OIL - AFRICA DAILY

Jun 20, 2016 (UPI)

U.S. oil major Marathon said Monday it spent $888 million to acquire a rival that has a strong portfolio in the shale oil basins of Oklahoma. Marathon Oil Corp....

Oil rally continues into Monday

Jun 20, 2016 (UPI)

Crude oil prices shrugged off concerns about the health of the Japanese economy and lingering European woes to carry a streak into a second day Monday. Crude oi...

China's Sinopec seeks $5.5 bn in Repsol arbitration

Jun 17, 2016 (AFP)

Chinese energy firm Sinopec is demanding around $5.5 billion (4.9 billion euros) in arbitration from Spanish energy giant Repsol over a North Sea oil and gas fi...

Hungary's MOL continues streak in Pakistan

Jun 17, 2016 (UPI)

Hungarian energy company MOL said Friday it made a new discovery of oil and gas in Pakistan, bringing the total there so far to an even dozen. Operating through...

U.S. consumer demand for gasoline high

Jun 17, 2016 (UPI)

With gasoline prices still below what they were last year, U.S. consumer demand moved higher by about 2 percent, an industry report said. In its monthly market ...

Plains gets new order for Refugio oil spill

Jun 17, 2016 (UPI)

Plains All American must install a range of safety features on the oil pipelines that soiled a California beach before a restart, a U.S. regulator said. In an 1...

Recession in Russia is more or less over, Putin says

Jun 17, 2016 (UPI)

Even though oil prices remain low compared with 2014 levels, the Russian economy has adapted and is the path toward growth, the president said. "We are essentia...

Oil snaps seven-session losing streak

Jun 17, 2016 (UPI)

Crude oil prices moved higher in early Friday trading, though much of that may be a corrective action following a seven-day losing streak. The price for Brent c...

Giant sinkholes near West Texas oil patch towns are growing - as new ones lurk

Jun 17, 2016 (SPX)

Residents of Wink and neighboring Kermit have grown accustomed to the two giant sinkholes that sit between their small West Texas towns. But now radar images ta...

Norway's oil production declines from April

Jun 17, 2016 (UPI)

Crude oil production from Norway came in lower in May than for April, but was still up 2 percent year-on-year, government data released Friday show. The Norwegi...

Houston facing recessionary strains from low oil price

Jun 17, 2016 (UPI)

Lingering strains for a weak oil economy means the Texas city of Houston may be on the brink of recession, a report from a federal reserve bank said. Houston ho...

Oil prices continue steady drift away from $50

Jun 16, 2016 (UPI)

Crude oil prices extended their losses in early Thursday trading after the International Monetary Fund warned global economic growth was lopsided. Oil prices mo...

Iran to build oil terminal with China

Jun 16, 2016 (UPI)

A $550 million contract with a Chinese partner envisions the construction of a new oil loading terminal in the Persian Gulf, Iranian media reported. The semi-of...

Climate consequences of oil price uncertainty could be significant

Jun 16, 2016 (SPX)

Sustained high (US$110-120 per barrel) or low (US$40-55 per barrel) oil prices could have an important impact on future carbon dioxide emissions, according to a...

Niger Delta Avengers bombs another pipeline

Jun 16, 2016 (UPI)

The assault on oil installations in the Niger Delta continued Thursday with a group taking credit for blowing up a pipeline run by a national oil company. At 4:...

North Dakota oil output falls 6 percent

Jun 16, 2016 (UPI)

The decline in crude oil prices is the primary reason that production from North Dakota shale basins fell 6 percent, a state regulator said. The North Dakota In...

Canadian gas exports expected to drop

Jun 16, 2016 (UPI)

Even with the addition of exports of liquefied natural gas, exports from Canada are expected to drop off substantially in the years ahead, a regulator said. Can...

Devon Energy sells Texas assets to boost production

Jun 16, 2016 (UPI)

For nearly $1 billion, U.S. shale oil player Devon Energy said it sold some of its Texas assets in an effort to build output from core parts of its portfolio. D...

Ukraine gas networks costly, Gazprom says

Jun 16, 2016 (UPI)

It will be less expensive for Russian natural gas to move through a pipeline system in the Baltic Sea than through Ukraine, a Gazprom official said. Europe gets...

UK law firm faces payout over missing Trafigura compensation

Jun 16, 2016 (AFP)

Thousands of people due payouts over the dumping of toxic waste by oil-trading group Trafigura in Ivory Coast won their English High Court claim against their l...