Singapore, Nov 3, 2025 – Oil prices climbed on Monday after OPEC+ decided to hold off production hikes in the first quarter of next year, which eased rising fears of a supply glut, but weak factory data in Asia capped the gains. Brent crude futures rose 28 cents, or 0.43%, to $65.05 a barrel by 0722 GMT. U.S. West Texas Intermediate crude was at $61.23 a barrel, up 25 cents, or 0.41%. The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, agreed on Sunday to raise output …
Dangote assures Nigerians of steady petrol, diesel supply
By Paul Ejime Lagos, Nov. 3, 2025 – Dangote Petroleum Refinery has reiterated its commitment to ensuring a steady and uninterrupted supply of petrol or Premium Motor Spirit (PMS) and Automotive Gas Oil (diesel) nationwide. It said that local production of petroleum products has contributed to the strengthening and stabilisation of the local currency, the Naira. “We have reduced foreign exchange outflows and increased inflows, which in turn supports the Naira and strengthens the economy,” Anthony Chiejina, Group Chief Branding and Communications Officer, Dangote Industries Limited (DIL), said in …
Oil rises on optimism over US-China leaders’ meeting
London, Oct 29, 2025 – Oil prices rose on Wednesday thanks to a decline in U.S. crude inventories and optimism over a meeting between the leaders of the U.S. and China, the world’s two largest oil consumers. Brent crude futures were up 22 cents, or 0.34%, to $64.62 a barrel at 0745 GMT. U.S. West Texas Intermediate crude futures rose 20 cents, or 0.33%, to $60.35. On Wednesday, China’s foreign ministry said Chinese President Xi Jinping would meet with U.S. President Donald Trump on Thursday in the South Korean city …
OTL: NNPC Ltd recommits to robust downstream infrastructural development
Abuja, Oct. 28, 2025 – The NNPC Ltd has reiterated its commitment to the development and revamping of downstream across the country to enhance collaboration and drive efficiency in the sector. Bayo Ojulari, its Group Chief Executive, made the promise at the opening ceremony of the 2025 OTL Africa Downstream Energy Week in Lagos on Monday. Speaking on the conference’s theme “Energy Sustainability: Beyond Boundaries & Competition”, Ojulari said competition alone was no longer enough to drive efficiency, adding that operators must embrace collaboration, sustainability, and resilience as the …
Dangote Refinery to increase capacity to 1.4mbpd
Lagos, Oct. 22, 2025 – The Dangote Refinery is to increase its capacity from 650,000 barrels per day to 1.4 million barrels per day (mbpd), the highest in the world. Aliko Dangote, the Chairman of Dangote Group, disclosed this during a recent interview with S&P Global. He said the initial plan was to expand the refining capacity to 700,000, but this has changed to surpass the world’s largest 1.36 million bpd refinery in Jamnagar, India. “I want to demonstrate what this refinery can do, then we can sit down …
Oil rises nearly 2% on trade talk optimism
London, Oct 22, 2025 – Oil prices pushed higher for a second day on Wednesday, rising by about 2%, buoyed by hopes of progress of a U.S. trade deal with China and India. Brent crude futures rose 96 cents, or 1.6%, to $62.28 a barrel as of 0924 GMT, while U.S. West Texas Intermediate crude futures climbed 95 cents, or 1.7%, to $58.19. “Oil prices climbed after reports suggested the U.S. and India are close to finalising a trade deal that could see India gradually cut imports of Russian crude, …
US-India near deal to cut tariffs as Trump says China meeting may not happen
Washington, Oct. 22, 2025 – The US and India are nearing a trade deal which could see tariffs on New Delhi cut by 15-16% from 50%, according to a report in the Mint. President Trump hiked tariffs on India in August over New Delhi’s purchase of Russia oil. Trump accused India of aiding the war in Ukraine by purchasing oil from Russia. At the same time, India’s President Modi may agree t reduce the countries purchase of Russian oil. Trump claimed on Tuesday that he and Modi had spoken and …
Oil prices slip on concerns over US-China trade tensions
Tokyo/Beijing, Oct. 20, 2025 – Oil prices dipped on Monday, pressured by worries over a global glut as U.S.-China trade tensions added to concerns about an economic slowdown and weaker energy demand. Brent crude futures were down 53 cents, or 0.86%, at $60.76 a barrel as of 0610 GMT, while U.S. West Texas Intermediate futures fell 55 cents, or 0.96%, to $56.99, erasing gains from Friday. Both benchmarks declined more than 2% last week, marking their third consecutive weekly decline, partly due to the International Energy Agency’s outlook for …
Trump vows to keep ‘massive’ tariffs on India until Russian oil imports cease
Washington, Oct. 20, 2025 – U.S. President Donald Trump reiterated on Sunday that Indian Prime Minister Narendra Modi told him India will stop buying Russian oil, while warning that New Delhi would continue paying “massive” tariffs if it did not do so. “I spoke with Prime Minister Modi of India, and he said he’s not going to be doing the Russian oil thing,” Trump told reporters aboard Air Force One. Asked about India’s assertion that it was not aware od any conversation between Modi and Trump, Trump replied: “But if …
Oil rises 1% after Trump says India promised to stop buying from Russia
Tokyo, Oct. 16, 2025 – Oil prices rose around 1% on Thursday after U.S. President Donald Trump said Indian Prime Minister Narendra Modi had pledged his country would stop buying oil from Russia, a move that could drain supply elsewhere. Brent crude futures rose 56 cents, or 0.9%, to $62.47 a barrel by 0655 GMT. U.S. West Texas Intermediate (WTI) futures climbed 58 cents, or 1%, to $58.85. Both contracts touched their lowest since early May in the previous session on U.S.-China trade tensions and after the International Energy …