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Oil News

On Siberia native land, oil doesn't take 'no' for an answer

Russia - The Sopochin family has seen oil majors gradually encroach on the land in Siberia where they have herded reindeer for generations, but the latest project has made them draw the line.

Nigeria's vice-president and a fragile peace in the delta

Warri - While Nigeria's President Muhammadu Buhari was receiving treatment in London for an undisclosed illness, his energetic deputy Yemi Osinbajo was wooing the country's oil heartland.

Libya strongman's forces say oil terminals recaptured

Benghazi - Troops commanded by Libyan military strongman Khalifa Haftar announced the recapture Tuesday of two key oil installations, as fighting raged in Tripoli where a rival government has struggled to assert its authority.

Libya strongman's forces say oil terminals recaptured

Benghazi - Troops commanded by Libyan military strongman Khalifa Haftar announced the recapture Tuesday of two key oil installations, as fighting raged in Tripoli where a rival government has struggled to assert its authority.

OPEC detects 'high compliance' with oil cut deal

Paris - OPEC said Tuesday oil producers have kept their promise to cut output in accordance with a landmark deal designed to lift petroleum prices.

Libya strongman launches offensive on oil terminals: spokesman

Benghazi - Troops commanded by Libyan military strongman Khalifa Haftar launched an assault on Tuesday to seize two of the country's key eastern oil terminals, a spokesman said.

Libya strongman launches offensive on oil terminals: spokesman

Benghazi - Troops commanded by Libyan military strongman Khalifa Haftar launched an assault on Tuesday to seize two of the country's key eastern oil terminals, a spokesman said.

Native Americans march on White House over Dakota pipeline

Washington - Native American groups staged a march to the White House Friday against the construction of a controversial oil pipeline which they fear could lead to the desecration of tribal lands.

Spain's Repsol announces big Alaska oil find

Madrid - Spanish energy giant Repsol announced on Thursday a large find in Alaska that it says holds approximately 1.2 billion barrels of oil.

Forces of east Libya strongman concede loss of oil port

Benghazi - The forces of eastern Libya's military strongman Khalifa Haftar conceded the loss on Saturday of a key oil export terminal they seized last year as fighting for the country's resource wealth intensifies.

Forces of east Libya strongman concede loss of oil port

Benghazi - The forces of eastern Libya's military strongman Khalifa Haftar conceded the loss on Saturday of a key oil export terminal they seized last year as fighting for the country's resource wealth intensifies.

Forces of east Libya strongman concede loss of oil port

Benghazi - The forces of eastern Libya's military strongman Khalifa Haftar conceded the loss on Saturday of a key oil export terminal they seized last year as fighting for the country's resource wealth intensifies.

Iraqi Kurd forces halt pumping through key oil pipeline

Kirkuk - Iraqi Kurdish forces deployed at a state-run oil company Thursday, temporarily halting pumping through a pipeline that is one of the country's two main avenues for crude exports, officials said.

World's largest wealth fund gains 50 bln euros in 2016

Oslo - Norway's sovereign wealth fund, the world's largest, notched up huge gains in 2016, as it reaped the benefits of a global stock market rally following the election of US President Donald Trump, the Norwegian central bank said Tuesday.

Mexico's Pemex cuts losses to $14.3 bn in 2016

Mexico - Mexico's state-run energy giant Pemex reported losses of $14.3 billion for 2016 on Monday, halving its losses from the previous year and saying "austerity" measures were starting to pay off.

US 'not in Iraq to seize anybody's oil': Mattis

Baghdad - The United States is not about to plunder Iraq's petroleum reserves, Defence Secretary Jim Mattis, who was in Baghdad Monday, said as he sought to soothe partners rattled by President Donald Trump.

Norway eyes curb on sovereign fund withdrawals

Oslo - Norway on Thursday proposed to curb the amount of money it can withdraw from its sovereign wealth fund, the largest in the world, amid lower expected returns. The minority rightwing government also recommended that the fund, worth 7.

UK court blocks Niger Delta pollution claims against Shell

London - A British court on Thursday blocked pollution claims against Anglo-Dutch energy giant Shell by more than 40,000 Niger Delta residents demanding action over decades of oil spills in the region.

East Timor and Australia to tear up sea border treaty

Sydney - A contentious maritime border treaty between East Timor and Australia which cuts through lucrative oil and gas fields in the Timor Sea is to be torn up, the two sides said Monday.

California seeks permanent ban on oil, gas prospecting

Los Angeles - California Governor Jerry Brown has urged US President Barack Obama to ban oil and gas drilling off the state's coast to protect the oceans and fight global warming.

Angola awaits successor to long-ruling leader Dos Santos

Luanda - Angola is expected to formally announce the end of President Jose Eduardo Dos Santos' controversial 37-year rule Saturday, and name a successor to lead the ailing African oil-producing country.

US authorities to re-route controversial North Dakota pipeline

Cannon Ball - The US Army Corps of Engineers nixed plans for a controversial oil pipeline crossing in North Dakota, a major victory for Native Americans and environmentalists who had staged months of protests.

Russia confirms ready to cut oil output by 300,000 barrels per day

Moscow - Russian Energy Minister Alexander Novak, responding to a decision by OPEC Wednesday to reduce crude output to lift prices, said Russia was ready to cut its own oil production by 300,000 barrels a day next year.

Putin, Iran's Rouhani back OPEC bid to stabilise oil prices

Moscow - Russian President Vladimir Putin and his Iranian counterpart Hassan Rouhani on Monday expressed support for OPEC's plans to limit the cartel's output ahead of a crucial meeting this week.

Nigeria's peace talks with oil rebels deadlocked

Warri - Just weeks ago, Nigeria's junior oil minister said output was almost back to normal after a year of devastating attacks against the major African oil producer.But now it seems Emmanuel Kachikwu spoke way too soon about the 2.

Iraq has to up oil output because of 'budget hole': FM

Budapest - Iraq has to up its crude output because dwindling oil prices and the fight against Islamic State have left "a huge hole" in the economy, Foreign Minister Ibrahim al-Jaafari said Tuesday, as the OPEC cartel scrambles to agree a production cut deal.

Polluted water in hand, Nigerian king takes Shell to court in London

London - King Emere Godwin Bebe Okpabi holds up a plastic bottle containing contaminated water from his community in Nigeria, proof of oil pollution that he blames on Royal Dutch Shell -- and on which he hopes a London court will deliver justice.

Mozambique probes tanker explosion that killed 56

Maputo - Authorities in Mozambique were on Friday investigating whether locals were taking petrol from a tanker that exploded in the country's west killing at least 56 people and injuring more than 100.

Saudi oil minister says OPEC production cut 'imperative'

Alger - Saudi Arabia's oil minister said it was "imperative" that OPEC nations finalise an agreement over a cut in oil production aimed at boosting crude prices, Algerian media said Sunday.

OPEC pumping oil at record levels ahead of crunch meeting: IEA

Paris - Output by OPEC oil producers has reached record levels, the International Energy Agency said Thursday, raising fears a global oil glut will continue to weigh on markets unless the cartel agrees on a cut.
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