March 09, 2026 The finance ministers of the G7 will discuss the possibility of releasing oil from storage in response to the price rally resulting from the war in the Middle East, media, including the Financial Times and the Australian Financial Review, have reported, citing unnamed sources. The emergency meeting of the officials, also involving […]Read More
March 10, 2026 Iran has warned that “not a litre” of oil will be exported from the Middle East until the United States and Israel stop bombing it. The warning comes on the heels of statements made by President Trump that the war would be over “very soon”, which toppled oil prices from peaks reached […]Read More
March 10, 2026 Crude oil imports into China climbed 15.8% over the first two months of the year, with the information likely to continue to a reversal of the recent decline in oil prices, signalling strong demand from the world’s largest importer. Per official data from Beijing, China imported crude oil at a daily rate […]Read More
March 8, 2026 The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, has said that resolving the longstanding dispute over OPL 245 will reposition the economy and strengthen the country’s fiscal muscle. He praised President Bola Tinubu’s visionary leadership, which enabled the breakthrough. The Attorney-General and Minister of Justice, who spoke after the […]Read More
Global crude oil prices are climbing amidst growing tensions in the Middle East. Consequently, NNPC and Dangote Refinery could be prompted to raise fuel prices in Nigeria once more. This development has sparked worries about a probable hike in the cost of petrol and other energy products in the near future. Recently, crude oil prices […]Read More
March 6, 2026 President Bola Ahmed Tinubu has overseen the successful resolution of the long-standing dispute over Oil Prospecting Licence (OPL) 245, marking a major milestone for Nigeria’s oil and gas industry and opening the door for a significant deepwater investment capable of boosting the country’s crude oil production. The historic settlement agreement was reached […]Read More
Mar 06, 2026 The surge in oil and LNG prices as a result of the Middle East war is testing the resilience of the global economy once again, IMF Managing Director Kristalina Georgieva said on Friday. “The world economy has been remarkably resilient. Shock after shock, and yet growth is at 3.3%,” Georgieva told Bloomberg […]Read More
Mar 06, 2026 Oil prices surged again on Friday, putting crude on track for its biggest weekly gain in years as disruptions to Middle East supply and tanker traffic through the Strait of Hormuz rattle global energy markets. Brent crude was trading above $88 per barrel in early trading, up more than 4% on the […]Read More
… imagined effects on Nigeria’s oil and consumers An LNG market crisis, such as the March 2026 disruption in Qatari supplies, creates immediate global price shocks, intensified Asia-Europe competition for cargo, and severe shipping bottlenecks. It threatens to significantly increase energy costs, force fuel switching, and trigger supply shortages in import-dependent regions, similar to the […]Read More
Mar 05, 2026 The global LNG shipping market has turned sharply higher in recent days, with charter rates for modern LNG carriers surging from roughly $40,000 last week to around $300,000 per day as traders scramble to secure vessels amid escalating disruption in the Middle East. According to shipbroker Fearnleys’ latest weekly LNG report, cited […]Read More
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