OIL - AFRICA DAILY

Norway's Statoil aims to boost local energy sector

Mar 17, 2017 (UPI)

Norwegian energy company Statoil said it was working to build up the domestic workforce through a contract to upgrade a platform for North Sea development. Stat...

Saudi Arabia takes wait-and-see approach to U.S. oil

Mar 17, 2017 (UPI)

Saudi Arabia's oil minister told Bloomberg News that, as the de facto head of OPEC, a wait-and-see approach was good policy on recovering U.S. oil. The Organiza...

Alberta pegs economic hope to Canadian coastal pipeline

Mar 17, 2017 (UPI)

In outlining a budget for oil-rich Alberta, the finance minister said building pipelines to the Canadian coast is the "best way" to sell its energy resources. A...

South Sudan buys weapons during famine: UN report

Mar 17, 2017 (AFP)

South Sudan's government is spending oil revenue on weapons as the country descends into a famine largely caused by President Salva Kiir's military campaign, a ...

Enthusiasm holds to give oil prices another life

Mar 17, 2017 (UPI)

Crude oil prices posted modest gains early Friday as traders saw some optimism in emerging supply data, though exploration figures could weigh on the rally. Cru...

Oil and gas exporter Norway keeps policy rate static

Mar 16, 2017 (UPI)

A main oil and gas supplier to the European economy, the central bank in Norway said Thursday it was keeping its policy rate stable as recovery takes hold. Norg...

Russia's Lukoil backs OPEC production cut extension

Mar 16, 2017 (UPI)

It's reasonable to give serious consideration to extending a production agreement led by OPEC, the head of Russian oil company Lukoil said Thursday. Russia is c...

DNO turns a profit on Kurdish assets

Mar 16, 2017 (UPI)

With a strong focus on the Kurdish north of Iraq, Norwegian oil company DNO said it posted a $6 million profit last year on lower costs and better payments. DNO...

Oil prices inching back toward mid-$50 range

Mar 16, 2017 (UPI)

Crude oil prices continued to inch back Thursday toward its narrow band for the year to rally after a U.S. rate hike and signs of easing supply-side strains. Th...

Saudi king's China trip nets agreements 'worth billions'

Mar 16, 2017 (AFP)

China and Saudi Arabia signed agreements potentially worth tens of billions of dollars on Thursday, Beijing said, as President Xi Jinping welcomed Saudi King Sa...

Oil production ongoing in Libya, OMV says

Mar 15, 2017 (UPI)

A spokesperson for Austrian energy company OMV said oil production in Libya is ongoing and the opportunity for gains is expected this year. Libya is one of the ...

Crude oil prices hot out of the gate Wednesday

Mar 15, 2017 (UPI)

Crude oil prices offset several sessions of steep declines with an early Wednesday morning rally on reports of a surprise draw on U.S. crude oil inventories. In...

How Trump's trip to Michigan will pan out for fuel and efficiency

Mar 15, 2017 (UPI)

As President Trump heads to Michigan on Wednesday to roll out relaxed vehicle emissions and fuel standards, debates began early over the potential results. The ...

Be patient on oil market balance, IEA says

Mar 15, 2017 (UPI)

There's nothing shocking in the steady build of crude oil inventory levels and those waiting for the market to balance out should be patient, the IEA said. The ...

Total starts production in deep Congolese waters

Mar 15, 2017 (UPI)

French supermajor Total said it started production at a deep-water prospect off the Congolese coast with a production capacity of 100,000 barrels per day. "Moho...

Moody's: Shaky economic ground for some oil exporters

Mar 15, 2017 (UPI)

The economic footing of Persian Gulf nations is under pressure from the decline in crude oil prices that began three years ago, Moody's Investors Service said. ...

Germany's E.ON next to turn face to low-carbon future

Mar 15, 2017 (UPI)

German energy company E.ON said Wednesday it's been able to free itself from past burdens and was positioned for growth in a "new energy world." The company sai...

Russia reacts to steep drop in oil prices

Mar 14, 2017 (UPI)

The dramatic drop in crude oil prices is in large part because of "aggressive" output in the United States, but OPEC still factors in, a Russian minister said. ...

Drop in crude oil prices keep U.S. gas prices low

Mar 14, 2017 (UPI)

A drop in crude oil prices was a relief for U.S. consumers who saw retail gas prices drop in kind, but the relief may be short-lived, a market analysis finds. M...

Production gains seen in some OPEC members

Mar 14, 2017 (UPI)

Secondary sources reporting to OPEC said member states operating outside a production deal increased production last month by more than 80,000 barrels per day. ...