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…
