August 22, 2025 The United States has sanctioned a Greek shipping entrepreneur, a network of his companies, and two Chinese crude oil terminal and storage operators as the Treasury is taking additional actions to disrupt Iranian oil exports and the shadow fleet enabling them.  The United States Department of the Treasury’s Office of Foreign […]Read More
August 22, 2025 Crude oil prices extended their Thursday gains earlier today, set for a weekly rise as the prospect of peace in the Ukraine dimmed amid seemingly incompatible demands from the warring parties. At the time of writing, Brent crude was trading at $67.63 per barrel, with West Texas Intermediate at $63.51 per barrel, both slightly down from […]Read More
Mainpower Electricity Distribution Company has filed a formal petition before the Enugu Electricity Regulatory Commission, EERC. The petition, dated 14th August, 2025, is a fallout of the tariff reduction order by the EERC, which took effect from August 1, 2025. The EERC had in the said order, reduced tariff for Band A customers from N209/kwh […]Read More
The House of Representatives Public Accounts Committee has summoned 11 electricity Distribution Companies (Discos) to appear before it over an outstanding debt of N2.6 trillion owed to the federation account. The resolution was reached on Wednesday during an investigative hearing chaired by Representative Bamidele Salam, following a review of the 2021 Auditor General’s report. The […]Read More
Lekoil Nigeria Limited, a leading indigenous oil and gas exploration and production company, has been honoured for its commitment towards empowering the next generation of Nigerians at the 2025 Enactus Nigeria National Competition held in Lagos. The honour was bestowed on the company in recognition of its support for such initiative designed to mould tertiary […]Read More
The Economic and Financial Crimes Commission EFCC, and the Nigerian Immigration Service NIS, have repatriated 51 more foreign nationals convicted and sentenced for cyber-terrorism and internet fraud. The repatriated foreign nationals include 50 Chinese and one Tunisian. This brings the total repatriated convicted foreign nationals to 102 in the ongoing exercise that commenced on Friday, […]Read More
August 20, 2025 The Chinese government is planning to reduce the number of oil refiners and petrochemicals producers in the country in a bid to solve the industry’s problem with overcapacity. According to a Bloomberg report, the authorities will shut down some smaller refineries and upgrade facilities that have become outdated. The latter constitutes some 40% […]Read More
August 19, 2025 India’s Oil and Natural Gas Corporation (ONGC) has begun a campaign to boost oil and gas production through well optimization and accelerating the start of production at recently made discoveries, the company has said, as quoted by Fortune India.India’s India’s ONGC produces some 70% of India’s crude oil and 84% of its natural gas. […]Read More
August 18, 2025 India should stop buying Russian crude oil as the trade undermines efforts to isolate Moscow, the White House trade adviser Peter Navarro wrote in an op-ed published in the Financial Times on Monday. The world’s third-largest crude oil importer, India has significantly boosted Russian oil imports since 2022, when Russia’s oil was banned in […]Read More
The Nigerian Immigration Service will today, Sunday, August 18, 2025, deport 42 out of the 192 Chinese and Philippine nationals convicted for cyber terrorism and Ponzi scheme offences back to their home countries. The first batch of deportees, scheduled to leave Nigeria at exactly 2:00 p.m. local time, were among 759 persons arrested during a […]Read More
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