OPEC+ Likely to Extend Oil Cuts into Q1 2025 Amid Market Challenges OPEC+ is expected to extend its current oil output cuts through the first quarter of 2025, according to sources familiar with the discussions. The decision, set to be finalized at Thursday’s meeting, aims to stabilize oil prices amid global demand uncertainties and increasing…
Port Harcourt Refinery Resumes Scaled Operations Amid Pricing Controversy The Port Harcourt Refining Company (PHRC) has resumed operations on a limited scale as part of ongoing facility upgrades, the company confirmed on Sunday. However, controversy brews as marketers resist purchasing fuel at the reported price of ₦1,030 per litre, citing concerns over affordability and market…
Saudi Arabia Poised to Cut January Crude Prices for Asia to Multi-Year Lows Top oil exporter Saudi Arabia is expected to slash its official selling prices (OSP) for crude oil in January for Asian buyers to the lowest levels in at least four years, according to industry traders. The anticipated reductions follow a decline in…
Experts Warn: Sugary Drinks Industry Fuels Climate Crisis and Health Risks The sugar-sweetened beverage (SSB) industry has been identified as a significant contributor to climate change, according to health and environmental experts who are calling for stronger measures to curb the industry’s impact. Speaking at a webinar organized by the Corporate Accountability and Public Participation…
African Nations Ramp Up Efforts to Attract Mining Investment for Economic Diversification Abidjan, Côte d’Ivoire – Across the continent, African countries are intensifying efforts to attract global mining investors as they seek to diversify their economies and tap into the wealth of mineral resources critical to global energy transitions. Côte d’Ivoire is currently hosting its…
Oil Prices Dip 1% Following Israel-Lebanon Ceasefire Agreement. Oil prices fell on Tuesday after reports of a ceasefire agreement between Israel and Lebanon reduced the geopolitical risk premium that had previously supported prices. Brent crude futures declined by 80 cents, or 1.1%, to $72.21 per barrel, while U.S. West Texas Intermediate (WTI) crude dropped 78…
TotalEnergies Pauses U.S. Offshore Wind Project Following Trump Election Victory. TotalEnergies, the French energy giant, has announced a halt to its offshore wind project off the coast of New York following the U.S. election victory of Donald Trump. The development was confirmed by the company’s CEO, Patrick Pouyanne, during the Energy Intelligence Forum on Tuesday….
Eunisell Advocates for Domestication in Nigeria’s Oil and Gas Sector. Eunisell Limited, a leading chemical and production solutions company, has reiterated the need to domesticate Nigeria’s oil and gas industry, emphasizing the role of local content and indigenous companies in driving sustainable growth. Speaking during the opening ceremony of the Nigerian Association of Petroleum Explorationists…
NSIA Develops 500,000 Homes, Creates 245,000 Jobs in Major Socio-Economic Push The Nigeria Sovereign Investment Authority (NSIA) has announced significant strides in addressing the country’s infrastructure and social development challenges. The agency revealed it has delivered 500,000 affordable homes for low-income families through its stake in the Family Homes Fund, a move aimed at alleviating…
Petroleum Ministry and Stakeholders Reaffirm Commitment to PPP Policy for Infrastructure and Economic Growth The Ministry of Petroleum Resources, in collaboration with key stakeholders in the oil and gas sector, has reiterated its dedication to advancing Nigeria’s Public-Private Partnership (PPP) framework as a sustainable strategy for economic growth and infrastructure development. During a stakeholders’ workshop…
