As slumping oil prices squeeze Saudi Arabia’s finances, a few big hedge funds are wagering that the kingdom will be forced to abandon a three-decade-old currency peg that has been Continue Reading
Iran still faces constraints on oil exports as buyers are cautious about boosting trade immediately because of banking and ship insurance difficulties, a senior Iranian oil official said, despite seeing Continue Reading
Iraq’s southern oil exports dropped slightly in February to an average of 3.225 million barrels per day (bpd), the oil ministry said on Tuesday. Shipments from the southern terminals in Continue Reading
OPEC is very unlikely to cut output at its next meeting in June, even if prices remain extremely low, according to OPEC sources and delegates, as it will be too Continue Reading
The United Kingdom will send a group of 20 soldiers to Tunisia to prevent Islamic State fighters from crossing the country’s border with Libya, British Defense Minister Michael Fallon said, Continue Reading
The leaders of Uganda and Tanzania agreed at a private meeting on Tuesday to build a crude pipeline across their countries, connecting landlocked oilfields to the Indian Ocean, the Tanzanian Continue Reading
To boost gas use across southern Africa A cooperation agreement has been signed to build a $6 billion, 2,600 km pipeline to send natural gas from offshore Mozambique to South Continue Reading
Oil giant Shell is being sued in London for the second time in five years over spills in the Niger Delta. Two communities are claiming compensation and want Shell to Continue Reading
The International Energy Administration (IEA) expected Nigeria’s oil production to decline by 70,000 barrels per day (bpd) by 2021 to 1.85 million bpd due to reduction in investment in the Continue Reading
Failure of Shell Petroleum Development Company, SPDC , to ensure environmental protection by maintaining and protecting oil pipelines may leave it vulnerable to pay series of compensation claims from several Continue Reading
