OIL - AFRICA DAILY

Feb 29, 2016 (UPI)

Though output was enough to satisfy export demands, Russian energy company Gazprom said its production for 2015 was less than the previous year. Gazprom CEO Ale...

Oil prices up on Saudi market pledge

Feb 29, 2016 (UPI)

A pledge Monday from Saudi Arabia to work with fellow producers to achieve market stability gave momentum to an emerging rally in crude oil prices. The Saudi Ca...

Oil spill emergency in Peruvian native communities

Feb 28, 2016 (AFP)

Peru's government declared a state of emergency in 16 Amazon rainforest communities Sunday due to oil spills in the northeastern Loreto region. The measure, ann...

Opposition building against Atlantic drilling

Feb 26, 2016 (UPI)

Opposition to a lease plan for the U.S. waters of the Atlantic grew after Virginia said it wanted to be left out of any future drilling plans. Virginia Lt. Gov....

Oil prices posting heavy gains

Feb 26, 2016 (UPI)

Crude oil prices skyrocketed in early Friday trading following an upward revision in U.S. economic growth, fueling momentum sparked by production talks. A weak ...

Oil hopes fade offshore Congo

Feb 26, 2016 (UPI)

Central African oil player SOCO International said it came up empty-handed while drilling in the waters off the coast of the Republic of Congo. SOCO in early Fe...

Italy's Eni lowers oil forecast

Feb 26, 2016 (UPI)

Italian energy company Eni said Friday it recorded a loss in the fourth quarter and was lowering its outlook for crude oil prices in its plans for the year. Ita...

Potential for Texas LNG export facility building

Feb 26, 2016 (UPI)

Australian gas leader Woodside said it was wading into the growing liquefied natural gas sector in the United States with an agreement to tap Texas port develop...

Halliburton cuts staff on market weakness

Feb 26, 2016 (UPI)

An 8 percent cut in headcounts at Halliburton is a result of a weak energy sector and not an adjustment ahead of the Baker Hughes merger, a spokeswoman said. "D...

BP laying groundwork offshore Egypt

Feb 26, 2016 (UPI)

Danish engineering company Subsea 7 said it was awarded a contract to help BP develop three gas fields, including laying export lines, off the coast of Egypt. F...

BASF sees further challenges from China, oil price this year

Feb 26, 2016 (AFP)

BASF, the world's biggest chemicals company, said Friday that slowing growth in China and falling oil prices will remain its biggest challenges this year after ...

First U.S. LNG cargo sets sail

Feb 25, 2016 (UPI)

The first cargo of liquefied natural gas sourced from inland shale basins in the United States is on its way to Brazil, shipping monitors confirmed. Shipping mo...

Transocean sees trouble ahead

Feb 25, 2016 (UPI)

Spending cuts in energy exploration and production in the medium term is expected to create major headwinds, rig company Transocean said. The company managed to...

Continental Resources calls for patience

Feb 25, 2016 (UPI)

U.S. shale leader Continental Resources reported a net loss for the fourth quarter and said it would trim spending in an effort to return value to shareholders....

Repsol sells British wind energy business

Feb 25, 2016 (UPI)

After cutting investments by 20 percent, Spanish energy company Repsol said it was selling its entire British wind energy business to a Chinese counterpart. SDI...

Nation's largest methane release followed L.A. gas blowout

Feb 25, 2016 (UPI)

Scientists have published a study illuminating the environmental impact of the 2015 Aliso Canyon natural gas well blowout. New data -- published in the journal ...

Crude oil drifts lower on U.S. employment data

Feb 25, 2016 (UPI)

Crude oil prices stumbled out of the gate in morning trading Thursday in New York as U.S employment figures fell, pulling pressure away from the demand side. Th...

Oil-rich Alberta to linger in recession

Feb 25, 2016 (UPI)

The provincial government of Alberta, Canada, said the pressure from lower crude oil prices meant it was facing a budget crisis not seen in roughly 25 years. Al...

Spain's Repsol loses 1.2 bn euros in 2015 due to oil price plunge

Feb 25, 2016 (AFP)

Spain's oil giant Repsol said Thursday it had lost 1.2 billion euros ($1.4 billion) last year after putting aside nearly three billion euros in special provisio...

Oil prices resume slide into red territory

Feb 24, 2016 (UPI)

Crude oil prices moved sharply lower in Wednesday trading after Saudi Arabia's oil minister said there was no chance for a production cut. Saudi Arabia recently...