Tuesday, December 5, 2023
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Oil Prices Surges Over Lingering Supply Risks

[ MAIN ]
Tuesday saw a rise in crude oil prices around the world as the market assessed the continued supply threats posed by Iran's oil flows...

Price Of Petrol Was At N626.21 In September- NBS

[ MAIN ]
The average retail price of a litre of petrol rose from N191.65 in September 2022 to N626.21 in September 2023, according to the National...

Petrol Depot Empty As Landing Cost Hits N720/litre

CHEMICAL & PETRO-CHEMICAL
Many petroleum product depots are presently abandoned owing to a scarcity of supplies caused by currency volatility, as the landing cost of Premium Motor...

NNPCL To Trade N2.6tn Crude For Refined Products

[ MAIN ]
The most recent statistics from the Nigeria Extractive Industries Transparency Initiative (NEITI) revealed that the Nigerian National Petroleum Company Limited (NNPCL) swapped crude oil...

Crude Oil Price Increases Admist Supply Constraints

[ MAIN ]
Crude oil prices continue to climb as a result of global supply restrictions. Brent oil futures surged above $95 per barrel on Tuesday, hovering...

African Oil Production Encounters Multiple Challenges In Second Quarter 2023, Remains Resilient

CHEMICAL & PETRO-CHEMICAL
Africa plays a vital role in the global oil market, with its producing nations contributing around 8% of total global supply. However, the second...

Fuel Subsidy Prompts NNPCL To Work On Vandalised Pipelines

CHEMICAL & PETRO-CHEMICAL
The shortage of Premium Motor Spirit, sometimes known as fuel, in sections of Lagos and the South-Western states may last until the end of...

Fuel Price Surge Causes Panic Buying In Lagos

CHEMICAL & PETRO-CHEMICAL
Automobile drivers in Lagos have resorted to frantic purchases of the product because of fear that gasoline prices may soon be revised upward. There...

Oil Marketers Kick Against FG Price Increase Disapproval

CHEMICAL & PETRO-CHEMICAL
Following importers' difficulty to obtain US dollars and the effects this was having on companies, oil marketers recommended President Bola Tinubu on Tuesday to...

Oil Marketers To Sell N720/litre After Fuel Import Halt

CHEMICAL & PETRO-CHEMICAL
On Sunday, oil marketers warned that if the dollar kept fluctuating between N910 and N950 on the black market, the price of Premium Motor...

Fuel Subsidy Removal, FX Reform Are Bringing Positive Results – Tinubu

BUSINESS & ECONOMY
President Bola Tinubu says the Federal Government is receiving support and plaudits from the international community for removing fuel subsidies and implementing foreign exchange...

Worldwide Petrol Price Increases By 20%

CHEMICAL & PETRO-CHEMICAL
Petrol prices may climb higher, as worldwide market figures show that the commodity has gained 20%. Brent crude was trading about $78 per barrel...
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