although numerous efforts are put into cleaning up large oil spills, only 15 to 25% of the oil can be effectively removed by mechanical methods. This was the ca...

Japan's INPEX inks agreement for Emirati oil

Feb 26, 2018 (UPI)

INPEX said Monday it was awarded a 10 percent stake in the Lower Zakum play off the coast of Abu Dhabi in an agreement that pushes cooperation with the Abu Dhab...

Spending recovering for offshore developments

Feb 26, 2018 (UPI)

Lower crude oil prices in previous years had dampened the appetite for spending on long-term and costly efforts offshore. With oil prices roughly 80 percent hig...

Iran blames Yemen war on British, US arms exports

Feb 26, 2018 (AFP)

"The Islamic republic of Iran wants an end to the aggression in Yemen by Saudi Arabia," said foreign ministry spokesman Bahram Ghasemi in comments carried by Ir...

Shell: Demand for liquefied natural gas could outpace supply

Feb 26, 2018 (UPI)

The Dutch supermajor said total demand for the super-cooled form of gas has swelled in recent years. Since 2000, the number of supplier nations has doubled, whi...

New funding surfaces for offshore Gambia

Feb 26, 2018 (UPI)

PETRONAS, an abbreviated form of Petroliam Nasional Berhad, was assigned a 40 percent stake each in two petroleum licenses off the Gambian coast. Under the term...

IS kills two policeman in attack on Iraq oilfield

Feb 24, 2018 (AFP)

"A large number of IS terrorists attacked a post of the oil police force near well 43 in the Khabbaz oilfield, killing two and wounding a third," the source tol...

Crude oil prices searching for direction early Friday

Feb 23, 2018 (UPI)

Crude oil prices entered the trading day Thursday under pressure from reports by the American Petroleum Institute and commodity pricing group S&P Global Platts ...

Rusal chief steps down ahead of Norilsk scramble

Feb 23, 2018 (AFP)

Deripaska, who was among the first oligarchs to amass huge wealth in the years following the collapse of the Soviet Union, will make way for CEO Vladislav Solov...

Norwegian oil and gas sector expects investment surge

Feb 23, 2018 (UPI)

Norway is one of the world's leading oil and gas producers and sends nearly all of its production from offshore to the European market, making it the region's t...

Turkey navy forces back Italian drillship: Cyprus

Feb 23, 2018 (AFP)

The drillship from Italy's energy giant Eni has been halted in the island's politically sensitive waters since February 9 when Turkish warships stopped it from ...

Schlumberger and Subsea 7 propose joint venture

Feb 23, 2018 (UPI)

Schlumberger, the largest company of its kind, and Subsea 7 said there were negotiating a joint venture that would build on a Subsea entity formed in 2015 that ...

Mind the gap on oil inventories, analysis finds

Feb 23, 2018 (UPI)

The U.S. Energy Information Administration reported U.S. crude oil inventories declined 1.6 million barrels last week. Analysts and traders are watching invento...

Tensions flare in east Mediterranean gas scramble

Feb 23, 2018 (AFP)

In an area riven by geopolitical feuds the quest for underwater resources has sparked dreams of economic transformation that could bind wary neighbours closer. ...

Democrats call for renewed offshore safety program

Feb 23, 2018 (UPI)

The Department of Interior was called on to continue a study of the Bureau of Safety and Environmental Enforcement's inspection program for offshore development...

Japan confirms oil from wrecked tanker hitting its beaches

Feb 23, 2018 (AFP)

Analysis of samples of heavy fuel that began washing up on remote Okinoerabu and Yoron islands this month found similar components to the fuel used by the Sanch...