OIL - AFRICA DAILY

Mar 31, 2015 (AFP)

Oil prices fell Tuesday as global powers and Iran raced to reach a deal on Tehran's nuclear program that could ease sanctions on the crude producer, adding to t...

Scotland takes energy message to Houston

Mar 30, 2015 (UPI)

Scottish Energy Minister Fergus Ewing said he's taking a message to Texas that his country is a ripe investment destination for the oil and gas industry. "It is...

New Zealand courts oil and gas explorers

Mar 30, 2015 (UPI)

Less than a week after boasting of the renewable energy footprint, the New Zealand government announced the start of an oil and gas drilling auction. "Oil is ou...

Riyadh dancing in new oil market

Mar 30, 2015 (UPI)

Saudi Arabia is forced to react to changing crude oil market dynamics by offering discounts to its potential clients in Asia, Wood Mackenzie said Monday. "Saudi...

North Dakota rig count continues fall

Mar 30, 2015 (UPI)

The number of rigs deployed in oil-rich North Dakota dropped more than 2 percent from last week as spending cuts take their toll on development. North Dakota's ...

Looking to space to quantify natural gas leaks on Earth

Mar 30, 2015 (SPX)

The recent increase in natural gas production could provide a bridge to a lower carbon future because it generates half the carbon dioxide (CO2) of coal when bu...

Oil prices drop on prospect of Iran nuclear deal

Mar 30, 2015 (AFP)

Global oil prices sank Monday as traders mulled a potential deal over key oil producer Iran's controversial nuclear energy programme that could worsen the globa...

Statoil finds more gas offshore Tanzania

Mar 30, 2015 (UPI)

Tanzania may be ripe for future offshore natural gas development, though time is needed for appraisal after the latest find, Norway's Statoil said Monday. Stato...

Fla. lawmakers move polluter-pay oil bill

Mar 27, 2015 (UPI)

With reserves on tap in Latin America, two Florida congressmen introduced a bill that would force companies to pay for oil cleanup on U.S. soil. "Our coastal co...

African Petroleum generates new cash

Mar 27, 2015 (UPI)

African Petroleum said Friday it raised roughly $12 million in a share offering and expects more in an effort to raise cash for its West African operations. Stu...

CNOOC 2014 profit rises despite 'blow' from oil price slump

Mar 27, 2015 (AFP)

Chinese state-owned energy giant CNOOC on Friday said profit climbed over six percent last year as it started a spate of new projects, despite taking a "serious...

U.S. GDP pulls reins on oil prices

Mar 27, 2015 (UPI)

Crude oil prices pulled back Friday from sharp gains triggered by conflict in Yemen as U.S. data show a decline in economic growth in the fourth quarter. The Co...

Alberta revisits energy revenue

Mar 27, 2015 (UPI)

A new budget plan outlined for the provincial government in Alberta moves energy revenues from spending to saving, Premier Jim Prentice said. "It is no longer g...

Transocean prepares for challenges ahead

Mar 27, 2015 (UPI)

Rig services company Transocean is bracing itself for an uncertain and difficult road ahead in the offshore drilling market, its chief executive officer said. T...

Shell takes further steps away from Nigeria

Mar 26, 2015 (UPI)

The Nigerian subsidiary of Royal Dutch Shell said it made further progress in its divestment strategy by selling Niger Delta assets from $1.7 billion. Shell Pet...

U.S.: Schlumberger 'willfully' violated sanctions

Mar 26, 2015 (UPI)

For six years, a division of oil services company Schlumberger "willfully" violated U.S. sanctions against Iran and Sudan, the Justice Department said. "Over a ...

Russia squeezed by sanctions, European leader says

Mar 26, 2015 (UPI)

Along with the low price of oil, sanctions imposed on Russia in response to crises in Ukraine have struck a major blow to its economy, a European leader said. T...

Oil giant PetroChina's 2014 net profit slumps 17%

Mar 26, 2015 (AFP)

Chinese energy firm PetroChina said Thursday its net profit slumped 17 percent in 2014 from a year earlier as international crude oil prices plunged in the seco...

Wood Mac: High costs of drilling not abnormal

Mar 26, 2015 (UPI)

Spending on oil and gas exploration is dropping off as oil prices remain depressed, but the industry may respond by doing more with less, Wood Mackenzie finds. ...

British oil and gas production declines

Mar 26, 2015 (UPI)

The British government said Thursday total oil production was down by 3.6 percent and gas production was down more than 1 percent during the last few months. Pr...