Reports that Iran has shut the strategic Strait of Hormuz, a strategic international shipping route again has sparked fresh concerns over global oil prices. This latest...
Nigeria imported crude oil worth $1.39bn in the first quarter of 2026, highlighting a major shift in the country’s petroleum trade dynamics as the Dangote Petroleum...
A call has gone to the stakeholders in Nigeria’s oil and gas sector to reduce their ex-depot and retail pump prices in line with the current...
The peace deal between the United States and Iran over the Strait of Hormuz might cost Nigeria dearly in oil revenues. Nigeria’s oil earnings recorded an...
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has expressed confidence that Nigeria can increase crude oil production to 1.9 million barrels per day (bpd), following recent...
Despite a rise in global oil prices, widely traceable to the Middle East crisis, data from the National Bureau of Statistics (NBS) has shown that Nigeria’s...
The raging US-Iran war which has continued to put pressure on the global oil markets has compelled refiners and traders to rethink traditional supply routes. Consequently,...
OPEC+ ministers decided Sunday to increase oil quotas by a total 188,000 barrels per day for July, in a move analysts said would be unlikely to...
Oil prices fell by about $3 on Thursday as investors bet on a possible easing of tensions in the Middle East following hopes of a wider...
Two commercial vessels have successfully passed through the Strait of Hormuz despite ongoing tensions in the Gulf, as Iran submitted its response to a United States...
