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Oil & Gas - Page 71

U.S. Seizes Sanctioned Venezuelan Oil Tanker, Escalating Tensions

The United States has seized a sanctioned Venezuelan oil tanker off the country’s coast, President Trump announced Wednesday, escalating tensions with Caracas and sending oil prices higher. “We’ve just seized a tanker on the coast of Venezuela, very large, largest one ever,”

December 11, 2025

NNPCL Denies Inflating Fuel Subsidy Payments

Business·Oil & Gas

Nigeria Records 164 Crude Oil Theft Incidents In One Week

The Nigerian National Petroleum Company (NNPC) Limited revealed that between 19 to 25 August 2023, about 164 crude oil theft incidents were recorded amid declining oil output. Of the total crude oil theft, 49 cases of unauthorised refineries were discovered, 41 illegal

August 30, 2023

Tinubu Set To Attend COP 28 Summit In Dubai

Business·Oil & Gas

Diesel Price To Rise, As FG Moves To Charge VAT After Oil Sector GDP Contribution Drops

The price of diesel might rise as the Nigeria Customs Service (NCS) is set to implement a value-added tax (VAT) on imported automobile gas oil (AGO), also known as diesel. According to a report by the National Bureau of Statistics (NBS), a

August 30, 2023

Business·Oil & Gas

Why Oil Sector Contribution To Nigeria’s GDP Plummeted By N470bn

The oil sector’s contribution to Nigeria’s Gross Domestic Product (GDP) fell by 13.7 per cent between the first and second quarters of 2023 according to data obtained from the National Bureau of Statistics (NBS). Prime Business Africa understands that the decline represents

August 29, 2023

IMF Sympathises With Victims Of Kenya Anti-tax Protest

Business·Oil & Gas

IMF Backs Fuel Subsidy Removal, As Gov’ts Spend $7trn To Lower Prices

About $7 trillion was spent globally on explicit and implicit fossil-fuel subsidies in 2022, the International Monetary Fund (IMF) revealed in a new report. With the cost of subsidies rising by $2 trillion over the past two years, the IMF advised governments

August 25, 2023

Business·Oil & Gas

IPMAN Asks FG To Partner With Illegal Refinery Operators In Creeks

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has advised the Federal Government to take advantage of the technology used by illegal refineries. According to the Chairman of IPMAN’s Enugu Depot Community, Chinedu Anyaso, Nigeria’s refining challenges could be resolved with the

August 23, 2023

Oil & Gas

Minister Of State For Gas Targets Reduction In Transportation Costs

Ekperikpe Ekpo, Nigeria’s Minister of State for Gas, has embarked on a collaborative mission with the Ministry of Petroleum Resources to tap into the country’s abundant natural gas reserves. The primary goal of this initiative is to alleviate transportation costs for Nigerian

August 23, 2023

Business·Oil & Gas

FG Loses N249bn To Decline In Crude Output, Fuel Hike Drops PMS Consumption

In July 2023, Nigeria’s total crude oil production fell to 33.5 million barrels, resulting in about N249 billion or $320.4 million lost last month, worsening the Federal Government’s revenue problem in the oil industry. Nigeria had pumped 37.5 million barrels of crude

August 21, 2023

Business·Oil & Gas

NNPC Denies Plans To Increase Fuel Price

The Nigerian National Petroleum Company (NNPCL) has clarified that it will not increase the price of Premium Motor Spirit (PMS) in its retail outlets. The national oil company made this known in a statement on Monday night. The company in a statement

August 15, 2023

NLC Blames Govt Officials For Forex Crisis, Demands Urgent Stabilisation Of Naira

Business·Oil & Gas

NLC Considers Indefinite Nationwide Shutdown Over Proposed Hike In Fuel Price

The President of the Nigeria Labour Congress (NLC), Joe Ajaero, has warned that another increase in the fuel price will lead to an indefinite nationwide shutdown. Ajaero made the warning at the African Trade Union alliance meeting in Abuja, on Monday, after

August 14, 2023

Business·Oil & Gas

Oil Marketers Suspend Fuel Importation

The Executive Secretary, Major Oil Marketers Association of Nigeria (MOMAN), Clement Isong, has disclosed that oil marketers have suspended their interest in the importation of Premium Motor Spirit (PMS). Isong said the scarcity of foreign exchange in the Investors’ and Exporters’ window

August 14, 2023

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Bank of Japan Poised to Lift Rates to 30-Year High as Inflation Pressures Persist

The Bank of Japan (BOJ) is set to raise its

SEC Orders Full Registration of Tradable Instruments by January 2026

The Securities and Exchange Commission (SEC) has ordered all Capital

UK Targets Sugary Milk Drinks as Government Tightens Health Levy

The UK Labour government has expanded its existing sugar tax

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 26th November 2025

What is the dollar-to-naira exchange rate on the black market,

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Oil & Gas - Page 71

U.S. Seizes Sanctioned Venezuelan Oil Tanker, Escalating Tensions

Nigeria Records 164 Crude Oil Theft Incidents In One Week

Diesel Price To Rise, As FG Moves To Charge VAT After Oil Sector GDP Contribution Drops

Why Oil Sector Contribution To Nigeria’s GDP Plummeted By N470bn

IMF Backs Fuel Subsidy Removal, As Gov’ts Spend $7trn To Lower Prices

IPMAN Asks FG To Partner With Illegal Refinery Operators In Creeks

Minister Of State For Gas Targets Reduction In Transportation Costs

FG Loses N249bn To Decline In Crude Output, Fuel Hike Drops PMS Consumption

NNPC Denies Plans To Increase Fuel Price

NLC Considers Indefinite Nationwide Shutdown Over Proposed Hike In Fuel Price

Oil Marketers Suspend Fuel Importation

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Air Peace Ushers in Third Embraer 190, Reinforcing Capacity and Additional Festive Connectivity

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Amnesty International Lists Alleged Gross Human Rights Violations Under Buhari’s Administration

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