27th September 2025 The Dangote Petroleum Refinery has announced the stoppage of petrol sales in naira, a move that has unsettled marketers and raised fresh concerns about fuel pricing and foreign exchange pressure. In an email sent to its customers at exactly 6:42 pm on Friday, the refinery disclosed that the decision would take effect […]Read More
September 26, 2025 The OPEC+ oil group is not hiking oil production as much as the headline figures in the agreement suggest, as some members are close to capacity while others are compensating for previous overproduction. This could come as a relief to the market, which expects a major oversupply later this year and early […]Read More
September 22, 2025 Global nuclear power generation is on course to decline after a record-breaking 2024 on insufficient investment and aging power plants, the World Nuclear Industry Status Report has warned. Ahead of the official release of the report, later today, Reuters wrote that, in addition to already announced new nuclear projects, 44 new nuclear power plants […]Read More
16th September 2025 The Dangote Group has rejected allegations by the Depot and Petroleum Product Marketers Association of Nigeria that its refinery sells petrol to international traders at cheaper rates than those offered to Nigerian marketers. DAPPMAN’s Executive Secretary, Olufemi Adewole, had alleged in an interview that members of the group purchased Dangote’s petrol through […]Read More
September 01, 2025 Despite current challenges, Equinor still believes in the long-term prospects of offshore wind and will take part with $939 million in the $9.4-billion rights issue of the world’s offshore wind developer Ørsted, in which the Norwegian energy major holds 10%. Ørsted last month announced plans for a $9.4 billion (60 billion Danish crowns) […]Read More
AugUST 29, 2025 The United States (U.S) pumped an all-time high of 13.3 million barrels per day (bpd) of crude oil in 2024, the Energy Information Administration (EIA) said in its Petroleum Supply Annual released on Friday. That tops the previous record of 12.9 million bpd set in 2019, cementing the U.S. as the world’s […]Read More
August 28, 2025 India’s refiners are expected to import more Russian crude oil in September compared to this month’s levels as discounts are deepening amid Russia’s constrained refining capacity due to Ukrainian drone strikes, traders told Reuters on Thursday. A few weeks ago, the biggest state-owned refiners, including IndianOil and BPCL, pulled out of spot purchases of Russian crude […]Read More
August 27, 2025 Nigeria would like to see Brazil’s Petrobras return to the country after a five-year absence. This is as reported by media sources, citing a statement by President Bola Tinubu. President Tinubu is on a two-day visit to Brazil, where he said that “We have the largest gas repository. I don’t see why […]Read More
August 15, 2025 Hours before the Trump-Putin meeting in Alaska, Ukraine said it had struck an oil refinery in Russia and a Caspian port that Moscow uses to ship weapons from Iran for the war in Ukraine. Ukraine said it attacked overnight the Syzran refinery, owned by oil giant Rosneft and located in Russia’s Samara region, about 500 miles […]Read More
August 13, 2025 Indian state-owned Oil and Natural Gas Corporation Limited (ONGC), the biggest oil and gas explorer and producer in the country, booked a lower net profit for the April-June quarter from a year earlier on the back of falling prices and basically flat production. ONGC reported a net profit of $917 million (80.24 billion Indian […]Read More
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