Oil Companies Move Offshore as Nigerian Risks Mount

Aug. 1 (Bloomberg) -- At Royal Dutch Shell’s compound in the Nigerian city of Warri, the gate is locked, the grounds are empty and grass has overgrown since Europe’s biggest oil company closed its operations in March after more than 40 years. After Warri saw some of the nation’s worst unrest in two decades, Shell has sold land-based fields that pumped about 400,000 barrels a day in the 1990s, valued at $1.2 billion a month at today’s crude prices, and is buying fields offshore. Ryan Chilcote has more. (Source: Bloomberg)

Turnill: U.K. Not in Doomsday Scenario Post-Brexit
14:41 - Richard Turnill, global chief investment strategist at BlackRock Investment Institute, and Christopher Wheeler, bank analyst at Atlantic Equities, examine the economic and financial implications of Brexit. They speak on "Bloomberg Surveillance." (Source: Bloomberg)
  • Making Money Work With Low Growth, Inflation and Rates
  • The Challenges Facing Central Banks
  • Turnill: London Brexit Headwinds Larger Than Rest of U.K.