OIL - AFRICA DAILY

World Bank: Persian Gulf economies growing, but face considerable risk

Jun 16, 2017 (UPI)

A World Bank report on the economies for members of the Gulf Cooperation Council finds aggregate growth expands from 1.3 percent this year to 2.6 percent in 201...

Russia's Gazprom taking interest in India

Jun 16, 2017 (UPI)

Deputy Chairman Alexander Medvedev was quoted by Russian news agency Tass as saying the Central Asian country was an emerging objective. "I do not rule out that...

Russia's Central Bank sees mid-term risk from oil prices

Jun 16, 2017 (UPI)

Contrasting a decision from the U.S. Federal Reserve this week to raise its rates, Russia's Central Bank said Friday it was cutting its key rate to 9 percent an...

Settlements reached over 2013 oil spill in Arkansas

Jun 16, 2017 (UPI)

The Hare Wynn Newell and Newton law firm of Little Rock announced the "favorable settlement" for residents affected by the release from Exxon's Pegasus oil pipe...

Guyana, a new oil frontier, gets investment support

Jun 16, 2017 (UPI)

The companies in separate statements announced a decision to move forward with the first phase of the development of the Liza field off the coast of Guyana. The...

Oil-rich Kazakhstan gets backing for more regional cooperation

Jun 16, 2017 (UPI)

ADB Vice President Wencai Zhang is on a four-day visit to Kazakhstan to take part in economic forums under the umbrella of a broader development agenda, the Cen...

Development of Gatwick Gusher oil basin on schedule

Jun 16, 2017 (UPI)

U.K. Oil & Gas Investments said Friday it's completed the drilling of an exploration well targeting the Kimmeridge limestone. An "extensive" core sampling is se...

Demand factors drag crude oil prices lower

Jun 15, 2017 (UPI)

The U.S. Federal Reserve said Wednesday it was raising its target range for the federal funds rate from 1 percent to 1.25 percent, citing steady gains in the la...

Norway says it's not even close to done as an oil and gas producer

Jun 15, 2017 (UPI)

Norway is one of the region's largest oil and gas producers and sends nearly all of its offshore output to the export market. The government reported net cash f...

Judge orders environmental review of Dakota oil pipeline

Jun 15, 2017 (AFP)

US District Judge James Boasberg in Washington said the US Army Corps of Engineers did not fully consider the effects of a possible oil spill on the fishing and...

HRW: Equatorial Guinea, the next member of OPEC, mismanaging wealth

Jun 15, 2017 (UPI)

Before the discovery of oil in the early 1990s, the country had a total net income of around $130 million, though oil reserves brought that to a peak of $19 bil...

US moves to reassure Qatar with arms sale, joint exercise

Jun 15, 2017 (AFP)

A deal for the "state-of-the-art" F-15 fighters was signed by Qatar in Washington, which has sent conflicting signals to its longtime ally in the crisis that ha...

Slow growth, low price of oil raising economic concern in Russia

Jun 15, 2017 (UPI)

Russian news agency Tass published data from All-Russia Public Opinion Study Center that found nearly a quarter of the 1,600 people taking part in the survey to...

Production efficiency improves for offshore British oil and gas

Jun 15, 2017 (UPI)

Maturation concerns have led to dimmed prospects for the British waters of the North Sea. Royal Dutch Shell has started the process of taking down legacy operat...

Some EU members have work to do on low-carbon economy

Jun 15, 2017 (UPI)

IEA Executive Director Fatih Birol met in Budapest with Hungarian Prime Minister Viktor Orban to review a national report on the country's energy sector. The re...

Market balance delayed, International Energy Agency says

Jun 14, 2017 (UPI)

Parties to an agreement led by the Organization of Petroleum Exporting Countries to balance the market through managed production declines decided to extend the...

North Dakota sees $45 per barrel as a threshold for production

Jun 14, 2017 (UPI)

The North Dakota Industrial Commission reported the preliminary crude oil production rate in April, the last full month for which it published data, was 1.04 mi...

Libya sees oil production gains ahead

Jun 14, 2017 (UPI)

The Libyan National Oil Co. said it signed an agreement with Wintershall that outlines a resumption of oil production from some of its license areas on an inter...

Newly-formed Aker BP given Ba2 credit rating

Jun 14, 2017 (UPI)

Aker BP, a merger of Norwegian energy companies and a national subsidiary of BP, emerged late last year and reported adjusted earnings before interest, tax, dep...

US Navy boats in Qatar for joint exercise

Jun 14, 2017 (AFP)

The American boats arrived at Hamad Port south of Doha "to participate in a joint exercise with the Qatari Emiri Navy," according to a Ministry of Defence state...