OIL - AFRICA DAILY

Aug 07, 2017 (UPI)

Australian energy company FAR Ltd. and British company Cairn Energy, the operator, said they've discovered oil at the so-called Sirius Prospect in waters just t...

Third gas discovery declared off the coast of Myanmar

Aug 07, 2017 (UPI)

The company said it made its third natural gas discovery since early 2016 at the Southern Rakine basin off the coast of Myanmar. Dubbed Pyi Thit-1, the company ...

Venezuela's military: Key things to know

Aug 06, 2017 (AFP)

Maduro in turn has granted it vast powers, not just in military matters but over key government ministries -- active or retired officers head 12 of 32 ministeri...

Platts: OPEC balancing act is starting to wobble

Aug 04, 2017 (UPI)

The Organization of Petroleum Exporting Countries and a handful of non-member producers like Russia are coordinating to offset the supply-side strains that push...

Kuwait ships first batch of oil to refinery in Vietnam

Aug 04, 2017 (UPI)

Ghanem al-Otaibi, a vice president at Kuwait Petroleum International, was on hand for the first shipment to the $9.2 billion Nghi Son refinery. The batch of 2 m...

Iraqi oil wealth not enough for broad economic growth

Aug 04, 2017 (UPI)

Moody's gave Iraq a Caa rating, its third lowest. Entities rated Caa are exposed to "very high" credit risks. The report, emailed to UPI on Friday, found Iraq w...

Seismic events strike shale-rich Oklahoma for second day

Aug 04, 2017 (UPI)

Four tremors were reported as of 5:45 a.m. EDT by the USGS, the largest of which was a magnitude-3.3 event about three miles outside the town of Edmond. At leas...

Dallas Fed: Oil prices and exploration activity diverge

Aug 04, 2017 (UPI)

West Texas Intermediate, the U.S. benchmark for the price of oil, was trading at around $48.60 per barrel early Friday, a downturn from its recent high-water ma...

U.S. labor balances OPEC supply strains to leave oil prices even

Aug 04, 2017 (UPI)

The U.S. Labor Department reported non-farm payrolls increased by 209,000 last month and hourly earnings in the same broad sector increased 9 cents to $26.36. "...

Several earthquakes strike shale-rich Oklahoma

Aug 03, 2017 (UPI)

The largest of the tremors recorded by the USGS was a magnitude-4.2 event shortly before 3 a.m. local time in the town of Edmond, which is designated in a state...

Demand factors lift crude oil prices higher

Aug 03, 2017 (UPI)

Private payroll processor ADP reported Wednesday that private sector employment increased from June to July by 178,000, with the services sector far outpacing m...

Enbridge: Michigan, North Dakota pipelines working as planned

Aug 03, 2017 (UPI)

Second quarter net income was $92.6 million, up 10 percent from the same period last year. For the six months ending June 30, the company reported net income of...

Poll: Shale drilling a new concept to the British public

Aug 03, 2017 (UPI)

Cuadrilla Resources said the drilling rig used to tap wells at a shale basin in Lancashire arrived at its destination in late July. The industry is in its infan...

Wood Group, Amec Foster Wheeler merger under scrutiny

Aug 03, 2017 (UPI)

Wood Group announced plans in March to purchase AMEC Foster Wheeler for $2.6 billion in a move that will combine two of Britain's largest energy services compan...

Repsol suspends oil project in disputed sea off Vietnam

Aug 03, 2017 (AFP)

Vietnam and China have long traded barbs over competing claims in the strategically important waterway, through which $5 trillion in trade passes annually. Tens...

Iran making pipeline strides

Aug 02, 2017 (UPI)

Iranian Energy Minister Bijan Zangeneh was on hand for a ceremony for the launch of the Damghan-Neka natural gas pipeline for the customers in the isolated nort...

Azeri oil exports moved higher in July

Aug 02, 2017 (UPI)

The State Oil Co. of Azerbaijan Republic reported total July exports from two ports of 13.2 million barrels. Exports reported from three ports in June were 12.9...

Europe mulling its options with Venezuela

Aug 02, 2017 (UPI)

The U.S. Treasury Department hit Carlos Erik Malpica Flores, the former vice president for finance at state oil company Petroleos de Venezuela, known also as PD...

Russian oil producer highlights Asian reach

Aug 02, 2017 (UPI)

The Vietnamese subsidiary said it was marking 15 years of operations offshore Vietnam. Though a dominant player on the global energy stage, and one of the top e...

Strong performance for Norwegian oil player, Lundin

Aug 02, 2017 (UPI)

"The quarter was characterized by strong production at low cash operating cost, solid operating cash flow generation, good progress on development projects and ...