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Africa

(AP file photo/George Osodi)

Nigeria suffers ‘substantial’ revenue loss as oil prices fall

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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.
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Commentary: Protecting World Heritage sites should be oil industry resolution for 2015

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Only Royal Dutch Shell and Total have publicly committed to not carry out or support extractive activities in World Heritage sites.
(Johnny Hanson/Houston Chronicle file photo)

Halliburton lays off 1,000 employees in Eastern Hemisphere

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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.
In this  2010 file photo, men walk in an oil slick covering a creek near Bodo City in the oil-rich Niger Delta region of Nigeria. (AP Photo/Sunday Alamba, File)

Nigeria’s allure dulled by oil price, Boko Haram

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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.
A driver refuels her car at a gas station of PetroChina, a subsidiary of CNPC (China National Petroleum Corporation), in Luoyang city, central China's Henan province, 19 August 2014. (File, Bloomberg)

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

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Growth in oil demand to 2040 will also be driven by India, Southeast Asia, the Middle East and sub-Saharan Africa, the IEA said.
The Securities and Exchange commission charged a Houston oil-and-gas exploration and production company with making false claims about its oil reserves.

Layne Christensen to pay SEC $5.13M over bribery allegations

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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.
photo via Royal Dutch Shell

Shell makes deepwater gas discovery in Gabon

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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.
Kevin Ramnarine, minister of energy and energy affairs, Republic of Trinidad and Tobago. (Photo from T and T website 5/1/2013)

Trinidad refinery swaps crude sources on Ebola scare

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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.
Halliburton CEO Dave Lesar (Melissa Phillip/Chronicle)

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

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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.
The head office of Statoil in Stavanger, Norway.  (AP Photo / Kent Skibstad, NTB scanpix, File)

Statoil announces Tanzania gas discovery

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