Shell cuts $9bn from capex

Shell is chopping its capital expenditure this year as it sets its sights on restructuring its unconventionals activities in North America. The Anglo-Dutch supermajor could...

Decline in IOCs’ capex amid growing oil, gas discoveries

While large discoveries of oil and gas reserves from conventional and shale sources are emerging from many parts of the world, a growing number...

Oil and gas exploration activities in Chad still ongoing – Alison-Madueke

The Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, on Tuesday said that the oil and gas exploratory activities in Chad were still ongoing. This is...

Nigerians invested $1.6b to acquire rigs in five years

Nigerians in the past five years have invested over $1.6 billion to acquire land rigs, swamp rigs and jack-ups for the development of the...

Rising profile of Nigeria’s crude oil production

Nigeria’s crude oil production has continued to be on the upward swing in the past few months, after several months of flooding and theft...

Chevron reaffirms strategies, highlights performance, portfolio and future growth

“World energy demand continues to grow and the outlook for the energy business remains excellent,” said John Watson, Chevron’s chairman and CEO. Watson added,...

Deepwater rig market in pullback mode – Analysts

The global deepwater rig market, which was booming for the past few years, appears to be pulling back, with contract dayrate expectations for even...

Sale of OMLs: Brittania-U frustrating suit against Chevron —Seplat

A Nigerian oil company, Seplat Petroleum Development Company, SPDC, Limited, yesterday, accused another indigenous oil exploration and production company, Brittania-U Limited, of employing delay...

The decline of OPEC and what it means for oil

It is the world's most famous cartel. OPEC currently controls almost three quarters of the world's crude oil, a commodity that, as of right...

Russian oil firms lock horns over lucrative OML29

OML 29, which holds the site of Nigeria’s first discovery, Oloibiri field in addition to Nembe Creek field, Santa Barbara and Odeama Creek fields,...

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