Markets

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

KEY POINTS TotalEnergies has formally restarted construction of its $20 billion Mozambique LNG project, bringing to an end a nearly five-year suspension of one of Africa’s largest energy investments. Work …

KEY POINTS Crude oil prices climbed sharply on Thursday, extending gains for a third consecutive session, as growing fears of a potential US military strike on Iran heightened concerns about …