By Jeleel Olawale An economist, Dr. Muda Yusuf has declared that there may be significant increase in United States of America oil production which may depress oil prices in the global market. He said the USA may put pressure on major oil producers including OPEC to boost production in order to reduce energy cost, adding […]
…As crude oil prices respond to Trump’s inauguration Some filling stations in Lagos yesterday adjusted pump price of the premium motor spirit (PMS) otherwise known as petroleum. This followed the hike in ex-depot price following the recent rise in price of crude oil in the international market. SPONSOR AD Crude oil prices have risen sharply
Filling stations adjust petrol pump prices in Lagos Read More »
Dangote Petroleum Refinery has made a significant and commendable decision to absorb a substantial portion of rising global oil prices, ensuring that Nigerians continue to benefit from stable fuel costs despite a surge in international crude prices. Africa’s first private refinery, which disclosed this in a statement by its Group Chief Branding and Communications Officer,
Dangote Refinery sacrifices profit margins to shield Nigerians from soaring fuel prices Read More »
Dangote Petroleum Refinery said the recent adjustment in its ex-depot price of Premium Motor Spirit (petrol) is directly related to the significant increase in global crude oil prices. The ex-depot petrol price has been adjusted from N899.50 to N950 per litre, marking a 5% increase. However, Dangote Refinery emphasised that this increase is notably lower
Dangote Refinery adjusts petrol prices, absorbs 50% of global oil price increase Read More »
The blast claimed so many victims because a crowd had gathered, including people taking pictures, bystanders and others trying to scoop gasoline, a government official said. A gasoline explosion occurred in Dikko, Nigeria, on Saturday. next24online / NurPhoto via Getty Images / Source: The Associated Press ABUJA, Nigeria — The death toll from a gasoline
At least 86 dead, 55 injured in Nigerian gasoline tanker explosion Read More »
According to data from Trading Economics, the price of palm oil reached its highest point since mid-2022 late last year. On 11 November, the price reached 5,195 Malaysian ringgit (€1121.76) per tonne, and on 5 December it reached 5138 Malaysian ringgit (€1109.45) per tonne. Factors such as the RSPO standards and the EUDR may have
Why palm oil’s prices rocketed and sent buyers to other fats Read More »
By Irina Slav – Jan 15, 2025, 9:38 AM CST Crude oil prices moved higher today, after the U.S. Energy Information Administration reported an inventory dip of 2 million barrels for the second week of the year. The change estimated by the EIA compared with a modest draw of around 1 million barrels for the
Oil Rises as Crude Inventories Continue to Draw Read More »
Sales of all types of electric vehicles rose more than 40% in China last year, while those of gasoline-powered automobiles plunged By KEN MORITSUGU Associated Press and ZEN SOO Associated Press January 13, 2025, 4:18 AM BEIJING — Sales of all types of electric vehicles rose more than 40% in China last year, while those
China’s electric car sales grow in 2024, as sales of gasoline cars plunge Read More »
Irina Slav Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry. More Info By Irina Slav – Jan 10, 2025, 1:10 AM CST Crude oil prices were set for their third week of gains today, as demand for heating fuel kept prices elevated. The gains
Oil Prices Extend Gains for the Third Week in a Row Read More »
Nigeria and Saudi Arabia are embarking on a transformative journey to redefine their economic narratives. Historically, both nations have relied heavily on crude oil as the cornerstone of their economies, rendering them susceptible to the fluctuations of global oil prices. In light of the increasing momentum toward renewable energy and economic diversification, both countries are
OPINION… Rewriting the Narrative: Nigeria-Saudi Arabia cooperation beyond oil Read More »
