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By Obinna Uballa The Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) revocation of the Oritsemeyin drilling rig’s operating licence is a wake-up call to upstream operators to tighten compliance with safety and operational standards, according to oil and gas consultant Dr. Maurice Ibe. Ibe, Group Executive Chairman of Benham Group, said the decision underscored the regulator’s…
September 14, 2025
President Donald Trump has urged U.S. partner countries in the G7 group to impose tariffs on China and India in punishment for their continued energy trade with Russia, the Financial Times has reported, noting it is Trump’s belief that such a course of action would speed up the end of the Ukraine war. The report said…
September 12, 2025
Crude oil price climbed in early trading on Wednesday following the news of an Israeli attack against Hamas leaders in Doha, Qatar, along with reports that President Donald Trump had asked the European Union to slap a 100% tariff on China and India to make them stop buying Russian crude. At the time of writing,…
September 10, 2025
Oil prices rose on Monday despite OPEC+ confirming at its Sunday meeting that it will wind down more than 1 million barrels per day of extra voluntary cuts over the next two months. At 9:34 a.m. ET on Monday, West Texas Intermediate (WTI) was trading up 1.65% at $62.89 per barrel, while Brent was up 1.74%…
September 8, 2025
Crude oil prices were on course to end the week with a loss, with the decline starting on Wednesday and extending into Friday, reversing a string of gains that lasted two weeks. At the time of writing, Brent crude was trading at $66.88 per barrel, with West Texas Intermediate at $63.34 per barrel, as oil traders anticipated the global…
September 5, 2025
Crude oil prices stabilized today after inching up on Tuesday following the news of new U.S. sanctions on people involved in exporting Iranian crude disguised as Iraqi crude. At the time of writing, Brent crude was trading at $68.93 per barrel and West Texas Intermediate was trading at $65.42 per barrel, both slightly down from opening. On Tuesday, the…
September 3, 2025
U.S. policies Weigh in on market By Obinna Uballa Oil prices rose on Tuesday amid growing concerns over Russian supply disruptions and uncertainty surrounding United States trade and monetary policies. Brent futures for November delivery traded at $69.46 per barrel at 10:54 a.m. Nigerian time, up 1.92% from Monday’s close. The October Nymex WTI contract…
September 2, 2025
Crude oil will continue to be in demand for a very long time yet, the chief executive of Chevron, Mike Wirth, told the New York Times in an interview. Asked about his take on International Energy Agency predictions of peak oil demand, Wirth said that “First of all, the I.E.A. has not always been right,…
September 1, 2025
U.S. crude oil production hit a new record in June at 13.58 million barrels per day, according to the Energy Information Administration’s latest Petroleum Supply Monthly. That’s 133,000 barrels more than May and 2.5 percent higher than a year ago. The new monthly figures also show a sharp disconnect from the EIA’s weekly estimates. For…
August 30, 2025
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By Obinna Uballa The Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) revocation of the Oritsemeyin drilling rig’s operating licence is a wake-up call to upstream operators to tighten compliance with safety and operational standards, according to oil and gas consultant Dr. Maurice Ibe. Ibe, Group Executive Chairman of Benham Group, said the decision underscored the regulator’s…
September 14, 2025
President Donald Trump has urged U.S. partner countries in the G7 group to impose tariffs on China and India in punishment for their continued energy trade with Russia, the Financial Times has reported, noting it is Trump’s belief that such a course of action would speed up the end of the Ukraine war. The report said…
September 12, 2025
Crude oil price climbed in early trading on Wednesday following the news of an Israeli attack against Hamas leaders in Doha, Qatar, along with reports that President Donald Trump had asked the European Union to slap a 100% tariff on China and India to make them stop buying Russian crude. At the time of writing,…
September 10, 2025
Oil prices rose on Monday despite OPEC+ confirming at its Sunday meeting that it will wind down more than 1 million barrels per day of extra voluntary cuts over the next two months. At 9:34 a.m. ET on Monday, West Texas Intermediate (WTI) was trading up 1.65% at $62.89 per barrel, while Brent was up 1.74%…
September 8, 2025
Crude oil prices were on course to end the week with a loss, with the decline starting on Wednesday and extending into Friday, reversing a string of gains that lasted two weeks. At the time of writing, Brent crude was trading at $66.88 per barrel, with West Texas Intermediate at $63.34 per barrel, as oil traders anticipated the global…
September 5, 2025
Crude oil prices stabilized today after inching up on Tuesday following the news of new U.S. sanctions on people involved in exporting Iranian crude disguised as Iraqi crude. At the time of writing, Brent crude was trading at $68.93 per barrel and West Texas Intermediate was trading at $65.42 per barrel, both slightly down from opening. On Tuesday, the…
September 3, 2025
U.S. policies Weigh in on market By Obinna Uballa Oil prices rose on Tuesday amid growing concerns over Russian supply disruptions and uncertainty surrounding United States trade and monetary policies. Brent futures for November delivery traded at $69.46 per barrel at 10:54 a.m. Nigerian time, up 1.92% from Monday’s close. The October Nymex WTI contract…
September 2, 2025
Crude oil will continue to be in demand for a very long time yet, the chief executive of Chevron, Mike Wirth, told the New York Times in an interview. Asked about his take on International Energy Agency predictions of peak oil demand, Wirth said that “First of all, the I.E.A. has not always been right,…
September 1, 2025
U.S. crude oil production hit a new record in June at 13.58 million barrels per day, according to the Energy Information Administration’s latest Petroleum Supply Monthly. That’s 133,000 barrels more than May and 2.5 percent higher than a year ago. The new monthly figures also show a sharp disconnect from the EIA’s weekly estimates. For…
August 30, 2025
