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Tag: Strait of Hormuz

IATA welcomes CBN's release of $265m to airlines
Aviation

Jet fuel supply recovery to take months despite Hormuz reopening — IATA

Jet fuel supply recovery is expected to take months even if the Strait of Hormuz reopens, according to the International Air Transport Association. The disclosure was made by IATA Director-General, Willie Walsh, to reporters in Singapore, as reported by Reuters on Wednesday. The development follows a temporary ceasefire agreement between the United States and Iran, […]

featured Oil and Gas

Dangote slashes petrol price to ₦1,200/litre amid global oil crash

The Dangote Petroleum Refinery & Petrochemicals has slashed the ex-gantry price of Premium Motor Spirit (petrol) to N1,200 per litre, reversing its earlier increase amid a sharp drop in global crude oil prices triggered by geopolitical developments. The latest adjustment represents a N75 reduction from the previous price of about N1,275 per litre, which the […]

featured Oil and Gas

Iran opens Hormuz Strait after two-week ceasefire deal with US

Iranian Foreign Minister Abbas Araghchi has announced that safe passage through the Strait of Hormuz would be possible for two weeks, coordinated with Iran’s armed forces “and with due consideration of technical limitations.” The development follows U.S. President Donald Trump’s condition that the waterway be reopened as part of a ceasefire, coupled with his warning […]

World

US-Israel-Iran war: UK to meet 35 nations for Hormuz Strait reopening

Britain will this week hold a meeting of about 35 countries to discuss how to reopen the strategic Strait of Hormuz which has been crippled by the Middle East war, Prime Minister Keir Starmer announced Wednesday. United Kingdom Foreign Secretary Yvette Cooper will host the discussions, Starmer told reporters during a Downing Street press conference, […]

News

Trump orders five-day ceasefire on Iran energy sites amid talks

United States President Donald Trump announced on Monday that he had ordered a halt to threatened military strikes on Iranian energy infrastructure following productive discussions with Tehran. The announcement came amid an ongoing conflict in the Middle East, now in its fourth week, which has involved tensions over the Strait of Hormuz and attacks on […]

Maritime

Iran defies Trump Hormuz reopening order, threatens gulf mines

Iran threatened on Monday to deploy naval mines in the Gulf and target power plants across the region in defiance of United States President Donald Trump’s ultimatum demanding that the Islamic republic reopen the Strait of Hormuz. The escalated rhetoric followed warnings that the world faces an energy crisis more severe than the combined impact […]

Oil and Gas

Iran to facilitate Japan oil transit through Hormuz amid war

Iranian Foreign Minister Abbas Araghchi has stated that Tehran is prepared to assist Japanese ships in transiting the Strait of Hormuz, a critical chokepoint for global oil supplies. This was revealed in an interview with Kyodo News published on Saturday. Japan heavily relies on crude oil imports from the Middle East, with the majority passing […]

World

Iran war: Europe rejects Trump’s call for Hormuz naval help

European leaders have rejected demands by the United States President, Donald Trump, for help to clear the Strait of Hormuz. This came as foreign ministers from the European Union gathered in Brussels yesterday to discuss skyrocketing oil prices from the US-Israeli war on Iran. The pushback followed Trump’s call on the UK, China, France, Japan, […]

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