crude | Egypt Oil & Gas - Part 7

Africa Suffers from Rising Oil and Weaker Currencies

Several African countries are suffering this year from a double-whammy of higher oil prices and weakening currencies, with Ghana and parts of eastern Africa taking the hardest knock from the surge in inflation.

75,000 Barrels to Be Lifted from Libya’s Zueitina Port

A tanker has docked at the eastern Libyan port of Zueitina port to lift 750,000 barrels of crude.

BP Lifts Force Majeure on Angola’s Saturno

BP has lifted a force majeure on exports of Angolan Saturno crude oil, traders said on Tuesday.

Brent falls towards $66, China Factory Activity falls

Brent crude dipped towards $66 a barrel on Monday as weak Chinese data adds to demand fears, while near-record supplies from OPEC producers maintained worries about oversupply.

Iraqi Crude Dents Oil Prices Amidst OPEC Production Commitments

Oil declined from a four-month high in New York after Iraq raised crude exports in April to the most in three decades.

Crude Oil Price Climbs as Analysts Fear Disrupted Supply from Middle East

Brent crude oil has increased to $65.37 per barrel amid concerns over disrupted supply from Middle East and slowdown in US shale oil production

Contaminated Crude Being Shipped from US to Asia

One million barrels of oil. Enough to fill more than 60 Olympic-sized swimming pools. And there it sat in tanks outside San Francisco -- for three years -- despite crude prices that topped $100 a barrel.

Unrest in Nigeria Oil Region Subsides as Jonathan Concedes

Nigerian President Goodluck Jonathan’s concession of defeat in presidential elections has mitigated the risk of an armed uprising in the main oil-producing region by militants who were intent on keeping him in power.

Storage Industry Optimizing in Preparation for Oil Price Rebound

Oil traders are seeking out storage in order to sell at a profit in the future when the price rebounds, according to experts.

No Time Frame for Shell’s Nigeria Oil Well to Restart

Shell has no timeline to restart the Seibou 2 wellhead in Nigeria that it closed in January after it leaked 550 barrels of crude oil, a spokeswoman said on Friday.

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