OIL - AFRICA DAILY

U.S. oil supply, inventories send crude oil prices lower

Mar 08, 2017 (UPI)

Crude oil prices early Wednesday moved sharply lower after an industry group reported a large buildup in inventories, suggesting supply-side pressures remain. C...

Texas energy sector recovery in its infancy

Mar 08, 2017 (UPI)

Energy sector components are aligning to spawn recovery in Texas, the No. 1 oil producer, but it's still early in the expansion, an industry economist said. As ...

Shell approves $7.25B Canadian oil sands sale

Mar 08, 2017 (UPI)

Royal Dutch Shell inked a pair of agreements to sell $7.25 billion worth of undeveloped oil sands interests in Canada to other companies in the country. The mov...

Senegal, North Sea provide boost for Cairn Energy

Mar 08, 2017 (UPI)

Cairn Energy, which has headquarters in Scotland, is primed for growth on the back of North Sea and African developments, its chief executive said Wednesday. Th...

Adapt or die, head of Norwegian energy company Statoil says

Mar 08, 2017 (UPI)

Energy players standing after last year's downturn need to learn the lesson of the past to chart an efficient and low-carbon future, the head of Statoil said. C...

Oil pulled higher by Libyan unrest

Mar 07, 2017 (UPI)

Oil prices moved higher early Tuesday morning as threats to Libyan security balanced against reports that U.S. oil production gains could slow momentum. NATO al...

U.S. rig counts increased in February

Mar 07, 2017 (UPI)

The number of rigs deployed in the United States on average last month was up more than 200 from last year, oilfield services company Baker Hughes reported. Rig...

Low-cost monitoring device uses light to quickly detect oil spills

Mar 07, 2017 (SPX)

Researchers have developed a simple device that can detect an oil spill in water and then pinpoint the type of oil present on the surface. The device is designe...

Gas prices steady, but wild swings reported regionally

Mar 07, 2017 (UPI)

Steady crude oil prices kept U.S. retail gasoline prices in check, though some regions posted major swings on the back of refinery issues, AAA reported. AAA lis...

NATO allies fret over security of Libya's oil

Mar 07, 2017 (UPI)

The escalation of violence in and around the oil installations of Libya are cause for growing international concern, a joint statement from NATO allies said. A ...

British North Sea oil and gas sector still facing headwinds

Mar 07, 2017 (UPI)

Though the region is showing signs of recovery, a British oil and gas trade group said new investments in offshore activity are slow to emerge. A report from th...

More oil progress offshore Senegal

Mar 07, 2017 (UPI)

A Scottish energy company focused on reserves offshore Africa said it's assessing data from a reservoir estimated to hold more than 2 billion barrels of oil. Ca...

OPEC not entirely in compliance with production deal

Mar 06, 2017 (UPI)

While compliance with an OPEC-led agreement to curb production is strong, the way the deal was configured reveals output above a threshold, a survey found. A su...

Austrian energy OMV establishes Russian footprint

Mar 06, 2017 (UPI)

Austrian energy company OMV said it established a new core area in Russia through the acquisition of a minority stake in natural gas assets in Western Siberia. ...

Oil prices face pressure over slowing China

Mar 06, 2017 (UPI)

Crude oil prices drifted lower early Monday after China lowered its economic growth estimate and U.S. exploration and production activity gained further ground....

Russia defers questions on Crimean oil and gas

Mar 06, 2017 (UPI)

With Ukraine taking claims of Russian aggression to the international courts, the Kremlin sidestepped questions about possible oil development offshore Crimea. ...

Lundin appraising more prospects in North Sea

Mar 06, 2017 (UPI)

After revising the reserve estimate for a producing field in the North Sea, a division of Lundin Petroleum said it was appraising the latest discovery. The Norw...

France to encourage banks to work with Iran

Mar 04, 2017 (AFP)

France wants to encourage the "normalisation" of banking relations with Iran to improve economic relations with the Islamic republic, French Economy Minister Mi...

Oil and gas industry notches win with EPA emissions ruling

Mar 03, 2017 (UPI)

An oil and trade group said steps by the Trump administration to ease regulatory burdens on emissions would help ensure American leadership on the energy stage....

Libya rivals battle for key oil region

Mar 03, 2017 (AFP)

Islamist militias on Friday attacked Libya's main oil-production area in the east, prompting the forces of strongman Khalifa Haftar who control it to retaliate ...