OIL - AFRICA DAILY

Ill. oil-train derailment involved cars safer than federal standard

Mar 06, 2015 (UPI)

Two cars of an oil train carrying Bakken crude from North Dakota caught fire after a derailment in near Galena, Ill., Thursday, with an evacuation of homes with...

Libya declares force majeure on 11 central oilfields

Mar 05, 2015 (UPI)

Libya declared force majeure on 11 oilfields after a series of Islamic State attacks on facilities in the country's central region. The state-owned National Oil...

Iraq, Libya nudge Brent crude prices up

Mar 05, 2015 (UPI)

Brent crude oil prices moved higher early Thursday as deteriorating security situations in Iraq and Libya countered increasing U.S. inventories. The global benc...

Oil prices holding after Tuesday's gains

Mar 04, 2015 (UPI)

Oil prices were holding steady early Wednesday ahead of the release of U.S. oil inventory data. West Texas Intermediate for the April contract was trading at $5...

Pain at the pump to continue, AAA says

Mar 03, 2015 (UPI)

While U.S. gasoline prices remain relatively low, the recent trend in increases is the longest in more than two years, motor club AAA reports. The national aver...

Philippines halts exploration in 'disputed' sea: contractor

Mar 03, 2015 (AFP)

The Philippines has suspended operations at a South China Sea natural gas project because it is also claimed by China and the dispute is before a UN tribunal, i...

Oil prices recover from Monday's loss

Mar 03, 2015 (UPI)

Geopolitical issues helped oil prices recover ground lost during the previous session, with Brent crude oil moving Tuesday back above $60 per barrel. Brent ente...

Energy trends changing investment dynamics

Mar 03, 2015 (UPI)

With world economies taking steps to lower their emissions, an official at the Bank of England said Tuesday investments in fossil fuels are becoming risky. Paul...

Plans evolving for Norway's major oil and gas field

Mar 03, 2015 (UPI)

Norwegian energy company Statoil said it signed a deal with a Swiss services company to build a platform for one of the region's largest oil and gas fields. Swi...

Looted and leaking, South Sudan's oil wells pose health risk

Mar 03, 2015 (AFP)

Thick black puddles and a looted, leaking ruin are all that remain of the Thar Jath oil treatment facility, once a crucial part of South Sudan's mainstay indust...

Algeria: 40 police wounded in anti-shale gas protest

Mar 02, 2015 (AFP)

Forty police officers were wounded Sunday in clashes with demonstrators opposed to shale gas exploration in the Algerian Sahara, the Interior Ministry announced...

Gazprom Neft gets good grade from China

Mar 02, 2015 (UPI)

China's Dagong Global Credit Rating Co. gave Gazprom Neft a AA credit rating, denoting a stable outlook for its debt portfolio and long-term production potentia...

Crude oil markets limp into spring

Mar 02, 2015 (UPI)

Positive economic news from Europe wasn't enough to give oil prices a lift in Monday trading as last week's slump bleeds over into March. The price for Brent cr...

JXK returns to shale work in Ukraine

Mar 02, 2015 (UPI)

Ukrainian shale pioneer JXK Oil & Gas said Monday it returned to full-scale operations in the country after receiving approval from the state gas distributor. J...

Turkey eyes oil in northern Iraq

Mar 02, 2015 (UPI)

Agreements with Iraqi administrations open the door for Turkish oil exploration in the Kurdish north, the Turkish energy minister said Monday. "We have agreemen...

Iraq predicts oil will rise to $64-65 per barrel

Mar 01, 2015 (AFP)

Iraqi Oil Minister Adel Abdel Mahdi said Sunday he expects the price of crude oil, which dropped to a six-year low in January, to continue recovering to reach $...

West coast refinery issues spill over to pump

Feb 27, 2015 (UPI)

Maintenance at U.S. refineries should leave some markets short on gasoline supplies, with West Coast markets suffering most, the Energy Department said. The Ene...

North Dakota rig activity at new low

Feb 27, 2015 (UPI)

As state leaders review legislative and economic affairs, government data for Friday show the number of rigs in North Dakota down 38 percent year-on-year. State...

Kremlin: Ukraine has natural gas until Tuesday

Feb 27, 2015 (UPI)

The natural gas spigot could be closed for Ukraine as early as Tuesday unless it pays for more deliveries in advance, Russia's energy minister said Friday. Russ...

China opposes UN sanctions on South Sudan

Feb 27, 2015 (AFP)

China on Friday voiced opposition to a UN draft resolution on imposing sanctions on South Sudan, saying the measure would be unhelpful at a time when the warrin...