Energy, Billion | featured news

Africa's wealthiest man, Aliko Dangote, says he aims to invest up to $8bn in a major new oil refinery that would double Nigeria's current oil output.

General Electric Co is buying oilfield pump maker Lufkin Industries Inc for $2.98 billion, sharply increasing its presence in the fast-growing market to extract oil and natural gas from shale rock, the conglomerate said on Monday.

Rosneft is seeking to borrow up to $30 billion from China in exchange for possibly doubling oil supplies, making Beijing the largest consumer of Russian oil and further diverting supplies away from Europe.

A decade ago, Chandrakant's fishing village in India's financial capital Mumbai lived mostly by candlelight. What people did not have - electricity - they stole. A decade ago, Chandrakant's fishing village in India's financial capital Mumbai lived mostly by candlelight. What people did not have - electricity - they stole. It was easy enough to hook onto the two thin power lines that passed over the village and take a little for themselves.

China's top offshore oil producer CNOOC Ltd has entered into an agreement to buy Canada's Nexen Inc for about $15.1 billion, the Chinese company said on Monday.

A Baltimore County jury has ordered Exxon Mobil to pay more than $1.5 billion in damages involving an underground gasoline leak at a rural Maryland gasoline station.