U.S. oil companies sidelined 24 oil-drilling rigs this week, according to Baker Hughes’ rig count released Friday, bringing the count to its lowest point since October 2010.
Afren is looking to sustain its wide-ranging development and exploration programs offshore Africa, despite the company’s current financial difficulties.
An Iranian Petroleum Ministry official says South Africa seeks to ink memorandums of understanding (MoUs) with the Islamic Republic in different energy sectors.
Total Maroc (IPO-TOMAR.CS), owned by France's Total, plans to raise between 612 million dirhams and 720 million dirhams ($74.48 million) in an initial public share offer, Moroccan bourse watchdog CDVM said in a statement on Saturday.
Top oil firms Royal Dutch Shell and Total are bringing their refining and trading operations closer together, seeking alternative ways to drive profits as oil prices fall and independent trading houses expand into their territory.