KEY POINTS Nigeria’s benchmark oil, Bonny Light, fell below $69 per barrel during the second trading session of the week. The drop in oil prices comes as escalating tensions between …
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KEY POINTS Conoil Plc reported its weakest annual profit in five years for 2025, as falling fuel sales, high borrowing costs, and growing short-term debt weighed heavily on the company. …
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KEY POINTS SBM Offshore, a Netherlands-based deepwater ocean-infrastructure company, has sold its largest Guyana-operated floating production storage and offloading vessel (FPSO), FPSO ONE GUYANA, to ExxonMobil Guyana Ltd for US$2.32 …
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KEY POINTS The Nigerian National Petroleum Company Limited, NNPC, has shut down its state-owned refineries following an internal review that revealed the facilities were incurring “monumental losses” and destroying value …
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In the NewsMarketsOil & Gas
Mixed Global LNG Outlook Raises Questions as NLNG Pushes Ahead with $10bn Train 7 Expansion
KEY POINTS Nigeria’s liquefied natural gas, LNG, sector is navigating a complex global landscape as the Nigeria LNG, NLNG, company presses ahead with its ambitious Train 7 expansion project, even …
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In the NewsMarketsOil & Gas
ExxonMobil Posts $6.5bn Q4 Earnings as Full-Year Profit Falls to $28.8bn
KEY POINTS ExxonMobil has reported earnings of $6.5 billion for the fourth quarter of 2025, bringing its full-year profit to $28.8 billion, according to the company’s latest financial statement. The …
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KEY POINTS Oil marketers across Nigeria say the recent surge in petrol pump prices is squeezing their businesses, making it increasingly difficult to raise enough capital to purchase products from …
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In the NewsMarketsOil & Gas
Marketers Warn Petrol May Hit N1,000 per Litre as Global Crude Prices Surge
KEY POINTS International oil benchmarks surged past $70 per barrel this week, with Brent crude reaching $70.71 and US West Texas Intermediate hitting $65.42. By Friday, prices climbed further to …
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KEY POINTS Petroleum marketers, industry experts, and unions in Nigeria’s downstream sector have raised concerns over what they describe as persistent price instability and uncertainty in the supply, distribution, and …
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KEY POINTS ExxonMobil has reported a decline in its fourth-quarter earnings, blaming weaker crude oil prices for offsetting gains recorded from higher production volumes. The US energy giant posted profits …
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