OIL - AFRICA DAILY

Mar 12, 2015 (UPI)

Dutch-owned Vitol, the largest independent energy trader in the world, said Thursday its 2014 revenue dropped 12 percent on low oil prices. "As the largest inde...

Spending cut planned for Kurdish oil operations

Mar 12, 2015 (UPI)

The bulk of spending for 2015 will target oil operations in northern Iraq and, while spending is reduced, output should be static, Oryx Petroleum announced. Ory...

Alberta gets good marks for pipeline safety

Mar 12, 2015 (UPI)

Oversight of the pipeline network in the oil-rich Canadian province of Alberta was found to be effective, though there's room for improvement, an audit found. T...

Brent extends rally as EU industrial production falters

Mar 12, 2015 (UPI)

Crude oil prices gained ground in Thursday trading as European industrial production declines offset continued improvements in the U.S. labor market. Brent pric...

Oil gets minor lift from U.S. data

Mar 11, 2015 (UPI)

An expected moderation in U.S. crude oil inventories helped stimulate oil prices Wednesday, briefly ending a short-term faltering in the seasonal rally. Brent c...

Western Canadian oil and gas output declines

Mar 11, 2015 (UPI)

Oil and natural gas production from frontier prospects in the Northwest Territories is on a steady decline, federal Canadian data show Wednesday. The National E...

Chevron shrugs off low oil prices

Mar 11, 2015 (UPI)

The low price of crude oil is no deterrent to long-term strategic objectives for U.S. energy company Chevron, its executives said at an analyst meeting. Fourth ...

Palestinian side cancels Israeli gas deal

Mar 11, 2015 (UPI)

Operators at the Leviathan natural gas field off the Israeli coast said Wednesday a Palestinian group canceled a $1.2 billion purchase contract. Delek Group, wh...

North Dakota creek soiled by oil product

Mar 11, 2015 (UPI)

Health officials in North Dakota said they're investigating potential water quality issues related to a small spill of liquids associated with oil production. A...

Oil price rally waning, though WTI holding strong

Mar 10, 2015 (UPI)

Crude oil prices continued their slow fade Tuesday even as U.S. data show evidence the bear market had an impact on the production behind recent market trends. ...

Fires out at Ontario oil-train derailment

Mar 10, 2015 (UPI)

The last of the fires tied to the derailment of a train carrying crude oil through Ontario have been extinguished, local officials said. A train carrying crude ...

Wood Mac gobbled up by Verisk

Mar 10, 2015 (UPI)

Energy consultant group Wood Mackenzie confirmed Tuesday it was acquired by Verisk Analytics for approximately $2.8 billion. "Our teams stand ready to build on ...

U.S. gasoline prices tapering off

Mar 10, 2015 (UPI)

The steady streak of increases in the U.S. average price for a gallon of regular unleaded gasoline is tapering off, a review from motor club AAA finds. AAA repo...

Venezuela sanctions don't extend to oil

Mar 10, 2015 (UPI)

While an official in Caracas said sanctions are an act of war, a top U.S official said the measures will have no direct impact on oil revenue for Venezuela. Pre...

BP finds more gas in Egypt

Mar 09, 2015 (UPI)

British energy company BP considers the Nile Delta region of Egypt to be a "world-class" basin for natural gas, its chief executive officer said Monday. BP said...

Oil fizzles after OPEC supply comments

Mar 09, 2015 (UPI)

Crude oil prices drifted lower in the Monday session, a day after OPEC's secretary-general said markets are oversupplied and price movements were cyclical. The ...

Canada under pressure after oil train derailment

Mar 09, 2015 (UPI)

The Canadian government faces similar pressure as its U.S. counterparts to do more to ensure oil is carried on railways safely, a lawmaker said. The Transportat...

West Africa buoyed by Ivorian gas discovery

Mar 09, 2015 (UPI)

A declaration of discovery was submitted to the government of the Ivory Coast after a test well produced oil and gas, RAK Petroleum said Monday. The Norwegian e...

Four Filipinos nabbed from Libyan oil field

Mar 09, 2015 (UPI)

The kidnapping of four Filipinos from an oil field in Libya came just one day after 77 nationals were repatriated in Manila, the government in Manila said. Seve...

Oil prices down on strong U.S. supply

Mar 06, 2015 (UPI)

While geopolitical concerns hold Brent crude prices relatively steady, West Texas Intermediate sinks on high U.S. supply and strong U.S. dollar. West Texas Inte...