Bloomberg South Africa said it will proceed with a court case to invalidate the sale in 2015 of its strategic oil stocks, despite crude prices recently dropping below what traders paid at the time. The $280 million deal for 10 million barrels of South Africa’s reserves, criticised as a rip off when oil prices were in a slump, was sold ...

Bloomberg Four years after devastating wildfires burned down sections of Fort McMurray, the city in the heart of Canada’s oil sands is now grappling with two new emergencies at the same time: the coronavirus pandemic and flooding. Just as people were sheltering at home to avoid the virus, a 25-kilometre (16-mile) natural dam created by melting ice on the Athabasca ...

Bloomberg Continental Resources Inc is being sued by a closely held oil driller that accused the shale giant of walking away from a $200 million deal following an historic collapse in crude prices. Casillas Petroleum Resource Partners and Continental signed a so-called purchase and sale agreement on March 6, according to the lawsuit, one trading session before crude tumbled about ...