Oil and Gas

London, Sept 19, 2025 – Oil prices dropped on Friday as worries over fuel demand outweighed expectations that the year’s first interest rate cut by the U.S. Federal Reserve would trigger more consumption. Brent crude futures were down 41 cents, or 0.6%, at $67.03 a barrel by 0855 GMT while U.S. West Texas Intermediate futures lost 54 cents, or 0.9%, to $63.03. Both benchmarks were still on track for a second consecutive weekly gain. The Fed cut its policy rate by a quarter of a percentage point on Wednesday and indicated …

Tokyo/Singapore, Sept 18, 2025 – Oil prices declined for a second session on Thursday, after the Federal Reserve cut interest rates as expected and traders focused on concerns about the U.S. economy and excess supplies. Brent crude futures fell 13 cents, or 0.19%, to $67.82 a barrel by 0417 GMT. U.S. West Texas Intermediate futures dropped 18 cents, or 0.28%, to $63.87. The Fed cut its policy rate by a quarter of a percentage point on Wednesday and indicated it will steadily lower borrowing costs over the rest of the …

Abuja, Sept. 16, 2025 – Bashir Bayo Ojulari, the Group Chief Executive Officer of NNPC Limited, has reaffirmed Nigeria’s unwavering commitment to partnering with other African nations to achieve sustainable energy security across the continent. Ojulari made this assertion while addressing industry leaders at the 7th African Petroleum Producers’ Organisation (APPO) National Oil Companies CEOs Forum where he stressed the urgency for Africa to accelerate its energy transition and secure its energy future. He highlighted the decline of European investments in fossil fuel refineries, with most set to phase out …

Lagos, Sept. 16, 2025 – The Dangote Refinery has invested ₦2 trillion in trucks and logistics to facilitate direct delivery of fuel across the country. Aliko Dangote, the Chief Executive of Dangote Group, disclosed this on at a press briefing on Monday. He said the company had ordered for 10,000 trucks, including CNG and dry cargo carriers, but had received 4,000 CNG trucks, while additional trucks would be arriving every day. “Every day, trucks will be arriving. By the end of November, we will have 10,250 CNG trucks in operation,” …

Bengaluru, Sept 16, 2025 – Oil prices edged up on Tuesday after rising in the previous session, as market participants contemplated potential supply disruption from Russia after Ukrainian drone attacks on its refineries. Brent crude futures edged up 15 cents to $67.59 a barrel by 0354 GMT while U.S. West Texas Intermediate crude was at $63.45, also up 15 cents. On Monday, Brent settled up 45 cents at $67.44 while WTI settled 61 cents higher at $63.30. Ukraine has intensified attacks on Russia’s energy infrastructure in an attempt to impair …

London, Sept 15, 2025 – Oil prices edged higher on Monday as investors assessed the impact of Ukrainian drone attacks on Russian refineries, while U.S. President Donald Trump said he was prepared to impose sanctions on Russia if NATO nations stop buying Russian oil. Brent crude futures rose 32 cents, or 0.5%, to $67.31 a barrel by 0800 GMT while U.S. West Texas Intermediate crude was at $63.01 a barrel, also up 32 cents, or 0.5%. Ukraine launched a large attack with at least 361 drones targeting Russia overnight, sparking a …

London, Sept 12, 2025 – Oil prices rose by nearly 2% on Friday after a Ukrainian drone attack on a Russian port suspended loadings, outweighing pressure from oversupply concerns and weaker U.S. demand risks. The drone attack on Russia’s northwestern port of Primorsk – one of the country’s largest oil and fuel export terminals – led to a suspension of oil loading operations overnight, an official from Ukraine’s SBU security service told Reuters. “Those attacks on Russian energy infrastructure have room to drag down Russian crude and refined product exports,” said …