OIL - AFRICA DAILY

One missing, 7 injured in rig explosion near US Gulf Coast

Oct 16, 2017 (AFP)

The offshore oil and gas storage facility, located on Lake Pontchartrain in the southern state of Louisiana, near New Orleans, burst into flames early Sunday ni...

Glencore, Qatar finalise Rosneft deal

Oct 16, 2017 (AFP)

The sale would yield about 4 billion euros ($5 billion) plus "the amount of euros arising from the conversion" of $4.6 billion into euros "at a five day average...

Valero awarded $157M fuel contract for Israel

Oct 16, 2017 (UPI)

The contract is designed to be a fixed-price in terms of base cost, but the deal does take into account economic-price-adjustments, so the totality of the contr...

About 30 percent of Gulf oil production still offline because of Nate

Oct 13, 2017 (UPI)

Nate bounced along the southern U.S. border during the weekend, making landfall twice as a Category 1 hurricane. On Monday, the government said about 92 percent...

Geopolitical risk, Asian demand drives oil prices higher

Oct 13, 2017 (UPI)

Crude oil prices see-sawed wildly during the data-heavy week. Economists at the Organization of Petroleum Exporting Countries sparked a rally Wednesday with a r...

Lebanon gets two bids for offshore gas exploration

Oct 13, 2017 (UPI)

Lebanon in January filed a request to join the Extractive Industries Transparency Initiative, a body that aims to cast light on how countries manage their oil, ...

Chevron abandons Great Australian Bight drill plans

Oct 13, 2017 (AFP)

The company had planned to drill exploration wells to look for oil or natural gas after acquiring two deepwater blocks spanning more than 32,000 square kilometr...

Results from a shale oil well in Oklahoma better than expected

Oct 13, 2017 (UPI)

The company said Friday that production from a well in the South Central Oklahoma Oil Province, or SCOOP, was about 40 percent better than initial estimates. Th...

Hiccup clears for Canada's TransMountain pipeline

Oct 13, 2017 (UPI)

The National Energy Board said it received a letter from those planning the expansion of the Trans Mountain that withdrew a request for relief from measures tha...

Oil prices move lower on ceiling warning from IEA

Oct 11, 2017 (UPI)

Traders are watching the balance between supply and demand closely as a market tilted heavily toward the supply side last year sent crude oil prices below $30 p...

Oil prices give tepid response to signs from OPEC on balance

Oct 11, 2017 (UPI)

OPEC said global oil demand is on pace to increase about 1.5 million barrels per day in 2017, an upward revision of around 30,000 barrels per day from the last ...

Shell focusing elsewhere in Brazil after leaving gas distribution partnership

Oct 11, 2017 (UPI)

For $380 million, Shell said it was selling off its 16.8 percent stake in gas distribution company Companhia de Gas de SPounds o Paulo, known also as Comgás, t...

Commitment questions surface over Keystone XL

Oct 11, 2017 (UPI)

Pipeline company TransCanada secured a long-awaited permit from the U.S. government this year to advance its cross-border Keystone XL project to the U.S. Gulf C...

Kurdish oil export payments continue after referendum

Oct 11, 2017 (UPI)

Gulf Keystone Petroleum said Thursday it received a gross payment of $15 million from the semiautonomous Kurdistan Regional Government for oil exported from the...

BNP Paribas says it will no longer back oil

Oct 11, 2017 (UPI)

"We're committed to working with and supporting those energy sector partners who have decided to make environmental issues a central part of their business poli...

McDermott contract to help boost oil offshore Saudi Arabia

Oct 11, 2017 (UPI)

McDermott in its release to the press said work would begin immediately for an unspecified Middle East customer for engineering, procurement, construction and i...

Canadian trade group makes pitch for global edge

Oct 11, 2017 (UPI)

"The upstream oil and natural gas sector can meet world energy demands as long as we can access new customers, manage our costs and maintain investment in our s...

Iranian energy companies lay out investment options in Amsterdam

Oct 11, 2017 (UPI)

Iranian energy companies are among the hundreds attending an annual offshore energy conference in Amsterdam, which wrapped up Wednesday. The Pars Oil and Gas Co...

Tullow sees quick path to production in Ivory Coast

Oct 11, 2017 (UPI)

For an undisclosed sum, Tullow said it was taking a 90 percent stake in four blocks in Ivory Coast from the national oil company, Petroci. Tullow said it planne...

OPEC's oil price forecast near a make-or-break point for U.S. shale

Oct 11, 2017 (UPI)

The Goldilocks scenario refers to a price point that's not so high that it encourages a strong drive in crude oil exploration and production, but not low enough...