Crude Oil Price Drop Puts Nigeria’s 2025 Budget at Risk Amid Global Trade Tensions Nigeria’s 2025 budget faces mounting pressure as crude oil prices continue to decline amid escalating global trade tensions. At the close of the global crude oil market last weekend, Bonny Light, Nigeria’s premium crude grade, dropped to $70.3 per barrel, marking…
TotalEnergies Targets N192bn Revenue in Q2 2025 Despite Rising Costs TotalEnergies Marketing Nigeria Plc has set its revenue target at N191.61 billion for the second quarter of 2025, despite facing increasing operational costs. This projection was disclosed in the company’s recently filed profit and loss forecast with the Nigerian Exchange Limited. According to the financial…
NNPC May End Naira-For-Crude Deal with Dangote Refinery Over Delivery Disputes Abuja, Nigeria – The Nigerian National Petroleum Company Limited (NNPCL) is reportedly considering terminating its naira-for-crude oil agreement with the Dangote Refinery by the end of March 2025 due to unresolved delivery issues. The six-month-old deal saw NNPCL supplying up to 385,000 barrels of…
Accelerating Nigeria’s Energy Progress: Investment, Partnerships, and Innovation Take Center Stage at NOG Energy Week By Jerome Okojokwu-Idu As Nigeria charts its course toward a sustainable energy future, the 2024 NOG Energy Week played a vital role in shaping discussions across government and private sectors by showcasing the available opportunities and driving investment to…
NIGERIA MACHINE TOOLS LTD CELEBRATES 45 YEARS OF INNOVATION AND EXCELLENCE By Jerome Okojokwu-Idu Nigeria Machine Tools Limited (NMTL) stands as a pillar of Nigeria’s industrial development, with a legacy spanning over four decades. Established in 1980, the company has evolved from a government-managed entity into a leading private-sector manufacturer, supplying critical components for the…
Oil Prices Recover Slightly, but Brent Stays Below $70 Oil markets showed signs of life on Thursday, with prices edging up after hitting a multi-year low earlier in the week. However, Brent crude remains below the critical $70 per barrel threshold, weighed down by global trade tensions and OPEC+ supply adjustments. Brent futures rose 28…
U.S. Weighs Plan to Disrupt Iran’s Oil Trade with Naval Inspections In a bold move to curb Iran’s oil exports, the Trump administration is reportedly considering a maritime inspection program targeting Iranian oil shipments at sea. This initiative, still under discussion, aims to delay deliveries and deter refiners from purchasing Iranian crude. Six sources familiar…
Optima Energy Joins Dangote Refinery’s Fuel Distribution Network Nigeria’s energy landscape is shifting as Optima Energy becomes the latest company to partner with Dangote Refinery for fuel distribution. The company joins MRS, Heyden, and Ardova Plc, strengthening Dangote’s retail network across the country. As part of this partnership, petrol prices have been reduced to N825…
Oil Market Turbulence: Weak Refinery Output and Export Demand Hit Midland Crude Prices Along Texas Coast The Texas oil market is facing a tough period as weak refinery output and sluggish export demand have put downward pressure on Midland crude prices. The price spread between WTI Midland crude in West Texas and Houston has narrowed…
