Mozambique Army, Islamist Insurgents Battle Near Gas projects
Mozambican troops battled Islamist insurgents in a town in a northern town on Monday close to billion-dollar gas projects being developed by ExxonMobil and Total, police said.The General Commander of Mozambique's police, Bernardino Rafael, said the insurgents attacked Mocimboa da Praia and its army barracks before dawn on Monday, wounding dozens of people.Mocimboa da Praia is about 350 km (220 miles) by road from…
Shell, Exxon Eye Somalia's Offshore
Royal Dutch Shell and Exxon Mobil are looking to return to Somalia ahead of an oil block bid round later this year, the East African country's oil ministry said.Shell and Exxon Mobil had a joint venture on five offshore blocks in Somalia prior to the toppling of dictator Mohamed Siad Barre in the early 1990s.The country has been mired in insecurity since Barre left and is battling Islamist group al Shabaab that frequently…
Gunmen Attack Headquarters of Libya's State Oil Firm
Several armed men attacked the headquarters of Libya's National Oil Corporation (NOC) in the capital Tripoli on Monday, killing at least two oil staff, a security official said.In the first attack of its kind against the top managers of Libya's state oil industry, two of the gunmen were also killed and at least 10 NOC staff wounded, officials said.Security forces said they had regained control of the landmark glass…
Libya's NOC to Stage Oil and Gas Conference in Benghazi
Libya's state oil company National Oil Corp (NOC) will hold a conference in the eastern city of Benghazi in October to discuss the country's oil and gas sector, it said on Thursday. Domestic and foreign oil companies would participate to discuss the sector's development, NOC said in a statement on its website without naming any companies involved. The event will take place Oct. 9-11. Security has improved in Benghazi…
Oil Shrugs off Geopolitical Tensions but Some See Red Flags
The oil price has ignored rising geopolitical tensions in the Middle East, as a three-year old crude surplus has wiped out any real fear over supply, but one of the world's largest security consultants says there are red flags the market cannot ignore. Bahrain, Saudi Arabia, Egypt, the United Arab Emirates and several other countries cut ties with Qatar on Monday, accusing it of supporting Islamist militants and their arch-enemy Iran - charges Doha says are baseless.
Gulf States Squeeze Qatar as Solution Proves Elusive
Qatar, major gas exporter, calls for dialogue, diplomacy; evidence of economic pressure mounts, alarming markets. Gulf states cranked up the pressure on Qatar on Thursday as U.S. President Donald Trump and Kuwait's emir worked to end an Arab row that Qataris say has led to a blockade of their country, an investment powerhouse and supplier of gas to world markets. With Trump offering to help resolve the crisis, possibly with a meeting at the White House…
Oil Slips on Mideast Rift Worries
Group of Arab states cuts all ties with Qatar; tankers going to/from Qatar barred from Fujairah port. Oil prices slipped further below $50 a barrel on Tuesday on concerns that a diplomatic rift between Qatar and several Arab states including Saudi Arabia could undermine efforts by OPEC to tighten the market. Benchmark Brent crude oil was 10 cents a barrel lower at $49.37 by 1110 GMT, down around 8 percent from the open of futures trading on May 25…
Oil Dips as Qatar Rift Threatens Output Cuts
Oil falls as some question impact of diplomatic row over Qatar. Oil prices fell on Monday on concerns a diplomatic rift among some of the Arab world's major energy producers could weaken a global deal on output cuts, while sterling shrugged off a deadly attack in London and focused on this week's UK election. Wall Street looked likely to open down 0.1 percent, index futures showed , after falls on European bourses. The dollar lifted off seven-month lows hit on Friday in reaction to a weaker-than-forecast U.S.
Armed faction enters major Libyan oil port
An armed faction entered a major Libyan oil terminal and a nearby airport on Friday, after attacking forces that have controlled the terminals since September, officials and residents said. The terminals at Es Sider and Ras Lanuf are two of Libya's largest, with potential combined production capacity of about 600,000 barrels per day (bpd). The new uncertainty over their status could be a blow to Libya's hopes of further reviving its oil production. It was unclear who controlled the ports late on Friday.
Somali President Appoints Oil Firm Executive as PM
Somalia's newly elected president on Thursday appointed the country director of British firm Soma Oil and Gas as the new prime minister, raising questions about possible conflicts of interest in the Horn of Africa country. President Mohamed Abdullahi Mohamed, known as "Farmajo", named Hassan Ali Khaire as prime minister, state radio website Radio Muqdisho.net said. "The president has requested Somali citizens to work with the prime minister," the statement on Radio Muqdisho.net said.
