Brent crude hits $114.13 amid escalating Middle East tensions
The price of Brent crude futures rose to $114.13 per barrel on Thursday after strikes on key energy infrastructure in the Middle…
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Imported petrol cheaper than local by ₦94.53/litre — MEMAN
The landing cost of imported petrol stands at N94.53 cheaper than the domestic gantry price, according to a report by the Major…
US-Israel-Iran war leaves Africa with weeks of fuel reserves — Report
The escalating conflict in the Middle East, particularly the war involving Iran, has severely disrupted global energy shipments through the Strait of…
Oil prices surge past $100pb as Iran targets crude-producing neighbours
Oil prices surged again on Tuesday following fresh Iranian attacks on crude-producing neighbours, targeting vital energy infrastructure and raising serious fears of…
129,000MT petrol vessels arrive Lagos amid surging fuel prices
As Nigerians contend with rising petrol prices, vessels carrying 129,000 metric tonnes of Premium Motor Spirit (petrol) and Automotive Gas Oil (diesel)…
US-Israel-Iran war chokes Hormuz, strains global oil supply — Report
The war in Iran has transformed the Strait of Hormuz into a critical choke point where a single misstep could disrupt economies…
Middle East war drives oil prices to new highs
Oil prices kept rising as markets opened Sunday, with both benchmarks higher as the war in the Middle East disrupts global supplies.…
Brent crude hits $105 as Middle East tensions continue
Oil prices climbed further on Monday as the U.S.–Israeli conflict with Iran entered its third week, stoking concerns over global supply disruptions…
Dangote Refinery reverses petrol price cut to ₦1,175
The Dangote Petroleum Refinery has raised the ex-depot price of Premium Motor Spirit to N1,175 per litre. This reverses an earlier reduction…
Drill or drop, NUPRC ends era of dormant oil licences
The Nigerian Upstream Petroleum Regulatory Commission has declared that the era of oil companies holding exploration licences for years without developing the…
Oil soars above $100pb as Iran blocks Hormuz strait
Oil prices surged past $100 per barrel while global stock markets deepened their declines after Iran’s new supreme leader ordered the closure…
NNPCL slashes petrol price to ₦1,130 in Lagos, ₦1,165 in Abuja
The Nigerian National Petroleum Company Limited has reduced the pump price of petrol at its retail outlets to N1,130 per litre in…