The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has disclosed that the United States, Europe and countries in the Middle East are increasingly seeking...
Oil prices soared and stock markets slid Wednesday after US President Donald Trump said the ceasefire with Iran was over, following renewed strikes in the Middle...
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,...
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...
As ongoing geopolitical tensions in the Middle East, driven by the US-Israel conflict with Iran, have removed an estimated 10 million barrels of oil per day...
The International Energy Agency (IEA) is of the view that the current Middle East crisis has destabilised global oil markets. It pointed out that the ugly...
Iran’s decision to close the Strait of Hormuz again has dampened hopes that fuel prices would crash in Nigeria and other parts of the world. The...
It has come to the fore that the continued export of crude oil while refined petroleum products are imported contradicts Nigeria’s local content goals and limits...
