Oil Prices Soar Amid Escalating Geopolitical Tensions: WTI Records a Sharp 2.6% Jump Oil prices jumped on Wednesday as geopolitical tensions in the Middle East and Eastern Europe outweighed concerns about weakening demand and slowing economic growth. West Texas Intermediate (WTI), the benchmark U.S. crude oil price, climbed over 2.3% to settle at $75.31 per…
Lekki Deep Sea Port Welcomes Largest Container Ship on Nigerian Waters, a 13,092 TEUs Vessel The berthing of the Maersk Edirne, a container ship with a capacity of 13,092 TEUs, at Lekki Port in Nigeria marks a significant milestone. Lekki Port, known as Nigeria’s deepest seaport, welcomed the largest container ship ever to dock in…
Cooking Gas Prices Bite Deeper: 8.7% Increase in a Year, Burdening Nigerian Homes Cooking gas prices in Nigeria have recently surged, as indicated by the latest report from the National Bureau of Statistics (NBS). The average cost of a 5kg cylinder has escalated by 8.7% within just one year, reaching N4,962.87 compared to N4,565.56 in…
NUPRC and Police Collaborate to Combat Oil Theft in Nigeria The fight against oil theft in Nigeria is intensifying as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Police Force forge a strategic alliance. Gbenga Komolafe, the Chief Executive Officer of NUPRC, held discussions with the Inspector General of Police, Kayode Egbetokun, at…
Dangote Refinery Gears Up for Distribution of Refined Products across Nigeria Dangote Petroleum Refinery is setting the stage for the widespread distribution of its refined petroleum products across Nigeria. The company has begun registering distributors and collaborating with key industry associations to ensure smooth delivery to consumers nationwide. Dangote has already registered members of three…
Nigerian Oil Industry Focuses on Growth and Investment in 2024 and Beyond The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and key industry players, the Oil Producers Trade Section (OPTS) and Independent Petroleum Producers Group (IPPG), met in Lagos this week to chart a course for sustainable investment and growth in the Nigerian oil and gas…
Seatrade Maritime Logistics Middle East Announces 2025 Dates The upcoming 3-day exhibition and conference will once again be hosted at the Dubai World Trade Center, bringing together maritime leaders, experts, and policymakers from around the world for a crucial industry event. The previous edition, held in May 2023 under the patronage of the UAE Ministry…
James Bay Resources Celebrates Favorable Court Decision in Claims Against Mak Mera and Wale Sola James Bay Resources Limited (CSE: JBR) has announced the outcome of the Ontario Superior Court of Justice’s decision in the case against Mak Mera Nigeria Limited (“Mak Mera”) and Wale Sola. Justice Papageorgiou ruled in favor of James Bay on…
Dangote Industries’ Remarkable Growth and Impact on Nigeria’s Economic Landscape Nigeria’s business magnate, Aliko Dangote, recently inaugurated a cutting-edge integrated cement plant in Maisaiti district, Ndola, with a capacity of 1.5 million metric tonnes per annum. The project includes a 30-megawatt coal-fired plant, marking Dangote Industries Limited’s sixth integrated cement plant outside Nigeria, demonstrating the…
Court Allows Former CBN Governor Emefiele to Travel Outside FCT, With Stipulation to Remain in Nigeria On Thursday, Justice Hamza Muazu of the Federal Capital Territory High Court granted the request of Godwin Emefiele, the immediate past Governor of the Central Bank of Nigeria, to travel outside the Federal Capital Territory. However, the court specified…
