Oil Prices Rise as US Strikes in Iran Stall Peace Deal Hopes, Global Stocks Turn Mixed
Global oil prices climbed on Tuesday while stock markets showed mixed performance, as renewed U.S. military strikes in southern Iran…
Category: Energy
UK Exempts Nigeria from Russian Fuel Sanctions Tightening Amid Global Energy Shift
The United Kingdom has exempted Nigeria from stricter compliance checks under its updated sanctions regime targeting fuel products refined from…
Nigeria’s Refinery Struggles Deepen as Fuel Import Bill Hits ₦46.17 Trillion Amid Calls for Local Production Reform
Nigeria’s dependence on imported fuel continues to spark debate as industry experts warn that local refineries are still struggling with…
Nigeria, Turkey Seal Mining Partnership to Boost Investment and Solid Minerals Development
Nigeria has taken another step toward attracting foreign investment into its mining industry after signing a landmark memorandum of understanding…
Dangote faces price war as NNPC backs fuel imports
Nigeria’s downstream petroleum sector is heading for another major showdown as the Nigerian National Petroleum Company Limited (NNPC) and fuel…
FG Cancels $717.7 Million World Bank Power Loan as Nigeria’s Electricity Crisis Deepens
Nigeria’s efforts to revive its struggling electricity sector suffered a major setback after the Federal Government cancelled $717.7 million in…
Nigeria’s Oil Sector Contributes 3.92% to GDP in Q1 2026 Despite Improved Growth Performance
Nigeria’s oil sector accounted for 3.92% of the country’s real Gross Domestic Product (GDP) in the first quarter of 2026,…
Oil Prices May Crash as Iran–US Peace Talks Signal Possible Reopening of Strait of Hormuz
Global oil markets may be heading for a major shake-up as renewed Iran–US peace talks raise hopes of reopening the…
Cooking Gas Crisis in Nigeria: Prices Hit ₦1,500/kg as Marketers Warn of Scarcity and Economic Shock
Nigeria’s cooking gas market is under fresh pressure as marketers raise alarm over worsening scarcity and a sharp increase in…
CPPE Defends Dangote Refinery, Rejects Monopoly Claims and Calls for Stronger Local Refining Support
The Centre for the Promotion of Private Enterprise (CPPE) has rejected allegations that the Dangote Refinery poses a monopolistic threat…
NNPC Battles Dangote Refinery in Court, Warns Against Fuel Market Monopoly
The Nigerian National Petroleum Company Limited (NNPC) has strongly opposed the lawsuit filed by Dangote Petroleum Refinery over fuel import…
Seplat Energy Targets Expansion, Approves 2025 Dividend Amid Record Production Surge
Seplat Energy Plc has entered a bold new phase of expansion, combining strong financial performance with an aggressive growth strategy…
Chinese Investors May Acquire 51% Stake in Port Harcourt and Warri Refineries as Nigeria Eyes NLNG-Style Deal
Nigeria is considering a major shift in its downstream oil sector that could see Chinese investors take a controlling 51…
Oil Asset Security in Niger Delta Gets Boost as Youth Employment Programs Reduce Vandalism in Bayelsa
For years, oil-producing communities in Nigeria’s Niger Delta have faced a difficult cycle of unemployment, poverty, and rising frustration among…
Crude Oil Prices Drop on US–Iran Peace Deal Signals as Markets React to Geopolitical Shift
Global oil prices slipped on Thursday as optimism grew over a possible breakthrough in peace negotiations between the United States…
Seplat Energy Targets $1bn Dividend Payout as Production Goal Hits 200,000 Barrels Per Day
Seplat Energy has set an ambitious goal to reward its shareholders with a $1 billion dividend payout within the next…
Nigeria-UK Trade Hits £7.6bn as Crude Oil Exports Strengthen Economic Ties in 2025
Nigeria’s trade relationship with the United Kingdom recorded a major boost in 2025, reaching a total value of £7.6bn, largely…
Oil Prices Slip to $105 as US–Iran Peace Talks Ease Middle East Tensions
Global oil prices slipped on Wednesday as Brent crude fell to $105 per barrel, reflecting growing optimism over ongoing peace…
Dangote Refinery Expands Jet Fuel Exports Across Europe as Global Supply Tightens
Nigeria’s Dangote Refinery is rapidly strengthening its footprint in the global aviation fuel market, with fresh data showing a major…
Nigeria’s Oil Exploration Drops 41.7% as Rig Count Falls to 12 – OPEC Report Raises Production Concerns
Nigeria’s oil and gas sector recorded a sharp slowdown in April 2026, as exploration and drilling activities fell by 41.7%,…
Nigeria’s Oil Sector Booms as Local Content Policy Drives 117 Operating Firms and 61% Industry Growth
Nigeria’s oil and gas sector is undergoing a major transformation as local content policies continue to reshape the industry, boosting…
South African Pension Fund Targets Dangote Refinery IPO as African Investors Eye Energy Mega-Project
African institutional investors are showing strong interest in the upcoming Dangote Refinery IPO, as representatives of South Africa’s Government Employees…
Nigeria Oil Industry Sees Major Boom as Local Content Policy Drives 117 Operating Firms
Nigeria’s oil and gas industry is undergoing a major transformation as local content policies continue to reshape the sector and…
World Bank says global carbon pricing revenue tops $107 billion in 2025
Global carbon pricing revenue climbed above $107 billion in 2025, marking another milestone in the worldwide push to reduce greenhouse…
South African Investors Set Sights on Dangote Refinery as Africa’s Industrial Future Gains Momentum
Africa’s largest industrial project may soon attract significant South African capital as leading pension and investment institutions expressed strong interest…
AKK Gas Pipeline Project Set to Revolutionize Nigeria’s Economy and Industrial Growth
Nigeria’s ambitious $2.8 billion Ajaokuta–Kaduna–Kano (AKK) gas pipeline project is being described as a game-changer that could reshape the country’s…
US–Iran Crisis Pushes Nigerian Crude Toward $120 as Global Oil Prices Surge
Nigeria’s crude oil market is once again feeling the heat of global tensions, as the ongoing US–Iran crisis drives prices…
Dangote Refinery reduces Jet Fuel Price to N1,650
Nigeria’s aviation industry has received a major boost as Dangote Petroleum Refinery & Petrochemicals announced a reduction in the price…
High Energy Prices Could Derail Europe’s AI Race Against the U.S. and China
Europe is racing to compete with the United States and China in the fast-growing artificial intelligence sector, but rising electricity…
Brent Crude Oil Prices Surge Above $111 as Middle East Tensions Fuel Supply Shock Fears
Oil prices surged sharply in early Asian trading on Monday, with Brent crude crossing the $111 mark as renewed geopolitical…