Oil and gas: ‘Everything favours Africa now’
The current geopolitical turmoil has put global supply of oil and gas under pressure, but it has also created an opportunity for Africa to develop its vast resources, establish itself as an alternative supplier, and become a net exporter.
Oil rises as Iran’s draft plan sees U.S. and Israel banned from Strait of Hormuz
Oil rose Friday amid worries over supply disruptions after Iran published a restrictive draft plan for the Strait of Hormuz.
Exxon made $160 million per day in last quarter as oil prices surged
ExxonMobil raked in $14.5 billion in profit during the second quarter, more than doubling its year-earlier earnings and its highest haul since 2022 during the onset of the Russia-Ukraine war. Broken down, Exxon made about $160 million per day last quarter.
Oil drops over 5pct as Middle East tensions ebb on diplomatic efforts
Oil prices fell Monday in Asia trading as investors pared geopolitical risk premiums after U.S. President Donald Trump said he had called off a planned strike on Iran.
Oil jumps 20pct in July as war festers with blockades, attacks
Oil fell at the end of a volatile week, but remained on track for the biggest monthly gain since March as the US-Iran war escalated.
Oil extends losses as a pause in U.S.-Iran hostilities raises de-escalation hopes
Oil prices extended their losses Tuesday after a pause in fighting between the U.S. and Iran held, raising hopes for a de-escalation in the Middle East conflict that has upended energy supplies.
Oil slumps as US pause of Iran strikes cools regional tensions
Oil sank after the US paused strikes against Iran, easing tensions even as the Houthis claimed attacks against Saudi targets.
Brent oil nears $100 on supply fears
Brent crude traded near $100 a barrel after Houthi attacks on tankers in the Red Sea opened a new front in the Middle East conflict, while President Donald Trump threatened to extend US strikes on Iran.
Dangote drops dollar petrol pricing, offering relief to Nigeria’s economy
The Dangote Oil Refinery has reversed its decision to sell Premium Motor Spirit (PMS), also known as petrol, in dollars, choosing instead to load at the gantry in Nigeria’s local currency (Naira).
Brent crude hovers near $90 as Iran vows not ‘a single drop’ of oil or gas will transit Hormuz
Oil prices rose Monday as the conflict between the U.S. and Iran has heightened concerns over disruptions to energy shipments through the Strait of Hormuz, following another round of U.S. strikes and American military casualties.