The Nigeria Extractive Industries Transparency Initiative (NEITI) has recovered $4.85 billion from unpaid liabilities owed by oil and gas companies in the country.

World number-three steelmaker Angang Steel lost nearly $1 billion last year, it said in a stock exchange filing, as the Chinese giant was hit by domestic overcapacity and poor demand.

China’s National Offshore Oil Corporation (CNOOC) said Monday it has discovered a major oilfield in the eastern South China Sea, with proven reserves exceeding 100 million tonnes. The Huizhou 19-6 ...