Nigeria, holder of Africas biggest fossil-fuel reserves, is staring into a $5 billion budget hole due to the oil-price swoon. It also confronts an emboldened guerrilla movement in the southern Niger Delta, the oil-producing region that has attracted the likes of Royal Dutch Shell Plc and Chevron Corp.
January 13th, 2009:
Nigeria staring into $5 billion budget hole due to the oil-price swoon
Green energy market to grow to £50bn
A market worth more than £50bn will be created for new wind, wave and tidal power equipment in British waters by 2020, the head of the new government-backed energy research and development group has said.
Shell to Pay $1 Million Penalty for Clean Water Act Violations in Puerto Rico
This agreement marks a solution to a longstanding series of serious violations, said EPA Regional Administrator Alan J. Steinberg. Not only is Shell paying for these violations with its checkbook, it is taking steps to avoid future problems.
Nigeria: NNPC, Algeria Hold Talks With Shell Over Trans-Sahara Gas Project
The Nigerian National Petroleum Corporation (NNPC), on behalf of the Federal Government, at the weekend held high level discussions with their Algerian counterparts and the Netherlands to explore prospects for a partnership Shell for the development of a trans-Saharan gas pipeline project that convey natural gas from Nigerian to Europe across the Sahara. , Algerian official media reported.
Nigeria’s gas profits ‘up in smoke’
Shell officials say it is the government's fault that gas flaring still happens.
Exxon Goes Shopping?
Exxon now has money to burn, a move possible With $40 billion in cash, Exxon Mobil could be poised to buy out or merge with one of its struggling competitors. Oil giants like Chevron, BP, Royal Dutch Shell, ConocoPhillips and Exxon itself face weak fourth-quarter profits and oil-prices remain depressed, so a major merger or acquisition is possible, analysts say.