International Oil Companies (IOCs) are standing firm on their stance regarding the currency denomination for crude oil transactions with modular refineries. Despite earlier indications suggesting a...
Amidst escalating tensions between Iran and Israel, the global oil markets find itself in a precarious position, with traders and investors anxiously watching for potential ramifications...
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...
The Trans-Niger Pipeline (TNP) has achieved a new milestone with crude transport surpassing 200,000 barrels per day (bpd) in the last six months. This achievement signals...
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has sounded a clarion call over a looming crude oil shortage that threatens the operations of...
Nigeria’s energy landscape is poised for significant expansion with the imminent commencement of production at the Akpo West field, a development expected to bolster the nation’s...
Oil prices surged by over 2% following a series of reports that the United States and the United Kingdom carried out coordinated strikes on Houthi military...
Oil prices were stable in the early hours of Tuesday after declining by more than $1 on Monday amid rising global uncertainty in the wake of...
Nigeria’s oil output from Production Sharing Contracts (PSCs) with partnering firms has reached a historic low of 34 percent over the past year, according to a...
Nigeria’s crude oil refining capacity has taken a significant hit, reducing to a mere 6,000 barrels per day, according to the latest Annual Statistical Bulletin from...