Libyan Commander's Seizure of Oil Ports Risks New Conflict
Libyan forces loyal to eastern commander Khalifa Haftar said on Monday they had tightened their control over four major oil ports, casting a Western-backed project to unite Libya and revive oil exports into deep uncertainty. Haftar's forces met little resistance as they seized the terminals at Ras Lanuf, Es Sider, Zueitina and Brega in an operation launched on Sunday, displacing a rival armed faction aligned with the U.N.-backed Government of National Accord (GNA) in Tripoli.
Eastern Libyan Commander's Forces Seize Key Oil Ports
Oil port attacks risk sparking wider conflict; Libya crude output hovering around 200,000 bpd. Forces loyal to east Libyan commander Khalifa Haftar on Sunday seized at least two key oil ports from a rival force loyal to the U.N.-backed government, risking a new conflict over the OPEC nation's resources. Ahmed al-Mismari, a spokesman for Haftar's self-styled Libyan National Army (LNA), said its fighters had full control of Es Sider…
Libya Oil Guards Say Closed Two Oilfields over Payment Delays
A Libyan armed force controlling some of the country's southern oilfields has stopped pumping at two of them because the government has not paid the funds needed to maintain security operations, a brigade commander said on Tuesday. The closures underscore the new Libyan government's complex task in reviving oil production, which has been battered by strikes, protests and Islamist militant attacks since the fall of Muammar Gaddafi in the 2011 uprising.
Libya Oil Guards to Close Two Oilfields
A Libyan armed force controlling some of the country's southern oilfields will close two of them down because the government has not paid the funds needed to maintain security operations, a brigade commander said on Tuesday. The closure underscored the new Libyan government's complex task in reviving oil production, which has been battered by strikes, protests and Islamist militant attacks since the fall of Muammar Gaddafi in the 2011 uprising.
Algeria's Tiguentourine Gas Plant Fully Back online after Attack
Algeria's Tiguentourine gas plant is ready to come fully back online for the first time since a deadly militant attack in 2013, General Manager Kamel Aoues said on Saturday. "Full production is for the coming days, all tests have been passed successfully," Aoues told Reuters during a press visit to the site. The plant, 1,600 km (995 miles) south east of the capital Algiers, is operated by Algerian state energy firm Sonatrach, BP and Statoil.
Yemeni Forces Seize Main Oil Terminal From al Qaeda
Yemeni government forces and their Emirati allies took back control of the country's largest oil export terminal from al Qaeda on Monday, security officials said, a day after routing the militants from their nearby stronghold. The lightning advance is a major shift in strategy for the Saudi-led coalition forces, which for over a year have focused their firepower on the Iran-allied Houthis who had seized the capital Sanaa and driven the government into exile.
No More 'Free' Saudi Money for Egypt
Saudi Arabia's financial support for strategic ally Egypt will no longer involve "free money" and will increasingly take the form of loans that provide returns to help it grapple with low oil prices, a Saudi businessman familiar with the matter said. "This is a change in strategy. Return on investment is important to Saudi Arabia as it diversifies sources of revenue," the businessman told Reuters on Friday during what has been described as a "historic" visit to Cairo by Saudi King Salman.
Saudis Commit $20bln to Finance Egypt's Energy Needs
Saudi Arabia is expected to sign a $20 billion deal to finance Egypt's petroleum needs for the next five years and a $1.5 billion deal to develop its Sinai region, two Egyptian government sources told Reuters on Tuesday. The agreements are tabled to be signed on Thursday during a visit to Cairo by Saudi Arabia's King Salman, a rare foreign trip. Saudi Arabia, along with other Gulf oil producers, has pumped billions…
Al-Qaeda's Claims Attack on Algerian Gas Plant
Al Qaeda's North Africa branch has claimed responsibility for Friday's rocket-propelled grenade attack on an Algerian gas plant operated by Norway's Statoil and BP as part of its "war on the Crusader interests everywhere". The attack caused no casualties or damage but forced the facility to be closed as a precaution, though state energy company Sonatrach said Algeria's gas production had not been affected. "This operation has destroyed your claims to have defeated 'terrorism' as you like to describe it…
Militants Attack Algerian BP/Statoil Gas Plant
Militants attacked an Algerian gas plant operated by Norway's Statoil and BP with rocket-propelled grenades on Friday, causing no casualties or damage but forcing the facility to be closed as a precaution. Algeria's energy infrastructure is heavily protected by the army especially since the 2013 Islamist militant attack on the In Amenas gas plant, also operated by BP and Statoil, during which 40 oil workers were killed.
