FG Stalls Shell’s $1.3 billion Oil Asset Sale to Renaissance Group – Report The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has rejected the proposed $1.3 billion sale of onshore oilfields to the Renaissance Group, citing the buyer’s lack of qualification to...

Nigeria Ready for Business, Consistent Policy - Tinubu President Bola Ahmed Tinubu has assured the business community of his government’s commitment to policy consistency and better business climate to attract investment. The President spoke Monday while receiving the delegation of the Shell Petroleum Development Company (SPDC)...

Oil Spills: Nigeria Needs $12bn for Clean Up - Report The Bayelsa State Oil and Environmental Commission has disclosed that Nigeria, would need $12 billion to clean up several years of oil spills in the Niger Delta region. This was revealed in a reports by the...

Shell Records Profits of $39.9bn, Highest in 115 Years Oil and gas giant Shell has announced a huge profit record of $39.9bn (£32.2bn) for 2022, the highest in its 115-year history. Following Russia’s invasion of Ukraine, the company recorded annual profits after energy prices surged last...

Shell and other oil giants leave Nigeria, as Nigerian billionaires purchase assets Recent months have seen major changes in oil asset ownership in Nigeria, especially in the upstream sector. In Nigeria's oil industry, Shell, Exxon Mobil, Chevron, Agip, Texaco and Total brand names were synonymous...

Italian Court Acquits Eni, Shell Of Corruption In OPL 245 Deal       An Italian court has acquitted Shell and Eni of corruption charges in the $1.1 billion OPL 245 deal in Nigeria. Marco Tremolada, the judge, delivered the decision on Wednesday. Italian prosecutors had alleged corruption in the...