OIL - AFRICA DAILY

Feb 06, 2015 (UPI)

Crude oil prices extended their rally Friday, posting some of the biggest two-week gains in recent trading as markets show signs of moving above a floor price. ...

Light for British shale gas work turning green

Feb 06, 2015 (UPI)

With federal permits in hand, British shale gas pioneer Cuadrilla Resources said Friday it was committed to a light environmental permit despite public uproar. ...

Norway's Statoil hit by low oil prices

Feb 06, 2015 (UPI)

Norwegian energy company Statoil said Friday fourth quarter earnings were affected by declining oil prices, though production forecasts were strong. "Statoil's ...

Some Kurdish oil exports suspended

Feb 06, 2015 (UPI)

Exports from the Kurdish north of Iraq through Turkey are suspended while payment negotiations continue, Gulf Keystone Petroleum said Friday. The British compan...

Drilling company Maersk cuts staff

Feb 05, 2015 (UPI)

It would be "irresponsible" not to react to the low oil price climate and keep staffing levels in place, Danish oilfield services company Maersk Drilling said. ...

Russia's Support of Assad Flexible if Saudis Promise to Cut Oil Output

Feb 05, 2015 (Sputnik)

Russia's support of Syrian President Bashar Assad could be swayed if Saudi Arabia promises to cut oil output, as it will lead to higher oil prices profitable fo...

Alberta's premier stumps for Keystone XL

Feb 05, 2015 (UPI)

While clearly in the region's interests, the energy relationship between the United States and Canada is about more than Keystone XL, Alberta's premier said. Su...

Lower 48 oil production declines

Feb 05, 2015 (UPI)

Total U.S. oil production declined by about one half of one percent for the week ending Jan. 30, with output from the Lower 48 slowing down, data show. The U.S....

Philippines urges China to show respect in South China Sea

Feb 05, 2015 (AFP)

The Philippines accused China on Thursday of ramming Filipino fishing boats off a disputed shoal in the South China Sea, and demanded its powerful neighbour res...

Energy tops EU-U.S. trade agenda

Feb 05, 2015 (UPI)

Trade with the United States could remove obstacles inhibiting European efforts to break Russia's grip on the energy sector, a commissioner said Thursday. Europ...

Crude oil markets resume rally

Feb 05, 2015 (UPI)

Oil prices rebounded from steep declines early in the trading day Thursday after the Shanghai Composite Index rose on word of Chinese stimulus. The price for Br...

London pressed to ban fracking

Feb 05, 2015 (UPI)

An environmental advocacy group said it's time for the British government to follow its peers and enact a moratorium on hydraulic fracturing. The Welsh parliame...

Oil prices pull back from recent gains

Feb 04, 2015 (UPI)

Oil prices early in the Wednesday session pulled back from recent gains as concerns about volatility linger in the marketplace for crude. The price for Brent, t...

EPA wants further review of Keystone XL

Feb 04, 2015 (UPI)

A statement from the EPA on how low oil prices may influence decisions on Keystone XL pipeline ruffled feathers, with the industry crying foul. The Environmenta...

U.S. refinery strike not impacting operations

Feb 04, 2015 (UPI)

A strike at U.S. refineries by the United Steelworkers union isn't curbing operations at the affected plants, a monitoring group said. Labor talks between USW a...

Kremlin denies it's in oil talks with Riyadh

Feb 04, 2015 (UPI)

There's no validity to reports Saudi Arabia may be discussing oil production cuts with Russia in exchange for concessions on Syria, an official said Wednesday. ...

Chinese oil company cutting spending

Feb 04, 2015 (UPI)

China National Offshore Oil Corp. is working to control costs in its 2015 development plan in response to falling oil prices, its financial officer said. CNOOC ...

Booz Allen Hamilton expands into Asia

Feb 04, 2015 (UPI)

U.S. consulting company Booz Allen Hamilton has established an office in Singapore to oversee company business in the Asia-Pacific region. The opening of the of...

Low oil prices threaten EU border economies

Feb 03, 2015 (UPI)

The fall in oil prices may help short-term, but deflationary pressures are expected to spill out of the borders of countries in the eurozone, the IMF said. Begi...

AAA: Gas prices rising, but pain less severe

Feb 03, 2015 (UPI)

While it's not uncommon for retail gasoline prices in the United States to spike 30 cents in February, motor club AAA said prices will remain at historic lows. ...