History of the oil shale industry in the United States Act of 1985 which among other things abolished the United States' Synthetic Liquid Fuels Program. Union finally bowed to continued low oil prices and closed the project in 1991, rather than complete the US$2 billion project. Over several decades, some of the world's largest oil companies (Amoco, Arco, Chevron, Exxon, Gulf, Phillips, Shell, Sohio, Sunoco, Texaco, Union Oil) had spent billions of dollars to start an oil shale industry in the Green River Formation, the world's largest oil shale resource. But in the end, cheap petroleum prices drove oil shale out of business. Even after the oil shale bust, some
MTN $5.2 billion fine plan. The fine of $5.2 billion was reduced to $1.7 billion. According to africanews, "For the first year, they paid N80 billion, after paying the initial N50 billion, and they will have to pay for three years until they will complete the N330 billion". The telecommunication company recently paid additional 30 billion Naira to offset part of the initial fine of 330 billion Naira fined. MTN $5.2 billion fine MTN Group, a major multi-national telecom company based in Johannesburg, South Africa, was handed down a $5.2 billion fine by the Federal Government of Nigeria through the Nigerian Communications Commission (NCC).