Author: majorwavesen

Oil Prices Set for Weekly Loss as Supply Expectations Weigh on Market Oil prices fell for a third consecutive session on Friday, positioning benchmarks for their first weekly decline in three weeks as traders weighed rising supply expectations and surprise builds in U.S. inventories. Brent crude futures slipped 35 cents, or 0.5%, to $66.64 a…

Putin Calls China Gas Pipeline a ‘Mutually Beneficial Project’ With Market-Based Pricing Russian President Vladimir Putin has reaffirmed his commitment to building the Power of Siberia 2 gas pipeline to China, describing the project as mutually beneficial and one of the largest energy initiatives in the world. Speaking at the Eastern Economic Forum in Vladivostok,…

Western Oil Price Cap Fails to Curb Russian Exports as Economy Holds Firm Western sanctions, including the much-publicized oil price cap, have fallen short of meaningfully reducing Russia’s oil revenues or crippling its economy, according to fresh data and market assessments. Russia’s GDP grew 1.1% in the second quarter of 2025 — slower than the…

Dangote Refinery Gasoline Outage May Extend Into November Amid Major Repairs Nigeria’s 650,000 barrels-per-day Dangote Refinery is facing an extended gasoline production halt that could last until November, after new assessments revealed deeper technical setbacks at its catalytic cracking unit. The refinery’s Residue Fluidized Catalytic Cracking Unit (RFCCU) — central to gasoline output — was…

CORAN Summit 2025 Set to Shape Africa’s Refining Agenda for Energy Security The Crude Oil Refiners Association of Nigeria (CORAN) has announced the CORAN Summit 2025, scheduled for October 6–7, 2025, at Eko Hotels & Suites, Victoria Island, Lagos. With the theme “Refining – Key to Energy Security in Africa,” the two-day event will bring…