OIL - AFRICA DAILY

Feb 27, 2015 (UPI)

Crude oil prices rebounded Friday on revised U.S. economic data, recovering from midweek slumps sparked by OPEC comments and U.S. inventory buildups. The prices...

Wrench thrown in British shale gas gears

Feb 26, 2015 (UPI)

British shale pioneer Cuadrilla Resources said it was "perplexed" by a regional council's decision to deny a planning application for pioneer well developments....

Whiting to cut Bakken rig deployments

Feb 26, 2015 (UPI)

U.S. shale player Whiting Petroleum said it expects overall production to rise, though fewer wells are planned in areas like the Bakken play in North Dakota. Wh...

Midweek oil price rally falters

Feb 26, 2015 (UPI)

Crude oil prices pulled back early in the Thursday session amid U.S. inventory buildups, ending a midweek rally spurred in part by comments from OPEC leaders. B...

Making treatment of oil and gas wastewater simpler, cheaper

Feb 26, 2015 (SPX)

Oil and gas operations in the United States produce about 21 billion barrels of wastewater per year. The saltiness of the water and the organic contaminants it ...

China energy giant Sinopec denies merger plans: report

Feb 26, 2015 (AFP)

Chinese oil giant Sinopec has denied reports the government plans to merge the firm with another domestic energy behemoth, China National Petroleum Corp (CNPC),...

U.S. crude oil production holding steady

Feb 26, 2015 (UPI)

U.S. crude oil production for the week ending Feb. 20 held steady amid rig count reductions and planned cuts in upstream spending, federal data show. The U.S. E...

Argentine oil firm moves toward ending row in Peru

Feb 26, 2015 (AFP)

Indigenous villagers and an Argentine oil company are making strides toward ending a dispute in Peru's Amazon basin region that led to reduced oil output, the t...

Saudi Aramco cancels rig contract

Feb 26, 2015 (UPI)

U.S. rig company Hercules Offshore said Thursday one of its drilling contracts with the main oil company in Saudi Arabia was terminated. Saudi Aramco cancelled ...

Oil sector successful, Iran says

Feb 26, 2015 (UPI)

Most sectors of the Iranian economy are performing well, with the oil sector in particular performing as expected, the country's deputy oil minister said. Irani...

Canada's Encana Corp. cuts spending

Feb 25, 2015 (UPI)

Canadian energy company Encana said Wednesday its U.S. natural gas assets performed well last year, but 2015 capital investments will be cut by $700 million. "W...

OPEC comments drive Brent prices up

Feb 25, 2015 (UPI)

Statements from a member of OPEC again swayed oil markets Wednesday, with Saudi comments on demand driving Brent crude prices upward. Brent crude oil prices hav...

Alberta not surprised by Keystone XL veto

Feb 25, 2015 (UPI)

Stressing the debate over the Keystone XL oil pipeline isn't over, Alberta Premier Jim Prentice said he wasn't surprised by a veto from the White House. Preside...

Gulf Keystone Petroleum mum on potential sale

Feb 25, 2015 (UPI)

Gulf Keystone Petroleum, active in Iraq, said Wednesday it was keeping a tight lid on the reasons behind an announcement of a possible sale of the company. The ...

Asphaltene analysis takes a giant step

Feb 25, 2015 (SPX)

Rice University researchers have developed an easy and accurate technique to detect and quantify the amount of asphaltene precipitated from crude oils, which be...

Kazakhstan expects oil production boom

Feb 25, 2015 (UPI)

Kazakhstan's government said Wednesday it expects oil production to increase by as much as 30 percent in part because of operations at its giant Kashagan field....

Gazprom threats to cut Ukrainian gas supplies

Feb 24, 2015 (UPI)

Russian energy company Gazprom said Tuesday it may halt natural gas deliveries to Ukraine within two days because of late payments. Ukraine's natural gas contra...

Durability of North Sea energy sector questioned

Feb 24, 2015 (UPI)

A bright spot in an otherwise "bleak" year for North Sea oil and gas operations was that production slipped 1 percent year-on-year, an annual survey found. "Thi...

Profit up, spending down for shale player ONEOK

Feb 24, 2015 (UPI)

U.S. shale energy company ONEOK Partners said fourth quarter net income was up year-on-year, though a weak commodity market forced a cut in planned spending. Th...

Oily-mixture removed from W. Va. derailment site

Feb 24, 2015 (UPI)

With monitoring ongoing, responders to last week's oil-train derailment in West Virginia said they're busy removing an oily mixture from containment trenches. N...