OIL - AFRICA DAILY

Russia's Novatek inks 1.09 bn euro Yamal stake sale with China fund

Mar 15, 2016 (AFP)

Russia's Novatek finalised Tuesday a 1.09-billion-euro ($1.2-billion) deal to sell China's Silk Road Fund a 9.9 percent stake in an Arctic natural gas project w...

Cairn Energy buoyed by reserves offshore Senegal

Mar 15, 2016 (UPI)

Scotland-based oil explorer Cairn Energy said Tuesday its reserve estimate was up modestly because of developments off the coast of Senegal. Cairn said its esti...

Shell starts production offshore Brazil

Mar 14, 2016 (UPI)

Royal Dutch Shell said Monday it started production from the third and final phase of operations in the deep waters off the coast of oil-rich Brazil. "The safe,...

Eni makes Barents Sea breakthrough

Mar 14, 2016 (UPI)

Italian energy company Eni said Monday its start to oil production in the Goliat field is the first in the Norwegian waters of the Barents Sea. Eni started prod...

North Dakota rig count continues to sink

Mar 14, 2016 (UPI)

Despite last week's rally in crude oil prices, North Dakota continued to witness a decline in exploration and production activity, state data show. The state go...

OPEC output falls despite Iran return more crude

Mar 14, 2016 (AFP)

OPEC said on Monday its oil production fell in February despite member Iran steadily increasing its output after international sanctions were lifted in January ...

Four tremors recorded in Oklahoma since Sunday

Mar 14, 2016 (UPI)

Five seismic events were reported by the U.S. Geological Survey in Oklahoma in the last 24 hours as the state works to stem incidents tied to oil and gas work. ...

Iran welcoming to U.S. energy companies

Mar 14, 2016 (UPI)

Energy companies with U.S. headquarters are welcome to do business in Iran, though sanctions may be prohibitive, the country's oil minister said. Iranian Oil Mi...

Oil off on Iran's reluctance to stem production

Mar 14, 2016 (UPI)

Caveats to a proposed freeze in oil production from Iran pushed crude oil prices sharply lower, moving Brent to below $40 per barrel after last week's rally. An...

Cathay Pacific net profit soars thanks to dive in oil prices

Mar 09, 2016 (AFP)

Hong Kong flag carrier Cathay Pacific said net profit almost doubled last year as tumbling oil prices slashed fuel costs and boosted passenger numbers, although...

Crude price gains capped by China

Mar 09, 2016 (AFP)

Oil prices rose Wednesday but renewed concerns over the global economy, in particular weak Chinese growth, capped gains. Around 1130 GMT, US benchmark West Texa...

Shell settles debt with Iran

Mar 08, 2016 (UPI)

Royal Dutch Shell said it was able to pay off its debt to its Iranian counterparts, though that was not necessarily indicative of an imminent market move. "Foll...

Transocean delays rig work

Mar 08, 2016 (UPI)

Offshore rig company Transocean said Tuesday payments and delivery for five new drilling rigs was now delayed following an agreement with its contractor. Transo...

Oil prices drop on weak China data, high supplies

Mar 08, 2016 (AFP)

Oil prices fell Tuesday on weak Chinese trade data and skepticism about the prospects of major petroleum producers agreeing to limit output. US benchmark West T...

S.Africa to start shale gas exploration

Mar 08, 2016 (AFP)

The South African government said Tuesday that exploration for shale gas will begin in the next 12 months, ending years of speculation over the project. South A...

Chevron starts mega-LNG project in Australia

Mar 08, 2016 (UPI)

Chevron said Tuesday it started up its $54 billion Gorgon liquefied natural gas project in Australia, boosting its market prospects for the Asia-Pacific. The Au...

Oklahoma ramps up earthquake response plans

Mar 08, 2016 (UPI)

The Oklahoma state government announced it expanded plans to curb wastewater injection volumes to lower the risk of seismic activity in oil and gas basins. The ...

Clinton, Sanders both say they're wary of fracking

Mar 07, 2016 (UPI)

Both candidates for the Democratic U.S. presidential nomination said they do not support the drilling practice behind the shale oil and gas boom. Former U.S. Se...

Iranian oil headed to Europe

Mar 07, 2016 (UPI)

The Iranian Oil Ministry said Monday a tanker of crude oil was on its way to Europe for the first time since sanctions eased after July's nuclear deal. SHANA, t...

U.S. rig count drops 18 percent

Mar 07, 2016 (UPI)

From January to February, the number of rigs working on exploration and production activities in the United States dropped 18 percent, Baker Hughes reported. Th...