The Federal Government of Nigeria announced on Tuesday the addition of 17 deep offshore oil blocks to the 2024 Licensing Round for oil fields. This significant...
In a cautious market, oil prices showed mixed movements in Asian trade on Tuesday. Global benchmark Brent crude oil, against which Nigerian oil is priced, experienced...
A recent report has revealed that Nigeria’s daily oil losses surged to 400,000 barrels as efforts to curb crude oil theft remain ineffective. This escalation from...
Brent crude prices fell on Monday, reversing some of last week’s gains as traders anxiously awaited the release of key economic data from China, the world’s...
Oil prices faced a setback on Thursday as the U.S. Federal Reserve’s decision to maintain interest rates dampened investor sentiment. The Federal Reserve’s announcement on Wednesday...
Nigeria’s once-thriving oil industry is facing a significant challenge as traditional buyers increasingly turn to more affordable alternatives from the United States and Russia. This shift...
Oil prices steadied on Monday with Brent crude trading near $80 per barrel and West Texas Intermediate (WTI) hovering around $76. This stabilization follows a 2.5%...
Oil prices experienced an upward trend on Thursday, driven by growing expectations that the U.S. Federal Reserve might cut interest rates in September. This optimism, however,...
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced it will mandate international oil companies (IOCs) to supply crude oil to the Dangote refinery. This intervention...
Nigeria’s oil sector, once the powerhouse of the nation’s economy, is now grappling with an unprecedented decline in foreign direct investment (FDI). This downturn has seen...
