Bloomberg A consortium of Cairn Energy Plc, Pharos Energy Plc and Egypt’s Cheiron Petroleum has proceeded to a second round of bidding for Royal Dutch Shell Plc’s onshore assets in the African country, in a deal that could value the business at as much as $1 billion, people familiar with the matter said. Shell is proceeding with the planned sale ...

Bloomberg Nigeria is ending decades of subsidies paid to ensure uniform gasoline prices in Africa’s biggest oil producer with crude prices at historical lows, the state-owned energy company said. Official gasoline prices have been cut twice in as many weeks, a move the Nigerian National Petroleum Corp (NNPC) said was intended to bring them in line with the current market ...

Bloomberg European Union (EU) finance ministers agreed on a 540 billion-euro ($590 billion) package of measures to combat the economic fallout of the global coronavirus pandemic. It’s now up to EU leaders to approve the accord, which will require overcoming profound political disagreements. In an emergency teleconference, finance chiefs approved a plan to stave off what’s expected to be a ...