The top energy official from Africa’s second-largest oil producer this morning downplayed fears about widespread oil supply disruptions due to political unrest in the Middle East and North Africa.  More »

While political turmoil in the Middle East and North Africa will bring new challenges to oil companies operating there and is driving oil prices higher, it’s inaccurate to view other nations in the region as dominoes ready to fall, speakers said Tuesday at a global energy conference.  More »

U.S. policy must be culturally attuned to sharp differences in each country and avoid easy comparisons to past transitions of power in places like Iran and Eastern Europe, energy industry observers said.  More »

Oil prices continued to set new post-recession highs Monday as forces loyal to Moammar Gadhafi pounded rebels near a key oil port in Libya. It’s unclear how long the country’s oil exports will be cut off, and traders prepared for a worst-case scenario in which world supplies would be under pressure for months.  More »

Sure there’s turmoil aplenty in North Africa, but U.S. oil prices might see some downward pressure as a major investor in oil futures, the United States Oil Fund, has to rollover its position this week.  More »

With crude prices bid up so much, traders are left with a dilemma – to be in the crude oil trade, players basically either have to take delivery, or rollover contracts and options comes expiration time.  More »

Oil field services firm Weatherford moved its headquarters to Switzerland a few years ago to avoid paying higher tax rates as a U.S. corporation. The firm may also have shed its ability to accurately account for its tax liabilities. Late Tuesday it reported more than $500 million in income tax errors.  More »

The head of Libya’s state oil company said today that all oil installations in the restive North African country are undamaged. (Via Upstream Online)  More »

By Dian L. Chu I came across an interesting editorial at Houston Chronicle dated Feb. 26 written by Yale Graduates Energy Study Group discussing energy security and independence. In the article, the authors propose a federal policy (the “limits” policy) to withdraw U.S. crude and products imports from the world oil market, for example, in a 10-year [...]  More »

Libya’s oil chief said Monday that production had been cut by about half and argued it was safe for foreign oil workers to return after a mass exodus sparked by Moammar Gadhafi’s increasingly violent campaign to retain control of the country.  More »

By Dian L. Chu Crude oil market has been on a wild roller coaster ride ever since riots started escalating in Egypt and Libya. The latest Libyan supply disruptions sent WTI futures surging above $103 a barrel in New York on Thursday, Feb. 24, while Brent oil in Europe was also closing in on $120 a barrel. [...]  More »

Oil prices wavered Friday as refineries in Europe prepared for a sustained loss in high quality Libyan crude. The Libyan rebellion has all but shut down exports from the oil-rich nation, and traders say it’s hard to gauge how much world supplies — and prices — will be affected as similar uprisings unfold in North Africa and the Middle East.  More »