Tag Archives: oil

Algiers, Algeria | AFP |  The world’s top oil producers “must take a decision” to stabilise prices, Algeria’s energy minister said on Sunday ahead of an OPEC meeting on Wednesday in Algiers. Oil prices are already depressed after two years of oversupply amid deep disagreements between members of the Organization …

NEWS ANALYSIS: Experts dissect the government’s target of oil finally flowing by 2020 The government of Uganda on Aug. 30 finally issued oil production licenses to Tullow Uganda Operations Pty Ltd and Total E&P Uganda B.V. The move ended a long wait for the oil companies caused by disagreements with the …

New York, United States | AFP |  A big drop in US crude stockpiles sent oil prices sharply higher Wednesday. The US benchmark West Texas Intermediate for delivery in November jumped $1.29 to $45.34 a barrel in New York trade. In London, Brent North Sea oil for November delivery advanced …

Benghazi, Libya | AFP | An oil tanker left the Libyan port of Ras Lanouf for Italy on Tuesday, an official said, the first shipment since fighting erupted over control of the “oil crescent” two years ago. Oil is war-ravaged Libya’s key asset, and rival administrations have been vying for …

The Hague, Netherlands | AFP | Kenya on Monday rebuked Somalia for dragging it before the UN’s top court to defend a maritime border dispute that could decide the fate of potentially lucrative Indian Ocean oil and gas reserves. In a hearing at the UN’s International Court of Justice, Kenya …

Nairobi, Kenya | AFP |  Kenya’s fight to hold on to potentially lucrative Indian Ocean oil and gas reserves, threatened by a maritime border spat with Somalia, goes before the UN’s top court in The Hague on Monday. The hearings, due to last through the week, are the first stage …

Singapore, Singapore | AFP |  Oil prices fell in Asia Friday as the prospects of higher output from Libya and Nigeria further fuelled oversupply concerns, cutting short a nascent rebound. Both contracts rose Thursday on news that 6,000 barrels of gasoline had leaked from the Colonial pipeline that carries fuel …

Geneva, Switzerland | AFP |  European oil companies, especially Swiss commodity traders, are exploiting weak African fuel standards by selling toxic diesel and gasoline across the continent, a campaign group said Thursday. A three-year investigation published by Switzerland-based environmental and economic group Public Eye did not accuse oil companies of …

Lagos, Nigeria | AFP | Thousands of passengers across Africa have been left stranded after Nigeria’s largest airline said Tuesday it had suspended operations and might remain grounded for several days. Arik Air attributed the “temporary disruption” to “pending approval of aircraft documentation related to insurance renewal… a challenge due …

  Lagos, Nigeria | AFP | Traffic jams may clog the city and the beaches look like garbage dumps, but for the Lagos state government developing tourism is now a do or die matter. Nigeria has survived almost exclusively on oil revenues for decades, but the plunge in crude prices …