Category: Business

The US military launched a new wave of strikes on Sunday after renewed fighting over the waterway saw several of Washington’s Gulf allies targeted by incoming fire. A worker pours crude oil into a locally made burner using a funnel at an illegal oil refinery in Bayelsa State. (PHOTO/Akintunde Akinleye) Oil prices jumped more than…

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The improved performance was primarily driven by stable production operations across most producing assets and the absence of any major pipeline outages, according to the Commission. A graphic illustration of barrels of crude oil Nigeria has met its production quota set by the Organisation of Petroleum Exporting Countries (OPEC), as crude oil and condensate production…

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The union and management have been in talks since May but have failed to reach an agreement, with a fifth round of negotiations collapsing on July 8. (FILES) This file photo taken on March 27, 2024 shows the Hyundai Motor logo on the Ioniq 6 electric car at a dealership in Seoul. (Photo by Jung…

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Nigeria’s crude oil production has climbed to its highest level in more than six years, with the country exceeding its Organisation of the Petroleum Exporting Countries production quota for the fourth consecutive month, buoyed by improved operational stability and fewer disruptions to oil infrastructure. Latest figures released on Sunday in Abuja by the Nigerian Upstream…

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Dangote Cement Plc has unveiled plans to further reduce net carbon dioxide (CO₂) emissions intensity by 20 per cent, and increase installed production capacity to 80 million tonnes per annum (MTPA) by 2030, The companyreaffirmed its commitment to sustainable industrialisation, while outlining sustainability strategies that align with the broader Dangote Industries Limited (DIL) Vision 2030. Presenting…

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The programme is aimed at reducing production costs, increasing crop yields, strengthening food security, and stimulating economic growth through agriculture. The Plateau Government has officially commenced the sale of 500 truckloads of subsidised fertiliser for the 2026 cropping season, with Governor Caleb Mutfwang announcing a reduction in the price to ₦20,000 per bag in a…

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Last month’s twin quakes in Venezuela have killed at least 3,800 people, flattened scores of residential buildings, and left thousands more homeless or missing in one of Latin America’s worst earthquake disasters. Venezuela’s Vice President Delcy Rodriguez speaks during a press conference in Caracas on August 11, 2025. On January 3, 2026, Venezuela’s Supreme Court…

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There is huge humanitarian need after one of Latin America’s worst earthquake disasters left thousands of people homeless and thousands more still missing. In badly damaged La Guaira, families are still digging for the bodies of loved ones in the rubble. Rescuers search for bodies at the site of a collapsed building in Catia La…

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Trump ordered new strikes Wednesday and warned of “much worse” if Tehran continues to attack vessels in the strait, through which a fifth of world oil usually passes. A graphic illustration of barrels of crude oil Oil prices extended their surge Thursday as Donald Trump said the US ceasefire with Iran was over and ordered…

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The Managing Director of ExxonMobil affiliates in Nigeria, Jagir Baxi. The Nigerian Upstream Petroleum Regulatory Commission has welcomed ExxonMobil’s decision to invest $1bn in the Usan Infill Project located in Oil Mining Lease 138, describing the development as a major milestone capable of reviving deepwater drilling activities and accelerating Nigeria’s crude oil production ambitions. The…

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