Adeoti Malik 
China’s Refiners Halt October Fuel Exports as PetroChina Scraps Planned Cargoes Chinese oil refiners have stopped shipping fuel to markets outside Hong Kong and Macau until Beijing says otherwise, a move that threatens to squeeze an already strained global fuel market just as the Middle East conflict and sanctions on Russia continue limiting supply elsewhere. … Read more
Nigeria’s oil minister says the country’s drilling activity has rebounded dramatically since 2023, with the number of active oil rigs climbing from roughly 14 to more than 60 under President Bola Tinubu’s administration, a shift he credits for pushing crude output past 1.7 million barrels a day. Heineken Lokpobiri, Minister of State for Petroleum Resources, … Read more
NNPC’s Annual Profit Jumps 33% to ₦7.2 Trillion Even as Revenue Falls Nigeria’s state oil company closed out 2025 with its strongest profit performance in years, even though the top-line revenue figure actually moved in the opposite direction, a split that NNPC Limited’s leadership credits to tighter cost discipline rather than a booming market. NNPC … Read more
The Trump administration has told Germany and France to start drawing down their emergency diesel inventories to help bring down global fuel prices, warning that failure to do so could prompt the US to ban diesel exports altogether, according to three people close to the discussions cited by Reuters. The pressure campaign centers on a … Read more
OPEC+ Likely to Hold Oil Output Steady for November, Sources Say OPEC+ is expected to leave its oil production targets unchanged for November when the group’s core members meet on Sunday, according to two people familiar with the discussions, extending a policy of caution that has now defined the alliance’s approach for several consecutive months. … Read more
Pakistan Cuts Petrol by Rs1.49, Diesel by Rs2.73 Per Litre in Second Straight Reduction Pakistan’s government reduced fuel prices for the second consecutive day on Tuesday, cutting petrol by Rs1.49 per litre and high-speed diesel by Rs2.73, giving consumers a modest break after weeks of steep increases tied to global oil market volatility. According to … Read more
The Nigerian Navy says it has recovered approximately 80,000 litres of suspected stolen crude oil from two separate hideouts in Delta State, the latest in a string of anti-theft operations carried out under its ongoing Operation Delta Sentinel. Details of the recoveries were disclosed in an operational report released in Abuja on Tuesday by Captain … Read more
Nigerian Refiners Push for End to Fuel Imports as Court Ruling Complicates Their Case Nigeria’s domestic refinery owners used a major industry summit in Lagos this week to press the federal government for a clear, staged path toward ending the country’s reliance on imported petroleum products, even as a fresh court ruling on the same … Read more
Oil prices rose Wednesday after President Donald Trump flatly denied he was willing to ease sanctions on Iran, a denial that reinjected uncertainty into the market just a day after crude had fallen on signs that Middle East supply was finally recovering. Trump’s denial targeted a report from Axios that cited US officials saying he … Read more
Crude Oil Tumbles as Satellite Data Confirms More Barrels Are Finally Clearing the Strait of Hormuz Oil prices dropped sharply on Tuesday, with November WTI crude settling down 3.48 percent and gasoline futures sliding to a two-and-a-half-week low, as fresh evidence that crude is moving through the Strait of Hormuz at its fastest pace in … Read more