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Ground offensive looms as Trump deploys additional war ships, troops
Frank Okon The United States is increasing its military presence in the Strait of Hormuz as Washington and its allies work to restore safe passage for global oil and cargo shipments. The narrow waterway, which carries roughly a fifth of…
Oil crunch worsens as Iran attacks Saudi air base, UAE oil port
Ziggy Ojiegbe Iran launched missile and drone attacks targeting Saudi Arabian air base that hosts U.S. forces, and an oil export facility in the United Arab Emirates, according to multiple media reports. The Prince Sultan Air Base was struck by…
Chevron declares resolve to contribute to Niger Delta development
Operator of the joint venture with Nigerian National petroleum Company Limited (NNPCL), Chevron Nigeria Limited, has confirmed its commitment to socio-economic development in the Niger Delta. Chevron said it has demonstrated the interest in stakeholder discussions on the proposed Escravos…
UN demands urgent $14 bn to save 87m people
Laments $1bn/day war in Iran Frank Okon Some 87 million people worldwide face the risk of death unless the international community urgently provides more than $14 billion in humanitarian aid, the United Nations emergency relief chief warned Thursday. Speaking in…
Africa Energies Summit faces boycott over inclusivity concerns
Ziggy Ojiegbe The African Energy Chamber has called for an industry-wide boycott of the upcoming Africa Energies Summit, citing concerns over the lack of Black African representation in the leadership of the event’s organizing company. The summit, organized by Frontier…
MSC, Nigerdock sign 45-year deal to build major container terminal in Lagos
Frank Okon Mediterranean Shipping Company (MSC) has signed a 45-year sub-concession agreement with Nigerdock to develop and operate a new container terminal at Snake Island Port in Lagos, marking a major investment in Nigeria’s maritime and logistics sector. Under the…
IEA unleashes record 400 Mbbls oil release as Gulf war jolts markets
Frank Okon The International Energy Agency has approved a record release of emergency oil reserves as the war in the Middle East threatens global energy supplies and drives crude prices sharply higher. The agency said March 11 that its 32…
Oil surges past $100 as Iran strikes ships and energy targets
Dangote likely to hike domestic fuel prices Frank Okon Retail prices of transportation fuels in Nigeria are far from stable as the war in the Middle East continues to cause fluctuations in the crude oil prices, compelling similar pattern of…
Over 27,000 flights, 4.4m seats cancelled as travelers stranded in Middle East
Frank Okon More than 27,000 flights to and from the Middle East to international destinations have been cancelled, with an estimated 4.4 million airline seats removed from schedules over the past week as Iranian regime ratchets bombardment of neighboring Arab…
Iran war erases LNG glut fears as market shifts toward deficit
Attacks linked to the ongoing conflict involving Iran and disruptions to oil and gas production across the Middle East have rapidly changed the outlook for the global liquefied natural gas (LNG) market. Security concerns around shipping through the Strait of…
