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The new Libyan flag flutters outside an oil refinery in Zawiya on September 23, 2011.  (LEON NEAL/AFP/Getty Images)

East Libya seeks to grab oil contracts amid fight with rivals

Libya, with Africa’s largest oil reserves, pumped about 1.6 million barrels a day of crude before a 2011 rebellion ended Muammar Qaddafi’s 42-year rule.
The Eirik Raude semi-submersible rig operates on the Jubilee Field offshore Ghana. (Photo: Tullow Oil)

Tullow jumps as Kosmos says Ghana oil project still on course

The Tweneboa, Enyenra and Ntomme, or TEN, project is 75 percent complete and remains on budget and on track, Kosmos Energy Ltd. said in a statement Monday.
(Chevron photo)

Chevron starts production offshore Central Africa

Located 65 miles offshore the African coast, the Lianzi Field is situated in a zone between the Republic of Congo and the Republic of Angola, Chevron’s first development in Congo and its cross-border offshore project in the region. It’s expected to produce an average of 40,000 barrels of crude per day.
Categories: Africa, Crude oil
An oil worker walks by an oil pump during a sandstorm in the desert oil fields of Sakhir, Bahrain

FILE - In this Thursday, Jan. 8, 2015 file photo, an oil worker walks by an oil pump during a sandstorm that blew in, in the desert oil fields of Sakhir, Bahrain. Across a Mideast fueled by oil production, low global prices have some countries running on empty and scrambling to cover shortfalls, even as more regional crude is on tap to enter the market.(AP Photo/Hasan Jamali, File)

Former IEA chief: Oil will stay below $100 until 2020 because of U.S. shale boom

“Price will not go up to a hundred as easily as before,” the former IEA head said.
(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.