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Tag: Iran

featured Oil and Gas

Experts warn of petrol price surge amid US-Iran war

Energy experts and downstream operators have warned that Nigeria may witness a fresh increase in petrol and diesel prices if global crude oil prices surge above $90 per barrel amid escalating tensions between the United States and Iran, according to The PUNCH. The warning follows hostilities in the Middle East that triggered fresh volatility in […]

Oil and Gas

Nigeria’s Bonny Light oil price surges amid US threat on Iran

Crude oil prices surged sharply on Thursday as growing fears of a possible United States military strike on Iran raised concerns over potential supply disruptions from the Middle East. This extended gains into a third consecutive session. Nigeria’s Bonny Light crude, the country’s premium grade, traded at about $69 per barrel. This reflected the broader […]

Crude oil
Oil and Gas

Brent crude surges past $70 after Trump’s Iran threat

Brent crude oil topped $70 a barrel Thursday for the first time since September as United States President Donald Trump ramped up geopolitical tensions by threatening military strikes on Iran. In London morning deals the Brent North Sea crude contract, an international benchmark, jumped 2.4 per cent to $70.06 a barrel. The US benchmark West […]

Economy

Nigeria is central to Iran-Africa engagement, says envoy

The Ambassador of the Islamic Republic of Iran to Nigeria, Mr Gholamreza Mahdavi Raja, has said Nigeria occupies a central place in Iran’s engagement with Africa, describing the country as a strategic gateway to West Africa. Mr Raja made the assertion while speaking at a press briefing on Tuesday in Abuja, where he identified Nigeria’s […]

Food

India shifts export focus from Iran to Nigeria for Basmati rice

India is actively seeking new markets for its basmati rice as political unrest and economic instability in Iran disrupt shipments and delay payments. The Indian Rice Exporters Federation disclosed this development on its official website, citing fears of stalled consignments and payment defaults. The move comes amid weeks of nationwide unrest in Iran over economic […]

Aviation

Turkish airlines cancels Tehran flights amid Iran protests

Turkish Airlines has cancelled all five of its scheduled Friday flights to Tehran, the Iranian capital, amid widespread protests triggered by rising living costs, according to information obtained from the Istanbul Airport application. The airport application also indicated that five additional flights operated by Iranian airlines were cancelled, while seven other flights to Tehran remained […]

Gold hits record high amid escalating US-China trade tensions
News

Iran discovers major gold deposit amid crippling US sanctions

Iran has announced the discovery of a major gold deposit at one of the country’s biggest mines for the precious metal, local media reported Monday. The new vein structure was found at the privately owned Shadan gold mine in the eastern province of South Khorasan, which Fars news agency described as “among the country’s most […]

Iran unveils supersonic cruise missile tech
Tech

Iran unveils supersonic cruise missile tech

Iran has announced its technological breakthrough in the development of a supersonic cruise missile, a declaration that is likely to raise concerns about Tehran’s growing missile capabilities, as reported by Iranian state media. This revelation comes in the wake of recent reports detailing the deployment of more than 3,000 U.S. sailors and Marines on two […]

CBN releases financial report first time in seven years
News

CBN warns banks over Russia, Iran, Cameroon transactions

  By Wilson Adekumola     The Central Bank of Nigeria has admonished Deposit Money Banks and Other Financial Institutions in the country to be cautious of their transactions with businesses and persons in the Russian Federation, the Democratic People’s Republic of Korea, Iran and Cameroun. This was contained in a circular referenced, FPR/AML/PUB/BOF/001/029, which […]

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