Oil & Gas

KEY POINTS Nigeria’s petrol import bill fell to $10 billion in 2025, a 28.88% drop from $14.06 billion in 2024, according to the Central Bank of Nigeria (CBN). The reduction …

KEY POINTS French energy company TotalEnergies and the United States government announced an agreement to redirect nearly $1 billion from offshore wind leases to domestic oil and natural gas projects. …

KEY POINTS Nigeria earned $31.54 billion from crude oil exports in 2025, according to data released by the Central Bank of Nigeria (CBN). The figure represents a 14.41 percent decline …

KEY POINTS Goldman Sachs has raised its oil price forecasts for 2026, citing a severe disruption to crude flows through the Strait of Hormuz that the bank described as the …

KEY POINTS Egypt petroleum ministry has announced that the country will pay $1.3 billion in arrears to international oil companies by June, advancing its previously scheduled repayment timetable. The move …

KEY POINTS Global crude oil prices closed the week ending March 20, 2026, at $112 per barrel, marking an 8.22% weekly increase. Brent Crude Futures have climbed more than 53% …

KEY POINTS Algeria, the world’s third-largest oil producer, is making significant progress on the long-stalled $13 billion Trans-Sahara Gas Pipeline, a 4,100-kilometre initiative aimed at transporting natural gas from West …

KEY POINTS The Dangote Petroleum Refinery has reinforced Nigeria’s position in Africa’s energy market after exporting 456,000 tonnes of refined petroleum products through 12 cargoes handled by international traders. The …

KEY POINTS Nigeria continues to maintain one of the lowest fuel prices globally despite recent increases linked to geopolitical tensions in the Middle East. Data from GlobalPetrolPrices.com shows fuel in …

KEY POINTS Iran has warned it could shut the Strait of Hormuz indefinitely if the United States carries out threats to attack its power infrastructure. The warning followed a 48-hour …