(AP Photo/HO, Shell)

DOJ: No charges for Houston company in FCPA investigation

on
The company said in a 2013 release that the investigation would look into “whether Hyperdynamics’ activities in obtaining and retaining the concession rights and its relationships with charitable organizations potentially violate the U.S. Foreign Corrupt Practices Act or U.S. anti-money laundering statutes.”
In this Wednesday Jan. 11, 2012, file photo, people line up to buy fuel at a government petrol station on the third day of nation wide strike following the removal of a fuel subsidy in Lagos, Nigeria. Nigerian airlines grounded flights Saturday, May 23, 2015, as a months-long fuel shortage worsened, aggravated by a strike disrupting fuel deliveries in Africa's biggest oil producer. Vehicles also were grounded. Normally bustling roads in Lagos, a metropolis of 20 million, were half-empty and gas stations closed Saturday. (AP Photo/Sunday Alamba, file)

Nigeria paying $800 million to oil suppliers to end crisis

on
The Independent Petroleum Marketers Association of Nigeria said the finance minister agreed Monday to pay a debt of $800 million to oil suppliers. It said companies started pumping oil again Tuesday and unpaid tanker drivers stopped striking.
Oil wells in the Franja del Orinoco region of Venezuela (Houston Chronicle)

Harvest Natural Resources stock spike could signal interest from a buyer

on
Harvest CEO James Edmiston said a sharp increase in the price of its battered shares could indicate a buyer is looming, but said the company has received no offers.
The Deepwater Millennium drillship  works on an Anadarko Petroleum Corp. project in the Rovuma Basin off the coast of Mozambique. (Anadarko Petroleum Corp.)

Anadarko picks contractors on major LNG project

on
Anadarko chose CB&I, both of which are headquartered in The Woodlands, as part of CB&I’s CCS engineering and construction joint venture with Japan-based Chiyoda Corp. and Italy-based Saipem.
(AP Photo/Hussein Malla)

Eni’s Libya output above pre-war levels at 300,000 barrels a day

on
The number cited is higher than the 280,000 barrels a day that Rome-based Eni produced in Libya before the ousting of former leader Muammar Qaddafi in 2011.
(Apache Corp.)

Apache has pumped almost 1 million barrels of oil from its Egypt fields since November

on
Apache has already spent $14 million to install production facilities at two fields in Egypt’s Western Desert.
(Photo credit should read PIUS UTOMI EKPEI/AFP/Getty Images)

Nigeria’s rating lowered by S&P as oil, politics hit economy

on
Africa’s largest economy, which derives 90 percent of export earnings and 70 percent of government revenue from oil, is struggling with Brent crude prices having halved since June.
A Sasol Ltd. employee enters the company's headquarters in Johannesburg, South Africa, on Monday. Sept. 13, 2010. Photographer: Nadine Hutton/Bloomberg

Sasol cutting 1,500 jobs to cope with low oil

on
The firm is cutting jobs through voluntary retrenchments or early retirements, and it has stopped hiring new workers and isn’t filling vacancies for now, Sasol CEO David Constable said in written statement Monday.
Categories: Africa, Workforce
(AP file photo/George Osodi)

Nigeria suffers ‘substantial’ revenue loss as oil prices fall

on
The continent’s largest economy has been hit by the halving in Brent crude prices since the middle of last year as the West African nation prepares for presidential elections next month.
(AP file photo/George Osodi)

Angola plans 25 percent budget cut as oil revenue plunges

on
Oil prices have slumped by more than half since June, threatening producers such as Angola, which relies on crude for almost all of its exports and more than two thirds of government income.