Offshore investors have further reduced their participation in the local equities market amid the global shift toward tighter monetary policy stances to contain inflationary pressures
The European Commission has proposed a deal to accelerate natural gas imports from Egypt in a bid to reduce its reliance on Russian gas.
The Ministry of Energy has admitted that the current persistent increments in fuel prices are a big challenge for them
The global oil market currently is characterised by the ongoing geopolitical tensions, post-pandemic challenges, supply chain issues and rising inflation, resulting in price hikes
The United States Department of Energy has put up 45 million barrels of oil for sale from the country’s strategic reserves as part of President Biden’s largest-ever plan
Brent crude futures for August were up 46 cents at US$121.63 a barrel as of 0642 GMT after falling to as low as US$120.65 earlier in the session
Nigeria has vowed to sanction oil and gas companies that fail to comply with the Human Capacity Development provisions contained in the country’s Oil and Gas Industry Content Development Act.
A Biden statement attempting to address May inflation data contained harsh words—both for the oil industry as a whole and Exxon specifically.
ExxonMobil stock saw a more than 2% boost in share prices on early Wednesday trading, marking a significant comeback for an oil giant that has recently fallen out of favor with Wall Stree
With the European Union and G7 considering the phasing-out of oil imports from Russia, African oil producers are facing mounting pressure to ramp-up production.