Crude Oil
Uganda Names Crude Oil Blend Pearl Sweet as Commercial Production Nears
Uganda has officially christened its crude oil blend Pearl Sweet, marking a critical step toward commercial production by the end of 2026. The...
Crude Oil Tumbles 4 Percent as US Consumer Sentiment Shows Modest Improvement in June
Oil markets endured a punishing session Friday as crude prices plummeted 4 percent to $69.05 per barrel, extending a selloff that reflects growing...
Nigeria’s Oil Production Rises Slightly but Remains Below OPEC Quota
Nigeria’s crude oil production recorded a slight increase in April 2026, but the country still failed to meet its production quota set by...
Nigeria Exports 80 Percent of Crude Oil Despite Rising Local Refinery Demand
Oil companies in Nigeria exported nearly 80 percent of the country’s crude oil production in the first quarter of 2026 despite increasing demand...
Nigeria, Oil Firms Record $4bn Windfall as Global Crude Prices Surge Amid Conflict
Nigeria and oil companies operating in the country have reportedly earned an estimated 4 billion dollars in additional revenue following a sharp rise...
Hormuz Strait Closure Dashes Hopes of Petrol Price Drop in Nigeria
The decision by Iran to reclose the Strait of Hormuz has dealt a major blow to expectations of a significant reduction in fuel...
Dangote Refinery Blames Global Crude Market for High Petrol Prices in Nigeria
Management of the Dangote Refinery has attributed the persistent high cost of petrol in Nigeria to global market forces, despite the country’s growing...
Dangote Refinery Raises Petrol Price Amid Global Oil Tensions
Dangote Petroleum Refinery has announced a fresh increase in the price of Premium Motor Spirit, citing rising global geopolitical tensions and escalating crude...
Trump Says US No Longer Needs Allies in Iran War Amid Strait of Hormuz Tensions
President Donald Trump said Tuesday that the United States “no longer need” military assistance in the ongoing conflict with Iran, following largely rebuffed...
Dangote Refinery Reverses Petrol Price Cut to ₦1,175 per Litre
The Dangote Petroleum Refinery has reversed its recent price reduction, raising the ex-depot price for Premium Motor Spirit PMS back to ₦1,175 per...
