KEY POINTS Iran has warned that global oil prices could surge to as high as $200 per barrel as tensions in the Middle East escalate and attacks on merchant vessels …
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Markets
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KEY POINTS Geregu Power Plc has projected a profit after tax of approximately N8.17 billion for the second quarter ending June 30, 2026, according to its earnings forecast released to …
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In the NewsMarketsOil & Gas
Federal High Court Rejects Aiteo’s Objection in N122 Billion Nembe Oil Spill Case
KEY POINTS A Federal High Court in Yenagoa, Bayelsa State, has dismissed a preliminary objection filed by Aiteo Group in a N122 billion lawsuit brought by the Opu Nembe Kingdom …
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In the NewsMarketsOil & Gas
FG Insists on Market-Based Petrol Pricing Despite Global Oil Market Volatility
KEY POINTS The Federal Government has reaffirmed its commitment to maintaining a market-driven pricing regime for petrol, stressing that it will not impose price controls even as escalating geopolitical tensions …
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In the NewsMarketsOil & Gas
Oando Signals Delay in 2025 Audited Financial Results Over Post-Acquisition Systems Integration
KEY POINTS Oando Plc has announced that it may be unable to publish its audited financial statements for the 2025 financial year by the March 31, 2026 regulatory deadline due …
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In the NewsMarketsOil & Gas
Iran Threatens Middle East Oil Blockade as Trump Warns of ‘Much Harder’ U.S. Strikes
KEY POINTS Iran’s Revolutionary Guards have warned that no oil will leave the Middle East if the ongoing attacks by the United States and Israel persist, escalating tensions in an …
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In the NewsMarketsOil & Gas
Oil Prices Slide as Global Leaders Move to Contain Iran War Supply Shock
KEY POINTS Global oil prices fell sharply as world leaders moved to reassure markets that measures are being prepared to cushion the impact of the ongoing war involving Iran on …
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In the NewsMarketsOil & Gas
Nigeria’s Petrol Consumption Drops to 56.9m Litres Daily as Local Refining Gains Ground
KEY POINTS Nigeria’s average daily consumption of Premium Motor Spirit (PMS), commonly known as petrol, declined to 56.9 million litres per day in February 2026, down from 60.2 million litres …
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In the NewsMarketsOil & Gas
Domestic Refining Cannot Fully Shield Nigeria from Global Fuel Price Swings – CPPE
KEY POINTS Nigeria’s growing domestic refining capacity may improve energy security and reduce dependence on imports, but it cannot completely shield the country from fluctuations in global fuel prices, according …
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In the NewsMarketsOil & Gas
Middle East Conflict May Push Petrol Price to ₦2,000 Per Litre – Marketers Warn
KEY POINTS The Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, has warned that petrol prices in Nigeria could soar to nearly ₦2,000 per litre if the ongoing crisis …