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OPEC reports sharp drop in Middle East oil output amid Iran war
The Organization of the Petroleum Exporting Countries (OPEC) has reported a significant decline in crude oil production among its member states, citing the ongoing conflict involving Iran as a major disruptor to supply across the Middle East. In its production…
Dangote warns rising oil prices may ground Nigerian airlines
Demands subsidies for farmers Ziggy Ojiegbe, with agency reports Chairman of the Dangote Group, Aliko Dangote, has called on the Nigerian government to introduce targeted subsidies for farmers, warning that surging global oil prices could cripple both agriculture and aviation…
Oil slumps as Strait of Hormuz reopens despite U.S. blockade on Iran
Ziggy Ojiegbe Iran said it has fully reopened the Strait of Hormuz to commercial shipping, triggering a sharp drop in global energy prices and raising cautious optimism that tensions with the United States may be easing, even as Washington insists…
Iran slips 3 oil cargoes through Strait of Hormuz as tensions ease
Ziggy Ojiegbe Three Iranian oil tankers carrying roughly five million barrels of crude have successfully exited the Gulf, marking the first such movement since Washington imposed a blockade on Iran’s oil exports earlier this week. The development raises fresh questions…
Middle East war portends $58 bn repairs cost on energy sector – Rystad
Frank Okon The ongoing conflict involving Iran and regional tensions has pushed potential repair costs for damaged energy infrastructure to as much as $58 billion, according to new analysis by Rystad Energy. The estimate marks a sharp increase from an…
U.S. presses Iran with incentives and threats as ceasefire talks resume
Ziggy Ojiegbe The United States and Iran have entered a critical phase of negotiations, combining economic incentives with military pressure as both sides attempt to resolve disputes over Iran’s nuclear program and regional security tensions. Talks are being brokered by…
UN warns Hormuz disruption could trigger global food crisis
Ziggy Ojiegbe The United Nations has warned that ongoing disruptions in the Strait of Hormuz could trigger a global food crisis, as constrained flows of fuel and fertilizers threaten agricultural production and raise the risk of higher food prices worldwide….
Trump threatens further military action if Iran challenges Hormuz control
Frank Okon President Donald Trump on Monday warned of additional military action against Iran, hours after U.S. naval forces began enforcing a blockade around the Strait of Hormuz, escalating tensions in one of the world’s most critical energy corridors. In…
U.S. Naval Forces seize Strait of Hormuz as Europe scrambles support
Ziggy Ojiegbe U.S. naval forces have effectively assumed control of the Strait of Hormuz following the collapse of nuclear negotiations with Iran, in a move that is rapidly reshaping security dynamics across one of the world’s most critical energy corridors….
Oil chiefs demand Trump to reject Iran’s toll on Hormuz
Ziggy Ojiegbe Senior oil industry executives have reportedly urged the administration of Donald Trump to oppose Iran’s proposal to impose tolls on vessels passing through the Strait of Hormuz, a critical global energy corridor. According to U.S. media reports, executives…
