Indian refiners have taken a bold stance by refusing to accept Russian crude oil carried on PJSC Sovcomflot tankers, citing stringent US sanctions. This decision marks...
Oil prices rebounded on Thursday despite signals from the U.S. Federal Reserve indicating a potential prolongation of higher interest rates. Brent crude oil, against which Nigeria...
In February 2024, Nigeria’s oil and gas exploration activities surged with rig count increasing by 23% compared to the previous year. The rig count, a crucial...
The Nigerian National Petroleum Corporation (NNPC) is facing an increasingly daunting subsidy burden as oil prices continue to surge. Investigation has revealed that escalating crude oil...
Nigeria’s imports surged to N35.8 trillion in 2023, according to the National Bureau of Statistics (NBS). However, amidst this import boom, the country’s exports were largely...
Oil prices surged on Monday during the Asian trading session as concerns over global supply intensified amidst ongoing attacks on Russian energy infrastructure. Brent crude oil,...
The global commodities market has reported $100 billion in profits despite facing challenges and disruptions, making its second-best year ever. According to analysis from consultancy firm...
Oil prices skyrocketed following the International Energy Agency’s (IEA) adjustments to its demand and supply forecasts. The IEA’s latest report, released Thursday, sent shockwaves through financial...
Oil prices surged as Brent crude oil rose to $82.20 a barrel, a significant uptick amidst bullish sentiments driven by robust global demand forecasts. The rally...
James Faleke, Chairman of the House of Representatives Committee on Finance, has said Nigeria’s oil production cost per barrel stands at $48, the highest globally. Speaking...
