OIL - AFRICA DAILY

Dec 29, 2016 (UPI)

Offshore Norway continued its trajectory for expanded oil and gas exploration work, with the government signing off on two new programs. Norwegian energy compan...

Divestment streak for Petrobras continues

Dec 29, 2016 (UPI)

Brazil's state-run oil company said it closed on the sale of a refinery on the Japanese island of Okinawa as its divestment streak continues. State-run Petroleo...

Russian banker says economy can handle $45 per barrel oil

Dec 28, 2016 (UPI)

There will be few pressures on the Russian economy so long as the price for crude oil stays above $45 per barrel, the head of one of Russia's largest bank said....

Iran: There are no guarantees with OPEC

Dec 28, 2016 (UPI)

Following an announcement regarding an increase in oil production, Iran's oil minister said there are no guarantees an OPEC production ceiling will be enforced....

Kuwait to start importing gas from Iraq: ministers

Dec 28, 2016 (AFP)

Kuwait is set to begin importing up to 200 million cubic feet of gas daily from neighbouring Iraq, oil ministers from the two Arab nations said after talks on W...

New production starts in Norwegian waters

Dec 28, 2016 (UPI)

German energy company Wintershall said Wednesday it was claiming a leadership position in Norway with the start of operations in the North Sea. Alongside the ne...

Poland on defense against Russian gas supplier

Dec 28, 2016 (UPI)

A Polish natural gas company said it would use any means necessary to ensure its energy sector is secured from the domination of Russian suppliers. The Polish c...

Eni gains stronger position in Egypt

Dec 28, 2016 (UPI)

Italian energy company Eni said it continued its track record of success in the Mediterranean Sea by securing two new agreements in an Egyptian auction. Eni sec...

Iraq commits to OPEC cuts, sends oil prices higher

Dec 28, 2016 (UPI)

Crude oil prices edged higher in early trading Wednesday in thin volumes amid expectations OPEC will hold the production line, though doubts persist. Members of...

Russian oil company says production is up

Dec 27, 2016 (UPI)

As supply-side issues weigh on oil markets, Russian oil producer Gazprom Neft said its production for the year was up more than 7 percent from 2015. The company...

Iran sees foreign investors flocking to energy sector

Dec 27, 2016 (UPI)

Iran is drawing in more foreign investors eager to renew work in the energy sector because of the low cost of doing business, a corporate director said. The Nat...

OPEC-fueled oil price rally means higher gas prices

Dec 27, 2016 (UPI)

U.S. retail gasoline prices continued moving higher as the year winds down, but some relief may come with the start of the new year, AAA reports. The motor club...

Turkey opens new LNG terminal

Dec 27, 2016 (UPI)

French energy company ENGIE said it was building its European footprint in the liquefied natural gas market with the opening of a new terminal in Turkey. Turkis...

Putin: We're not a member of OPEC

Dec 23, 2016 (UPI)

Russia's president said his country would meet its obligations in terms of crude oil production, but stressed Friday that Russia is not a member of OPEC. Russia...

Libyan oil boss in Cairo after production gains

Dec 23, 2016 (UPI)

After boasting of gains in oil production this week, the chairman of a Libyan oil company discussed how Egyptian companies could work in the country. Mustafa Sa...

More reserves uncovered offshore Norway

Dec 23, 2016 (UPI)

After reporting production gains, the Norwegian government confirmed a discovery Friday of at least 25 million barrels in its waters of the North Sea. The Norwe...

Russian oil company starts new work in Serbia

Dec 23, 2016 (UPI)

A Russian oil company said its division in Serbia has opened up a new reserve area with the goal of moving from drilling to development next year. Gazprom Neft ...

U.S. leaders question need for Strategic Petroleum Reserve

Dec 23, 2016 (UPI)

Members of a House energy panel said they wanted a federal investigation into whether or not the nation's Strategic Petroleum Reserve should be maintained. The ...

Next U.S. Gulf of Mexico lease sale will be online

Dec 23, 2016 (UPI)

The next lease sale planned by the U.S. government for oil and gas reserves in the Gulf of Mexico will be streamed live on the Internet, an agency said. On Marc...

Oil prices dip in pre-Christmas trading

Dec 23, 2016 (UPI)

Lingering supply-side strains and traders looking for quick profits as the year draws down pushed crude oil prices into negative territory early Friday. Trading...