Markets

KEY POINTS A South African court has thrown out environmental approval for an offshore oil and gas exploration project led by TotalEnergies, ruling that the French energy giant’s assessment failed …

KEY POINTS After the U.S. Energy Information Administration (EIA) predicted that Brent crude could average below $60 a barrel in the fourth quarter, a level last observed during the pandemic’s …

KEY POINTS According to new data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigeria’s daily fuel consumption fell precipitously in June, with overall supply levels reaching one …

KEY POINTS Dangote refinery has lowered the wholesale price of gasoline, the second big action in two months to stabilize supply and ease pressure on petrol prices. On Tuesday, Dangote …

KEY POINTS In a candid revelation from his upcoming memoir, Making It Big: Lessons from a Life in Business, Femi Otedola, Nigeria’s billionaire investor and philanthropist, shares a harrowing chapter …

KEY POINTS Oil marketers in Nigeria are sounding the alarm over Dangote Refinery’s plan to distribute fuel directly to end-users, warning that the move could destabilize the downstream petroleum supply …

OPEC+ plans a major oil output hike by November as Saudi Arabia cracks down on members violating production quotas

Oil prices fall as the US-China trade war raises concerns over global economic growth and reduced fuel demand

Shell lowers its LNG production forecast for the first quarter due to cyclones and unplanned maintenance, expecting output between 6.4-6.8 million tons

Oil prices drop 6% following new tariffs and OPEC+ output increase, marking the steepest decline since 2022