In the News

Nigeria’s crude oil production surged to 1.737 million bpd in January, its highest in three years, as the country aims for 2.3 million bpd by 2025.

NARTO warns that banning 60,000-liter fuel tankers could result in N300 billion in losses. The association urges the government to find a balanced solution.

Trump’s Gaza plan faces strong opposition from global leaders, with Middle East allies rejecting forced Palestinian relocation. The move threatens U.S. influence in the region

PG&E increased its 2025 earnings forecast, citing higher electricity rates and cost reductions. The company also reported adding 14,000 new customers.

Elliott Management has acquired a 5 percent stake in BP and is urging the company to sell assets and cut costs to boost profitability.

Chevron plans to lay off up to 20 percent of its workforce by 2026, offering buyouts and restructuring leadership to cut costs and improve efficiency.

Middle East tensions escalate as Trump’s policies spark conflicts with Hamas, Iran, and OPEC+, raising fears of war and rising oil prices

U.S. power demand is projected to break records in 2025 and 2026, with rising electricity use from AI, cryptocurrency, and renewable energy expansion.

BP announces a major strategy reset as profits fall by 35 percent, with CEO Murray Auchincloss promising cost cuts and improved financial performance.

BP shares surged 7 percent after reports of Elliott Management’s stake, fueling speculation about leadership changes and a revised corporate strategy.