OIL - AFRICA DAILY

Jan 11, 2016 (UPI)

The United States is engaged in battle with global producers to see who can ensure the future demand for crude oil, a Republican senator from North Dakota said....

North Dakota rig count off 3 percent

Jan 11, 2016 (UPI)

The rig count in North Dakota, the No. 2 oil producer in the nation, continues to move lower following a heavy weak of declines in crude oil prices. The North D...

MOL, Gulf Keystone give up Kurdish stake

Jan 11, 2016 (UPI)

After an assessment of the block's potential, Hungarian energy company MOL and its partners gave up their stake in an oil field in the Kurdish north of Iraq. MO...

Oil prices continue slide

Jan 11, 2016 (UPI)

A downbeat assessment of the Chinese economy added fuel to a fire that began last week, dragging crude oil prices lower in early Monday trading. Crude oil marke...

Oil prices slip further on China worries

Jan 11, 2016 (AFP)

Oil prices fell further Monday on persistent worries about China's growth slowdown and a supply glut, but analysts said tensions between producer giants Iran an...

Saudis defend fiscal health

Jan 11, 2016 (UPI)

The Saudi government said Monday its financial house is in order despite the negative pressure exerted by historically low crude oil prices. The Saudi Arabian M...

Feds wade into California gas leak response

Jan 08, 2016 (UPI)

The U.S. government said it was providing technical support to California utility regulators working to stem a leak from a natural gas storage facility. Califor...

Statoil responding to onshore gas leak

Jan 08, 2016 (UPI)

Norwegian energy company Statoil said it was burning off some of the gas while it depressurizes an onshore processing center following a gas leak. All personnel...

Canada gives nod to 40-year LNG export license

Jan 08, 2016 (UPI)

The federal Canadian government said it approved a 40-year export license for liquefied natural gas from a facility set for the shores of British Columbia. The ...

Saudi Aramco mulls IPO

Jan 08, 2016 (UPI)

The world's largest oil company, Saudi Aramco, said Friday it was reviewing the potential to list its shares on the public market for the first time. Officially...

Rig counts down 20 percent

Jan 08, 2016 (UPI)

Oil field services company Baker Hughes said Friday the international rig count for December was down nearly 20 percent from 2014 levels. In its much-watched mo...

Crude oil prices try to recover

Jan 08, 2016 (UPI)

Crude oil prices opened flat to slightly higher to cap off a week of steep declines as Chinese stock markets closed Friday without a hitch. A so-called circuit ...

We've never lost, U.S. tells TransCanada

Jan 08, 2016 (UPI)

Under threat from a TransCanada lawsuit, the U.S. government said it was confident the decision made on the Keystone XL oil pipeline was in line with the law. T...

TransCanada to sue over KXL decision

Jan 07, 2016 (UPI)

TransCanada said it filed legal action against the United States for the rejection of the Keystone XL oil pipeline, arguing it was protecting its investments. O...

Oil prices bruising Norway's energy sector

Jan 07, 2016 (UPI)

Norwegian geoservices company TGS said the weakened crude oil market has taken its toll as fourth quarter revenues fall more than 50 percent from last year. The...

GasBuddy: Another year of low gas prices

Jan 07, 2016 (UPI)

The average price for a gallon of gasoline in the United States is expected to drop in 2016 for the fourth straight year of declines, a market forecast finds. T...

Ukraine challenges Russian gas project

Jan 07, 2016 (UPI)

Ukrainian energy company Naftogaz said it filed an official complaint in Europe, arguing Russian gas pipeline expansion plans would limit competition. Russian e...

Oil short-circuits on Chinese circuit breaker

Jan 07, 2016 (UPI)

A second emergency halt to trading on the Chinese stock market in less than a week sent crude oil prices tumbling further in early Thursday trading. Trading on ...

Shale-rich Oklahoma facing budget crisis

Jan 06, 2016 (UPI)

While emerging as a shale leader in the United States, the governor of Oklahoma said the state is facing 2016 with a major gap in its budget. In a New Year mess...

Market fundamentals driving oil for now, analysis finds

Jan 06, 2016 (UPI)

The glut of oil on the global market is diminishing the prospects that tensions between Iran and Saudi Arabia will cause a spike in oil prices, analysis finds. ...