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 reported by Vortexa Ltd. This has put…
Oil and Gas
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IEA warns of oil surplus in 2025 despite OPEC+ delay
The International Energy Agency has said that the global oil markets will face a glut next year, despite OPEC+’s decision last week…
OPEC+ delays plans to ease crude production cuts
OPEC+ has postponed plans to ease its formal and voluntary crude production cuts until 2026, citing a subdued outlook for global oil…
TotalEnergies proposes measures to revive Nigeria’s oil sector
Multinational energy giant, TotalEnergies outlined five key proposals on Tuesday to help revive Nigeria’s oil and gas sector, which has been struggling…
Nigeria’s crude output rises over 1m barrels daily
Nigeria’s crude oil production rose by 35,000 barrels per day in October, reaching approximately 1.085 million bpd, as reported by the Organisation…
Saudi Aramco records 15% profit drops in 2024 Q3
Energy giant Saudi Aramco reported a 15 percent year-on-year drop in third quarter profit on Tuesday, citing low oil prices. The fall…
Oil industry stakeholders explore opportunities from IOC divestments
Indigenous Nigerian oil and gas operators are advocating for enhanced infrastructure and financial support to take advantage of international oil companies’ divestment.…
Rep advocates local refiners inclusion in petroleum production
The House of Representatives has urged the Federal Government to create a comprehensive blueprint for the inclusion of indigenous refiners in the…
Nigeria’s oil production drops 30,000b Sept – OPEC
Nigeria’s average crude oil production in September dropped by 33,000 barrels to 1.405 million barrels per day. In its October oil market…
Petrol prices could fall as marketers buy from Dangote – IPMAN
The National Secretary of the Independent Petroleum Marketers Association of Nigeria, James Tor announced that petrol prices could drop as the federal…
Marketers to begin direct purchases of petrol from Dangote refinery
In a significant shift within Nigeria’s oil sector, major oil marketers are set to begin direct purchases of Premium Motor Spirit from…
Oil nears $80 mark amid Middle East tensions
Oil prices continued their upward trajectory on Monday, with Brent crude nearing the $80 mark as concerns over a potential escalation of…