OIL - AFRICA DAILY

Amec Foster Wheeler ready for new life with Wood Group

Aug 11, 2017 (UPI)

Wood Group announced plans in March to purchase the company for $2.6 billion in a move that will combine two of Britain's largest energy services companies. Ame...

Saudi, Iraq vow stronger commitment to cut oil output

Aug 10, 2017 (AFP)

The pledge from Saudi Arabia and Iraq, the first and second largest OPEC producers, came after their oil ministers met in the Red Sea city of Jeddah. Saudi Ener...

Canada: province hires special counsel to help fight pipeline

Aug 10, 2017 (AFP)

Officials also said they would seek to join a court challenge of the Trans Mountain project and try to revive consultations with affected indigenous groups. Tha...

Geopolitical tension in the driver's seat for oil prices

Aug 09, 2017 (UPI)

Crude oil prices drifted into negative territory for most of the Tuesday session and closed lower even after Washington offered a bellicose response to North Ko...

Rig movements increase offshore Norway

Aug 09, 2017 (UPI)

Odfjell Drilling, trading on the Oslo exchange, announced a contract with Aker BP for the lease of its Deepsea Stavanger semi-submersible rig. The deal puts the...

U.S. could be world's No. 3 LNG exporter

Aug 09, 2017 (UPI)

Thanks in large part to shale operations, the United States in 2009 passed Russia to become the largest natural gas producer in the world. Most of the transport...

U.S. shale player Sanchez boosted by second quarter acquisition

Aug 09, 2017 (UPI)

Sanchez is one of the larger operators in the Eagle Ford shale basin in Texas and added more than 300,000 acres to its portfolio through a March acquisition fro...

OMV posts production, but weak financials

Aug 09, 2017 (UPI)

OMV was among the shares leading the decline in European trading after reporting an about-face in most of its major financial metrics for the second quarter. Th...

Oil production for Gazprom Neft up 5 percent

Aug 09, 2017 (UPI)

Gazprom Neft is the oil division of Russian energy major Gazprom. It's the fourth largest oil producer in Russia and said its first quarter production was about...

Moody's: Energy-rich Qatar facing economic risks

Aug 08, 2017 (UPI)

Saudi Arabia in June led a coalition of Middle East countries in severing ties with Qatar, adding a layer of geopolitical risk to the global energy market. Saud...

Shale-rich Oklahoma sees widespread economic growth

Aug 08, 2017 (UPI)

In its latest estimate, the federal Bureau of Economic Analysis reported gross domestic product increased in Oklahoma for the second quarter in a year, followin...

High demand means higher gasoline prices, report finds

Aug 08, 2017 (UPI)

Motor club AAA reports a national average retail price for a gallon of regular unleaded gasoline at $2.35 for Tuesday, a slight increase from the previous day, ...

Libyan oil production issue resolved

Aug 08, 2017 (UPI)

A worker protest during the weekend led to halt in production from the Sharara field, the nation's largest. According to Bloomberg News, which first reported th...

First batch of regional troops arrive in South Sudan

Aug 08, 2017 (AFP)

The UN Security Council decided a year ago to deploy a 4,000-strong regional force, two months after fighting in the capital Juba killed hundreds of people and ...

United Arab Emirates, an OPEC member, eyes more oil production

Aug 08, 2017 (UPI)

The company, known by its acronym, ADNOC, said it was in "advanced discussions" with more than a dozen potential partners expressing an interest in offshore are...

Win-win deal for Baker Hughes and offshore Papua New Guinea

Aug 08, 2017 (UPI)

The oil and gas unit of General Electric and drilling services company Baker Hughes agreed last year to a merger that put GE in control of an entity that at the...

Oil prices relatively even on wait-and-see Tuesday

Aug 08, 2017 (UPI)

Parties to an agreement from the Organization of Petroleum Exporting Countries to balance an oversupplied market with production declines are wrapping up meetin...

Barents Sea yields little for Norway's Statoil

Aug 07, 2017 (UPI)

The Norwegian Petroleum Directorate confirmed a minor discovery in the so-called Hoop Area in the Barents Sea. Known as a wildcat well, one drilled into an area...

Third gas discovery declared off the coast of Myanmar

Aug 07, 2017 (UPI)

The company said it made its third natural gas discovery since early 2016 at the Southern Rakine basin off the coast of Myanmar. Dubbed Pyi Thit-1, the company ...

OPEC's uphill effort leaves oil prices in negative territory

Aug 07, 2017 (UPI)

Crude oil prices broke out of the mid-$40 range in mid June as demand factors started to show up as declining oil and gasoline inventories. Brent, the global be...