OIL - AFRICA DAILY

Credit rating for Italy's Eni downgraded

Mar 24, 2016 (UPI)

Ratings agency Standard & Poor's said it lowered the credit rating for Italian energy company Eni by one notch because of the impact of low oil prices. "We beli...

China wades deeper into Australian gas market

Mar 24, 2016 (UPI)

Australian energy company Santos said it welcomed a proposed Chinese acquisition of a share in its business, noting the strong regional interest in gas. Chinese...

Emirati oil minister to attend April oil production meeting

Mar 24, 2016 (UPI)

The energy minister from the United Arab Emirates said Thursday his country would participate in an April meeting in Doha to consider oil production levels. Rus...

Nepal agrees fuel deal with China to curb reliance on India

Mar 24, 2016 (AFP)

Nepal has secured a deal for China to supply it with fuel, as the energy-starved Himalayan nation seeks to deepen ties with Beijing and reduce its reliance on I...

Iran, Iraq explore non-oil economic ties

Mar 24, 2016 (UPI)

The Iranian government aims to boost its non-oil trade relationship with neighboring Iraq, a visiting delegate said during a trade visit to Baghdad. The officia...

ExxonMobil, Chevron told to allow investor climate votes

Mar 24, 2016 (AFP)

US regulators have told ExxonMobil and Chevron to permit shareholders to vote on resolutions requiring assessments of how climate change policies might affect t...

Few bidders for Gulf of Mexico oil, gas sale

Mar 24, 2016 (UPI)

A lack of interest in new oil and gas acreage for sale in the U.S. waters of the Gulf of Mexico may be indicative of a weak energy market, the government said. ...

Oil prices fade to below $40 per barrel

Mar 24, 2016 (UPI)

A build in U.S. crude oil inventories, coupled with a short-term rise in unemployment, added to negative pressure building on oil prices in Thursday trading. Th...

Rockefeller family lashes out at Exxon Mobil

Mar 24, 2016 (UPI)

The philanthropic arm of the Rockefeller family said the "morally reprehensible conduct" of Exxon Mobil was in part behind a decision to divest from fossil fuel...

U.S. oil states leading in wind power

Mar 23, 2016 (UPI)

Some of the top oil-producing states in the nation are behind a rise in new electricity generated from wind, the U.S. Energy Information Administration reports....

Emirati rig company Lamprell expecting weakness

Mar 23, 2016 (UPI)

Emirati oil rig construction company Lamprell said it was holding up well against the market downturn, but expects full-year 2016 revenue to show a decline. Lam...

Oil falters as widespread strains halt momentum

Mar 23, 2016 (UPI)

Doubts over the impact of a proposal to freeze oil production levels, supply-side pressures and lingering security concerns dealt oil prices a blow Wednesday. C...

Woodside halts Australian LNG project

Mar 23, 2016 (UPI)

Australian energy company Woodside said it was putting a hold on the development of its Browse liquefied natural gas project because of market conditions. Woods...

U.S. shale gas output increasing

Mar 23, 2016 (UPI)

U.S. natural gas production is on the rise, with some reserve areas in the country's Northeast getting more output from fewer wells, an industry report found. "...

Canada retools budget to address oil shocks

Mar 23, 2016 (UPI)

A budget for a Canadian economy under pressure from lower crude oil prices aims to return a sense of optimism for future generations, the finance minister said....

Schlumberger calls for industry rethinking

Mar 22, 2016 (UPI)

The head of Schlumberger, one of the largest oil and gas services companies in the world, said from New Orleans the industry is in need of a strategic makeover....

Oil prices fall after attacks on Brussels

Mar 22, 2016 (UPI)

Economic growth concerns added to pressure from attacks on the European capital to push crude oil prices into negative territory in early Tuesday trading. More ...

Russia pulls 10 millionth barrel of oil from Arctic north

Mar 22, 2016 (UPI)

Russian oil company Gazprom Neft said it reached a milestone with production at its Arctic Prirazlomnoye field with its 10 millionth barrel of oil. "The 10-mill...

Suncor completes acquisition of Canadian Oil Sands

Mar 22, 2016 (UPI)

Canadian companies Suncor and Canadian Oil Sands Ltd. announced their merger was completed under the terms of a hostile offer launched last year. Both companies...

Oil and natural gas boom causes methane emissions to increase

Mar 22, 2016 (SPX)

Like carbon dioxide, methane is one of the most important greenhouse gases. After a period of stagnation around 2000, atmospheric methane concentrations started...