by  Bloomberg Tsuyoshi Inajima Oil fell after rising the most in almost two months as major oil exporters prepare to discuss output policy amid rising price volatility. (Bloomberg) -- Oil fell after rising the most in almost two months as major oil exporters prepare to discuss output policy amid rising price volatility. Futures in …
Nigeria could lose $6bn from ‘corrupt’ oil deal linked to fraud
By Russell PadmoreBusiness reporter, BBC World Service Image copyrightGETTY IMAGES A court in Milan is considering charges of corruption against Eni and Shell in a controversial oil deal that led to Nigeria losing an estimated $6bn. The campaign group Global Witness has calculated the OPL 245 deal in 2011 deprived Nigeria of double its annual …
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Armed Pirates Attack LNG Tanker Off Nigeria’s Coast
by  Bloomberg Elisha Bala-Gbogbo | Armed pirates chased and shot at a liquefied-natural gas tanker off Nigeria’s coast, the second time in as many weeks a vessel has been attacked in the area. At least nine assailants made an unsuccessful attempt to board the vessel on Nov. 6, the International Maritime Bureau said in a …
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African Petroleum to walk away from Sierra Leone acreage
Independent oil and gas exploration company African Petroleum (AP) has decided to exit its two operated licenses in Sierra Leone as a result of its choice not to commit to drilling an ultra-deep water well. AP said on Thursday that the company will relinquish its interests in licenses SL-03-17 and SL-4A-17, where it holds a 100% interest, …
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NOPEC to Take Gloves Off, Production Cuts In 2019? by  Cyril Widdershoven Rigzone Contributor | OPEC, in cooperation with Russia, are currently discussing the option to put another production cut in place. OPEC, in cooperation with non-OPEC member Russia, are currently discussing the option to put another production cut in place. During the recent …
Libya Could Be Exempt From Future Cuts in Crude Output
by  Bloomberg Salma El Wardany | Libya's top oil chief expects OPEC and allied producers to exempt the strife-torn North African country from any future cuts in crude output. (Bloomberg) -- Libya’s top oil chief expects OPEC and allied producers to exempt the strife-torn North African country from any future cuts in crude output. …
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Sub-Saharan Africa Capex Could Hit $24B in 2019
by  Andreas Exarheas Rigzone Staff | CAPEX among Sub-Saharan Africa national oil companies and SSA-focused international oil and gas companies is set to register a 13.1% growth in 2019. Capital expenditure among Sub-Saharan Africa (SSA) national oil companies and SSA-focused international oil and gas companies is set to register a 13.1 percent growth in …
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Oil Options Traders More Bearish Than in 2014 Crash
by  Bloomberg Alex Longley | Oil options traders have turned more bearish than when prices plunged back in 2014. (Bloomberg) -- Oil options traders have turned more bearish than when prices plunged back in 2014. The premiums they’re paying for bearish put options over bullish calls over the next 12 months has reached the …
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E. Guinea minister orders operators to cut ties with Subsea 7
Energy minister of Equatorial Guinea has ordered oil and gas companies working in the country to cancel all contracts with Subsea 7, accusing the offshore services company of not complying with the country’s local content rules. Minister Gabriel Mbaga Obiang Lima / Image by APO GroupAs per the statement issued by the E. Guinean Ministry …
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OPEC Will Struggle to Muster Friends for Oil Cuts
by  Bloomberg Julian Lee | OPEC will struggle to carry all of its partners from outside the group along with it as it looks to extend output cuts into a third year, writes Bloomberg oil strategist Julian Lee. (Bloomberg) -- OPEC will struggle to carry all of its partners from outside the group along …
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