OIL - AFRICA DAILY

Oil prices spike on Syria, Chinese growth

Oct 01, 2015 (UPI)

Positive economic data from China and renewed tensions over the conflict in Syria added positive pressure to crude oil prices at the start of Thursday trading. ...

Statoil researching new energy future

Oct 01, 2015 (UPI)

Norwegian energy company Statoil said it was teaming up with university researchers to steer development of what it says are sustainable energy solutions. Stato...

PBF expands refinery reach to California

Oct 01, 2015 (UPI)

Downstream-focused PBF Energy said it was setting up a subsidiary in part to handle the $537 million California refinery business acquired from Exxon Mobil. PBF...

German, Russian companies swap gas assets

Oct 01, 2015 (UPI)

German energy company BASF said it was exiting the gas trading and storage business after swapping assets with Russian natural gas company Gazprom. BASF, its su...

Crude oil prices rise with exports, U.S. report finds

Oct 01, 2015 (UPI)

Lifting the ban on exporting U.S. crude oil prices could lead to an increase of $2.50 per barrel for domestic producers, a federal report finds. Members of the ...

Eni takes lead in new Mexican oil era

Oct 01, 2015 (UPI)

Italian energy company Eni said it secured a production sharing contract to help develop oil fields off the eastern coast of Mexico. Eni said it won all of the ...

More Kurdish oil than expected, Gulf Keystone says

Oct 01, 2015 (UPI)

Gulf Keystone Petroleum said third-party estimates show recoverable oil reserves in the Kurdish north of Iraq are at least twice as much as initially expected. ...

Chesapeake latest oil price casualty

Sep 30, 2015 (UPI)

U.S. shale player Chesapeake Energy said it was cutting its workforce in order to cope with the long slump in commodity prices. The company, which has headquart...

Iran's cabinet backs draft oil contract outline

Sep 30, 2015 (UPI)

Iran's Oil Ministry said the executive branch has signed off on the general draft outlining contracts for the post-sanctions era for the country. The ministry's...

Fitch gives good grade to Chinese oil company

Sep 30, 2015 (UPI)

Fitch Ratings gave a strong rating to a Chinese oil exploration and production company in part because of low operating costs and focused spending. Fitch Rating...

Crude oil falters on European deflation

Sep 30, 2015 (UPI)

Signs of weakening in the European economy put downward pressure on crude oil prices at the start of trading Wednesday in New York. Brent crude oil was down onl...

TransCanada tries new legal route for Keystone XL

Sep 30, 2015 (UPI)

Pipeline company TransCanada said it was filing an application with state regulators in Nebraska to build Keystone XL, ending a bid to challenge eminent domain....

Halliburton, Baker Hughes extends closing date

Sep 29, 2015 (UPI)

Halliburton and Baker Hughes said they've extended the timing of the earliest close of their merger by three weeks to Dec. 15. The companies in a joint statemen...

Spain seeks to overturn Prestige tanker spill acquittals

Sep 29, 2015 (AFP)

Spain's state prosecutor on Tuesday asked the Supreme Court to overturn a lower court's decision to acquit three men over the 2002 Prestige tanker spill, one of...

Industry praises Shell's arctic safety record

Sep 29, 2015 (UPI)

Despite disappointing results for Shell in arctic Alaskan waters, industry leaders say the $7 billion campaign was a success in terms of safe operations. Royal ...

AAA: Refinery issues throttling gas price slide

Sep 29, 2015 (UPI)

Though U.S. refineries are making a blend of gasoline that's cheaper to produce, maintenance issues are keeping consumers prices elevated, AAA said. The motor c...

Crude oil prices rally on expected output cuts

Sep 29, 2015 (UPI)

Expectations that U.S. crude oil production will continue to decline gave a lift to oil prices in early Tuesday trading despite lingering market pessimism. The ...

Kazakhstan: No changes on Kashagan

Sep 29, 2015 (UPI)

There are no changes in the operational plans for the giant Kashagan oil field off the coast of Kazakhstan, the country's deputy energy minister said. Kazakh De...

Final leg of new European gas line completed

Sep 29, 2015 (UPI)

Norwegian energy company Statoil said the last stretch of a 300-mile natural gas pipeline crossing the Arctic Circle has been completed. The final piece of the ...

Texas oil production holds steady

Sep 28, 2015 (UPI)

Though drilling permits are on the decline, Texas crude oil production held more or less steady month-to-month, state data for July show. The Railroad Commissio...