OIL - AFRICA DAILY

Oil prices recover on U.S. economy, inventory data

Mar 30, 2016 (UPI)

A soft build in U.S. crude oil stocks was buffered by a report showing domestic well costs have declined, sending oil prices higher early Wednesday. Crude oil p...

Pakistani energy woes impeding growth

Mar 30, 2016 (UPI)

Addressing chronic energy issues is one of the ways in which Pakistan can ensure its economic growth remains on course, the Asian Development Bank said. In a de...

China oil giant Sinopec posts 30% dive in net profit

Mar 30, 2016 (AFP)

Chinese energy firm Sinopec said net profit plunged 30 percent last year as it was hit by the collapse in oil prices, which has sent shockwaves through global m...

Eni seizes Moroccan opportunity

Mar 30, 2016 (UPI)

Italian energy company Eni said Wednesday it took over operations at a frontier area in the deep waters off the coast of Morocco. For an undisclosed sum, Eni to...

BP delivers win to upstream sector

Mar 29, 2016 (UPI)

Norwegian oil services company Aker Solutions said it secured a deal to help British energy company BP advance its global oil and natural gas portfolio. Aker sa...

Oil dealt major blow as supply-side strains persist

Mar 29, 2016 (UPI)

Concerns about U.S. monetary policy moves and ongoing supply-side strains sent crude oil prices plummeting in early trading Tuesday. Industry data show U.S. sto...

Oklahoma's governor defends earthquake response

Mar 29, 2016 (UPI)

Oklahoma's governor defended the state response to the seismic activity attributed to oil and gas development against a federal report on the hazard. "Oklahoma ...

Oil economy of Texas shows mixed success

Mar 29, 2016 (UPI)

Construction tied to the natural gas and renewable energy sectors helped add to contract values in Texas, a report from the Dallas Federal Reserve found. A repo...

Russia's Rosneft to increase 2016 investments

Mar 29, 2016 (UPI)

The head of Russian oil company Rosneft told the president that investments for the year will be 30 percent higher despite the pressure from low oil prices. Rus...

Energy work ongoing in Atlantic, advocacy group says

Mar 29, 2016 (UPI)

With seismic testing tied to the oil and gas sector continuing in the Atlantic, an advocacy group called on Washington to make good on clean-energy pledges. The...

Computer simulation discloses new effect of cavitation

Mar 29, 2016 (SPX)

Researchers have discovered a so far unknown formation mechanism of cavitation bubbles by means of a model calculation. In the Science Advances journal, they de...

Refinery maintenance pushing gas prices high

Mar 29, 2016 (UPI)

Ongoing preparation for the processing of a summer blend of gasoline is behind the steady increase in retail gasoline prices, analysis finds. Motor club AAA rep...

Court deals blow to Israeli offshore gas deals

Mar 28, 2016 (UPI)

The head of one of the companies leading the offshore gas sector in Israel expressed disappointment with a court ruling against a deal with the government. Nobl...

Get house in order, World Bank tells Iraq

Mar 28, 2016 (UPI)

Faced with threats from terrorism and low oil prices, the world community is ready to help, but Iraqis make take initiatives, the U.N. secretary-general said. U...

Seven million Americans threatened by human-induced quakes

Mar 28, 2016 (AFP)

Around seven million people in the United States live in areas at risk of damaging, human-induced earthquakes that are often linked to fracking, a report out Mo...

Analysts critique Trump's stance on oil

Mar 28, 2016 (UPI)

Cutting oil imports from Saudi Arabia would likely cause a temporary spike in U.S. gasoline prices, but harm bilateral ties long-term, market analysts said. Ask...

North Dakota rig activity stabilizing

Mar 28, 2016 (UPI)

The number of rigs engaged in exploration and production activity in North Dakota held steady for the third consecutive week, state data show. The state governm...

Oil prices slightly lower on supply-side strains

Mar 28, 2016 (UPI)

Crude oil prices traded slightly lower early Monday as supply strains built up against expectations of some form of cut from major producers next month. The Ira...

Russia sees Jordanian interest in LNG

Mar 28, 2016 (UPI)

Russian state media reports Monday that gas company Gazprom received word from the government of Jordan it was interested in buying liquefied natural gas. State...

Oil giant PetroChina pumps lowest profit since 1999

Mar 24, 2016 (AFP)

Chinese oil giant PetroChina has posted its lowest profit since 1999 with the company citing a struggling global economy and slump in international oil prices l...