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Saudi Aramco profits dive 73% as coronavirus batters oil demand

Energy giant Saudi Aramco said on Sunday its second-quarter profits plunged a massive 73 percent due to sharply lower oil prices as the coronavirus crisis undercuts global demand.

Exxon Mobil, Chevron report losses on weak oil prices

Exxon Mobil and Chevron suffered losses in the latest quarter as the weakened economic outlook due to the coronavirus pandemic pressures the industry to double down on cost cuts.
Nigeria’s Bonga crude oil export terminal will close for routine maintenance, according to a port source.

Nigeria’s Bonga oil export to shut for maintenance – port source

Nigeria’s Bonga crude oil export terminal will close for routine maintenance, according to a port source.

UK court dismisses Nigeria’s $1 billion Malabu suit against Shell, Eni

A UK court has ruled that Nigeria’s $1 billion suit against Royal Dutch Shell and Eni, oil giants, cannot go on because it does not have jurisdiction over the case.
The number of active oil rigs in the country fell by 23.8 per cent to 16 in April amid the coronavirus-induced collapse in prices and demand for crude.

Nigeria’s active oil rigs fall by 24 percent

The number of active oil rigs in the country fell by 23.8 per cent to 16 in April amid the coronavirus-induced collapse in prices and demand for crude.

Shell cuts dividend for first time since second world war

Royal Dutch Shell on Thursday cut its dividend for the first time since the 1940s after a first-quarter loss – and warned virus-ravaged oil prices will take time to fully recover.

Oil price rises to $25 as US inventories drop

Crude oil price is set to end the nightmare of producers as it rose for the second day thursday by 13.8 per cent to $25.65 per barrel.

Shell cuts dividend for first time since 1940s as oil demand collapses

Royal Dutch Shell RDS cuts its dividend for the first time in 80 years and suspended the next tranche of its share buyback programme following the collapse in global oil demand due to the coronavirus pandemic.

Nigeria loses bid to postpone London Malabu trial

The Nigerian government on Monday lost a bid to postpone a massive claim against oil giants, Eni and Shell, in a London court.

Shell reports 41% rise in onshore Nigeria oil spills due to sabotage

Royal Dutch Shell’s onshore Nigeria subsidiary saw a 41% rise in the number of crude oil spills due to theft or pipeline sabotage in 2019, the group said in its annual report.

Shell: Court gives garnishee order on First Bank account with central bank over N182.7...

Justice Inyang Ekwo of the Federal High Court, Abuja, has made a garnishee order instructing the Central Bank of Nigeria (CBN) to pay the people of Ejama Community in Eleme Local Government Area of Rivers State the sum of N182.7 billion.
Royal Dutch Shell’s Bonga oilfield in Nigeria will undergo maintenance in March and April, though the impact on production and exact dates are still being finalised, a spokesman said.

Shell’s Bonga oilfield in Nigeria to undergo maintenance – spokesman

Royal Dutch Shell’s Bonga oilfield in Nigeria will undergo maintenance in March and April, though the impact on production and exact dates are still being finalised, a spokesman said.

Total planning to sell stake in major oil block in Niger Delta

Total is seeking to sell its 12.5 per cent stake in a major deepwater oilfield off the coast of Nigeria, industry and banking sources have said.
Abubakar Malami

Federal government alleges cheating on oil profits, seeks $62 billion from five firms

The Federal Government says it expects about $62bn from multinational energy conglomerates that include Royal Dutch Shell, ExxonMobil, Chevron, Total and Eni, citing a 2018 Supreme Court ruling it says enables it to review and adjust oil production revenue sharing agreements, Reuters has reported.

US drops investigation into Shell over Nigerian oil deal

Royal Dutch Shell said on Wednesday that it had been informed by the U.S. Department of Justice that it had closed its inquiry into Shell over the 2011 $1.3 billion acquisition of a Nigerian offshore oilfield.

170,000 Fishermen hopeful of victory in suit with Shell

About 170,000 fishermen from 350 communities in Delta, Bayelsa, Ondo states have expressed hope of victory in a case between it and oil giant, Shell that has been in court since 2011.
Donald Trump and Xi Jinping

Markets rally after Donald Trump and Xi Jinping agree to resume talks

Stock markets have rallied after the US and China agreed to restart trade talks, easing fears over the escalation of a damaging dispute between the world's two biggest economies.

Shell, Exxon Mobil eye re-entry into Somalia’s upstream sector

Royal Dutch Shell and Exxon Mobil are looking to reenter the market in Somalia ahead of an oil block bid round taking place later this year, the country’s oil ministry said in a statement.

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Lagos Assembly proposes N20 million licence fee for lottery, betting operators

The Lagos State House of Assembly says a bill that will make operators of lottery, pools and betting in the state to pay N20 million as licence fees to the state government is underway.
Facebook is launching a new digital platform that will let event organizers create paid online events to try to fill the gap created by the COVID-19 pandemic, the social media giant announced on Friday.

Facebook accuses the ‘Apple tax’ of stifling its plan to help struggling small businesses

Facebook is launching a new digital platform that will let event organizers create paid online events to try to fill the gap created by the COVID-19 pandemic, the social media giant announced on Friday.
The Managing Director of Cross River Basin Development Authority has been suspended from office by the board of the agency.

Cross River Basin Authority managing director suspended

The Managing Director of Cross River Basin Development Authority has been suspended from office by the board of the agency.

PDP reconstitutes Kaduna caretaker committee

The National Working Committee (NWC) of the Peoples Democratic Party (PDP), acting on behalf of the National Executive Committee (NEC), has reconstituted the Kaduna State Caretaker Committee.
Miley Cyrus

Miley Cyrus: How I lost my virginity to Liam Hemsworth at 16

American singer and songwriter, Miley Cyrus, says she lost her virginity to her ex-husband, actor Liam Hemsworth at the age of 16.