October 28, 2025 The chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, on Tuesday met with Chuba Ezenwa, managing director and head of Investment Banking, Sub-Saharan Africa, Bank of America, as part of efforts to attract investments and boost oil production. Komolafe, who hosted Ezenwa in his office, said the engagement […]Read More
October 27, 2025 The oil market initially saw prices rise after the US sanctioned Russia’s top two oil producers, Rosneft and Lukoil, but traders are now questioning the long-term impact of these sanctions. Investment banks and market participants, including analysts from SEB and Barclays, are expressing skepticism that the sanctions will lead to a sustained […]Read More
October 27, 2025 China has increased its underground gas storage capacity by the most of any country since 2022, the International Gas Union (IGU) said in a new report on Monday. As of 2025, there are 699 underground natural gas storage facilities in operation worldwide, with a total working gas volume of 424 billion cubic metres (bcm), […]Read More
October 27, 2025 India imported 19.93 million tons of crude oil last month, a 1.7% increase from August, the Economic Times reported, citing government data. The total is equal to roughly 4.87 million barrels daily. The annual increase in imports for September was more pronounced, at 6.1%, the data also showed. In oil products, the government’s […]Read More
October 24, 2025 Global Exports of liquefied natural gas increased to 34.59 million tons last month, which was the highest on record, the Gas Exporting Countries Forum reported. The global increase was driven by a boost in imports, at an annual 3.7%, which in turn was driven by a surge in demand in the European […]Read More
Dangote Group has refuted reports circulating on social media and in some online platforms linking it to a truck involved in a road accident in Akungba-Akoko, Akoko South-West Local Government Area of Ondo State. The company wishes to make it categorically clear that the truck involved in the unfortunate incident does not belong to Dangote […]Read More
October 22, 2025 India and Brazil, both hit with steep 50% U.S. tariffs under the Trump administration, are strengthening strategic, trade, and energy ties to counterbalance the economic impact. The two BRICS nations signed new agreements in agriculture, renewable energy, infrastructure, and innovation. Brazil is exploring crude oil export opportunities to India. Two of the […]Read More
October 22, 2025 Brazil’s state-run oil company Petrobras could begin producing oil and gas in the Foz do Amazonas basin within seven to eight years if major reserves are confirmed, Chief Executive Magda Chambriard told Reuters on Tuesday. The basin, located off the coast of the Amazonian state of Amapá, is considered the company’s most promising new […]Read More
October 22, 2025 BP has confirmed the preliminary results of the Volans-1X exploration well in Namibia’s Orange Basin, marking another hydrocarbon success in one of the world’s most closely watched frontier regions. The well, located in Petroleum Exploration License 85 (PEL85), was drilled by operator Rhino Resources using the Deepsea Mira semi-submersible rig to a […]Read More
October 22, 2025 China’s total oil product demand jumped by 416,000 barrels per day (bpd) in August from July, the latest data by the Joint Organizations Data Initiative (JODI) showed on Wednesday.  The data compiled from reports submitted by the individual countries also showed that the increase in China’s crude oil imports was higher than the rise […]Read More
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