Nigeria is facing mounting challenges in placing its crude oil in the international market, with an estimated 20 million barrels of December and January loading cargoes still without buyers, according to industry sources cited by Reuters.…

The Steering Committee of the Domestic Crude Oil and Refined Products Sales in Local Currency Initiative said it has intervened in the dispute between the oil workers association and Dangote Refinery to ensure energy security, protect…

Asian stocks were mostly higher on Monday while oil dipped ahead of talks between US President Donald Trump, his Ukrainian counterpart, Volodymyr Zelensky, and European leaders in Washington. Trump met Russian President Vladimir Putin in…

Crude oil prices have weakened, declining by over 12% to approximately $65.50 per barrel, following sweeping trade tariffs by President Donald Trump against countries. Oil trade above $70 per barrel before President Trump slammed the…

The 7,921 metric tons of rubber production from Okomu Oil Palm Plc provided the high-growth engine that propelled a 73.4 per cent growth in sales to over N130 billion in 2024, the highest revenue growth for the company in many years.…

Data obtained by the Major Energies Marketers Association of Nigeria (MOMAN) on Wednesday indicated that the landing cost of a litre of imported petrol increased by ₦88 in one week. The association confirmed the rise in the landing cost…

Brent crude oil futures extended its recent decline toward $70 per barrel on Wednesday, pressured by prospects of increased Russian supply. This follows President Putin’s agreement to halt attacks on Ukrainian energy sites while…

U.S. President Donald Trump's administration is piling pressure on Iraq to allow Kurdish oil exports to restart or face sanctions alongside Iran, eight sources with direct knowledge of the matter told Reuters. An advisor to the Iraqi prime…

Dangote Petroleum Refinery and Petrochemicals failed to withdraw its lawsuit against the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigerian National Petroleum Company Limited (NNPCL), and five other oil…

First Bank of Nigeria Limited (FirstBank) has alleged that General Hydrocarbons Limited (GHL) breached the loan agreement by diverting oil sales proceeds meant to repay the $225 million loan it collected. The bank which addressed its…