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Commodities
OPEC Oil Output Rises in September Despite Cuts
OPEC's oil output increased for the second consecutive month in September, according to a Reuters survey. Nigeria…
Oil Prices Inch Up on Tight Supply Outlook and Risk Appetite Following US…
Oil prices saw a slight rise, recovering from the losses experienced at the end of the previous week. Investors…
Rubis Energy Converts €30 Million in Pending Fuel Subsidy Dues into Government…
Rubis Energy Kenya, an oil marketer, converted €30 million (Sh4.7 billion) worth of pending fuel subsidy dues into…
UN Food Agency’s Global Price Index Hits Two-Year Low in August
In August, the world price index of the United Nations food agency dropped to a new low for the past two years,…
Oil Prices Inch Higher Amid Anticipation of Supply Tightening
Oil prices saw marginal gains, with Brent crude November futures rising by 3 cents to reach $88.58 a barrel, while…
Expanding Onshore Oil Exploration in Angola
Sonangol, Angola's state oil company, is poised to initiate drilling in its first onshore oil well in Luanda,…
Crude Oil Prices Rise on Hurricane Threat and Inventory Draw
Crude oil prices continued their upward trajectory, buoyed by a combination of factors including the approach of…
AFEX and Ghana Commodities Exchange Join Forces to Boost Commodity Trading…
Nigeria's commodities exchange, AFEX, and Ghana Commodities Exchange (GCX) have embarked on a transformative…
Nigeria Could Make up to $17 Billion by Selling Stake in Oil and Gas Assets…
According to a report by JP Morgan, the Nigerian government could raise up to $17 billion if it sells down its…
Kenya: High Court Suspends Exclusive Macadamia Nut Export Rights Pending Case…
The High Court has issued a suspension on the Kenyan government's decision to grant exclusive export rights for…
Seplat Energy Clarifies Ownership Amidst Oil Rig Incident Controversy
Seplat Energy, an independent oil producer, has responded to controversies surrounding the ownership of the…
Resumption of Forcados Crude Oil Exports After Month-Long Halt
Exports of the Forcados grade of crude oil have resumed, according to a statement by a Shell spokesperson. The…
OPEC-13 Crude Oil Production Hits Near Two-Year Low
According to a survey by S&P Global Commodity Insights, OPEC-13's crude oil production reached a near two-year…
Fuel Prices in Tanzania Surge by 17% Amidst Dollar Shortage
Motorists in Tanzania will face a significant increase in fuel prices as the existing shortage of the United…
USAID Warns of Higher Food Prices in Nigeria and Developing Countries due to…
The United States Agency for International Development (USAID) has issued a warning to Nigeria and other African…
Potential Cost Savings and Benefits of Local Refining for Nigeria’s Oil…
Oil marketers in Nigeria have highlighted the potential cost savings and benefits of local refining, stating that…
Crude Oil Reaches $84/Barrel, Fueling Speculations of Petrol Price Hike in Nigeria
Brent crude oil, the international benchmark, surged to $84/barrel on Wednesday, raising concerns about a possible…
Federal Government Takes Aim at Anti-Competitive Practices and Unjustified Food…
The Federal Government, through the Federal Competition and Consumer Protection Commission (FCCPC), is taking…
Fuel Consumption in Nigeria Plummets After Subsidy Removal: Imports Decline, Free…
The Nigerian Government announced that fuel consumption in the country has significantly dropped to 46.38 million…
OPEC Petroleum Export Revenues Soar to a Nearly Decade High Amidst Geopolitical…
Petroleum export revenues from the Organization of the Petroleum Exporting Countries (OPEC) reached their highest…
Nigeria’s Crude Oil Earnings Rise to N1.68tn in June as Output Increases
Nigeria's crude oil earnings reached over N1.68tn in June 2023 due to an increase in the country's oil output,…
Nigeria to Seek Increased OPEC Oil Quota in November, Says NNPCL
The Nigerian National Petroleum Company Limited (NNPCL) has stated that the Federal Government of Nigeria plans to…
Nigeria’s Dominance in Africa’s Gas Market: A Promising Future
Nigeria's gas reserves have positioned the country as a dominant player in Africa's gas market, accounting for 33…
State Intends to Issue a Water Bond Following a Failed Initial Attempt.
Nearly half of the water supplied in Kenya is unmetered, resulting in a significant loss of revenue for water…
Gulf’s dominance grows as a result of OPEC+ oil quota reform.
The recent reforms at OPEC, outlined by Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman, aim to reward…
Nigeria’s Oil Production Falls Below the Target Set by OPEC.
According to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigeria's oil production has…
Nigeria’s Oil Output is Under Danger Due to Disruptions-EIA
The Energy Information Administration (EIA), a US agency, has stated that disruptions in Nigeria's oil production…
Food Export Rejection: Nigeria Sets Up Quality Center, Attempts To Reverse N539…
In December 2022, Prof. Benedict Oramah, the chairman of the African Export-Import Bank (Afrixembank), revealed…
FG Approves Two Oil Export Terminal Licenses with a $11 billion Budget.
The Federal Government granted and signed permits for the construction of two crude oil export terminals, which…
Sesame exports from Nigeria show slight growth.
Sesame seed exports from Nigeria have been ranging between 140,000 and 180,000 tonnes for a while.
According to…