Tag Archives: Oil

Nigeria’s daily average oil production rose by 152,000 barrels per day in November 2024, according to data sourced from the newly released monthly oil market report by the Organization of the Petroleum Exporting Countries, The data from OPEC MOMR for December 2024 showed that the country’s production, including condensates, rose by 11 percent, from 1.333 million barrels in October to …

The Biden administration’s new sanctions target Russia’s oil giants Gazprom Neft and Surgutneftegas, shadow fleet vessels, and opaque traders. Oil prices surged, while European equities slid as investors fear tighter global supply. ADVERTISEMENT The Biden administration unveiled Friday sweeping sanctions targeting Russia’s oil sector, shaking global energy markets and deepening the economic isolation of Moscow just ten days before Donald …

Crude oil prices rose to a three-week high amid mounting concerns over supply disruptions and increasing demands. However, technical analysts caution that oil markets may be over-bought. ADVERTISEMENT Crude oil prices extended gains in the Asian session on Wednesday, with the Brent futures up 0.35% to $77.32 per barrel, and the WTI futures rising 0.50% to $74.61 per barrel at …

Speed Darlington’s lawyer, Stan ALieke, has waded into the online fight between singer Burna Boy and socialite, Cubana Chief Priest.   In a post shared on his Instastories, Stan dared Burna Boy to arrest Cubana Chief Priest for using the Diddy and baby oil banter to insult him on Friday night, January 3.   Recall that Burna Boy in October …

Donald Trump has criticized the UK’s plan to shift away from North Sea oil and gas production, calling it a “very big mistake” and urging the country to “open up the North Sea” and “get rid of windmills” in a post on his Truth Social platform.    The remarks represent the latest critique of Sir Keir Starmer’s Labour government from …

Troops of 6 Division, Nigerian Army, in conjunction with other security agencies have arrested eight suspects allegedly involved in illegal bunkering and oil refining in parts of the Niger Delta region.      The Acting Deputy Director, 6 Division Army Public Relations, Danjuma Jonah, who disclosed this in a statement on Sunday, December 29, 2024, said the troops also dismantled …

With an estimated cost of over €100m, the supercomputer – known as the HPC6 – will be able to handle a number of artificial intelligence functions, as well as highly sophisticated calculations, with the help of nearly 14,000 graphics processing units (GPUs). ADVERTISEMENT Italian energy company Eni has revealed one of the world’s most powerful supercomputers, in an attempt to …

US president-elect keeps the prospect of a transatlantic trade war in the air, exactly a month before he is due to walk back into the White House. ADVERTISEMENT EU officials played down today Donald Trump’s latest tariff threat, after the US president-elect warned of dire consequences unless the bloc ramps up its purchases of American oil and gas. Trump posted today …

US President-elect Donald Trump has issued a warning to the European Union, threatening tariffs if its member countries do not increase their purchases of American oil and gas.   “I told the European Union that they must make up their tremendous deficit with the United States by the large scale purchase of our oil and gas. Otherwise, it is TARIFFS …

Oil marketers lifting the Premium Motor Spirit, PMS, also known as petrol from Dangote Petroleum Refinery, have slashed the price of the product by 11.8 per cent to N939.50 per litre, from N1,060 per litre.   Some fuel stations in Lagos state have since reflected the new pump price as of this morning December 20. On Thursday, December 19, Dangote …