Skip to content
Oil crunch: Why price incentives cannot boost Nigeria’s output
Sopuruchi Onwuka Nigeria, Africa’s biggest oil producer and key member of OPEC, is often counted as a potential fallback supplier whenever global oil markets are shaken. But the prevailing supply crisis linked to tensions around Iran and the risk to…
UN says renewables guarantee security amid global energy shocks
Ziggy Ojiegbe The conflict in the Middle East is driving up global oil and gas prices, underscoring the strategic value of renewable energy, the UN’s top climate change official warned on Monday. Speaking at the 2026 Green Growth Summit in…
Iran opens Strait of Hormuz to non-American allies
Ziggy Ojiegbe Iran’s foreign minister announced that the Strait of Hormuz remains open to all vessels except those of the United States and its allies. The statement comes after President Trump threatened to strike Iranian oil facilities. Late Friday, the…
Iran suffers heavy blows but inflicts global economic pain
Ziggy Ojiegbe The Institute for the Study of War has declared that the US and Israeli military campaigns on Iran are right on target when it comes to firepower and core objectives to degrade Tehran’s military capabilities. The institute however…
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…
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…
