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Tag Archives: Africa

Shell Nigeria shuts oil terminal as attacks cut production

Shell, Nigeria

WARRI, Nigeria (AP) — Shell is temporarily closing the terminal exporting Nigeria’s benchmark Bonny Light crude oil as militant attacks have cut production in Africa’s biggest petroleum producer. Shell refused to confirm labor union reports that the company is also evacuating workers from Bonga oilfield following a threat. A bomb attack last week closed a major Chevron facility. Shell’s Forcados ...

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The Latest: Nigeria senate president linked to offshore case

The Latest: Nigeria senate president linked to offshore case

LONDON (AP) — The Latest on the publication by a coalition of media outlets of an investigation into offshore financial dealings by the rich and famous (all times local): 1:05 p.m. Nigeria’s Premium Times newspaper is reporting that the country’s senate president, the third highest-ranking politician in Africa’s biggest oil producer, owns at least two offshore accounts that he tried ...

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Bomb attacks on pipelines cause massive oil spill in Nigeria

Bomb attacks on pipelines cause massive oil spill in Nigeria

WARRI, Nigeria — Multiple bombings of Agip oil pipelines have caused thousands of barrels of oil to pollute waterways, farms and fishing grounds in Nigeria’s southern Bayelsa state, residents said Monday. Oil flowed unchecked for two days, according to fishermen who complained that a clean-up has not yet started. A spokesman for Italian parent company ENI said 16,000 barrels of ...

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Low oil prices mean a slump in Nigerian oil thefts

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The Niger Delta area in Nigeria has been a catastrophic region for environmental pollution and oil piracy. But, as the oil market continues on with its slumping prices, stealing crude oil for illegal refining is less profitable, and the country is experiencing a decrease in crude oil crime. According to a recent Wall Street Journal report, just months ago, hundreds ...

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Venezuela’s loss is Africa’s gain in Latam crude game

HOUSTON – Shrinking crude exports from Venezuela to its neighbors has allowed African oil producers to gain a foothold among Latin American buyers, according to traders and data, and sales to one of the world’s few regions with strong demand will keep growing. Only months ago, African producers were scrambling to find new clients in the Western Hemisphere, having largely ...

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Fracking is saving Americans billions of dollars

A recent report commissioned by the American Petroleum Institute states that hydraulic fracturing saved Americans roughly $250 billion last year. The report was part of a move to combat various regulations that are meant to restrict fracking activity. The study examined past fuel prices and production data and weighed it against what the market would be like without hydraulic fracturing. ...

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Lower global demand, U.S. LNG supply could delay other export projects: report

Lower expected demand combined with U.S. projects in the works to export liquefied natural gas could delay other LNG export projects in Canada, Australia and Africa, according to a report from Goldman Sachs Corp. “Several projects in Canada and Australia will likely face final investment decision deferrals due to high and uncertain costs, and price-sensitive buyers,” the firm said last ...

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West Africa oil industry at risk of Ebola exposure

Marissa Hall | Shale Plays Media As the Ebola outbreak becomes more serious in West Africa, it could be putting the oil and gas industry in the region at risk. Failure to contain the virus could put workers living in the area at risk of exposure. Offshore Magazine reports: John Sisa, lead analyst covering Upstream Oil & Gas in the ...

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African oil sales hurt by U.S. shale boom

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Shane Thielges | Shale Plays Media Africa’s drilling industry is growing at a remarkable pace. Overseas investments in Sub-Saharan nations hit a record $43 billion in 2013, in part because of new oil and gas deposit discoveries. The continent supplies 6.5 percent of the world’s crude oil, and the Energy Information Administration says this number has grown by 3 percent each year ...

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