Browsing: Oil and Gas
Oil market ended the week mixed, with a surge in Brent price on concerns over potential supply disruptions linked to a possible US blockade of the Strait of Hormuz, while easing geopolitical tensions and revived hopes for talks with Iran pressured the market.
The prices of crude oil surged sharply on Monday amid heightened concerns about prolonged disruptions to global oil supply following US President Donald Trump’s statements on a blockade of the Strait of Hormuz.
NUPRC, SeaSeis Seal Landmark PEL5 Agreement The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has signed a Petroleum Exploration Licence (PEL)…
Dangote Warns of Global Oil Shocks A foremost industrialist, Alhaji Aliko Dangote, has warned that Middle-East tensions driving global oil…
Oil Prices Dip as Iran Allows Ships Through Strait of Hormuz Brent crude oil traded at $107.68 per barrel in…
The Saudi Defense Ministry said Thursday air defenses intercepted a ballistic missile targeting the Red Sea port of Yanbu and reported a drone impact at a key oil refinery as regional tensions escalate.
The US Energy Information Administration (EIA) has raised its average oil price forecast for 2026, citing heightened geopolitical tensions and disruptions to oil shipments through the Strait of Hormuz.
President Bola Tinubu has approved a targeted fiscal incentive designed to unlock the long-awaited Final Investment Decision (FID) on the Bonga Southwest Aparo (BSWA) deepwater project.
Dangote Refinery’s Petrol Price Adjustment: Market Realities Behind the Hike The recent adjustment in petrol prices by Dangote Refinery has…
Brent Crossed $83 as Iran Blocks Oil Shipping Channel Brent crude crossed $83 per barrel on Wednesday as Iran blocked…