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OPEC+ considers output boost as Hormuz impasse traps market supply
Sopuruchi Onwuka, with agency reports Organization of Petroleum Exporting Countries and its non-member allies (OPEC+) are expected to weigh another modest increase in oil production this weekend, even as the ongoing U.S.-Israeli war with Iran keeps the Strait of Hormuz…
UN urges accelerated energy transition amid Strait of Hormuz crisis
The ongoing crisis in the Middle East is intensifying calls from the United Nations for a faster global shift to renewable energy, as disruptions to fossil fuel supplies expose the vulnerability of nations reliant on oil and gas from conflict-prone…
US EXIM approves over $2 bn US LNG supply to Egypt
Ziggy Ojiegbe The Export-Import Bank of the United States has approved more than $2 billion in financing support for U.S. liquefied natural gas exports to Egypt, in a move aimed at expanding American energy reach and strengthening strategic trade ties….
China stands behind Iran as UNSC faces impasse on Strait of Hormuz
Ziggy Ojiegbe China has signaled firm backing for Iran’s position in the escalating Strait of Hormuz crisis, deepening divisions at the U.N. Security Council as members explore viable plans to protect global shipping. Beijing, a veto-wielding member of the council,…
NUPRC says Nigeria has recovered oil output to 1.84m
Channels more oil revenue from NNPC slush funds to federal account Sopuruchi Onwuka Commission Chief Executive of the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyiwa Eyesan, has declared that country has rebuilt available oil production capacity to some1.84 million…
Indonesia to accelerate biofuel production as oil price soars
Frank Okon Indonesia is accelerating biofuel production and renewable energy development as soaring global oil prices—driven by the Middle East conflict—expose the country’s heavy reliance on fossil fuels. President Prabowo Subianto said Jakarta is moving urgently to strengthen energy security,…
Hope rises for global shipping as French vessel sails through Hormuz
Frank Okon A container ship linked to French shipping giant CMA CGM has reportedly become the first Western European-affiliated vessel to transit the Strait of Hormuz since the start of the Iran war, signaling a tentative return of commercial traffic…
Iran war: S.Korea canvasses accerlerated energy transition
Ziggy Ojiegbe South Korean President Lee Jae Myung has warned that the ongoing Iran war is exposing the dangers of global reliance on fossil fuels, urging an urgent shift toward renewable energy. Speaking at a town hall on Jeju Island,…
Nigeria’s Oil Reserves Stand at 37.01bn Barrels, Gas at 215.19TCF – NUPRC
Sopuruchi Onwuka Nigeria’s total oil and condensate reserves stood at 37.01 billion barrels as of January 1, 2026, while total natural gas reserves reached 215.19 trillion cubic feet (TCF), the Nigeria Upstream Petroleum Regulatory Commission has declared. The Commission Chief…
Adeleye Falade takes ’s CEO’s seat at NLNG
Sopuruchi Onwuka Mr Adeleye Falade, an engineer, has officially assumed office as the Managing Director and Chief Executive Officer of NLNG. In a statement issued to Oracle Intelligence in Lagos, the company’s spokesperson, Dr Sophia Horsfall, said Falade took up…
