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Crude oil prices were set for another weekly rise after additional 25% tariffs on Indian exports to the United States kicked in on Wednesday, raising doubts about the supply of Russian crude. At the time of writing, Brent crude was trading at $68.17 per barrel, with West Texas Intermediate at $64.20 per barrel, both slightly down from Thursday’s close…
August 29, 2025
By Obinna Uballa Cross River State holds vast untapped natural resources, including an estimated 35 trillion cubic feet (TCF) of gas and extensive solid mineral deposits, the Group Chief Executive Officer of Pana Holdings, Dr. Daere Akobo, has disclosed. Akobo made the revelation during the signing of a strategic partnership agreement between the Cross River…
August 26, 2025
By Obinna Uballa The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr Bashir Bayo Ojulari, has countered Africa’s richest man, Aliko Dangote, over the future of Nigeria’s government-owned refineries. While Dangote recently cast doubt on the viability of the Port Harcourt, Warri, and Kaduna refinerie, stating they may never work…
August 21, 2025
By Obinna Uballa Notable economist and Managing Director of Financial Derivatives Company Limited, Mr. Bismarck Rewane, has cautioned that Nigeria’s plan to ramp up crude oil production to 2 million barrels per day (bpd) before the end of 2025 is inconsistent with its OPEC quota and could have serious implications for the country’s relationship with…
August 21, 2025
By Obinna Uballa The Federal Government has threatened to withdraw oil operating licences from companies that have failed to demonstrate the financial and technical capacity to produce crude, warning that idle assets undermine Nigeria’s push to ramp up output. Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, issued the warning on Wednesday in Abuja…
August 20, 2025
By Obinna Uballa A new research by Wood Mackenzie (WoodMac) has revealed that the world must invest more than $1.2 trillion in battery storage capacity over the next decade to stabilise electricity grids dominated by renewables. The WoodMackenzie, a leading global research consultancy firm estimates that the power sector faces a 1,400 GW battery shortfall…
August 20, 2025
The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell this week, shrinking by 2.4 million barrels in the week ending August 15. Analysts had expected a 1.2-million-barrel draw. So far this year, crude oil inventories are up nearly 8 million barrels, according to Oilprice calculations of API data. Earlier…
August 20, 2025
The August 15 Trump-Putin meeting has caught Europe off guard, sparking urgent diplomatic moves to avoid being sidelined. EU leaders have set strict red lines on Ukraine, including a cease-fire and security guarantees, but face internal divisions, notably from Hungary. Despite threats of more sanctions and military proposals, Europe’s influence appears limited compared to Washington…
August 13, 2025
This week, a private arbitration panel in London began hearing the arguments of U.S. supermajors ExxonMobil and Chevron regarding their rights to one of the world’s most lucrative oil projects. Guyana’s Stabroek block has an estimated 11 billion barrels of oil in place discovered so far by the consortium of ExxonMobil, U.S. Hess Corp, and…
May 28, 2025
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Crude oil prices were set for another weekly rise after additional 25% tariffs on Indian exports to the United States kicked in on Wednesday, raising doubts about the supply of Russian crude. At the time of writing, Brent crude was trading at $68.17 per barrel, with West Texas Intermediate at $64.20 per barrel, both slightly down from Thursday’s close…
August 29, 2025
By Obinna Uballa Cross River State holds vast untapped natural resources, including an estimated 35 trillion cubic feet (TCF) of gas and extensive solid mineral deposits, the Group Chief Executive Officer of Pana Holdings, Dr. Daere Akobo, has disclosed. Akobo made the revelation during the signing of a strategic partnership agreement between the Cross River…
August 26, 2025
By Obinna Uballa The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr Bashir Bayo Ojulari, has countered Africa’s richest man, Aliko Dangote, over the future of Nigeria’s government-owned refineries. While Dangote recently cast doubt on the viability of the Port Harcourt, Warri, and Kaduna refinerie, stating they may never work…
August 21, 2025
By Obinna Uballa Notable economist and Managing Director of Financial Derivatives Company Limited, Mr. Bismarck Rewane, has cautioned that Nigeria’s plan to ramp up crude oil production to 2 million barrels per day (bpd) before the end of 2025 is inconsistent with its OPEC quota and could have serious implications for the country’s relationship with…
August 21, 2025
By Obinna Uballa The Federal Government has threatened to withdraw oil operating licences from companies that have failed to demonstrate the financial and technical capacity to produce crude, warning that idle assets undermine Nigeria’s push to ramp up output. Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, issued the warning on Wednesday in Abuja…
August 20, 2025
By Obinna Uballa A new research by Wood Mackenzie (WoodMac) has revealed that the world must invest more than $1.2 trillion in battery storage capacity over the next decade to stabilise electricity grids dominated by renewables. The WoodMackenzie, a leading global research consultancy firm estimates that the power sector faces a 1,400 GW battery shortfall…
August 20, 2025
The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell this week, shrinking by 2.4 million barrels in the week ending August 15. Analysts had expected a 1.2-million-barrel draw. So far this year, crude oil inventories are up nearly 8 million barrels, according to Oilprice calculations of API data. Earlier…
August 20, 2025
The August 15 Trump-Putin meeting has caught Europe off guard, sparking urgent diplomatic moves to avoid being sidelined. EU leaders have set strict red lines on Ukraine, including a cease-fire and security guarantees, but face internal divisions, notably from Hungary. Despite threats of more sanctions and military proposals, Europe’s influence appears limited compared to Washington…
August 13, 2025
This week, a private arbitration panel in London began hearing the arguments of U.S. supermajors ExxonMobil and Chevron regarding their rights to one of the world’s most lucrative oil projects. Guyana’s Stabroek block has an estimated 11 billion barrels of oil in place discovered so far by the consortium of ExxonMobil, U.S. Hess Corp, and…
May 28, 2025
