Tag: Africa

Halliburton lays off 1,000 employees in Eastern Hemisphere

HOUSTON — Oil field giant Halliburton said Thursday it is laying off about 1,000 employees across multiple regions in the Eastern Hemisphere, effective immediately, a day after a company executive said it expects a $75 million restructuring charge in the fourth quarter.  More »

Nigeria’s allure dulled by oil price, Boko Haram

Seven months since the government rebased its economy to claim it was Africa’s largest, at about $523 billion, the central bank has devalued its currency and pushed the benchmark interest rate to a record 13 percent.  More »

China seen overtaking U.S. as world’s biggest oil user

Growth in oil demand to 2040 will also be driven by India, Southeast Asia, the Middle East and sub-Saharan Africa, the IEA said.  More »

Layne Christensen to pay SEC $5.13M over bribery allegations

The Securities and Exchange Commission alleged the Woodlands-based company had spent nearly $800,000 to pay off foreign government officials in Mali, Guinea and the Democratic Republic of the Congo.  More »

Shell makes deepwater gas discovery in Gabon

Royal Dutch Shell today announced a discover off the coast of Gabon but says it will need to conduct further analysis to determine just go much gas is present.  More »

Trinidad refinery swaps crude sources on Ebola scare

The decision follows the refusal of workers from Petrotrin, which operates Trinidad’s sole refinery, to assist with the berthing of a tanker that arrived in Trinidad waters.  More »

Halliburton execs point to U.S. shale as profits leap 70 percent

U.S. shale plays have become laboratories for experiments with more production stages, more sand and, in West Texas, a lot more horizontal rigs – a development Halliburton executives say has required an unprecedented level of oil-field service intensity.  More »

Statoil announces Tanzania gas discovery

The Norwegian energy company has had a presence in Tanzania since 2007.  More »

Marathon, Noble announce exploration contracts in offshore Gabon

Houston-based oil and gas independents Marathon Oil and Noble Energy announced separate deals with the government of Gabon to explore in deep water off the coast of the West African nation.  More »

Terminals startup Zenith Energy gets $600 million infusion

The Kinder Morgan executive who built one of the largest U.S. energy terminal businesses is now looking beyond the nation’s shores to build infrastructure in the developing world.  More »

Report reveals top regions for energy job growth

Hiring in the oil and gas industry rose globally in the first quarter of 2014, led by Africa, Russia and North America, according to the Hays Oil & Gas Job Index.  More »

Oil rises to four-week high, 3 percent gain for May

The price of oil rose to a four-week high Monday.  More »

East Africa has gas, but how to monetize it is another question

Despite the enthusiasm surrounding natural gas discoveries off the coasts of Mozambique and Tanzania, more work must be done to figure out how, exactly, they’ll be monetized, an IHS consultant said Thursday.  More »

Drillers and doctors join forces to find oil and save babies

Chevron and other oil companies develop social responsibility plans as a way to integrate into countries where they work. But critics say the approach skirts deeper problems in developing nations.  More »

South Africa oil-stake demand risks derailing new industry

South Africa’s plans to muscle in on new oil and gas ventures threaten to derail a fledgling industry, undermining state efforts to safeguard energy security and curtail imports.  More »
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