OIL - AFRICA DAILY

Even though Texas improved, total U.S. proved oil reserves held steady

Feb 15, 2018 (UPI)

The United States is on pace to become the largest crude oil producer in the world and its current rate of production of around 10 million barrels per day is ri...

Energy market balance still seems elusive

Feb 15, 2018 (UPI)

Crude oil prices are recovering in early Thursday trading after several sessions of decline. Prices rebounded sharply by Wednesday afternoon when the U.S. Energ...

UN envoy sees possible South Sudan deal from talks in Ethiopia

Feb 15, 2018 (AFP)

The talks that opened on February 5 in Addis Ababa are aimed at finding a settlement to one of Africa's worst conflicts. "We are hoping that there will be some ...

Greek Cypriots link UN peace talks to Med energy search

Feb 15, 2018 (AFP)

Cyprus is embroiled in a standoff with Turkish warships blocking an Italian drillship from exploring for gas in the island's politically sensitive waters. Presi...

Statoil to lead North Sea spending, data show

Feb 14, 2018 (UPI)

A review of capital expenditures in the North Sea from GlobalData, an analytics company, found an average of $19.5 billion annually will be spent on more than 5...

OPEC secretary general speaks of market patience

Feb 14, 2018 (UPI)

A decision by the Organization of Petroleum Exporting Countries last year to offset supply-side strains with coordinated production cuts helped set a floor unde...

Colorado outlines new oil and gas line rules

Feb 14, 2018 (UPI)

Two people were left dead and one person was critically injured after a gas explosion in Firestone, a town in Weld County, occurred when non-odorized gas seeped...

Norway to review oil and gas pension investments

Feb 14, 2018 (UPI)

Norway is one of the world leaders in oil and gas production, sending nearly everything it produces to the European market. The ministry has now formed an exper...

Oil prices pointing toward correction territory

Feb 14, 2018 (UPI)

Crude oil prices have moved considerably lower for most of February, offsetting a steady run higher for most of January. After settling above $70 per barrel las...

SMU study finds earthquakes continue for years after gas field wastewater injection stops

Feb 14, 2018 (SPX)

The seismologists analyzed a sequence of earthquakes at Dallas Fort Worth International Airport and found that even though wastewater injection was halted after...

U.S. export vision extends into Iraqi energy

Feb 14, 2018 (UPI)

The Export-Import Bank of the United States signed a memorandum of understanding with the Iraqi Ministry of Finance meant to improve trade and economic ties bet...

Oxy sees Permian production increase by 15 percent

Feb 14, 2018 (UPI)

At the end of 2017, the company had proven global reserves of 2.6 billion barrels of oil equivalent, of which 58 percent was oil. Of its total reserves, 60 perc...

Donors pledge $30 bn for Iraq reconstruction at Kuwait conference

Feb 14, 2018 (AFP)

Donors had pledged $30 billion by the final day of the international conference, according to host nation Kuwait. "The commitment of the international community...

Cyprus backs EU diplomacy to end energy standoff with Turkey

Feb 14, 2018 (AFP)

"There is intense diplomacy going on behind the scenes, with European states leading this endeavour, and we are expecting today to see results of these efforts,...

BHP takes $1.8B charge on U.S. tax overhaul

Feb 13, 2018 (UPI)

U.S. President Donald Trump signed the Tax Cuts and Jobs Act at the end of December. The measure, which permanently cuts taxes for corporations from 35 percent ...

War-battered Iraq says it's 'open for investors'

Feb 13, 2018 (AFP)

"Iraq is open for investors," declared Sami al-Araji, chairman of Iraq's National Investment Commission, on the second day of a major reconstruction conference ...

Erdogan warns foreign companies over gas drilling near Cyprus

Feb 13, 2018 (AFP)

The growing standoff between Turkey and Cyprus over exploiting energy resources in the eastern Mediterranean risks further complicating stalled efforts to reuni...

IEA: U.S. oil production, exports means shift in trade patterns

Feb 13, 2018 (UPI)

The International Energy Agency said that supply-side strains are easing considerably. At this point last year, the global crude oil inventory sat at 264 millio...

Family of Iran environmentalist demand post-mortem

Feb 13, 2018 (AFP)

"The family has put in a request for a post-mortem," Arash Keikhosravi, lawyer for the family of Iranian-Canadian Kavous Seyed Emami, told the reformist Shargh ...

Egyptian gas momentum picks up with Atoll, Zohr fields

Feb 13, 2018 (UPI)

BP announced gas was being produced from its Atoll basin offshore Egypt, seven months ahead of schedule, less than two years after the initial discovery and 33 ...