Category: Oil and Gas

Dangote Refinery loses N32.5bn after petrol price cut

The Dangote Petroleum Refinery will incur an estimated N32.5 billion loss following a recent reduction...

Global oil prices rise 2% on tighter US supplies

Global oil prices rose 2 per cent on Wednesday as U.S. government data revealed tighter-than-expected...

Unstable petrol prices endangering businesses, oil marketers warn

Oil marketers under the aegis of the Petroleum Products Retail Outlets Association of Nigeria has...

Marketers project N800/litre pump price as imported petrol costs fall

The competition in Nigeria’s downstream oil sector has intensified as major marketers lower their prices...

Nigeria’s crude oil output drops to 1.47m barrels per day

Nigeria’s crude oil production has once again fallen below its OPEC quota. According to the...

Russia’s oil output drops further below OPEC+ quota in January

Russia’s oil production in January reportedly fell further below its OPEC+ quota, indicating continued challenges...

Tougher US sanctions’ll limits Russian oil supply to China, India

Chinese and Indian refiners are set to source more oil from the Middle East, Africa,...

Global oil prices slip to $76.23 after reaching October highs

Oil prices fell slightly on Monday due to a stronger U.S. dollar and anticipation of...

Dangote, P’Harcourt refineries, others to consume 123m barrels H1 – Report

The Dangote refinery, along with the revamped Port Harcourt and Warri refineries, and six other...

Oil prices rise slightly amid optimism from China

Oil prices saw modest gains in light holiday trading on Thursday, supported by optimism about...

FG approves Shell’s $2.4bn onshore assets sale

Renaissance Africa Energy Company Limited has announced that it has received ministerial consent to acquire...

US sanctions disrupt Iran’s crude exports to China – Report

Iran’s crude exports to China have faced disruptions due to US sanctions targeting tankers, as...