Government officials have begun to review the proposed changes to the Mineral and Petroleum Resources Development Act.
Government will take a stake in a new gas and oil venture, but energy companies say it could lead to significant delays in planned investment.
Latest Shell oil spill is comparable to the Exxon Mobil spill of 1998, say authorities as emergency measures are put in place to protect the coast.
Energy giants Chevron, Shell and ExxonMobil on Monday agreed to develop Australia’s massive Gorgon field.
The secretive world of Middle East oil deals will be thrown open in Baghdad next week when a contract auction is broadcast live.
Venezuelan President Hugo Chávez said on Sunday oil prices could hit per barrel if US oil company Exxon Mobil again freezes Venezuelan assets.
A string of deals with foreign firms to plug financing gaps in Nigeria’s oil industry will help unlock significant shut-in potential in the world’s eighth biggest exporter.…
The United States Supreme Court said on Monday that it cannot intervene in an important dispute over the rights of apartheid victims to sue US corporations in US courts because…
Record oil prices should mean boom times for Nigeria’s oil industry, but rising militant violence, labour unrest and years of government neglect cast a shadow over its future.…
Oil set a new record high of a barrel on Tuesday, the latest spurt in an advance that has seen prices double over the past 12 months. Supply disruptions in Nigeria, where a…
Rebels who have stepped up attacks on Nigeria’s oil industry in the last month said on Sunday they were considering a ceasefire appeal by United States presidential hopeful…
Royal Dutch Shell shut down more of its production in Nigeria after a fresh militant attack on Saturday on a flowstation in the restive Niger Delta, where local militants have…
Oil hit a new record near a barrel on Monday, boosted by a string of bullish factors that include a United Kingdom refinery strike and disruptions to Nigeria’s output that…
Western oil giants are poised to enter southern Iraq to tap the country’s vast reserves, despite the ongoing threat of violence, according to British Prime Minister Gordon…
Oil retreated on Wednesday, after surging nearly 5% to a record above a day ago, on fresh influx of capital into commodities, with focus turning to United States stocks data that…
Venezuelan President Hugo Chávez stopped oil exports to Exxon Mobil on Tuesday, escalating a multibillion-dollar fight with the United States company two days after threatening…
BHP Billiton launched a hostile ,4-billion bid for rival Rio Tinto in a move that could trigger a Chinese-led counterbid in the world’s second biggest corporate takeover.…
Southern California is sunny, the French Riviera is sunny, but Nasa says the middle of the Pacific Ocean and the Sahara Desert in Niger are the sunniest — and the information…
Rio Tinto’s rejection of a -billion all-share offer from BHP Billiton is likely to trigger rival bids from resource companies awash with cash from record commodity and stock…
A United States appellate court on Friday allowed claims brought by victims of apartheid against dozens of major companies to go forward, saying a lower court erred in ruling it…
