Oil Prices Edge Higher Amid Diesel Demand Surge and Holiday Trade Oil prices gained on Monday in light, year-end trading as forecasts of colder temperatures in the U.S. and Europe bolstered diesel demand. Brent crude futures rose 22 cents (0.3%) to settle at $74.39 per barrel, with the more active March contract closing at $73.99,…
Nigerians Face 40% Telecom Tariff Hike Amid Economic Pressures. Nigerians are starting 2025 with the challenge of a 40% increase in telecom tariffs approved by the Nigerian Communications Commission (NCC). This hike, affecting phone calls, SMS, and data bundles, comes at a time when inflation stands at 39.93%, adding to the financial strain on households…
Russia Halts Natural Gas Transit Through Ukraine. On January 1, 2025, Russian state-owned energy company Gazprom announced the cessation of natural gas transit through Ukraine following Kyiv’s refusal to extend the gas transit agreement that expired at the end of 2024. According to TASS, the five-year agreement between Gazprom and Ukraine’s Naftogaz, which facilitated the…
Tantalizers Delves Into Maritime Business, Acquires Shipping Company with Fleet of Fishing Trawlers Tantalizers Plc has announced the signing of a Memorandum of Understanding (MoU) to acquire all assets of DanBethel Marine Services Limited, an Apapa-based marine and fishing enterprise. Apapa-Lagos-based DanBethel Marine Services is known for its fleet of fishing trawlers and related marine…
Miners Applaud Reversal of Five-Year Mining Ban in Zamfara State. Stakeholders in Nigeria’s mining sector have expressed their appreciation to the Federal Government for lifting the five-year ban on mineral exploration activities in Zamfara State. The commendation followed the recent announcement by the Minister of Solid Minerals Development, Dr. Dele Alake, who cited improved security…
Oil Prices Post 3% Annual Decline for Second Consecutive Year. Global oil prices saw a 3% decline in 2024, marking the second consecutive annual drop as the post-pandemic demand recovery slowed, China’s economy faced headwinds, and increased crude output from the U.S. and other non-OPEC producers flooded the market. On the year’s final trading day,…
Nigerian Navy Launches Operation Delta Sanity II On December 30, 2024, the Honourable Minister of State for Petroleum Resources – Oil, Senator Heineken Lokpobiri, flagged off Operation Delta Sanity II at the Nigerian Navy Ship (NNS) Pathfinder in Port Harcourt, Rivers State. The initiative builds on the successes of Operation Delta Sanity I, which was…
WhatsApp Will Stop Working on These Phones Starting January 1, 2025 As the year 2025 begins, WhatsApp will cease to function on several outdated devices, primarily due to compatibility updates that require newer operating systems. This move impacts users whose phones cannot be upgraded to a more recent OS. Compatibility Update The first wave of…
Templars Advises Seplat on Nigeria’s Largest Oil and Gas Bond Offering Templars, a leading Nigerian law firm, has provided legal counsel to Seplat Petroleum Development Company Plc on its record-breaking $650 million bond issuance. The offering, comprising guaranteed senior notes, marks the largest oil and gas bond issuance by a Nigerian company in the international…
TotalEnergies Extends Contract for DeepSea Mira Rig in West Africa. TotalEnergies has exercised an option to extend its contract with Northern Ocean for the use of the DeepSea Mira semi-submersible rig, securing the rig’s operations in West Africa for an additional three months. The extension, which adds approximately 65 to 93 days to the firm…
