September 05, 2025 Crude oil prices were on course to end the week with a loss, with the decline starting on Wednesday and extending into Friday, reversing a string of gains that lasted two weeks. At the time of writing, Brent crude was trading at $66.88 per barrel, with West Texas Intermediate at $63.34 per barrel, as oil traders […]Read More
September 04, 2025 A potential return of U.S. supermajor ExxonMobil to Russian operations would be beneficial for the region of Sakhalin in Russia’s Far East and help Russia’s energy sector, Sakhalin’s governor Valery Limarenko has told Reuters. Ahead of the Trump-Putin meeting in mid-August, Russia and the United States had reportedly discussed Exxon returning to the Sakhalin-1 oil […]Read More
September 04, 2025 Nigeria’s 650,000 bpd Dangote Refinery faces a prolonged gasoline outage after reports that repairs to its catalytic cracking unit could take two to three months, far longer than the earlier two-week estimate. The refinery’s Residue Fluidized Catalytic Cracking Unit (RFCCU), the key gasoline-making unit, has been offline since August 29 following catalyst […]Read More
September 03, 2025 Crude oil prices stabilized today after inching up on Tuesday following the news of new U.S. sanctions on people involved in exporting Iranian crude disguised as Iraqi crude. At the time of writing, Brent crude was trading at $68.93 per barrel and West Texas Intermediate was trading at $65.42 per barrel, both slightly down from opening. […]Read More
September 03, 2025 Strong demand for crude oil from Asian countries, especially China, has insulated Brazil’s Petrobras from the worst of the tariff war fallout, chief executive Magda Chambriard told Bloomberg in an interview. “There is a lot of demand in Asia for our products,” Chambriard told the publication at an industry event in Sao Paulo, adding […]Read More
September 02, 2025 Russia’s gas giant Gazprom on Tuesday signed an agreement with China’s state energy firm CNPC to build a second huge natural gas pipeline from Russia to China, Gazprom’s CEO Alexey Miller said. Russia bets on selling increased volumes of energy products to China after losing Europe as a key oil and gas export […]Read More
Nigerian National Petroleum Company Limited (NNPC Ltd.) has appointed two seasoned executives, Mr. Andy Odeh and Mrs. Morenike Adewunmi, to key leadership positions. Odeh assumes the role of Chief Corporate Communications Officer, while Adewunmi has been appointed Chief Relations Officer. Odeh brings over three decades of extensive experience in communications and business administration across the […]Read More
September 02, 2025 Saudi Arabia’s budget deficit is growing this year as oil prices are down from last year’s levels and well below the $90 per-barrel price the Kingdom is estimated to need to balance its budget. Brent Crude oil prices have declined by about 8% since the beginning of the year, at around $69 a […]Read More
The GCEO, NNPC Ltd., Engr. Bashir Bayo Ojulari has revealed that the company aims to ramp up oil and gas production and expand the nation’s refining capacity, with a goal of attracting at least $60 billion in fresh investments. Ojulari, who dropped this hint during a courtesy visit of the Executive Secretary/CEO of the Nigeria […]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
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