Browsing: Oil and Gas
Nigeria Unveils Long-Term Energy Plan –NUPRC Mrs Oritsemeyiwa Eyesan, Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC),…
NNPC Signs MoU for Restart, Expansion of Warri, PH Refineries The Nigerian National Petroleum Company Limited (NNPC Ltd.) has signed…
Crude oil prices edged higher during trading hours on Tuesday as rising US-Iran tensions in the Strait of Hormuz fueled market uncertainty.
PETAN Urges Nigeria Oil Push Amid OPEC Uncertainty The Petroleum Technology Association of Nigeria (PETAN) has urged Nigeria to raise…
The global oil market saw another double-digit price surge week on week amid worsening energy crisis conditions. Prices spiked amidst efforts to resolve the Iran war, with Tehran continuing to block the Strait of Hormuz.
Oil prices soared following reports that the US is preparing for an extended blockade of Iran. US crude rose 7.6% to $107.52 a barrel on Wednesday, and Brent rose to $ 119.54 per barrel, up 7.44%.
Reflecting an uncertain outlook, oil prices rose on Wednesday, driven by expectations that ongoing uncertainty in the Strait of Hormuz could further tighten global supply.
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)…