Cobalt International Energy used the Petroserv SSV Catarina Rig to drill the Lontra #1 discovery well off the coast of Angola.  (Cobalt International Energy)

Cobalt sells its offshore Africa assets for $1.75 billion

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Cobalt is unloading its 40 percent stake in two sizable blocks offshore of Angola in the deal that is expected to close by Jan. 1, subject to customary Angolan government approvals.
(Alexander Klein/AFP/GettyImages)

Algeria calls for non-OPEC output cut to stop oil price slump

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Algeria’s initiative to coordinate an OPEC response to tumbling crude prices had the backing of cash-strapped fellow members Libya and Venezuela.
Marine police officers hold pieces recovered from the helicopter which crashed into a lagoon at the Oworonshoki district of Lagos, on August 12, 2015.  At least four people were killed and six wounded when a helicopter plunged into a lagoon in Nigeria's commercial hub Lagos on August 12, emergency services said. (PIUS UTOMI EKPEI/AFP/Getty Images)

Oklahoma man killed in helicopter crash in Nigeria

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Marine police and fishermen calling for body bags raced to a dock Thursday and delivered the bodies of Capt. Joseph “Jay” Wyatt of Oklahoma and First Officer Peter Bellow of Nigeria, according to the helicopter’s owner, Bristow Group of Houston, Texas. A statement from the company did not give Wyatt’s home town.
(AP file photo/George Osodi)

Helicopter flying from oil rig crashes in Nigeria, killing 4

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Spokesman Yakubu Dati of the Federal Airports Authority of Nigeria said the helicopter belongs to Bristow, a Houston, Texas-based firm that charters helicopters to oil and gas companies.
A General Electric Co. employee assembles a component for a gas turbine at the company's factory in Belfort, France. (Fabrice Dimier/Bloomberg)

GE books $2.5 billion African orders from oil to locomotives

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GE expects to seek financing for projects worth at least $1.5 billion in Africa each year as it expands its footprint in a region increasing investment in infrastructure development, and exploitation of its natural resources.
Categories: Africa, Crude oil
CB&I Chairman and CEO Philip K. Asherman, May 23, 2014 in The Woodlands, TX. (Eric Kayne/For the Chronicle)

CB&I reports net profit, new contracts

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CB&I said it made a net profit of $169.5 million, or $1.55 million per diluted share, during the April through June period, which was up from $142.4 million during the same time last year when the company was struggling more financially. The total revenues were down slightly at $3.2 billion from $3.3 billion last year.
Logo of Houston-based independent oil and gas company Harvest Natural Resources Inc.

Embattled Houston energy company gets financial lifeline, new partnership

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Harvest, a Houston-based company that focuses on exploration in Venezuela and elsewhere, is giving up three of its seven board seats and nearly half of the company to CT Energy in exchange for at least $32.2 million in proceeds and a long-term strategic partnership.
(AP Photo/HO, Shell)

DOJ: No charges for Houston company in FCPA investigation

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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

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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

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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.