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(AP Photo/HO, Shell)

Shell starts Nigeria offshore expansion of up to 50,000 barrels

Shell has a 55 percent stake in Bonga and operates what it says were the first deposits to be developed in Nigeria’s deep waters in 2005.
Nigeria's President Muhammadu Buhari, left, shakes hands with United Nations Secretary-General Ban Ki-moon as they meet during the 70th session of the United Nations General Assembly at U.N. headquarters, Monday, Sept. 28, 2015. (AP Photo/Craig Ruttle)

Nigerian president also plans to be oil minister

Nigeria is Africa’s biggest petroleum producer and is hard hit by halved prices for the oil that provides 80 percent of government income.
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

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
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

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.
(AP file photo/George Osodi)

Nigeria suffers ‘substantial’ revenue loss as oil prices fall

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.

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

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

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

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

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

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.