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MEMAN warns 15% fuel import tariff may increase price beyond N1,000

MEMAN warns 15% fuel import tariff may increase price beyond

November 11, 2025

November 10, 2025 Major Energy Marketers Association of Nigeria (MEMAN) has warned that the proposed 15 per cent import tariff on petrol and diesel could raise pump prices above N1,000 per litre. Executive Secretary, MEMAN, Mr Clement Isong, said the tariff, if implemented, would have far-reaching effects on consumers, transporters and small businesses already battling […]Read More

SAIPEC 2026: Celebrating a Decade of Energy, Oil, and Gas Innovation in Sub-Saharan Africa

SAIPEC 2026: Celebrating a Decade of Energy, Oil, and Gas

November 11, 2025

SAIPEC 2026: The Sub-Saharan Africa International Petroleum Exhibition and Conference will return to the Eko Convention Centre in Lagos from 10-12 February 2026, marking the 10th edition of Africa’s largest energy, oil, and gas event. For a decade, SAIPEC has been at the heart of the energy sector, uniting stakeholders from across Sub-Saharan Africa to […]Read More

Lukoil Declares Force Majeure at Huge Iraqi Oilfield After U.S. Sanctions

Lukoil Declares Force Majeure at Huge Iraqi Oilfield After U.S.

November 10, 2025

November10, 2025 Russian oil giant Lukoil has declared force majeure at the 400,000-barrels-per-day West Qurna-2 oilfield in Iraq after the U.S. sanctions on Russia’s top oil firms, sources familiar with the matter told Reuters on Monday.  Following the October 22 U.S. sanctions on Lukoil and Rosneft, Iraq has stopped all cash and crude payments to Lukoil, according […]Read More

Shell Abandons Two Major UK Offshore Wind Projects

Shell Abandons Two Major UK Offshore Wind Projects

November 10, 2025

November 10, 2025 Shell has exited two offshore wind power projects in Scotland as the world’s top oil and gas firms continue to scale back their investment and involvement in renewable energy.    Shell has ditched plans to build two wind farms offshore Scotland, days after announcing it is withdrawing from the Atlantic Shores Offshore […]Read More

Japan Raises Fuel Subsidies to Offset Tax Cuts

Japan Raises Fuel Subsidies to Offset Tax Cuts

November 7, 2025

November 07, 2025 Japan will gradually increase fuel subsidies for households until it scraps the gasoline and diesel taxes at the end of this year and in April next year, with subsidies intended to avoid consumers waiting until 2026 to fill up with cheaper fuel.  Japan’s ruling and opposition parties last week agreed to scrap […]Read More

Court dismisses Dangote suit against NMDPRA, others

Court dismisses Dangote suit against NMDPRA, others

November 5, 2025

Honourable Justice M.G. Umar of the Federal High Court sitting in Abuja, today dismissed the suit filed by Dangote Petroleum Refinery and Petrochemicals FZE against the Nigerian Midstream and Downstream Petroleum Regulatory Authority and six others.   The dismissal was sequel to a notice of discontinuance filed by Dangote Refinery and Petrochemicals FZE, after all […]Read More

Otedola Lauds Tinubu’s Implementation of 15% Fuel import tariff

Otedola Lauds Tinubu’s Implementation of 15% Fuel import tariff

November 5, 2025

Femi Otedola, the Chairman of First Bank of Nigeria, has described the implementation of the 15 percent import tariff on petroleum products by President Bola Tinubu as “bold and decisive”. The businessman, in a post, Otedola said the policy was crucial to securing and sustaining investments in the downstream sector. He wrote: “I commend President […]Read More

ExxonMobil Names Jon Gibbs to Lead New Global Operations Division

ExxonMobil Names Jon Gibbs to Lead New Global Operations Division

November 5, 2025

November 04, 2025 ExxonMobil Corporation  announced a major reorganization that will centralize its operations into a new entity, ExxonMobil Global Operations, effective in 2026, as part of its continuing effort to improve efficiency and execution across its business units. The restructuring will consolidate operations supporting the company Product Solutions, Low Carbon Solutions, and Upstream businesses into […]Read More

Oil Prices Drift Lower as Demand Weakness Weighs on Markets

Oil Prices Drift Lower as Demand Weakness Weighs on Markets

November 5, 2025

November 04, 2025 Oil prices slipped modestly in early Asian trading on Wednesday, with the West Texas Intermediate (WTI) down 0.71% to $60.13 and Brent crude trading 0.62% lower at $64.04. The subdued tone reflects a market caught between weak demand signals and lingering supply concerns. On the demand side, investors remain cautious about global growth prospects, especially in […]Read More

Indian Refining Giant Switches From Russian to Emirati Crude

Indian Refining Giant Switches From Russian to Emirati Crude

November 3, 2025

November 03, 2025 Bharat Petroleum, one of the largest refiners in India, has bought a cargo of Emirati Upper Zakum crude, as it seeks alternatives to Russian oil, Reuters has reported, citing unnamed sources. The cargo is 2 million barrels, to be delivered next month. Bharat Petroleum bought it on the spot market, where it previously […]Read More

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