Mart Resources to spud UMU-11 development well in August after several delays

Mart Resources and its co-venturers, Midwestern Oil and Gas Company (Operator of the Umusadege field) and SunTrust Oil Company have provided an update on Umusadege...

Shell signifies intention to buy Chevron’s Nigeria oil blocs

Oil giant, the Royal Dutch Shell Plc has notified the Nigerian government that it would like to buy some of U.S. firm, Chevron Nigeria’s...

Oil super majors must get back to basics to stay in the game

The second-quarter results of the oil supermajors make for dismal reading. BP's profit was down 25 per cent, Chevron's 26, ExxonMobil's 57, and Shell's 60...

Further delays for Oyo-7 off Nigeria

The US duo of Allied Energy and Camac Energy will have to wait another two to four weeks to spud their Oyo-7 well off...

Platts begins publishing new daily assessment for 5 West African crude grades

Platts, a leading global energy, petrochemicals and metals information provider and top source of benchmark price references, has begun publishing daily price assessments for...

Chevron’s second quarter profits dive

Chevron’s second-quarter earnings were cut by 25% year on year as lower prices and production as well as higher operating costs dented the bottom...

ExxonMobil experiences drop in profits by 57%

ExxonMobil has reported a 57% drop year-on-year in second quarter profits. The US supermajor posted net incomes of $6.9 billion for the past three months,...

Nigeria earned $69bn from Shell in four years – Mutiu Sunmonu

Shell companies in Nigeria, SCiN, have raked in revenues worth $69 billion into Federal Government’s coffer in four years, the Managing Director of Shell...

Philippines looks at possibility of oil imports from Nigeria

The Philippines is looking at the possibility of importing crude oil from Nigeria, the Department of Foreign Affairs said. This cropped after a meeting...

Shell invested N45bn in the Niger Delta in 2012

Shell Petroleum Development Company Plc, SPDC, said it invested $281.2 million (N44.99 billion) in the Niger Delta in 2012. Speaking at the launch of its...

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