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...
The pump price of Premium Motor Spirit (PMS), commonly known as petrol, could drop to N300 per litre once local production ramps up significantly, according to...
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 Federal Government announced on Tuesday that it will reduce the importation of Premium Motor Spirit (PMS), commonly known as petrol, by approximately $4.4 billion...
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...
Nigeria was thrown into darkness once again as the nation’s power grid collapsed early Monday morning. The collapse occurred at exactly 1:47 am, according to officials...
Oil prices experienced a turbulent trading session on Monday as the market reacted to OPEC+’s announcement of a plan to gradually restore production starting in October....
The Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, agreed on Sunday to extend their oil output cuts well into 2025....
