The Nigerian Navy says it has foiled attempts by oil theft syndicates to restart an illegal refining network in Ogba-Egbema-Ndoni, Rivers. The Director, Naval Information, Capt Abiodun Folorunsho, released the…
Oil prices bounced back on Thursday after two days of steep losses, as traders weighed the uncertain outlook for an Iran peace deal and reacted to record U.S. inventory drawdowns…
Oil prices jumped over 7% on Monday after the Strait of Hormuz was closed again amid U.S.-Iran tensions, rebounding from a 9% drop last Friday. Brent crude futures rose $6.56,…
Oil prices have dropped since the Strait of Hormuz reopened, but it is still unclear how long this situation will last. The reopening followed a tense standoff that drew global…
Crude prices pulled back in early Asian trading on Tuesday as hopes of renewed U.S.-Iran talks took some of the heat out of markets rattled by Washington’s blockade of the…
Toye Faleye with Agency report Oil prices climbed Thursday as investors remained cautious that Middle East crude supplies may not fully resume, despite a two-week ceasefire between the United States…
Tokyo: Oil prices rose on Monday, as the U.S.-Israeli war with Iran continued to disrupt global supplies following the Easter holiday weekend. Brent crude futures rose $2.4, or 2.2%, to…
Lagos: Nigeria’s efforts to increase crude production are now at risk after workers at Seplat Energy, the country’s largest independent oil and gas producer, began an indefinite strike on Friday.…
Brent and WTI crude climb over 4% after Trump signals no immediate end to conflict Oil prices surged after President Donald Trump pledged continued U.S. military action against Iran, targeting…
Abuja: Nigeria has 31.09 billion barrels of crude oil and 5.92 billion barrels of condensate, totalling 37.01 billion barrels, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reports. The NUPRC Chief…