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Commodities
Chinese Oil Demand is Expected to Increase in 2023, According to OPEC.
In a statement outlining its expectations for the state of the global economy in 2023, OPEC predicted that Chinese…
Gold Prices are Seen Rising Toward High Records.
As the United States slows the pace of rate hikes and eventually stops increasing them, analysts predict that gold…
Officially, the NLNG Bonny Plant is Still Functioning.
According to the Nigeria LNG Limited, despite a force majeure declaration made in October 2022 and issues with…
The Licensing for Oil Blocks will End in April – Nigeria FG.
The Federal Government declared that the seven deep offshore open oil blocs licensing round, which started on…
Price of Kerosene Increases by 146%
The average retail price of kerosene per litre increased by about 146% from N441 in November 2021 to N1,083/litre…
Oil Drops to $79.32 Due to US Rate Increases.
According to Reuters, oil prices started to decline as investors anticipated that further interest rate increases…
Nigeria FG investigates Shells Oil Leak.
The Federal Government dispatched a team of investigators to look into the Trans Niger pipeline leak.Following an…
Marketers Forecast a Six-month Fuel Shortage and Price Increases.
The downstream oil industry in Nigeria has struggled with persistent gasoline shortages. This may take until…
Kenya Runs the Risk of a Sugar Shortage on the World Market.
Due to high current global prices and a shortage of the commodity globally, Kenya may not be able to secure stocks…
Ghana: Asante Gold Takes Prompt Action to Safeguard Shareholders’ Interests.
Asante Gold Corporation (ASG) has taken swift action to defend the interests of its shareholders from what it…
Rivers Community Discovers Illegal Crude Oil Pipeline.
Authorities in Rivers State's Tai Local Government Area claim to have found a pipeline that illegal refineries…
Nigerian FG Distributes N173 billion for a Consistent Fuel Price.
According to information obtained from the Federal Ministry of Petroleum Resources, the Federal Government spent…
Nigeria’s Oil Output Reaches its Highest Level in Nine Months Due to Crude…
According to data released by the Nigerian Upstream Petroleum Regulatory Commission, Nigeria's crude oil…
2022 Saw a Record-breaking Global Food Prices.
The average price index of the UN food agency reached its highest level ever last year, according to Reuters, as…
NNPC Denies Exporting 17.88m Barrels Crude Oil without Proper Documentation.
The Nigerian National Petroleum Company Limited disputed claims that the oil company illegally exported 17.88…
Nigeria to Spend $7.5 billion on Fuel Subsidies in 2023.
Regarding Fuel scarcity, the Finance Minister, Zainab Ahmed, Nigeria has set aside 3. 36 trillion naira ($7.5…
Trade Union Congress of Nigeria Demands N180/litre Fuel.
The Federal Government has been urged by the Trade Union Congress of Nigeria to make gasoline available at the…
Nigeria: Household Food Import Increases by 71%.
Despite the nation's current foreign exchange crisis, food and beverage imports for households increased by 71.12%…
Oil Expected To Post A Second Annual Gain To End Turbulent 2022.
Due to the conflict in the Ukraine, limited supply, a high dollar, and weaker demand from China, oil had a…
Somalia Denies Genel Energy’s ‘Illegal Claim’ to Oil Permits.
According to Somalia's oil ministry, the country rejected Genel Energy's (GENL. L) "illegal claim" to oil…
Fuel: Three more Cities will Receive Mass Supplies in January After Lagos.
Mass supplies of Premium Motor Spirit, often known as gasoline, will start to be distributed in Lagos, Calabar,…
Shell will Pay 15 million Euros to Resolve the Nigerian Oil Disasters.
Shell (SHEL.L) will pay 15 million euros ($15. 9 million) to communities in Nigeria that were affected by multiple…
Russian Gold was Taken Out of Several Western Funds.
Russian gold worth billions of dollars have secretly changed hands in high-security bank vaults in London, Zurich,…
Nigeria: Bayelsa Receives N90 billion in Oil Revenue from Surplus Crude Accounts.
The Bayelsa State Government confirmed that as of October 2022, it will receive N90 billion from the Federal…
Nigeria Receives 20 Stolen Benin Bronzes from Germany.
According to German Foreign Minister Annalena Baerbock, Germany has returned 20 Benin Bronzes from its museums to…
According to the Nigerian FG, Oil Companies will resume Full Production.
Due to widespread pipeline vandalism and criminal oil theft in the Niger Delta region, major crude oil producers…
Nigeria Misses OPEC Quota As Oil Production Shortfall Hits 6.9m Bpd In 11 Months.
Between January and November 2022, Nigeria's production of crude oil fell by 6.9 million barrels per day (bpd).…
Oil Rises as Expectations of Increased Demand from China Counter Recessionary…
Oil prices increased after dropping by more than $2 a barrel in the previous session as hopes for the Chinese…
Gold Surpasses $1,800 Due to a BOJ Policy Change.
Gold prices increased 1% to over $1,800 as the dollar fell following the Bank of Japan's unexpected policy change…
Oil Increases on Anticipation for China’s Economy.
Oil prices increased as hopes that China would relax its Covid-19 restrictions outweighed worries that a global…