By Javier Blas | – In the words of Royal Dutch Shell Plc’s boss Ben van Beurden, the fundamental logic behind his decision to buy BG Group Plc “always existed.” What pushed the US$70 billion deal over the finish line was that it had become “very compelling from a value perspective” after oil prices fell by half to US$50 a barrel. Ben van Beurden is unlikely to be alone among the chief executive officers of the world’s largest oil companies in thinking that valuations are …

By Abdelmalek Alaoui | – The U.S Africa Leaders’ Summit ended yesterday in Washington DC after three days of intense meetings and passionate debates. For many, this event will be remembered as the largest ever gathering of American and African leaders in history. During the event, some 50 heads of state and government as well as several hundred officials and CEOs had the opportunity to witness America’s attempt to come back strong in Africa. A decade after the U.S. progressively lost most of its leadership in Africa to China …

By Pinsent Masons | – The US is to step up support for Nigeria in reforming the country’s energy sector and paving the way to speed up development of the electricity market as part of moves to attract investors. Nigeria and the US have signed a memorandum of understanding (MOU) to increase electricity supplies in Nigeria and to coordinate the ongoing privatisation and regulation of the power sector. US ambassador to Nigeria James Entwhistle said the increased cooperation “will improve the lives of countless Nigerians and …

By Elaine Maslin| – Chevron’s leadership set out the oil major’s plans out to 2020 this week, including eyeing exploration opportunities offshore Greenland, to maintain its reserves hopper. Chevron is planning 20% production growth, from 2.6MMboe/d in 2013, to 3.1MMboe/d in 2017, with deepwater the focus offshore. Its capital spending, which peaked in 2013, will increase in upstream in 2014, to about $36billion, against an overall lower total spend, but flattening out in 2015-2016, +/- $1billion. Spending on business development would be cut completely in …

By Nick Cunningham  — Royal Dutch Shell is in the midst of a flurry of sell offs to fix its balance sheet, unloading billions of dollars of assets as quickly as it can. Shell reported fourth quarter earnings that were highly disappointing to its shareholders, posting a 71% decline in net-profit. It also reported that oil production declined by 5% in 2013, owed much to instability in the Niger Delta. Shell’s problems worsened this week – it was forced to shut down a major pipeline in …

By David Unger – Oil and gas multinationals record billions in profits, but a shifting energy landscape has taken its toll. Shell and Exxon Mobil posted disappointing earnings, further evidence the US oil boom isn’t boosting the usual suspects. Oil and gas production is booming in much of the world, but it’s not boosting Big Oil’s bottom line. As supplies of easily obtainable oil dwindle and prices remain flat, the world’s oil majors are getting less in return for the vast sums they invest on big, …

By Steve Okoekpen – At the end of 2010, African oil and natural gas reserves were estimated to be between 200 and 210 billion barrels of oil equivalent. The conventional forecasts see African oil supply growth continuing over the next 25 years, and the renewed global scramble for Africa’s more than 25 billion barrels of oil that will become available for export has intensified over the past decade. Those scrambling to secure and exploit this abundance of fossil fuels include former colonialists and major, energy-hungry economic super powers and emerging economic powers: China, the U.S, …