NEWS

Nigeria’s Vice President, Prof. Yemi Osinbajo says only strong partnerships and coordination among African countries can guarantee the mobilization of resources required for a just energy transition given the quantum of investments and…

Oil prices lowered yesterday in Europe as the United States counted votes in the midterm elections, which turned closely contested as expected. Reports say the race for the House was too close to call, too, compared to expectations that…

The lingering scarcity of Premium Motor Spirit (PMS), otherwise called petrol, has persisted in the Federal Capital Territory (FCT) and other hinterland states despite... The lingering scarcity of Premium Motor Spirit (PMS), otherwise…

U.S. President Joe Biden has announced plans to shell out $13.5 billion to help reduce energy costs for low- and moderate-income households. “The vice president will highlight how President Biden’s economic plan will help households…

Since the OPEC+ group of nations announced last month that it would reduce oil production by 2 million barrels per day, there has been a rise in anti-Arab sentiment and anger in the US.At nearly every level in the country, Saudi Arabia is…

To counter the effects of the EU powered coalition against it on gas supplies, Russia and Iran have agreed to sign a free trade agreement with the Eurasian Economic Union, Russian Deputy Prime Minister Alexander Novak said yesterday The…

Former foreign affairs minister, Prof Bola Akinyemi, has called on the federal government to institute a judicial enquiry into the massive oil theft in Nigeria. Making the call under the auspices of a group, The Academy of International…

Lawmakers in the House of Representatives have accused major oil companies in Nigeria of tax evasion following preliminary findings by the ad hoc committee investigating the structure and accountability of the joint venture businesses and…

Chevron Posts Its Second-Highest Quarterly Profits U.S. oil major, Chevron has joined the oil and gas industry’s robust earnings crowd for the quarter by easily beating analyst profit estimates. Chevron’s net profit for the quarter…

The European Union has finally agreed to phase out internal combustion engine cars by 2035, and enforced a zero-emission regulation on carmakers in the region. National government negotiators, the European Parliament, and the European…

From its takeoff on April 1 1977 as a merger of the Nigerian National Oil Corporation (NNOC) and the federal ministry of petroleum and energy resources, the Nigerian National Petroleum Corporation (NNPC) witnessed key transformations…

Wall Street's top banks expect a looming recession in the US and Europe as interest rates continue to rise sharply and the economic outlook weakens amid persistent geopolitical headwinds. JP Morgan Chase chief executive, Jamie Dimon,…

A London court has said that Nigeria cannot claim compensation from a British subsidiary of mining and trading group Glencore Energy, over bribes paid to officials of the then Nigeria National Petroleum Corporation Lawyers representing…

A Nigerian court has ordered a final seizure of two properties and cars owned by former petroleum resources minister, Diezani Alison-Madueke, the country's Economic and Financial Crimes Commission said yesterday. In the ruling, Justice…

President Muhammadu Buhari has conferred the “Distinguished Capacity Development Award” on the executive secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Kesiye Wabote. Wabote was among the…

Saudi state media announced Saturday that the kingdom will provide $400 million in humanitarian aid to Ukraine, following a Friday phone call between Crown Prince Mohammed bin Salman and President Volodymyr Zelensky. SPA stated of the…

Bboxx has announced a partnership with Ampersand, an e-mobility company specializing in the provision of sustainable transport solutions. The partnership is targeted at boosting Ampersand’s e-mobility scheme in Rwanda. Bboxx said…

The African Development Bank (AfDB) has explained that the $2.5million funding from the Sustainable Energy Fund for Africa (SEFA) will be used to implement the Mozambique Renewable Energy Integration Program (MREP). SEFA is a…

The Conference of Nigeria Political Parties (CNPP) has commended the trio of Kaduna state governor, Nasir El Rufai, Labour Party presidential candidate, Mr. Peter Obi and former Central Bank of Nigeria governor, Sanusi Lamido Sanusi for…

Angola and Libya have for the second consecutive month maintained their lead over Nigeria as Africa’s highest crude oil producers, according to a report by the Organisation of the Petroleum Exporting Countries (OPEC). OPEC said this in…