Category: Oil and Gas

Oil prices surge over 3% after US-China tariff rollback deal

Oil prices soared more than 3% in Asian trading on Monday, hitting fresh intraday highs...

Saudi Aramco reports 5% drop in Q1 profit amid lower oil prices

Saudi Aramco, the world’s largest oil producer, reported a 5% year-on-year decline in first-quarter net...

Aiteo partners PETROMOC for new refinery project in Mozambique

Aiteo Eastern E&P Company Limited, a Nigerian energy firm, has entered into an agreement with...

Renaissance confirms oil leak, suspends operation on Rivers pipeline

Renaissance Africa Energy Company Limited announced on Tuesday that it has suspended crude oil shipments...

Nigeria, others eye 10 new offshore drilling projects – Report 

Nigeria, Ivory Coast, and Mozambique are set to launch at least 10 new offshore drilling...

Global crude price slumps after OPEC+ raised output

The global crude oil prices plunged further on Sunday following OPEC+’s decision to raise production...

Shell exceeds analyst expectations with Q1 adjusted profit of $5.58b

British oil major Shell reported a first-quarter adjusted profit of $5.58 billion on Friday, exceeding...

Minister leads energy operators to gas conference in China

Nigeria is set to make a powerful impression at the World Gas Conference 2025, with...

Oil marketers blame low demand for ongoing kerosene scarcity 

Oil marketers have cited low patronage and decreasing demand as the main reasons behind the...

FG urges indigenous oil firms to ramp up production

The Federal Government has once again urged indigenous oil companies to scale up their production...

Oil prices surge over 1% amid geopolitical, economic factors

Oil prices rose over 1% on Wednesday due to a mix of geopolitical and economic...

Marketers lament losses after NNPC’s petrol price cut

Petroleum product marketers expressed concerns on Monday over their losses following a price reduction by...