In the News

KEY POINTS Global crude oil prices closed the week ending March 20, 2026, at $112 per barrel, marking an 8.22% weekly increase. Brent Crude Futures have climbed more than 53% …

KEY POINTS Algeria, the world’s third-largest oil producer, is making significant progress on the long-stalled $13 billion Trans-Sahara Gas Pipeline, a 4,100-kilometre initiative aimed at transporting natural gas from West …

KEY POINTS The Dangote Petroleum Refinery has reinforced Nigeria’s position in Africa’s energy market after exporting 456,000 tonnes of refined petroleum products through 12 cargoes handled by international traders. The …

KEY POINTS Nigeria continues to maintain one of the lowest fuel prices globally despite recent increases linked to geopolitical tensions in the Middle East. Data from GlobalPetrolPrices.com shows fuel in …

KEY POINTS Iran has warned it could shut the Strait of Hormuz indefinitely if the United States carries out threats to attack its power infrastructure. The warning followed a 48-hour …

KEY POINTS A major blackout has hit several parts of Lagos State following a fire outbreak along the Lekki-Epe Expressway, the Eko Electricity Distribution Company, EKEDC, has confirmed. The blackout …

KEY POINTS Italian energy company Eni S.p.A. has announced a significant offshore gas discovery in Libya, estimated at more than one trillion cubic feet (Tcf). The newly discovered reserves are …

KEY POINTS Shares of Chevron have pushed the company’s market capitalization above $400 billion for the first time, placing the oil major among the 20 most valuable publicly traded companies …

KEY POINTS Dangote Refinery has announced another upward review of its petrol pricing, raising the gantry price of Premium Motor Spirit (PMS) from ₦1,175 to ₦1,245 per litre, a ₦70 …

KEY POINTS Nigeria’s Minister of Power, Adebayo Adelabu, has assured citizens that improvements in electricity supply are on the horizon, despite the ongoing crisis crippling the sector. Speaking in a …