(Bloomberg) — Africa’s biggest crude producer is preparing a crackdown on oil theft as part of an ambitious recovery plan to boost output that’s fallen by more than a quarter in two years. Nigeria loses as much as 150,000 barrels of oil a day to criminals who illegally tap pipelines crisscrossing the Niger Delta region, Nigerian Upstream P...

(Bloomberg) — Shell Plc expanded its share buybacks after reporting profit that blew past analyst estimates on the back of surging energy prices.  The positive fourth-quarter earnings cap a tumultuous year in which Shell was targeted by activist investor Dan Loeb, relocated its headquarters to London and dropped “Royal Dutch” from its...

(Bloomberg) — An oil production ship exploded off the coast of Nigeria in what may prove to be the nation’s second major environmental setback in three months. The Trinity Spirit, able to store about 2 million barrels of oil, blew up early Wednesday, Shebah Exploration & Production Co., which has the vessel on lease, said in a statement....

(Bloomberg) — Shell Plc’s sale of a multibillion-dollar stake in a joint venture that operates oil fields in Nigeria has attracted bids from four local companies, according to people familiar with the negotiations. Seplat Energy Plc, Sahara Group Ltd., Heirs Oil and Gas Ltd. and ND Western Ltd. submitted the non-binding offers in January, sa...

(Bloomberg) — Oil shot across $90 for the first time since 2014 as winter weather in the U.S. threatened to shut in some production while geopolitical tensions continued to keep investors on edge.  West Texas Intermediate rose as much as 2.4%, trading above $88 a barrel as traders doubted that all members of the OPEC+ coalition will be ab...