Category : Search result: global oil market stability


Trump Announces Naval Blockade Against Venezuela

US President Donald Trump announces a maritime blockade on Venezuela, demanding the return of oil and land he claims were stolen. Get the full details on this escalating crisis.

Nigeria's oil rigs stuck at 41 amid OPEC expansion

Nigeria's oil rig count remained flat at 41 in November, unchanged from 2024, while OPEC nations boosted activity by 7%. Discover the structural challenges holding back Africa's top producer.

N66.42tr Hits Federation Account in 3 Years

Nigeria's Federation Account gross inflows hit N66.42 trillion from 2023 to Oct 2025, driven by fiscal reforms. RMAFC Chairman cites economic progress despite citizens' concerns. Read full analysis.

Nigeria Condemns Coup Attempt in Benin Republic

Nigeria's government condemns the attempted coup in Benin, calls for calm, and reaffirms commitment to regional stability and democratic governance. Read the full statement.

Nigerian Equities Market Gains N997bn in Week

The Nigerian Exchange closed the first week of December positively, with investor wealth rising by nearly N1 trillion. The All-Share Index gained 1.08% as market sentiment remained strong. Discover the top gainers and most traded stocks.

PENGASSAN warns of oil sector brain drain over low pay

PENGASSAN warns Nigeria's oil sector faces a severe brain drain due to low wages and economic hardship. Union President Festus Osifo urges immediate action to close the wage gap and retain skilled workers.

NDIC Assures Deposit Safety, Warns Against Fraudsters

NDIC MD reassures Nigerians of deposit safety with up to ₦5m insurance. He warns against Ponzi schemes and details collaboration with CBN for banking stability. Visit their Trade Fair pavilion for more.

NNPC's ₦5.4trn Profit Shows Impact of Reforms

NNPC Limited's record ₦5.4 trillion profit for 2024 is hailed as proof of successful reforms under Bayo Ojulari. Discover how operational discipline and commercial changes are reshaping Nigeria's oil and gas sector.

National Debt Rises to N152.4 Trillion

Nigeria's public debt surges to N152.39 trillion as experts warn short-term investments threaten fiscal stability. State debts see historic decline. Read the full analysis.

Nigeria eyes $10bn from 50 oil blocks lease

Nigeria's NUPRC launches 2025 oil licensing round for 50 blocks, aiming to raise $10bn and boost output by 400,000 barrels per day. Discover the transparent bidding process.

TotalEnergies Sells Nigeria Offshore Stake to Chevron

French oil giant TotalEnergies sells a 40% stake in Nigerian offshore exploration licences to Chevron. The deal aims to derisk and develop new opportunities in Nigeria's oil sector. Full details inside.

CBN Consolidates Financial Market Reform Gains

CBN Governor Yemi Cardoso outlines progress in Nigeria's financial reforms as naira stabilizes, inflation drops to 16.05%, and reserves hit $46.7 billion. Learn how these gains impact Nigeria's economy.

Nigeria Capital Market Shifts to T+2 Settlement Cycle

Nigeria's capital market transitions to T+2 settlement cycle, signaling global readiness and enhancing investor confidence. Learn how this reform positions Nigeria for international competitiveness.

OPEC+ Pauses Oil Output Hikes Until March 2026

OPEC+ reaffirms plan to maintain current oil production levels until March 2026 and agrees on a new capacity assessment mechanism. Learn how this decision impacts global oil markets.

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